At the annual general meeting of Nam Kim Steel Joint Stock Company (NKG) on April 25, the company plans to consume 1.05 million tons of steel in 2025, with expected revenue of 23 trillion VND and pre-tax profit of 440 billion VND, a decline of 21% compared to 2024. Chairman Ho Minh Quang stated that the company will expand the Phu My factory (4.5 trillion VND), expected to operate in early 2026 with a capacity of 800,000 tons/year, raising total capacity to 2 million tons/year. The company will focus on domestic markets and high-end products to improve profits. In 2024, the company increased revenue by 11% to 20.707 trillion VND and pre-tax profit to 558 billion VND. Despite good results, the company will not pay dividends for 2024 but will allocate funds for development. The company will issue 4.5 million ESOP shares to employees at a price lower than market value. The chairman emphasized that the company will not be significantly affected by U.S. tariffs, having ceased sales to this market since Q4 2024.
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