North Ha Energy JSC recently announced its periodic financial report for the first half of 2025 to the Hanoi Stock Exchange (HNX).
According to the report, North Ha Energy posted a post-tax profit of over 30 billion VND, a decrease of approximately 5 billion VND, or 14%, compared to the same period last year.
As of June 30, 2025, owner’s investment capital remained at over 302 billion VND; however, undistributed post-tax profits decreased from over 170 billion VND to nearly 59 billion VND.
Total liabilities decreased by 25.6% to 551 billion VND. This includes a significant reduction in bond debt to 325 billion VND and bank debt to 34 billion VND, while other debts surged to 192 billion VND.
Data from HNX indicates that the aforementioned bond debt of North Ha Energy originates from the bond code BHBCH2429001, issued on June 27, 2024, with a 5-year term, an interest rate of 9.5% per annum, and no collateral. The issuing agent was Saigon-Hanoi Securities JSC (SHS). The purpose of the issuance was to restructure some of the issuer’s debts.
In the first half of this year, the issuer paid nearly 31 billion VND in bond interest. As of August 20, 2025, North Ha Energy has spent 325 billion VND to redeem these bonds.
Also, on August 20, North Ha Energy issued 3,250 bonds with the code BHB12501, with a par value of 100 million VND per bond, for a total issuance value of 325 billion VND. These bonds have a 5-year term and are expected to mature on August 20, 2030. This is the first bond lot issued by the company in 2025.
As of the end of the second quarter of 2025, North Ha Energy was a subsidiary of I.P.A Investment Group JSC (MCK: IPA), which owned 89.79% of the stake and 95.19% of the voting rights. Mr. Vu Hien, Chairman of the Board of Directors of IPA, also serves as the Chairman of North Ha Energy.
North Ha Energy is known as the investor of two hydropower plants, Nam Phang A and Nam Phang B, in the former Bac Ha district of Lao Cai province.
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