Oct 21, 2026
Full Analysis
Mixed
earnings beat smallcap
Hai Phong Thermal Power (HND) swung to a Q3/2026 net profit of VND 35.49 billion from a year-earlier loss, on revenue up 36% to VND 2,782 billion, though profit fell about 88% quarter-on-quarter. Nine-month profit rose 38.4% to VND 544 billion, while the company disclosed former CEO Duong Son Ba was arrested for document forgery.
Oct 21, 2026
Full Analysis
Positive
earnings beat
Hai Phong Thermal Power (HND) posted a VND 35B Q3/2026 net profit versus a VND 15B loss a year earlier, lifting nine-month profit 38% to VND 544B on revenue of VND 2,782B (+36%). HAX, IRC, PPC and TIS also swung to quarterly profit, though TCR, HTT, FGL and SDD remain loss-making for the nine-month period.
Oct 19, 2026
Full Analysis
Negative
legal action
Hai Phong Thermal Power (HND) lost its appeal and must pay Dan Ka Minerals nearly VND 114.82B, comprising VND 80.15B in coal-price differential on 150,498.99 tonnes and VND 34.65B in interest, plus roughly VND 225M in court fees. The ruling lands amid senior leadership upheaval at the UPCOM-listed utility.
Oct 14, 2026
Full Analysis
Negative
leadership change
Hai Phong Thermal Power (HND) dismissed CEO Duong Son Ba, arrested in May 2026 on charges of forging organizational documents, and will hold an extraordinary shareholder meeting on December 4, 2026 to reconstitute its board. H1 2026 revenue rose 8% to nearly VND 6,081B and after-tax profit grew almost 25% to over VND 508B.
Oct 13, 2026
Full Analysis
Negative
leadership change
Hai Phong Thermal Power (UPCoM: HND) will hold an extraordinary shareholders' meeting on December 4 to reconstitute its board and supervisory board after chairman Tạ Công Hoan died in August and CEO Dương Sơn Bá was arrested in May for document forgery. The utility, which reports total assets of more than VND 7,582 billion, has cycled through three acting chairmen and two acting CEO arrangements in under six months.
Oct 13, 2026
Full Analysis
Negative
leadership change
Hai Phong Thermal Power (HND) will hold an extraordinary shareholders' meeting on December 4, 2026 to rebuild its board after CEO Duong Son Ba was arrested in May and Chairman Ta Cong Hoan died in August. The company also disclosed it no longer meets public company criteria, with non-major shareholders holding just 6.82% of voting shares.
Oct 07, 2026
Full Analysis
Negative
leadership change
Hai Phong Thermal Power (HND) has replaced its board leadership after CEO Duong Son Ba was arrested in May 2026, and now reports that non-major shareholders hold only 6.82% of voting shares, below the 10% public company threshold. The UPCOM-listed utility still posted H1 2026 net profit of VND 508 billion, but governance and shareholder-structure risks are now front and center.
Sep 29, 2026
Full Analysis
Neutral
dividend announcement
Hai Phong Thermal Power (HND) will pay a 3% cash dividend for 2025, roughly VND 150B, with record date 5 October and payment on 15 October 2026. The payout lands after former CEO Duong Son Ba was prosecuted and two board-level leadership changes, while Quang Ninh Thermal Power (QTP) also had an executive charged in the same environmental monitoring case.
Sep 03, 2026
Full Analysis
Negative
leadership change
HND Chairman and legal representative Ta Cong Hoan died on 27/8/2026, prompting the company to initiate legal procedures to appoint a successor. The firm, which operates 1,200 MW of coal-fired capacity on UPCOM, assures business continuity during the transition.
Sep 03, 2026
Full Analysis
Negative
leadership change
HND Chairman Ta Cong Hoan died on August 27, 2026, prompting the company to initiate procedures to appoint a new legal representative. The board member Doan Duc Toan, who was authorized in June 2026, is expected to lead temporarily.
Aug 13, 2026
Full Analysis
Neutral
macro policy
KBSV identifies 13 companies in the state divestment pipeline under Decision 40, with notable planned reductions at BCM, BSR, and GAS, and full divestment for MSB, NTP, HND, QTP, VGC, PVI, and DMC. The market-wide impact is expected to be limited, but individual tickers may see volatility as ownership changes unfold.
Jul 19, 2026
Full Analysis
Positive
earnings beat
VPB posts Q2 2026 pre-tax profit of VND 10,959 billion, up 76% YoY, lifting 6M profit to VND 18,880 billion (+68%). TPB, HND, PPC, and BMP also report double-digit profit growth, while OCBS leads all companies with over 4,000% earnings surge.
Jul 18, 2026
Full Analysis
Positive
earnings beat
VPB reports Q2 2026 pre-tax profit of VND 10,959 billion (+76% YoY), becoming the first Vietnamese company to surpass VND 10,000 billion in quarterly earnings. The result drives 6M2026 profit to VND 18,880 billion (+68% YoY), reinforcing VPBank's leading position in the banking sector.
Jul 17, 2026
Full Analysis
Positive
earnings beat
VPB reported Q2 2026 pre-tax profit of VND 10,959B, up 76% YoY, bringing H1 total to VND 18,880B (+68%). TPBank (TPB) also posted solid growth with Q2 profit of VND 2,562B (+26%).
Jun 03, 2026
Full Analysis
Negative
leadership change
Hai Phong Thermal Power (HND) appointed Mr. Tran Xuan Truong as Acting General Director effective June 1, 2026, following the prosecution of former CEO Duong Son Ba for forging documents.