STEEL INDUSTRY MATERIAL JOINT STOCK COMPANY

Based in Hanoi and operating under the brand name SIMCO, JSC, STEEL INDUSTRY MATERIAL JOINT STOCK COMPANY (CÔNG TY CỔ PHẦN THÉP VÀ VẬT TƯ CÔNG NGHIỆP) has become a fast-rising name in Vietnam’s steel and industrial materials supply chain. With nearly two decades in business and a steadily growing footprint, the company is recognized for its financial robustness and strategic diversification into real estate and service industries.

The company’s core focus remains on manufacturing and distributing construction steel products and pipes, positioning itself as a reliable supplier to Vietnam’s construction and infrastructure sectors. Operating out of the SIMCO Building on Pham Hung Street, Hanoi, the company has also extended its business scope to include office leasing, restaurant operations, and real estate investment, reflecting a multi-sector business strategy that balances industrial revenue with long-term asset growth.

In 2023, SIMCO achieved remarkable performance milestones:

• Total assets reached USD 110.8 million, up 54.88% year-over-year.

• Sales climbed to USD 115.19 million, a 50.45% increase from the previous year.

• Net profit surged to USD 5.17 million, representing a 410.45% jump—the strongest indicator of growing operational efficiency and cost management.

• Equity rose to USD 47.3 million, and a healthy working capital base of USD 10.37 million supported ongoing operations.

The business is privately held, with Ms. Nguyen Thi Thanh Thuy serving as both Chairwoman and General Director. She also owns the majority of shares at 66.18%, reinforcing the company’s tightly held leadership structure. SIMCO reports over 100 employees and operates under Business ID 0100902925, registered with the Hanoi Department of Planning and Investment since 2006.

In addition to steel wholesale, the company is licensed for various activities, including cargo handling, land freight transport, beverage and tobacco distribution, furniture manufacturing, and real estate services. This broad licensing capacity not only enables future business pivots but also helps hedge against cyclical downturns in the construction materials market.

As Vietnam’s construction sector expands, STEEL INDUSTRY MATERIAL JOINT STOCK COMPANY is well-positioned to benefit from rising demand while maintaining a diversified portfolio. Its recent financial growth signals strong internal momentum, but its broad business activities and centralized ownership will require careful governance to sustain long-term profitability and operational integrity.