Exciting News from Trung Nam

During the sharing session, the group’s leadership emphasized that to prepare for upcoming projects, Trungnam Group has recently intensified investment promotion activities for new projects, aiming to optimize its advantages and experience.

The company will continue seeking new opportunities to expand its core business segments, including wind power, solar power, and LNG projects, while also maintaining its focus on infrastructure with highway and bridge projects across the country.

Positive Financial Signals

According to information shared at the event, as of December 2025, the group’s revenue reached 13.686 trillion VND. Total revenue from power plants increased by over 10% compared to 2024, reaching 6.000 trillion VND in 2025. The 2026 plan is expected to maintain a growth rate of around 10%, driven by favorable weather conditions, increased demand for green energy from the government, and improved operational stability after the initial phase, reducing technical incidents and optimizing useful power generation time with an experienced operational team.

Liquidity in 2025 has also significantly improved, with bond packages at power plants paying principal and interest on time, maintaining commitments to bondholders regarding effective cash flow use in 2026.

Notably, Trung Nam has achieved certain results in bond usage negotiations, gaining consensus and support from bondholders. Bondholder meetings have recorded positive signals, laying a solid foundation for the group’s financial stability.

Specifically, for the Thuan Nam Power Plant bond package, the main bondholder, MB Bank (82% of the value), agreed and completed restructuring in June 2025. The payment schedule for bond batches has been adjusted to match the project’s actual cash flow, reducing financial pressure in the early years and aligning with EVN’s payment progress.

Similarly, for the Dak Lak Power Plant bond package, the main bondholder, Vietcombank (VCB – holding 75% of the value), approved the restructuring plan in December 2025. Periodic payment obligations have been flexibly adjusted to suit the cyclical and seasonal revenue nature of the wind power project.

Strengthening Restructuring and Asset, Financial Management

Trung Nam also announced that the company has seized opportunities to restructure and overcome challenges. Financial restructuring measures are being implemented on schedule, with active support and cooperation from credit institutions. Many banks have proposed restructuring plans.

Most banks have evaluated and supported the financial restructuring plan with a total restructuring value at power plants exceeding 10.000 trillion VND. Implementation is progressing across projects, with restructuring completed at several key projects.

Currently, Trung Nam has classified and rearranged existing debts while allocating appropriate capital for new projects.

For capital deployment in the 2026–2030 phase:

Renewable energy under the adjusted QH8 plan, with a total investment of 165.000 trillion VND (over 6 billion USD).

Ca Na LNG Power Plant, with a total investment of 57.000 trillion VND (over 2 billion USD).

Alongside its own capital, Trung Nam has collaborated with domestic and international credit institutions to mobilize capital and has engaged with leading global strategic partners: consultants (UL, Tractebel, DNV), general contractors (PowerChina, China Energy), and suppliers and operators (Enercon, Siemens Gamesa, Mingyang, Sungrow, Envision).

Payments to EVN have also improved, while issues related to the CCA mechanism are being urgently addressed by the government, expected to be resolved in 2025.

Restarting Energy Projects – Continuing Infrastructure Investment

With its existing business foundation and consistent development goals, focusing on strengths, the 2026 investment plan is expected to grow by around 10%. Trung Nam will vigorously restart energy projects in 2026. Wind power, solar power, and LNG projects are being proposed to local authorities.

The company continues to invest in key infrastructure, alongside participating in large tenders, aligning with the national development strategy to increase public investment to around 10% of GDP.

Ongoing infrastructure projects include: the Ho Chi Minh City Tidal Flood Control Project (Phase 1), Chau Doc – Can Tho – Soc Trang Expressway, Khanh Hoa – Buon Ma Thuot Expressway, Bien Hoa – Vung Tau Expressway, Rach Xuyen Tam XL01 Package from Km0+000 to Km2+512 (Ho Chi Minh City), and Cau Son Canal.

In 2026, planned infrastructure projects include the Hai Phong Ring Road 2 and the Gia Nghia – Bao Loc – Phan Thiet Expressway (under study and proposal to authorities) in Lam Dong Province.