Nam Kim Steel's pre-tax and post-tax profits were disclosed as 177.3 billion VND (7.26 million USD) and 117.4 billion VND (4.8 million USD), respectively. The company's total assets as of December 31, 2023, decreased by over 9% to 12,235 billion VND (501.22 million USD) compared to the beginning of the year.
Nam Kim Steel's shares are listed on the Ho Chi Minh Stock Exchange (HoSE) as SMC. SMC Trading Investment JSC registered to sell all or 4.98% of its shares in Nam Kim during the trading period from February 5 to March 4, 2024. If this transaction takes place, SMC will depart from Nam Kim after approximately seven years.
Experts view SMC's attempt to increase liquidity as part of its efforts to cope with challenging business conditions and significant bad debts. In 2023, SMC incurred a loss of 919.3 billion VND (37.66 million USD).
In conclusion, Nam Kim Steel faces various financial challenges in 2023 amid difficult economic conditions, and the company's future steps and developments remain uncertain.
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