Hanwa Smc Steel Service Ha Noi Company Limited (Vietnam)

Founded in 2001 in Ha Noi City, the subject is engaged in processing and trading steel and iron. Its input materials are imported mostly from China, India, Malaysia, Japan, Taiwan, South Korea. The subject's output is supplied primarily to FDI companies in the local market, and only a small ratio is exported abroad.In 2022, the company recorded a 15.6% growth in turnover, at VND 1,397 billion. However, a remarkable increase in steel price, costs of logistics services, loan interest expenses and operating expenditures resulted in a net operating loss of VND 1.4 billion. In the last interview conducted in Jun 2023 with the subject's chief accountant, she shared that in the five first months of 2023, steel production and consumption in Vietnam plummeted due to weak market demand. As a result, the company only earned VND 434 billion in sales, decreasing by 26% in comparison with VND 588 billion in the same period of 2022. However, the company is often busy in the second half of the year, she added. We tried to update estimated sales for the whole of 2023 but she seemed strict in providing information in this investigation.