WTB is a hydropower enterprise located in Ban Tin Toc, Xa Ban Tin Toc, Tu Nang commune, Yen Chau district, Son La province, Vietnam. The enterprise first commenced operations on August 18, 2009.
The enterprise is a subsidiary of Song Da 11 JSC (HNX: SJE). As of October 30, 2023, SJE has invested nearly VND 57.3 billion to hold 5.6 million shares of WTB, equivalent to 70% of its charter capital. Thus, the charter capital of WTB falls into VND 80 billion range, equivalent to 8 million shares.
 To Buong Hydropower Plant. Photo: SJE
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Regarding SJE, its predecessor was an Electricity and Water Team under the General Corporation for Construction of Thac Ba Hydropower Plant established by the Ministry of Architecture in 1961. It was then upgraded to a Mechanical and Electrical Construction Site in 1973. In 2006, the company’s shares were listed on the HNX. SJE mainly operates in the fields of construction and installation of power transmission lines and substations up to 500kV voltage levels; construction of hydropower, irrigation, transportation, and postal works; installation of water supply and drainage systems for urban and industrial areas. The company has participated in the construction of many important packages for the Vietnam Electricity industry, such as Lai Chau Hydropower Plant, Xekaman Hydropower Plant, and Mong Duong Thermal Power Plant.
In Q2/2024, SJE achieved record results with a revenue of VND 934 billion, six times higher than the same period last year; and a net profit of over VND 69 billion, seven times higher, making it the most profitable quarter for the enterprise. This outstanding performance was mainly due to the company’s efforts in accelerating capital recovery for the 500kV Quang Trach – Pho Noi transmission line project during the second quarter.
The results of the second quarter accounted for the majority of the cumulative results for the first six months, as SJE achieved a revenue of nearly VND 1,100 billion, 3.7 times higher than the same period last year, with a revenue of VND 151 billion in the commercial electricity sector. The net profit reached VND 101 billion, nearly five times higher.
| Business Performance of SJE – Parent Company of To Buong Hydropower |
Cen Land’s annual profits plummet to 2.5 billion VND, with nearly 60% of assets being accounts receivables.
Although the fourth quarter saw a reversal in profits, declining revenue resulted in Cen Land’s net profit for the entire year of 2023 only reaching 2.5 billion VND. It is worth mentioning that nearly 60% of the company’s assets consist of receivables from partners, with a total value of approximately 4,100 billion VND.
Declining profits at Bank increase in 2023
Throughout the year 2023, this bank achieved a pre-tax profit of over 928 billion VND, a decrease of 16.2% compared to 2022 and only 73% of the set plan was accomplished.
