HND Chairman Ta Cong Hoan Dies; Hai Phong Thermal Power Seeks New Legal Rep

Overview

Hai Phong Thermal Power JSC (HND) announced the passing of its Chairman and legal representative, Ta Cong Hoan, on August 27, 2026. The company is now undertaking legal procedures to appoint a new legal representative while ensuring business continuity. HND operates two thermal power plants with a combined capacity of about 1,200 MW, supplying electricity to northern Vietnam.

Key Facts

• Ta Cong Hoan, Chairman of HND’s Board of Directors and legal representative, passed away at 18:49 on August 27, 2026.
• Hoan was born on November 3, 1969, in Tu Son, Bac Ninh, and graduated from Hanoi University of Science and Technology.
• He joined Hai Phong Thermal Power in 2002 and held various roles, including Secretary of the Board, Head of Planning and Materials, and Deputy General Director.
• Hoan was elected Chairman on December 28, 2018, serving for over seven years.
• In June 2026, Hoan signed a power of attorney authorizing board member Doan Duc Toan to temporarily perform the Chairman’s duties.
• HND operates Hai Phong Thermal Power Plants 1 and 2, with a total capacity of approximately 1,200 MW.
• HND shares closed at 9,500 VND on September 3, 2026, on the UPCOM exchange.

What Happened

Hai Phong Thermal Power JSC (HND) disclosed unusual information that its Chairman and legal representative, Ta Cong Hoan, passed away on August 27, 2026. The company received the information from Hoan’s family and stated it is now following legal regulations, its charter, and internal governance rules to appoint a new legal representative. HND emphasized that operations will be maintained continuously and stably during the transition.

Hoan had a long career in the power sector, starting in 1993 as an electrical repair technician. He joined Hai Phong Thermal Power in 2002 and became Chairman in December 2018. Notably, in June 2026, he had already delegated his duties to board member Doan Duc Toan, which may facilitate a smoother leadership transition.

Market Context

HND is listed on the UPCOM exchange, where it closed at 9,500 VND on September 3, 2026. The stock is in the utilities sector, specifically thermal power, which is a critical part of Vietnam’s energy infrastructure. The sudden loss of a long-serving chairman introduces leadership uncertainty, though the prior delegation of authority to Doan Duc Toan may mitigate immediate operational risks. The broader market context includes ongoing reforms in Vietnam’s power sector and the need for stable electricity supply in the north.

Strategic Significance

For long-term investors, the key issue is governance continuity. HND’s plants are vital for northern Vietnam’s power grid, and the company’s strategic role remains unchanged. The appointment of a new chairman will be closely watched, as it could signal continuity or a shift in strategy. Given the company’s stable operational base, the main risk is management disruption, but the earlier delegation of powers suggests a planned succession path. Investors should monitor the formal appointment process and any strategic updates.

What to Watch

• Official announcement of the new Chairman and legal representative, expected in the coming weeks.
• Any changes in board composition or management strategy following the transition.
• HND’s operational performance in the next quarterly report, to confirm business continuity.
• Regulatory filings related to the legal representative change, as required by securities law.
• Market reaction to the leadership change, including any impact on HND’s share price on UPCOM.