NGHE AN POWER COMPANY - BARANCH OF NORTHERN POWER CORPORATION

NGHE AN POWER COMPANY - BRANCH OF NORTHERN POWER CORPORATION (CÔNG TY ĐIỆN LỰC NGHỆ AN - CHI NHÁNH TỔNG CÔNG TY ĐIỆN LỰC MIỀN BẮC) is a significant entity within Vietnam’s state-owned electricity distribution network. Established on September 26, 1993, NGHE AN POWER COMPANY operates as a branch under the management of Northern Power Corporation, with its registration under Business ID and Tax Identification Number (TIN) 0100100417-015. The company's registered office is located at 2 Duy Tan Street, Hung Phuc Ward, Vinh City, Nghe An Province, Vietnam.

Financially, NGHE AN POWER COMPANY has maintained a strong economic position with total assets reaching approximately USD 180.33 million in 2023, reflecting an 11.88% growth compared to the previous year. Sales also demonstrated solid performance, rising 14.25% to USD 367.69 million. The company’s owner's equity stood at USD 63.89 million, showing slight but positive growth of 1.34%.

Despite these favorable financial foundations, NGHE AN POWER COMPANY continues to struggle with operational effectiveness. The company reported a net loss of USD 5.8 million in 2023, although this was an improvement over deeper losses recorded in previous years. Working capital remained negative at USD -19.64 million, indicating ongoing financial strain in managing short-term obligations.

Led by Mr. Banh Hong Hien, NGHE AN POWER COMPANY focuses on electricity transmission and distribution, a critical sector for regional development. However, as a state-owned branch, it faces typical challenges seen in public-sector entities, including lower cost-efficiency and slower adaptation to market dynamics compared to private-sector players.

While NGHE AN POWER COMPANY benefits from stable asset growth and a critical role in Vietnam’s infrastructure, significant improvements in operational management, efficiency, and profitability are needed to match its strong economic standing with effective and sustainable performance.