The Board of Directors of HNA has provisionally approved the 2026 business plan, targeting a total revenue of nearly VND 896 billion. The power generation segment is expected to contribute over VND 879 billion, accounting for more than 90% of total revenue, primarily from the Hua Na Hydropower Plant, with the remainder from the Nam Non Hydropower Plant.
Nam Non Hydropower Plant
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According to the plan, the post-tax profit for 2026 is estimated at nearly VND 206 billion. The profit structure for 2026 highlights a clear seasonal pattern in Hua Na’s business activities. Q3 is expected to be the most profitable quarter, with post-tax profits exceeding VND 113 billion. In contrast, Q1 is identified as the low season, with projected profits below VND 10 billion.
Hua Na’s early approval of the 2026 business plan comes on the heels of a positive 2025 performance. Although the annual financial report is not yet due, 9-month figures show revenue reaching VND 852 billion and post-tax profit hitting VND 379 billion, 2.2 times higher than the same period last year.
With these results, Hua Na has surpassed its 2025 profit target by 105% and its revenue goal by 3%.
| Hua Na’s Business Results 2015-9M2025 and 2026 Plan |
Allocating VND 500 Billion for New Projects and 15% Dividend Payout
Alongside the business plan, Hua Na intends to distribute a cash dividend at a rate of 15%, equivalent to VND 1,500 per share. The total dividend payout is estimated at nearly VND 353 billion.
Within the shareholder structure, the parent company Petrovietnam (PVN) is expected to receive approximately VND 285 billion, representing nearly 81% of the total dividend value. This 15% payout returns Hua Na’s dividend to its 2022 level, following a 10% rate maintained in 2023-2024.
Regarding investment plans, Hua Na anticipates allocating around VND 500 billion for new projects in 2026. The disbursement schedule is concentrated primarily in the last two quarters, from Q3 to Q4.
On the HOSE market, HNA shares exhibit limited liquidity. On the morning of December 26, the stock traded around the reference price of VND 21,850 per share, down approximately 6% over the past year, with average liquidity below 5,000 shares per session.
| HNA Stock Price Movement Since 2025 |
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Hua Na Hydropower is a leading hydropower company in Vietnam, with a charter capital of approximately VND 2,352 billion. The company currently operates the main Hua Na Hydropower Plant (total investment exceeding VND 7,000 billion, operational since 2013) and recently acquired the Nam Non Hydropower Plant (20 MW capacity, investment of VND 513 billion). The main plant’s average annual electricity output is around 717.6 million kWh. |
– 10:43 26/12/2025
Oil and Gas Firm Projects Over 2,000 Billion VND in Post-Tax Profit by 2026, Stock Surges to Upper Limit in Final Week’s Session
Anticipated post-tax profits are projected to reach 2.162 trillion VND, marking a remarkable 187% surge compared to the 2025 annual plan.
