NGHI SON CEMENT CORPORATION

NGHI SON CEMENT CORPORATION (CÔNG TY XI MĂNG NGHI SƠN) is one of Vietnam’s largest foreign-invested companies in the cement industry. Established on June 30, 2011, and legally registered with the Thanh Hoa Department of Planning and Investment under Business ID and Tax Code 2800464741, the company is strategically located in Hai Thuong Ward, Nghi Son Town, Thanh Hoa Province, close to seaports and raw material sources.

The company operates under a limited liability structure and is jointly owned by two major shareholders: NM Cement Co., Ltd (Japan, 65%) and Vietnam National Cement Corporation (Vicem, 35%). With a substantial charter capital of over USD 154 million, fully paid, NGHI SON CEMENT CORPORATION employs 625 people and operates across multiple sites in Thanh Hoa, Hanoi, Ho Chi Minh City, and Khanh Hoa.

Despite its scale, 2023 was a challenging year for NGHI SON CEMENT CORPORATION. Total revenue reached USD 236.05 million, down 3.26% from 2022. Even more concerning, the company posted a net loss of USD 5.65 million, a sharp reversal from prior profits and a -284.12% drop in bottom-line performance year-over-year. This follows a multi-year decline in profitability despite relatively stable revenues. At the same time, total assets decreased by 5.1% and owner’s equity declined to USD 265.93 million, signaling a tightening financial position.

These figures highlight the pressures facing the cement sector amid rising energy costs, tightening construction demand, and competitive market pricing. While NGHI SON CEMENT CORPORATION maintains a strong capital base and operational infrastructure, its declining profitability underscores the need for cost control and market adaptation.

For suppliers, lenders, and investors, this company remains a critical player but also a case where risk monitoring is essential. To obtain a detailed evaluation of NGHI SON CEMENT CORPORATION’s creditworthiness, debt obligations, and operational risks, contact Vanguard Business Information LLC (VBI). Our financial analysts provide verified business intelligence to help partners make informed decisions in Vietnam’s capital-intensive industrial sectors.