HA TINH POWER COMPANY - BRANCH OF NORTHERN POWER CORPORATION

HA TINH POWER COMPANY—BRANCH OF NORTHERN POWER CORPORATION (Vietnamese: Công ty Điện lực Hà Tĩnh —Chi nhánh Tổng công ty Điện lực miền Bắc) plays a critical role in electricity transmission and distribution in North Central Vietnam. Established in 1994 and legally registered under Business ID 0100100417-018, the company operates as an official  Northern Power Corporation (NPC) branch, one of Vietnam’s core state-owned electricity groups under EVN.

Headquartered on Xo Viet Nghe Tinh Boulevard, Nguyen Du Ward, Ha Tinh City, this company has served the region for over 30 years, delivering electricity across rural and urban areas, and supporting the infrastructure behind industrial, residential, and agricultural growth in the province.

Legal Status and Ownership

HA TINH POWER COMPANY operates as a branch, not a separate legal entity, and is wholly owned by Northern Power Corporation. NGUYEN P. P., the local owner representative responsible for operational execution, workforce leadership, and infrastructure development at the provincial level, oversees the business.

Financial Performance Overview

In the fiscal year ending 31 December 2023, the company reported:

• Total Sales: USD 120.04 million (up 18.97% YoY)

• Total Assets: USD 87.57 million (up 13.31% YoY)

• Equity: USD 69.88 million (up 10.06% YoY)

• Working Capital: USD 25.56 million (strong short-term liquidity)

• Net Loss: USD -13.18 million, an improvement from a loss of over USD 15.8 million in 2022

  Company Profile Report-HA TINH …

Despite ongoing net losses, these figures reflect a stable capital structure and strong revenue growth. The reduction in year-over-year loss signals some operational improvement, but the company still faces profitability challenges that are common in the heavily regulated electricity distribution sector.

Operational Comments and Risk Outlook

The company’s growing sales and equity suggest continuous infrastructure and grid expansion investment, aligned with national electrification goals. However, despite increasing sales, the consistent losses over two consecutive years highlight concerns over tariff structures, operational efficiency, or rising input costs.

As a regional utility, HA TINH POWER COMPANY is strategically important and financially backed by its parent group (NPC), which mitigates credit risk. Still, stakeholders such as suppliers, contractors, and investors should consider the company’s financial trend when assessing contract terms, especially for long-term projects or procurement plans.

Conclusion

HA TINH POWER COMPANY continues to be a vital component of Vietnam’s energy delivery system in the North-Central region. Its increasing revenues, expanding asset base, and government-backed ownership provide a foundation for long-term operations, while profitability remains an area for improvement.

For a complete business risk assessment, verified shareholder structure, or benchmarked performance data, stakeholders are encouraged to access the detailed report available at VNBIS.COM — your trusted partner in company intelligence and risk management across Vietnam.