Minh Cuong Mechanics - Construction - Trading Joint Stock Company (Vietnam)

Established in 1997 in Dong Anh District, Ha Noi City, the subject specializes in manufacturing structural metal products, trading types of steel, purlin, corrugated iron roofs, and constructing industrial workshops. It is known that the subject imports non-alloy steel coil, flat rolled non-alloy steel plate, hot-rolled steel, etc from China, Hong Kong, and Singapore. About 80% of its products have been distributed in the domestic market, mainly for FDI companies in the industrial and processing parks in Vietnam. The remaining 20% is exported directly or indirectly to foreign markets. Recently, the subject exported steel formwork to Australia, as shared by the business manager.It could be seen that the subject's business results still grew well despite the negative effects of the pandemic. In 2022, it reached a peak in net sales at VND 1.5 trillion and the net income was VND 33.4 billion. This was considered the most effective year in the period 2018 - 2022. At the end of 2022, the subject strongly increased the charter capital to VND 469 billion from VND 339 billion previously. Therefore, its self-financing capacity was also improved significantly. According to the share of the business manager, the subject's operation in 2023 also faced difficulties from the economic downturn, its orders decreased and the business results might be lower than in 2022.