Some companies make big profits, but others lose a lot of money.

Trung Nam Tra Vinh Solar Power JSC made a profit of $8 million in 2025.

The company's losses decreased from $29.1 million to $20.2 million.

The company's financial situation is getting better.

The company's equity increased to $39.2 million.

The company's bank debt decreased to $71.8 million.

The company's bond debt decreased to $786,000.

The company's other liabilities decreased to $18.4 million.

The company's debt-to-equity ratio improved to 2.49 times.

The company's financial pressure has decreased.

Trung Nam Tra Vinh Solar Power has a matured bond.

The bond was issued for $15.3 million and matured in 2023.

The solar power project was built in Tra Vinh Province.

The plant has a capacity of 140 MW and uses 440,000 solar panels.

The plant generates 250 million kWh of electricity per year.

Trung Nam Thuan Nam Solar Power is in a different situation.

The company lost $37.1 million in 2025.

The loss was a surprise after the company recovered from previous losses.

The company's accumulated losses are now $69.7 million.

The company's equity decreased to $22.7 million.

The company's project is affected by FIT pricing disputes.

High investment and interest costs are eroding profits.

Many solar and wind power companies are facing profit declines or losses.

Hong Phong 1 Energy lost $6.9 million in 2025.

The company's loss was the largest since it started publishing financial statements.

The company's equity decreased by $6.9 million.

The company's debt-to-equity ratio increased to 3.2 times.

The company's bond debt is $80.5 million.

Hong Phong 2 Energy is in a similar situation.

The company lost $3.7 million in 2025.

The company's equity decreased to $35.4 million.

The company's total liabilities are $64 million.

Hoa Dong 2 Wind Power lost $4.4 million in the first half of 2025.

The company has accumulated losses of $18.9 million.

The company lost $8.8 million in 2024 and $6.1 million in 2023.

Some companies like Ea Sup 1 and Ea Sup 3 are still profitable.

However, their profit margins are relatively low.

The renewable energy sector's biggest challenge is its capital-intensive business model.

Most wind and solar projects operate under fixed FIT pricing agreements.

Companies rely heavily on borrowing, keeping financial costs high.

Deposit interest rates have increased to 8-9% per year, increasing funding pressure.

The 2026-2027 period will be a major test for many renewable energy firms.

Companies may face pressure to restructure debt or repurchase bonds before maturity.

Legal bottlenecks related to project procedures and transmission infrastructure remain unresolved.

Transitional power prices are lower than previous FIT rates, limiting revenue growth.

Many renewable energy firms are facing cash flow pressure.

The ability to service debt and expand investment will be a major test for the sector.