Cao Bang Steel Joint Stock Company (UpCOM: CBI) has announced its Q1 2025 financial report with net revenue of nearly 418 billion VND, a decrease of almost 39% compared to the same period last year. The cost of goods sold reached 440 billion VND, leading to a gross loss of 22 billion VND. The net loss after tax was over 50.5 billion VND, while in Q1 2024, the company made a profit of 958 million VND. The consumption of steel billets dropped 34.75%, from 50,763 tons to 33,121 tons. The selling price of steel billets also decreased by 6.3%, from 13.39 million VND to 12.54 million VND per ton. As of March 31, 2025, the company’s total assets stood at 2,013 billion VND, with liabilities increasing by 5.8% to 1,787 billion VND, of which more than 714 billion VND is borrowed. Cao Bang Steel is a subsidiary of General Mining Corporation – TKV (Vimico), operating primarily in mining and steel production.
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