QUANG NINH THERMAL POWER JOINT STOCK COMPANY (CÔNG TY CỔ PHẦN NHIỆT ĐIỆN QUẢNG NINH), registered under Business ID 5700434869, is a publicly traded enterprise specializing in electric power generation. Established on December 16, 2002, the company operates one of Vietnam’s largest coal-fired power plants, supplying electricity to the national grid.

Located in Ha Long City, Quang Ninh Province, the company manages and operates Quang Ninh Thermal Power Plant, which consists of four units with a total capacity of 1,200 MW. As Vietnam remains dependent on coal for energy production, QUANG NINH THERMAL POWER JOINT STOCK COMPANY plays a crucial role in ensuring national energy security.

For more details, visit the company’s website: http://www.quangninhtpc.com.vn/.

Vietnam’s Power Industry and the Role of QUANG NINH THERMAL POWER

Vietnam’s electricity sector is dominated by state-controlled corporations such as Vietnam Electricity (EVN) and Power Generation Corporation 1 (EVNGENCO1). As the country’s economy grows, the demand for electricity continues to rise, placing increased pressure on the thermal and renewable energy sectors.

Like Quang Ninh Thermal Power Plant, coal-fired power plants provide a stable energy supply, making them essential in Vietnam’s energy transition strategy. While the government is shifting towards renewable energy sources, coal remains a critical component of Vietnam’s power generation mix due to reliability and cost-efficiency.

The company’s key business activities include:

• Electric power generation and distribution
• Maintenance and operation of coal-fired power plants
• Wholesale of construction materials
• Manufacturing cement, lime, and concrete products
• Trading land use rights and industrial properties

Corporate Leadership and Workforce

The company is led by experienced professionals:

• Chairman: Mr. Nguyen Tuan Anh
• General Director: Mr. Nguyen Viet Dung
• Deputy General Director: Mr. Le Viet Cuong

With 800 employees, the company ensures continuous plant operations, maintenance, and efficiency improvements.

Financial Performance and Market Position

QUANG NINH THERMAL POWER JOINT STOCK COMPANY is listed on Upcom under the stock symbol QTP. In 2023, the company achieved:

• Total Sales: USD 495.39 million (15.75% YoY growth)
• Total Assets: USD 303.19 million (-8.33% YoY decline)
• Profit: USD 25.14 million (-19.92% YoY decline)

The company faces challenges related to fluctuating coal prices, environmental regulations, and competition from renewable energy sources. However, its stable shareholder structure and government backing ensure long-term sustainability.

For detailed financial analysis, investment insights, and risk assessment, consider purchasing Vanguard Business Information LLC’s (VBI) Comprehensive Credit Report.

Ownership and Shareholder Structure

As of September 6, 2024, the company’s ownership structure includes:

• Power Generation Corporation 1 (EVNGENCO1) – 42%
• Pha Lai Thermal Power JSC – 16.35%
• State Capital Investment Corporation (SCIC) – 11.42%
• Vinacomin - Power Holding Corporation – 10.62%
• Other shareholders – 19.61%

This state-backed ownership ensures financial stability and long-term operational security.

As part of Vietnam’s coal-fired power sector, QUANG NINH THERMAL POWER JOINT STOCK COMPANY remains an essential contributor to national energy security. While facing environmental and regulatory challenges, the company continues to supply reliable electricity to support economic growth.

For in-depth financial analysis and investment insights, purchase a VBI Comprehensive Credit Report today!