On April 16, the Ho Chi Minh City Stock Exchange (HOSE) decided to put SMC’s shares on a warning due to the company’s losses in the last two years and the late submission of the 2024 audited financial report. The company explained that despite serious efforts to improve operational efficiency by liquidating assets and managing debts, the declining steel prices and unstable real estate sector severely impacted its business. In 2024, SMC reported a loss of 269 billion VND, raising its total cumulative loss to 438 billion VND. HOSE warned of possible delisting of SMC shares. The company is working on restructuring and aims for a net profit of 30 billion VND in 2025. However, the increase in bad debts and difficulties in recovering debts from real estate businesses persist.
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