News about QTP

Quảng Ninh Thermal Power JSC (QTP) reported Q3 2026 sales revenue of about 2,815 billion VND, up roughly 37%, and profit after tax of nearly 76 billion VND, about 2.3 times the same period last year. Gross profit rose nearly 45% to over 93 billion VND, financial income climbed from nearly 8 billion to over 26 billion VND, and management expenses fell from 28 billion to about 23 billion VND. For the first nine months, net revenue exceeded 9,173 billion VND (up about 17%), profit before tax reached nearly 750 billion VND and profit after tax 600 billion VND, both up about 51%, with EPS of 1,332 VND per share. The results follow the February 23, 2026 arrest of Deputy General Director and board member Lê Việt Cường for investigation of allegedly forging documents, and the company has since appointed Nguyễn Công Kiên and Dương Thành Công as deputy general directors. QTP shares rose nearly 5% to 11,300 VND on October 22.

CTCP Nhiệt điện Quảng Ninh (QTP) says its board approved the EPC contract for package 05 of its flue gas treatment upgrade project, signed with the SEC-Pacific joint venture of Shanghai Electric Group and CTCP Tập đoàn Thái Bình Dương on a fixed-price basis. The contract is worth over 89.75 million USD and nearly 902 billion VND, about 3,271 billion VND in total, with 38 months to complete. SEC-Pacific was the only bidder to pass technical evaluation, as rival CISDI failed to reach the minimum score. The company has also appointed two deputy general directors this year, Nguyễn Công Kiên from 12/8/2026 and Dương Thành Công from 16/10/2026, after former board member Lê Việt Cường was arrested in February 2026 over alleged forgery of documents. For the first six months of 2026, net revenue reached nearly 6,359 billion VND, up over 10%, and profit after tax about 524 billion VND, up over 44%, already exceeding its full-year 2026 profit plan.

Quang Ninh Thermal Power (QTP) appointed Duong Thanh Cong as Deputy General Director for five years from October 16, following the appointment of Nguyen Cong Kien as Deputy General Director from August 12, 2026. On February 23, 2026, Deputy General Director and board member Le Viet Cuong was prosecuted and detained for investigation over alleged forgery of documents of an agency or organization, and authorities have not yet reached a final conclusion. On February 24, 2026, QTP announced that Cuong no longer held a board seat from the date of his prosecution. In the first half of 2026, QTP's revenue rose 10% to 6,359 billion dong and after-tax profit rose 44% to 524 billion dong, completing 54% of its full-year revenue forecast and 76% of its full-year profit forecast.