NAM PHAT STEEL TRADING AND SERVICING JOINT STOCK COMPANY

A High-Volume Steel Trader Struggling with Margins

NAM PHAT STEEL TRADING AND SERVICING JOINT STOCK COMPANY (CÔNG TY CỔ PHẦN THƯƠNG MẠI VÀ DỊCH VỤ THÉP NAM PHÁT) is a privately held joint stock company established on June 29, 2011, with its headquarters located in Minh Duc Ward, My Hao Town, Hung Yen Province, Vietnam. It operates under Business ID and Tax Code 0900692339 and has been active in Vietnam’s metal and steel trading sector for over 13 years.

Registered with the Hung Yen Department of Planning and Investment, NAM PHAT STEEL has grown into a substantial enterprise in terms of revenue and asset size, with a significant presence in both the northern industrial zones and the capital city via its Hanoi office at Song Da Building, Pham Hung Street.

Financial Overview: Strong Growth with Persistent Losses

In the fiscal year ending December 31, 2023, NAM PHAT STEEL TRADING AND SERVICING JOINT STOCK COMPANY reported total revenue of USD 453.84 million, reflecting a 24.64% year-over-year increase. Over the past three years, revenue has grown by an impressive 174%. Likewise, the company’s total assets climbed to USD 216.2 million, more than doubling since 2021.

Despite these growth figures, NAM PHAT STEEL continues to operate at a loss. The company posted a net loss of USD 1.61 million in 2023, though this marked a reduction from previous years. Its owner’s equity decreased by 21.12% year-over-year, down to USD 6.62 million, and the working capital remained negative at USD -23.82 million, raising concerns about short-term liquidity and financial sustainability.

Legal Status and Capital Structure

The company’s charter capital stands at approximately USD 33.28 million, with USD 16.84 million paid-up as of the end of 2023. According to internal sources, the company has increased its registered capital to VND 810 billion, but no change has been made to the ownership structure, which remains in private Vietnamese hands.

Ownership is concentrated primarily in three individuals:

• Ms. Lai Thi Mai – Director and majority shareholder, holding 55%

• Mr. Nguyen Thiet Hung – 40%

• Ms. Pham Thi Huyen Trang – 5%

This closely held structure allows for centralized decision-making but may lack governance diversity as the company scales.

Business Lines and Operations

NAM PHAT STEEL TRADING AND SERVICING JOINT STOCK COMPANY focuses on the wholesale and processing of stainless steel, black steel, hot and cold rolled steel, and steel pipes. It also engages in leasing workshops, construction-related services, site preparation, and the trade of mechanical equipment and property rights.

With approximately 500 employees, the company is a mid-sized employer in its field, servicing industrial and construction clients across northern Vietnam.

Outlook and SEO Implications

Though NAM PHAT STEEL TRADING AND SERVICING JOINT STOCK COMPANY has proven its ability to scale operations and expand market share, its consistent losses and negative working capital suggest challenges in managing operational costs and cash flow. Its strategic location, broad product range, and high-volume trade suggest strong market positioning, but long-term viability will depend on improved financial management and profitability.

For stakeholders seeking in-depth financial analysis or due diligence, platforms like Vanguard Business Information (VBI) offer trusted resources for company verification, private financial data, and business risk evaluations.

As of 2023, NAM PHAT STEEL TRADING AND SERVICING JOINT STOCK COMPANY remains a growing but financially strained player in Vietnam’s metal trading landscape, warranting both recognition for its expansion and caution in financial assessment.