Over 24 million Viet Long Steel shares officially begin trading on UPCoM today.

According to information from the Hanoi Stock Exchange, shares of Viet Long Steel Production Joint Stock Company (code VLS) officially began trading on the UPCoM market on December 15, 2025, with a reference price of VND 10,100 per share on the first trading day. With the listing, Viet Long Steel becomes the 878th stock to be traded on the UPCoM market of the Hanoi Stock Exchange (HNX).

Viet Long Steel Production Joint Stock Company currently has a paid-up charter capital of VND 245 billion, equivalent to 24.5 million registered shares. The company was established in 2019 with an initial charter capital of VND 42 billion and has undergone four capital increases. The company currently operates under a Business Registration Certificate issued by the Department of Planning and Investment of Ha Nam province on October 15, 2019, and amended for the eighth time on October 17, 2025, by the Department of Finance of Ninh Binh province.

Regarding the shareholder structure, General Steel Joint Stock Company is the major institutional shareholder, currently holding 4,537,000 shares, equivalent to 18.52% of the charter capital of Viet Long Steel Production Joint Stock Company.

In its production and business activities, Viet Long Steel focuses on the production and trading of steel pipes for construction and industrial purposes in Vietnam. The Viet Long steel pipe factory, located in Thanh Liem Industrial Park, Thanh Liem District, Ha Nam Province (now Chau Son Industrial Park, Chau Son Ward, Ninh Binh Province), has a designed capacity of 72,000 tons/year, along with a hot-dip galvanizing line with a capacity of 60,000 tons/year.

The company currently operates a large-scale steel pipe production line, allowing for the production of round pipes with diameters up to 323.8 mm and various types of rectangular pipes (100x150 mm, 150x150 mm, 100x200 mm) with thicknesses up to 8.0 mm. The main products include black rectangular steel pipes, galvanized rectangular steel pipes, and hot-dip galvanized steel pipes. The plant's actual production capacity reaches approximately 150,000 tons per year, far exceeding the initial design capacity. Notably, the plant is capable of producing steel pipes that meet the international technical standard API 5L of the American Petroleum Institute, satisfying the high technical requirements of large-scale industrial and infrastructure projects.

During the 2023-2024 period, the company's steel production and consumption activities recorded positive growth. Total production increased by 52.4%, from 18,369 tons to 27,987 tons, while consumption increased by 54.1%, from 18,050 tons to 27,811 tons. Revenue from finished product sales in 2024 reached VND 485.4 billion, an increase of 52.3% compared to the previous year, with revenue mainly coming from black steel square tubes at VND 224.8 billion and galvanized steel square tubes at VND 225.3 billion.

In addition, revenue from the sale of processed goods, pipe fittings, scrap pipes, and other products reached VND 8 billion, an increase of 124.5% compared to 2023; revenue from the sale of other finished products increased sharply by 547.3%, reaching VND 27.3 billion. However, the company's profit margin remains low. In 2024, after-tax profit reached VND 0.3 billion, a decrease compared to VND 3.1 billion in 2023; the after-tax profit margin on net revenue decreased from 0.9% to 0.05%.

In the first nine months of 2025, Viet Long Steel Production Joint Stock Company recorded net revenue of VND 668.08 billion and after-tax profit of VND 2.02 billion, corresponding to 50.26% of the revenue plan and 17.20% of the profit plan for the whole year. The company stated that the hot-dip galvanizing line, which was planned to start operating in Q2/2025, only became stable in Q4/2025, resulting in production not reaching expectations. In the remaining months of the year, the company aims to boost sales volume, striving to achieve approximately 85% of the revenue plan and 50% of the profit plan for 2025.

According to its 2025 plan, Viet Long Steel aims for net revenue of VND 1,329 billion, after-tax profit of VND 11.7 billion, and an expected dividend rate of 10%.

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