PC1

EVNNPT appoints Mr. Hoang Xuan Khoi as Acting General Director following the arrest of PC1 Chairman Trinh Van Tuan and other executives linked to the 500 kV circuit-3 transmission line project. The leadership reshuffle signals heightened legal and operational risks for contractors involved in Vietnam's power grid expansion.

EVNNPT appoints Hoang Xuan Khoi as acting CEO, replacing Truong Huu Thanh, amid an ongoing Ministry of Public Security investigation into PC1, PECC1, and PECC2. The leadership change at the state grid operator signals heightened regulatory scrutiny in Vietnam's power transmission sector, directly impacting PC1's operational outlook.

TV1, TV2, and PC1 face sharp sell-offs after chairmen and senior executives of PECC1 (TV1), PECC2 (TV2), and PC1 Group (PC1) were prosecuted and detained in connection with an investigation into accounting violations and embezzlement at state-owned EVNNPT. The legal actions have erased 20-36% of market value since early April, though PC1 reported strong Q1 2026 earnings.

TV2 Chairman Nguyen Chon Hung and Chief Accountant Bui Thi Ngoc Ly have been prosecuted by police in connection with an investigation involving National Power Transmission Corporation and PC1 Group. TV2's stock fell 4.54% on May 22, 2026, following the announcement. The case adds legal risk to TV2, which had reported strong Q1 2026 profit growth of 92%.

TV1 chairman Nguyen Huu Chinh was prosecuted and detained on May 7, 2026, for alleged violations. PC1 and TV2 also disclosed multiple leaders facing charges for accounting violations and embezzlement, triggering broad sell-offs across the three stocks on May 22.

TV1 Chairman Nguyen Huu Chinh has been prosecuted and detained as part of a broader police investigation into irregularities at the National Power Transmission Corporation, which also implicates TV2 and PC1. The probe has already led to charges against top executives at TV2 and PC1, signaling heightened regulatory scrutiny in the energy sector.

Foreign investors net sold VND 1,802 billion (USD 72 million) on May 22, 2026, the highest in three months, driving VN-Index down 1.68%. Blue-chips VIC, VHM, and MSB led the sell-off, with VIC losing 3.52% and VHM 4.88%. The selling pressure underscores persistent foreign outflow from Vietnamese equities.

TV2's chairman and chief accountant have been prosecuted by the Ministry of Public Security in an investigation involving National Power Transmission Corporation and PC1 Group. Separately, seven PC1 leaders face charges for accounting violations and embezzlement. The developments raise governance risks for both TV2 and PC1.

Foreign investors unexpectedly net sold VND 1,700 billion (USD 68 million) on all three exchanges, with strong selling pressure on real estate and banking stocks, dragging the VN-Index down 16 points to 1,896.89. The sell-off was concentrated in VIC and VHM, which together accounted for over 13 points of the index decline, signaling a broad de-risking by foreign capital.

TV2 issued an emergency announcement on May 21, 2026, after its Chairman Nguyen Chon Hung and Chief Accountant Bui Thi Ngoc Ly were prosecuted in a criminal investigation involving National Power Transmission Corporation, PC1 Group, and TV2. The company has reassigned signing authority to other executives to ensure project continuity and financial obligations, while TV2 shares fell 1.69% and PC1 shares rose 6.84% on the day.

TV2 Chairman Nguyen Chon Hung and Chief Accountant Bui Thi Ngoc Ly have been prosecuted by the Ministry of Public Security in a criminal investigation involving National Power Transmission Corporation and PC1 Group. The charges add to the legal risks for TV2 and PC1, with PC1's chairman already indicted. TV2 shares fell 1.69% while PC1 rose 6.84% on the news.