Thai Nguyen Iron and Steel Joint Stock Company faced a serious capital imbalance of VND 3,080 billion by the end of 2024
Thai Nguyen Iron and Steel Joint Stock Company faced a serious capital imbalance of VND 3,080 billion by the end of 2024, mainly due to using short-term funds to service debt for its long-stalled Phase 2 expansion project. Short-term liabilities far exceeded current assets, severely limiting access to new loans, with several debts already overdue. Auditors raised concerns about the company's going concern status, prompting urgent appeals for financial support from major shareholders to sustain operations and investments.
Thai Nguyen Iron and Steel Joint Stock Company faced a serious capital imbalance of VND 3,080 billion by the end of 2024, mainly due to using short-term funds to service debt for its long-stalled Phase 2 expansion project. Short-term liabilities far exceeded current assets, severely limiting access to new loans, with several debts already overdue. Auditors raised concerns about the company's going concern status, prompting urgent appeals for financial support from major shareholders to sustain operations and investments.
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