730 million BGE shares of BCG Energy officially listed on UPCoM

On July 31st, at the Hanoi Stock Exchange (HNX), 730 million shares of BGE were officially listed on the UPCoM market with a reference price of 15,600 VND per share, and a fluctuation range of +/- 40% in the first trading session.

Speaking at the BGE stock launch ceremony, Mr. Ng Wee Siong Leonard – Chairman of the Board of Directors of BCG Energy shared: “This is an important milestone in our journey, symbolizing not only our growth but also our commitment to contributing to shaping the future of the renewable energy market in Vietnam.”

730 million BGE shares of BCG Energy were officially listed on the UPCoM exchange on the morning of July 31, 2024.

“With this new milestone, as a publicly traded company, we are committed to maintaining the highest standards of corporate governance and transparency. Our commitment to these principles will ensure that we operate with integrity, maintain shareholder trust, and create lasting value for all stakeholders,” emphasized the Chairman of BCG Energy.

BCG Energy is a key member of the energy sector of Bamboo Capital Group (HoSE: BCG). Established in 2017, the company currently has a charter capital of VND 7,300 billion. Currently, BCG's total assets have reached VND 20,000 billion, with equity accounting for nearly VND 10,000 billion.

In recent years, BCG Energy has consistently recorded impressive business growth results. In 2021, the company achieved revenue of VND 760 billion, and in 2022, revenue grew strongly by 40% to VND 1,064 billion. In 2023, BCG Energy's net revenue increased by 5.8%, reaching over VND 1,125 billion.

Mr. Ng Wee Siong Leonard, Chairman of the Board of Directors of BCG Energy Corporation, delivered a speech.

In the first six months of 2024, BCG Energy's consolidated net revenue reached VND 698.8 billion, a 22% increase year-on-year. Consolidated after-tax profit reached VND 290.7 billion, a sharp 33-fold increase compared to the first half of 2023. This dramatic increase in profit is attributed to BCG Energy's effective reduction of financial costs, particularly interest expenses. Furthermore, the growth momentum is driven by its 600 MW solar power system, which ranks among the top three in Vietnam.

BCG Energy's capital structure has also significantly improved and gradually stabilized over the years. The debt-to-equity ratio decreased from 1.9 times at the end of 2022 to just 0.99 as of June 30, 2024. In addition, the debt-to-equity ratio also decreased from 1.25 at the end of 2022 to 0.64 as of June 30, 2024.

The increasingly stable debt-to-equity ratio over the years shows that BCG Energy is maintaining financial leverage at a safe level, minimizing risks from the macroeconomic environment.

Mr. Pham Minh Tuan, General Director of BCG Energy, received the Certificate of Registration for BGE shares trading at the Hanoi Stock Exchange (HNX).

BCG Energy's renewable energy segment has become a crucial pillar, generating the largest revenue for Bamboo Capital Group. Specifically, Bamboo Capital Group's cumulative revenue for the first six months of the year reached VND 2,100.3 billion, a 15.7% increase compared to the same period last year. BCG Energy's renewable energy segment contributed VND 698.8 billion to Bamboo Capital's revenue, equivalent to 32.8%.

BCG Energy currently owns a portfolio of nearly 1 GW approved under the Power Development Plan VIII with a vision for implementation until 2030. Notably, a series of large-scale wind power projects, including: Dong Thanh 1 (80 MW) and Dong Thanh 2 (120 MW) wind power plants in Tra Vinh province; and Khai Long 1 (100 MW) in Ca Mau, will be implemented by BCG Energy this year and are expected to be operational in 2025. Once operational, these projects will help BCG Energy increase its total power generation capacity by approximately 53% and become a leading renewable energy enterprise in Vietnam.

BGE shares were listed on the UPCoM exchange with a reference price of VND 15,600 per share, reaching a market capitalization of VND 11,388 billion.

Another notable highlight in BCG Energy's business operations is the company's entry into the waste-to-energy sector. On July 20th, Bamboo Capital Group and BCG Energy commenced construction of the Tam Sinh Nghia waste-to-energy plant in Cu Chi, Ho Chi Minh City.

Phase 1 of the plant, implemented from 2024 to 2025, has a total investment of VND 6,400 billion, an incineration capacity of 2,000-2,600 tons of waste per day, a power generation capacity of 60MW, and an expected electricity output of up to 365 million kWh per year, meeting the electricity needs of approximately 100,000 households, while also helping to reduce CO2 emissions by about 257,000 tons per year.

Phase 2 of the project is expected to be implemented from 2026-2027, increasing the waste incineration capacity to 6,000 tons/day and the power generation capacity to 130MW, making it the world's largest waste-to-energy plant. Phase 3 of the plant is expected to be implemented from 2027 to 2029, increasing the waste incineration capacity to 8,600 tons/day and the power generation capacity to 200 MW.

Alongside the construction of the Tam Sinh Nghia waste-to-energy plant in Ho Chi Minh City, BCG Energy will soon launch waste-to-energy plant projects in Long An and Kien Giang provinces. This expansion into the waste-to-energy sector is expected to boost BCG Energy's revenue and contribute to Vietnam's clean energy transition.

To meet the need to develop more large-scale energy projects, in addition to the ability to mobilize capital from banks and financial institutions, domestic and foreign partners. Listing on the UPCoM will help BCG Energy more easily mobilize capital for potential energy projects that are about to be implemented.

With an impressive leap in profits in the first six months of 2024, a safe and stable financial leverage ratio, and several recently issued policies supporting the renewable energy sector, BGE could be one of the promising stocks leading the energy sector in the second half of 2024.

Source: https://baodautu.vn/730-trieu-co-phieu-bge-cua-bcg-energy-chinh-thuc-chao-san-upcom-d221258.html