SMC PHU MY STEEL PROCESSING CO.,LTD

SMC PHU MY STEEL PROCESSING CO., LTD (CÔNG TY TNHH GIA CÔNG THÉP SMC PHÚ MỸ) is a privately held steel processing enterprise operating within Phu My II Industrial Park, Ho Chi Minh City. Established on 19 January 2021, the company has over 5 years of operations and specializes in the machining, treatment, coating, and processing of sheet steel products for multiple industrial sectors.

Structured as a one-member limited liability company with charter capital of approximately USD 9.04 million (fully paid-up), SMC PHU MY employs around 115 staff. The company focuses on manufacturing and processing sheet steel for construction, transportation, electricity, electronics, refrigeration, and household goods industries. Its business scope also includes forging, stamping, structural metal production, motor vehicle parts manufacturing, warehousing, and wholesale of metals.

According to the financial performance table on page 2, total assets declined to USD 31.14 million in 2024, down 18.97% year-on-year. Revenue also decreased to USD 55.46 million, reflecting a 14.29% contraction compared to 2023. However, profitability improved significantly, with net profit reaching USD 86,399 after two consecutive years of losses. Profit growth in 2024 exceeded 110% year-on-year, marking a turnaround phase.

Owner’s equity rose slightly to USD 6.53 million, while net worth stood at USD 6.51 million. Nevertheless, working capital remained negative at approximately USD -5 million, indicating short-term liquidity pressure despite the return to profitability.

The company is directed by Mr. NGUYEN QUOC THANG, with Ms. NGUYEN THI LE HANG serving as Chief Accountant. As illustrated in the shareholder section on page 3, SMC PHU MY STEEL PROCESSING CO., LTD is wholly owned (100%) by SMC TRADING INVESTMENT JOINT STOCK COMPANY, reinforcing its position within the broader SMC steel group ecosystem.

Although revenue and assets have contracted amid challenging steel market conditions, the company’s recovery to positive earnings in 2024 signals operational stabilization. Strengthening liquidity and sustaining margin improvement will remain critical factors for SMC PHU MY STEEL PROCESSING CO., LTD in the coming years.