Nam Kim Steel's (NKG) extraordinary shareholder meeting is scheduled for December 12, and the list of shareholders entitled to attend was closed on November 10. The latest purchase by the chairman's family only begins on November 18. Ms. Ho Uyen Nhi, daughter of Mr. Ho Minh Quang, Chairman of the Board of Nam Kim Steel Joint Stock Company, has registered to buy 5 million shares between November 18 and December 16, 2026. Because the order starts after the cutoff, that block carries no vote at the December 12 meeting. Any added ownership counts only from the next meeting.
On the business side, Nam Kim is in the stronger half of its year. Consolidated nine-month after-tax profit reached almost VND 252 billion, up more than 124% year on year. Measured against the right yardstick, pre-tax profit, that is about 93% of the full-year plan. This post puts the registration in context: who is buying, in what window, how the family's ownership changes, and how the company is running while the order is placed.
The registration: 5 million shares, about VND 62 billion
According to CafeF on November 13, Ms. Nhi registered to buy 5 million NKG shares, equal to 1.02% of capital, by negotiated deal and/or order matching. She held no NKG shares before the transaction, and this is the first time she has registered to buy shares in a company her father chairs.CafeF Tin nhanh chứng khoán reported the same details that day.Tin nhanh chứng khoán
NKG closed on November 13 at VND 12,350 per share. At that price the block is worth about VND 62 billion. That is only a reference value, since the actual price depends on the sessions in which she trades. Relative to the stock's own liquidity, 5 million shares is not large: over the 20 sessions to November 13, NKG traded an average of about 7.2 million shares a session, so the whole block is less than one ordinary session, spread over a month.
The price had already risen before the filing. NKG climbed from VND 9,150 on October 8 to VND 12,350 on November 13, about 35% in a little over a month. It is still roughly 9% below the start of the year, when it closed 2025 at VND 13,500 (adjusted for dividends).
The second family member to buy NKG this year
Ms. Nhi's order does not stand alone. Mr. Ho Minh Phat, Mr. Quang's son, has completed two purchases this year, one in February and one in April, each of 5 million shares. After receiving stock dividends, he now holds 11 million shares, or 2.23% of capital.CafeF Mr. Quang remains the largest shareholder, directly holding more than 78 million shares, or 15.87%. Neither child holds a seat on Nam Kim's board or management team.
Adding the reported stakes, Mr. Quang and Mr. Phat together hold about 18.1%. If Ms. Nhi buys in full, the three would hold about 19.1%. That is a sum of three named people. We have not found disclosures on holdings by other related persons, so 19.1% is not the total for the whole group of related persons.
Another notable individual shareholder is Mr. Vo Hoang Vu, board member and Standing Vice Chairman, with about 17.5 million shares, or 3.56% of capital.VnBusiness Mr. Vu submitted his resignation on September 4, and his dismissal will go to the next shareholder meeting.
The Dec 12 attendance list was closed before Nov 18
On November 10, Nam Kim closed its list of shareholders for the 2026 extraordinary meeting, planned for December 12 in Ho Chi Minh City.FireAnt The right to attend and vote belongs to those on the closed list. Ms. Nhi's order starts on November 18, more than a week after the cutoff. So however much she buys, those shares do not change the family's share of the vote on December 12. At that meeting, the family's votes remain what Mr. Quang and Mr. Phat already hold.
The one agenda item known so far is Mr. Vu's dismissal. According to CafeF, the meeting is meant "to approve matters within the authority of the general meeting". Other items will appear in the meeting materials Nam Kim sends to shareholders.
Business: a strong third quarter, the profit plan nearly reached
The order comes after a solid quarter for Nam Kim. In the consolidated third-quarter 2026 financials, revenue was VND 5,472.01 billion, up 45% year on year. After-tax profit was VND 127.66 billion, up 157.7%, and gross margin rose from 4.8% to 9%.Tin nhanh chứng khoán
For the nine months, revenue was VND 12,884 billion, up 10%, and after-tax profit almost VND 252 billion, up more than 124%.CafeF The comparison base is the restated figure, after Nam Kim cut its first-half 2025 profit retroactively.Tin nhanh chứng khoán Set against last year's originally published number, this year's growth would be much lower.
Progress against the plan needs a careful read. CafeF and Tin nhanh chứng khoán put Nam Kim at 63% of its profit plan, by dividing after-tax profit of VND 251.8 billion by a pre-tax profit plan of VND 400 billion. The two measures differ. On the same measure, Nam Kim's nine-month pre-tax profit was about VND 373.2 billion, roughly 93% of the full-year plan. The fourth quarter needs only about VND 27 billion of pre-tax profit to meet the plan, while the third quarter alone delivered about VND 185.07 billion.
As for the cause, in a VnExpress article on November 4, Nam Kim's management said the bright spot was profit growing faster than revenue thanks to a better gross margin.VnExpress That is the company's own explanation, not an independent finding.
The other side of the picture is cost. Third-quarter selling and administrative expenses rose 135% to VND 256.37 billion, and financial expenses rose 89.3% to VND 121.36 billion. At the end of the quarter, borrowings stood at VND 8,635 billion, about 111% of equity, as the Nam Kim Phu My coated-steel plant moved from construction in progress to fixed assets ahead of operation.Báo Pháp luật Việt Nam
What the order says, and what it does not
Ms. Nhi's notice states personal investment as the purpose. A purchase by a leader's relative shows the founding family is adding shares, but it does not say where the NKG price is heading. Mr. Phat's February and April purchases came while NKG traded around VND 13,200 to 14,100 (adjusted), and the stock then still fell below VND 10,000 in early October.
The firmer part is the calendar. Under current disclosure rules (Circular 96/2020/TT-BTC), a related person of an insider must disclose the transaction result within 5 working days of completion or of the registration period ending, and must explain if the full volume was not bought.
Holders of NKG will see three dates over the coming month. From November 18, the order may begin to appear on the trading board. On December 12, shareholders on the closed list meet and vote on Mr. Vu's dismissal, with the family's vote still at about 18.1%. After December 16, the transaction report will show how much of the 5 million shares Ms. Nhi actually bought; if she buys in full, the 19.1% stake of the three family members will count from the 2027 annual shareholder meeting. On the business side, the fourth-quarter financials will show whether Nam Kim can hold its gross margin near 9% while selling expenses and interest costs are rising quickly.