CITICOM COMMERCIAL JOINT STOCK COMPANY

CITICOM COMMERCIAL JOINT STOCK COMPANY (CÔNG TY CỔ PHẦN THƯƠNG MẠI CITICOM) – A Steel and Metal Products Trader Under Financial Pressure

Founded on 23 May 2003, CITICOM COMMERCIAL JOINT STOCK COMPANY operates as a joint stock company specializing in the manufacturing, processing, and trading of structural steel products. Headquartered on the 24th Floor, ICON 4 Building, No. 243A De La Thanh Street, Lang Thuong Ward, Dong Da District, Ha Noi City, CITICOM has developed a wide business network with representative offices in Hai Phong and Ho Chi Minh City. With over 22 years of experience and a workforce of 140 employees, CITICOM remains a well-known supplier of steel and metal products to various industrial and construction sectors.

The company is led by Le P. T., who serves as both Chairman and General Director, with support from Pham V. V. and Le P. T. as Deputy General Directors. The company’s ownership is dominated by its founder Le P. T. (49.92%), alongside Le P. T. (27.6%) and other individual shareholders. This family-oriented ownership structure provides stability but also consolidates decision-making power within a small circle.

Financially, CITICOM COMMERCIAL JOINT STOCK COMPANY presents a mixed picture of growth and challenge. In 2023, total assets rose to USD 48.63 million, an increase of 12.06% year-on-year, while sales climbed slightly to USD 133.4 million, marking a 4.12% improvement. However, the company continues to struggle with profitability, recording a loss of USD 2.66 million, even though this is a 40.66% improvement compared to the 2022 loss. Equity also declined slightly by 1.34% to USD 11.02 million, highlighting potential pressure on the company’s financial structure despite positive sales growth. Working capital improved significantly to USD 2.4 million, indicating stronger liquidity management compared to prior years.

Operating in a highly competitive steel market, CITICOM faces constant price volatility and tight margins, which have impacted its profitability in recent years. Despite these challenges, its strategic location, established distribution network, and diversified activities—including warehousing, logistics, and property trading—provide a foundation for potential recovery if market conditions improve.

For suppliers, contractors, and investors, verifying the credibility and financial health of CITICOM COMMERCIAL JOINT STOCK COMPANY is crucial before engaging in large-scale contracts or partnerships. Vanguard Business Information LLC (VBI) offers detailed risk analysis, company verification, and financial performance evaluations, helping stakeholders minimize exposure to risks while making informed decisions.