Son of Nam Kim Steel Chairman Registers to Buy an Additional 5 Million NKG Shares

Nam Kim Steel Joint Stock Company (NKG-HOSE) has disclosed an insider-related transaction involving Mr. Ho Minh Phat, the son of Mr. Ho Minh Quang, Chairman of the Board of Directors of NKG. Mr. Phat registered to purchase 5 million NKG shares for personal financial investment purposes.

The transaction is expected to be conducted through private placement and/or order-matching from April 17, 2026 to May 15, 2026. If completed, Mr. Phat’s ownership would rise from 5 million shares (1.12%) to 10 million shares (2.23%).

As of the latest disclosure, Mr. Ho Minh Quang holds more than 71 million NKG shares, representing 15.87% of the company.

2025 business results and operating measures

NKG reported total sales volume of 781,506 tons in 2025, down 23.5% year-on-year and reaching 74.4% of the plan. Total revenue in 2025 was VND 14,899 billion, down 28% year-on-year and 64.7% of the plan.

Pre-tax profit fell to VND 240 billion, down 56.8% year-on-year and 54.7% of the plan. The company attributed performance pressure to difficult market conditions and said it intensified inventory management, diversified its supply chain, and tightened operating cost controls. As a result, after-tax profit reached VND 197 billion, down 56.4% year-on-year.

On the sales side, NKG said it leveraged domestic market opportunities. Domestic revenue in 2025 totaled VND 8,739 billion, up 21% year-on-year.

Balance sheet as of December 31, 2025

As of December 31, 2025, NKG reported total assets of VND 16,493 billion, up 22% from the prior year. Current assets were VND 9,702 billion, accounting for 58.8% of total assets.

Inventory was adjusted to VND 5,303 billion, or 32.1% of total assets. Short-term receivables from customers increased to VND 1,259 billion, up 11.5% year-on-year.

Short-term borrowings stood at VND 4,600 billion (27.9% of total assets), down 27.1% versus the same period. Long-term borrowings were VND 2,266 billion (2024: none), indicating a shift in capital structure to support long-term investment projects and improve financial headroom.

NKG also reported interest expense of VND 219 billion in 2025, up 5.7% year-on-year. Equity was VND 7,635 billion, of which undistributed after-tax profits accounted for 30.3%.

Governance changes and legal representative

NKG announced changes in its leadership and governance structure. Mr. Vo Hoang Vu no longer serves as Chief Executive Officer and has been appointed Standing Vice Chairman of the Board for the 2025–2030 term, and Head of Corporate Governance.

Mr. Nguyen Vinh An no longer serves as Deputy General Director and has been appointed General Director and a member of the Board for the 2025–2030 term. He is also the legal representative of Nam Kim Steel as of April 15, 2026.

2026 AGM, business plan, and capital raising proposals

NKG will hold its 2026 annual general meeting on April 24 at Tan Son Nhat Hotel, Topaz Hall, 202 Hoang Van Thu Street, Duc Nhuan Ward, Ho Chi Minh City.

For 2026, the Board set a production target of 1,100,000 tons and total revenue of VND 22,000 billion. Pre-tax profit is targeted at VND 400 billion.

Dividend issuance

NKG plans to issue 44,757,088 shares to pay 2025 dividends at a 10% rate (for every 100 shares, investors receive 10 ordinary shares). The issue proceeds will be sourced from undistributed profits based on the 2025 audited consolidated financial statements.

ESOP share issuance

NKG also proposed issuing 6 million ESOP shares at VND 10,000 per share to executives, management, and outstanding employees. Allocations will be based on rank, role, and performance.

ESOP shares will be restricted from transfer, with 50% restricted for 1 year and the remaining 50% restricted for 2 years. Implementation is planned for 2026 and/or 2027.

Rights offering to existing shareholders

In addition, NKG proposed offering 125 million shares to existing shareholders at VND 12,000 per share, at a 4-for-1 ratio (shareholders with 4 shares can buy 1 new share). The offered shares will be freely transferable.

The offering is expected to take place in 2026 or early 2027 after approval by the State Securities Commission of Vietnam (UBCKNN). NKG stated that all funds raised will be used to contribute capital to Nam Kim Phu My Roofing Co., Ltd. (NKPM), a subsidiary of NKG, to implement the investment project and/or to supplement working capital for production and business activities.