PV Power (POW) has over 900 billion VND in bad debt, with an additional over 300 billion VND in bad debt from PVI

PV Power (POW) has announced its Q2 2025 financial results, reporting revenue of 9,415 billion VND, nearly unchanged from the same period last year, but gross profit increased by 64% to 1,205 billion VND, with net profit rising by 66% to 733 billion VND. For the first six months, total revenue reached 17,565 billion VND, an increase of 12.4%, while net profit surged by 83%. Total assets reached 86,020 billion VND, up 7.6%. However, bad debts increased to 911 billion VND, with the largest proportion from the Electricity Trading Company at 558 billion VND. Notably, POW also recorded a new bad debt of 311 billion VND from the Vietnam Petroleum Insurance Corporation (PVI). Total liabilities amounted to 50,480 billion VND, of which borrowings were 27,870 billion VND.