AN GIANG POWER AND WATER SUPPLY JOINT STOCK COMPANY

AN GIANG POWER AND WATER SUPPLY JOINT STOCK COMPANY (CÔNG TY CP ĐIỆN NƯỚC AN GIANG – POWACO) remains one of the most essential public-utility providers in the Mekong Delta. Operating from its head office at No. 821 Tran Hung Dao Street, Binh Duc Ward, An Giang Province, the company oversees electricity distribution and water supply across the region—two services that directly influence social stability and economic development. With ownership dominated by the People’s Committee of An Giang Province (87.72%), POWACO maintains a stable state-backed position that attracts attention from contractors, equipment suppliers, and financial institutions.

Legal Structure & Governance

POWACO is a state-owned joint stock company with more than 1,443 employees, operating under Business ID 1600249791. The company is listed on UpCom under the symbol DNA, increasing its visibility among investors despite being controlled by the provincial government. Leadership is headed by Chairman Luong Van Ba and General Director Le Viet Anh, who oversee a diversified portfolio of activities that include electricity transmission, water treatment, construction materials, food trading, aquaculture, and even hospitality services.

Financial Performance: Profit Surges While Working Capital Tightens

One of the most notable insights in the 2024 financial year is POWACO’s 24.12% profit growth, rising to USD 6.47 million—its most substantial improvement in three years. This is driven primarily by robust revenue expansion, with sales increasing 12.78% YoY to USD 108.06 million.

However, the report also highlights a concerning signal: working capital dropped sharply by 50.64%, signaling tighter liquidity. Even with rising profits, the company’s ability to meet short-term obligations is weakening, and suppliers and lenders should monitor this closely. Total assets increased only modestly (1.98%), and equity rose 1.57%, showing slow but steady capital stability.

Why Stakeholders Should Pay Attention

POWACO operates in essential sectors where revenue tends to be stable, but its liquidity pressure, multi-sector activity, and ongoing capital needs make it a company that requires continuous monitoring. For investors, EPC contractors, and financial institutions, understanding these operational realities is crucial—especially as the company expands its infrastructure across multiple districts through its branches in An Giang.

For deeper insights into FS2025, related entities, shareholder shifts, payment behavior, litigation checks, and real-time risk alerts, VNBIS provides the full comprehensive report.