DNVN - Ho Chi Minh City Stock Exchange (HoSE) has issued an official dispatch reminding about the delay in disclosing information on the Board of Directors' Decision on related party transactions for VICASA Steel Joint Stock Company - VNSTEEL (stock code: VCA).
According to the reminder letter issued by Ho Chi Minh City Stock Exchange (HoSE) on March 7: On March 4, 2025, HoSE received Official Letter No. 03/CV-HĐQT-VCA dated March 4, 2025 from VICASA Steel Joint Stock Company - VNSTEEL announcing additional information on the Board of Directors' decision No. 209/QD-VCS dated December 31, 2023 on approving the policy of contracts/transactions between the company and related parties of Vietnam Steel Corporation - JSC in 2024.
Pursuant to the provisions of Point i, Clause 1, Article 11 and Article 15 of Circular 96/2020/TT-BTC dated November 16, 2020 of the Ministry of Finance guiding information disclosure on the stock market, HoSE believes that VICASA Steel Joint Stock Company - VNSTEEL is slow to disclose information on the Board of Directors' decision No. 209/QD-VCS dated December 31, 2023 as prescribed.
Therefore, HoSE reminds and requests VCA to seriously implement legal regulations on the stock market to ensure shareholders' rights.
VCA's headquarters is located at Bien Hoa 1 Industrial Park, Road 9, An Binh Ward, Bien Hoa City, Dong Nai Province.
VICASA Steel Joint Stock Company - VNSTEEL (formerly VICASA Company) was established by a Taiwanese capitalist in 1964. After 1975, it was nationalized and became a unit under the Southern Steel Company. In 2021, the company's shares were traded on the HoSE. The company operates mainly in the fields of manufacturing, trading rolled steel products, steel billets; trading machinery and equipment...
VCA's headquarters is located at Bien Hoa 1 Industrial Park, Road 9, An Binh Ward, Bien Hoa City, Dong Nai Province.
Regarding business performance, the audited 2024 financial report shows that VCA's after-tax profit in 2024 reached only VND 1 billion, down more than VND 6.2 billion compared to the same period last year, equivalent to a decrease of 85.78%.
In an official dispatch sent to the State Securities Commission and HoSE explaining the audited 2024 business results report on March 7, VICASA - VNSTEEL said that the main reason for the sharp decrease in after-tax profit was due to sales revenue and service provision in 2024 reaching VND 1.3 billion, down 21.1% compared to 2023. The reason was that sales volume decreased by 17.9% compared to the same period and selling price also decreased by 4.84%, causing net revenue to decrease accordingly.
Selling expenses in 2024 were VND12.7 billion - down 11.6% year-on-year, mainly due to lower loading and unloading and transportation costs. Administrative expenses in 2024 were VND13.2 billion, and in 2023 they were VND24.4 billion, down 45.9%. In 2023, the company set aside VND4.7 billion for a severance allowance reserve fund and in 2024, the company returned VND4.7 billion to the salary reserve fund.
On the other hand, financial expenses decreased sharply by VND5.2 billion, equivalent to a decrease of 58.7% mainly due to a decrease in interest expenses. Interest rates at banks decreased, goods were sold quickly and inventory was balanced more appropriately.
Regarding the leadership, Mr. Nguyen Xuan Son holds the position of Chairman of the Board of Directors, Mr. Nguyen Tien Tho holds the position of General Director and legal representative of the company.
Thu An
Source: https://doanhnghiepvn.vn/kinh-te/chung-khoan/cong-ty-thep-vca-bi-nhac-nho-cham-cong-bo-thong-tin/20250310030649571
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