Ha Do Group energy sector and financial developments

Ha Do Group has reported significant financial challenges alongside strategic expansions in its energy sector.

In its reviewed semi-annual 2026 financial statements, the group disclosed bad debts totaling 939 billion VND. Approximately 804 billion VND of this amount is attributed to receivables from the Electricity Trading Company under Vietnam Electricity (EVN) following violations in renewable energy projects. Despite these debts, the group reported an audited after-tax profit of 386 billion VND for the first half of the year, an 86% increase driven by downward adjustments in land use and real estate costs.

Concurrently, the group is consolidating its renewable energy assets. Ha Do Group approved the acquisition of all remaining shares in Binh Gia Wind Power Joint Stock Company from shareholders Nguyen Trong Minh and Le Xuan Tuan. This move grants the group 100% ownership of the entity, which manages the 80 MW Binh Gia Wind Power Plant project in Lang Son province. The project, representing a total investment of approximately 3,052.5 billion VND, is expected to be fully operational by the third quarter of 2028.