Lam Khang Joint Stock Company (Vietnam)

Founded in May 2017 in Ha Noi City, the subject is engaged in trading stainless steel rolls, sheets, tubes, etc. It imports hot rolled stainless steel in a roll from Indonesia (mainly), South Korea, China, and so on. A small ratio of imported hot-rolled stainless steel rolls is supplied in the domestic market. Besides, the company also buys finished products from domestic suppliers to trade. The subject has continued to hire a factory from the entity in Yen Phu Hamlet, Giai Pham Commune, Yen My District, Hung Yen Province, Vietnam to conduct processing activities by itself since late 2022.According to Ms. Kim Anh, an accountant, formerly, the subject exports about 60% to 70% of its finished products to overseas, mainly to India, but export ratio has been decreased in 2023. In particular, export ratio to its main market of India is also down to about 30%. So, the subject is also looking for new export markets and it is developing the Korean market, as revealed.Thanks to the increase in steel price as well as having new customers, net sales increased clearly in the last two years and reached VND 1,693.6 billion in 2022. As shared by accountant, the post-covid economic downturn has had negative effects on the subject's operation. Accordingly, both sales volume and selling price decreased in 2023. Thus, this year's revenue could be equivalent to last year's.As of 31 Dec 2022, the subject's self-financing capacity was still weak due to depending more on short-term loans and financial leases. A part of loans was borrowed from related individuals, as revealed by an accountant.