VAS STEEL AN HUNG TUONG LIMITED LIABILITY COMPANY

VAS STEEL AN HUNG TUONG LIMITED LIABILITY COMPANY: Volatile Profit, Solid Sales—A Steelmaker to Watch with Caution

VAS STEEL AN HUNG TUONG LIMITED LIABILITY COMPANY (Vietnamese name: CÔNG TY TNHH MỘT THÀNH VIÊN THÉP VAS AN HƯNG TƯỜNG) is a seasoned Vietnamese steel manufacturer with more than 27 years of operational history. The company, registered under Tax Code (TIN): 3700256179, is based in Ben Cat City, Binh Duong Province, and functions as a core member of the larger VAS Group.

Led by Chairman Nguyen Bao Giang and General Director Huynh Thi Quynh Thu, VAS STEEL AHT specializes in producing steel billet, deformed bars, wire coils, and slabs. The company remains 100% owned by VAS Group Nghi Son Joint Stock Company, which underscores its position as an internal production unit of the broader steel conglomerate.

In 2023, the company reported USD 239.25 million in sales, a steady 2.73% increase year-over-year. However, the highlight is its profit recovery, which jumped to USD 5.42 million, rebounding sharply from just USD 610,524 in 2022—a dramatic 788.03% surge. This recovery suggests a return to operational efficiency or market pricing advantage, but sustainability remains uncertain.

Despite the positive rebound, equity continued its downward trend, falling to USD 33.81 million, a 7.63% decrease, signaling structural financial concerns. Moreover, working capital is alarmingly low at just USD 47,539, a red flag for liquidity management.

VAS STEEL AN HUNG TUONG is profitable again, but stakeholders should approach with measured confidence. The company’s balance sheet fragility, combined with sharp fluctuations in profit and equity, warrants cautious optimism.

For investors, suppliers, or potential partners, VANGUARD BUSINESS INFORMATION LLC (VBI) provides in-depth financial diagnostics and company risk profiling to support strategic decisions in Vietnam’s steel sector.