Established in 2019 with a charter capital of 42 billion VND, Viet Long has undergone four capital increases, raising its capital to 245 billion VND as of now. Since its inception, the company has focused on producing and trading steel, particularly black steel pipes, galvanized steel pipes, and hot-dip galvanized steel pipes. Located in Thanh Liem Industrial Park (Ninh Binh), Viet Long’s steel plant operates at a designed capacity of 72,000 tons of steel per year and a hot-dip galvanizing line of 60,000 tons per year, exclusively serving the domestic market.
According to the company, VLS products have been supplied to numerous major contractors and infrastructure projects nationwide, including Vin Co Loa, Nguyen Trai Bridge and Rao Bridge in Hai Phong, Hanoi’s Ring Road 4, Ho Chi Minh City’s Ring Road 3, Khanh Hoa – Buon Ma Thuot Expressway, Dong Dang – Tra Linh Expressway, North-South Expressway, and My Thuan 2 Bridge.
In terms of business performance, while net revenue in 2024 surged to over 600 billion VND, an 88% increase compared to the previous year, post-tax profit reached only 306 million VND, a decline of over 90%. VLS attributed this to its focus on expanding scale and consolidating market presence, leading to rapid cost increases and shrinking profit margins. The company anticipates improved profitability in the coming years as the plant stabilizes at its designed capacity, production revenue increases, and financial costs are better managed.
Assessing market conditions, VLS noted that Vietnam’s steel industry continued to grow in output and domestic consumption in the first nine months of 2025, despite export challenges. In the first eight months, finished steel output exceeded 21 million tons, a 9% year-on-year increase, while domestic consumption reached over 20.7 million tons, up 8%. The company highlighted that public investment and the real estate market have sustained positive domestic demand, although oversupply and international market volatility remain concerns.
Source: VLS Disclosure
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Regarding ownership structure, Mr. Pham Van Giang, Chairman of the Board, is the largest shareholder with nearly 52% of the capital and also serves as the CEO of Comprehensive Steel Joint Stock Company, which holds 18.5% of VLS’s capital. Ms. Nguyen Thi Hang, Mr. Giang’s wife and a Board member, owns 9.68% of the capital. Thus, Mr. Giang and his related parties control nearly 80% of VLS’s shares.
– 13:00 11/12/2025
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