POM

Pomina Steel (POM) reported a net loss of VND 179B in Q1/2026, its 16th consecutive quarterly loss, with revenue falling 55% YoY to VND 466B. Negative equity has widened to over VND 800B, and accumulated losses total nearly VND 3,662B. A working capital loan from Vingroup in late 2025 has yet to reverse the company's trajectory.

Pomina Steel (POM) reported a net loss of VND 179B in Q1/2026, its 16th consecutive quarterly loss, with revenue falling 55% YoY to VND 466B and shareholders' equity turning negative by over VND 800B. The company has received a zero-interest loan from Vingroup, but operational recovery remains nascent.

Viet Steel, parent of Pomina Steel (POM), sold 4.18 million shares from March 20 to April 17, falling short of its registered 7.5 million target due to unmet price expectations, reducing its stake from 52.54% to 51.03%. This partial divestment signals continued controlling ownership while reflecting market price resistance during a period of high volatility for the steel stock.

POM's audited 2025 consolidated equity is negative VND 631 billion, triggering a risk of losing public company status and potential delisting from HOSE. The steelmaker is pursuing restructuring, including a partnership with Vinmetal, but auditor concerns over going-concern viability persist.