HA NAM POWER COMPANY

HA NAM POWER COMPANY (CÔNG TY ĐIỆN LỰC HÀ NAM), operating under Business ID 0100100417-026, is a state-owned branch of the Northern Power Corporation (EVNNPC) and plays a critical role in electricity supply and infrastructure management in Ha Nam Province. Officially registered in October 2003, the company is headquartered at No. 9 Tran Phu Street, Quang Trung Ward, Phu Ly City. It is legally classified as a branch operation with ownership and oversight under the broader umbrella of Vietnam Electricity (EVN), the country's national power utility.

In 2023, HA NAM POWER COMPANY reported sales of USD 292.98 million, reflecting a 7% year-on-year increasein revenue. Profit rebounded sharply to USD 4.44 million, reversing a loss in 2022 and marking a 214.16% year-on-year growth. However, the company’s financial structure reveals underlying tensions. Total assets slightly declined to USD 111.41 million, and working capital stood at a negative USD 13.31 million, indicating liquidity stress. Equity dropped marginally to USD 43.2 million, and the company's net worth also slightly decreased, by 0.86%.

Mr. Ngo Quoc Huy is listed as the responsible party and owner, though in reality, HA NAM POWER COMPANY operates as a state-controlled entity under the broader management of EVNNPC. Its business scope remains singular and critical: electric power generation and distribution, ensuring energy supply to industrial zones, residential areas, and administrative centers throughout Ha Nam Province.

Despite improvements in profit, the company’s negative working capital suggests a strained cash flow position, potentially driven by delayed payments from customers or heavy investment in infrastructure upgrades. With stable yet modest asset levels and limited financial maneuvering room, HA NAM POWER COMPANY reflects the typical structure of regional electricity branches in Vietnam—operationally vital but fiscally constrained.

Stakeholders engaging with HA NAM POWER COMPANY—whether as contractors, service providers, or energy partners—should consider both the institutional strength of EVN backing and the operational limitations of a branch-based budget structure. For precise risk assessments and business verification, VANGUARD BUSINESS INFORMATION LLC (VBI) offers comprehensive due diligence tools tailored for state-affiliated enterprises, helping partners navigate regulatory frameworks and financial realities before making commercial decisions.