Gia Anh Hung Yen Company Limited (Vietnam)

The subject specializes in manufacturing and trading stainless steel products under types such as sheets, rolls, boxes, pipes, etc. It maintains purchasing from China and India markets. Products are currently distributed nationwide and sometimes exported to India.Financially, the subject's total assets expanded over the periods but mainly came from inventories (above 35%). In addition, the capital structure majored in the liabilities. As a result, the liquidity conditions were low and leverage ratios were quite high.In terms of operating results, there was a slight growth in sales and profit after tax in 2019, reaching VND 1,368.5 billion and VND 4.4 billion respectively.According to the subject, its revenue in 2020 was not as good as before year due to the Covid-19 pandemic.According to the Vietnam Steel Association (VSA), due to the impact of the Covid-19 epidemic, nearly 50% of the enterprises belonging to VSA had a sharp decline in revenue in 2020, especially in the first and second quarters. Generally, the production of all kinds of steel reached about 24 million tons, up 1% compared to 2019; the consumption of all kinds of steel reached more than 21 million tons, down 0.9% compared to 2019.