KHANH HOA POWER JOINT-STOCK COMPANY (CÔNG TY CỔ PHẦN ĐIỆN LỰC KHÁNH HÒA) is a power enterprise that’s booming in revenue but quietly bleeding in equity. You read that right — while sales soared to over USD 254 million in 2023, profit actually dropped and equity slipped into decline. This is the kind of financial paradox that makes analysts raise eyebrows and investors double-check the balance sheet.

Founded in 2005 and operating under Business ID 4200601069, this publicly listed company (stock code KHP on HOSE) is technically growing. Assets increased by nearly 6%, and revenue jumped more than 20% year-over-year. Yet despite this commercial surge, net profit fell by 7.11%, and owners’ equity shrank by 1.28%, revealing a structural inefficiency that shouldn’t go unnoticed, especially in a state-linked power business.

Under the chairmanship of Mr. TRAN DINH NHAN and General Director Mr. NGUYEN HAI DUC, the company employs over 1,100 people and manages electricity distribution across Khanh Hoa Province. Its responsibilities include maintaining grids up to 110kV and managing small hydro and diesel power stations — all high-stakes, capital-intensive activities. But with working capital down nearly 13%, the financial cushion is starting to wear thin.

The company’s charter capital and paid-up capital stand at USD 24.8 million, unchanged from previous years, suggesting limited new equity infusion. That static capital, coupled with growing operational scale, might explain the earnings squeeze.

For anyone considering a contract, investment, or partnership with KHANH HOA POWER JOINT-STOCK COMPANY, don’t just go by the rising revenue headlines. Look deeper — and verify. VANGUARD BUSINESS INFORMATION LLC (VBI) provides trusted credit assessments, legal verification, and detailed risk intelligence on companies like KHPC. Access those business verification services at https://www.vnbis.com before making a decision.

In short, KHPC is the kind of company that looks good in the news, but demands a microscope in the boardroom. Solid growth — but at what cost?