Trung Nam Thuan Nam Solar Power Co., Ltd. has released its periodic financial report for the first six months of 2026.

As of June 30, the company’s equity stood at VND461.71 billion ($17.5 million), down more than VND1.226 trillion ($46.5 million), or approximately 72.7%, from the same period last year.

Trung Nam Thuan Nam Solar Power is among 173 renewable energy projects affected by unresolved transitional pricing mechanisms, which have weighed on cash flow and financial performance.

In the first half of 2026, the company recorded a pre-tax loss of VND19.73 billion ($748,000), reversing a pre-tax profit of VND142.15 billion ($5.4 million) in the same period of 2025.

After-tax profit also swung from a VND126.46 billion ($4.8 million) profit to a VND27.63 billion ($1 million) loss.

As of June 30, accumulated undistributed after-tax losses stood at nearly VND1.95 trillion ($73.9 million), widening by more than VND1.226 trillion ($46.5 million) from a deficit of VND722.91 billion ($27.4 million) a year earlier.

The report also showed that the company’s total liabilities had risen to VND9.793 trillion ($371.5 million) as of June 30, compared with VND9.001 trillion ($341.5 million) a year earlier.

Bank borrowings stood at VND1.588 trillion ($60.3 million), down from VND1.723 trillion ($65.4 million) as of June 30, 2025.

Outstanding bond debt reached VND4.179 trillion ($158.5 million), slightly lower than VND4.372 trillion ($165.9 million) in the same period last year.

Duy Anh