AsemconnectVietnam - For the whole year of 2025, Quang Ninh Thermal Power generated VND1,051 billion in after-tax profit, an increase of nearly 70% compared to the previous year and exceeding the annual profit target by 128.5%.

According to the Q4/2025 financial report, Quang Ninh Thermal Power Joint Stock Company (QTP) achieved revenue of over VND2,953 billion, an increase of 2.3% compared to the same period in 2024. Thanks to a sharp decrease in cost of goods sold of 25.1%, gross profit increased by 354.8% to nearly VND955 billion.
In addition, QTP's financial revenue reached over VND15.4 billion, nearly three times higher than the same period, helping the company's after-tax profit reach VND655 billion, nearly four times higher than the same period last year.
For the full year 2025, QTP's revenue reached VND10,786 billion, a decrease of 9.4% compared to 2024. However, thanks to a significant reduction in cost of goods sold, the company's after-tax profit reached VND1,051 billion, an increase of nearly 70% compared to the previous year.
In 2025, Quang Ninh Thermal Power aims for revenue of nearly VND11,933 billion and after-tax profit of VND460 billion. With these results, by the end of 2025, the company had exceeded its after-tax profit target for the whole year by 128.5%.
As of the end of Q4/2025, the company's total assets reached VND7,775 billion, an increase of 4.7% compared to the beginning of the year. Of which, short-term assets accounted for 72%, reaching over VND5,558 billion. QTP's cash and cash equivalents reached approximately VND72.7 billion, double the VND35.5 billion at the beginning of the period.
On the other side of the balance sheet, the company's total liabilities decreased by 22.7%, to over VND1,830 billion. QTP no longer recorded short-term and long-term financial debt at the end of the year, thus reducing interest expenses for the whole year 2025 by 50%, to only VND10.1 billion. In the fourth quarter of 2025 alone, this expense was only VND1.1 billion.
On January 27th, QTP will finalize the list of shareholders eligible for the 2025 interim dividend. The company will pay an interim dividend in cash at a rate of 10% (equivalent to VND1,000 per share). The dividend payment is expected to be on February 12th. With 450 million shares outstanding, QTP is estimated to spend VND450 billion on dividends.
Of this, Power Generation Corporation 1, the largest shareholder holding 42% of QTP's capital, will receive VND188.9 billion. Following that is Pha Lai Thermal Power Joint Stock Company (PPC), owning 16.4% of the capital, which will receive VND73.6 billion. In addition, the State Capital Investment and Business Corporation (SCIC) and TKV Power Corporation, owning 11.4% and 10.6% respectively, will receive VND51.4 billion and VND47.8 billion respectively.
N.Nga
Source: VITIC/Tinnhanhchungkhoan