AsemconnectVietnam - BB Sunrise Power JSC has just announced information on its financial situation in the first half of 2024. This is also the next enterprise in the BB Group ecosystem to report a loss.

Accordingly, BB Sunrise Power lost more than VND134.2 billion after tax in the first half of 2024, but has decreased significantly compared to the loss of VND247.9 billion in the same period last year. The large loss has caused the company's equity to a negative level of nearly VND222 billion (nearly VND88 billion in the same period last year).
By the end of the second quarter of 2024, BB Sunrise Power's total liabilities were VND4,886 billion, the debt/equity ratio was negative 22.01 times. Of which, the outstanding corporate bond balance was VND477 billion.
BB Sunrise Power is circulating the BBSP.H.20.23.001 bond lot with a value of more than VND500 billion, issued on December 22, 2020, with a term of 3 years. In May 2024, BB Sunrise Power was approved by bondholders to extend the term of this bond lot from 3 years to 5 years. Therefore, the maturity date was adjusted from December 22, 2023 to December 22, 2025, with an interest rate of 8%/year.
Recently, BB Sunrise Power Company has made 3 pre-maturity partial buybacks of the bond lot with a value of nearly VND23 billion, so the circulating volume of this bond lot is worth more than VND477 billion.
BB Sunrise Power Joint Stock Company was established in September 2019, with the main business lines being installation, repair and transmission and distribution of electricity. The Company's headquarters is located at A2023, The Manor Tower, Me Tri Street, My Dinh 1 Ward, Nam Tu Liem District, Hanoi. The company has a charter capital of VND500 billion.
BB Sunrise Power is also part of the BB Group ecosystem founded by Mr. Vu Quang Bao. Before BB Sunrise Power, another company in the same BB ecosystem, BB Power Holdings JSC, also reported a loss of VND184.5 billion in the first half of the year, a loss that has lasted from 2021 to present with a total loss of VND1,156 billion.
N.Nga
Source: VITIC/Tinnhanhchungkhoan