A view of Vĩnh Sơn-Sông Hinh Hydropower JSC’s hydroelectric dam. The company lost more than VNĐ3 billion in the first half of this year. — Photo tinnhanhchungkhoan.vn HÀ NỘI — A number of hydropower and thermal power companies are facing hardships due to the severe impacts of the COVID-19 pandemic. In the second quarter of this year, among the 20 listed hydropower companies, 12 saw profits decline, six reported losses and only two witnessed profit rising over the same period last year. The declines in earnings were attributed to the disastrous impacts of the COVID-19 pandemic, which caused both commercial electricity output and selling prices to decline, thus hitting revenue of many businesses in the industry. Khánh Hoà Power Joint Stock Company (KHP) suffered a loss of nearly VNĐ219 billion (US$9.5 million) in Q2. In the first six months of 2020, KHP recorded a decrease of 11 per cent in net revenue, reaching VNĐ2.23 trillion, and a slight decrease of 5 per cent in cost of goods sold, reaching VNĐ2.37 trillion. Vĩnh Sơn-Sông Hinh Hydropower JSC (VSH) achieved revenue of nearly VNĐ55 billion in Q2, down by 50 per cent year-on-year and suffered a loss of over VNĐ2 billion. In the first half of this year, the… Read full this story
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