On June 10, 2025, in Ho Chi Minh City, Power Generation Joint Stock Corporation 3, listed under the stock code PGV, held its 2025 Annual General Meeting of Shareholders.

The meeting was attended by Mr. Dinh The Phuc – Member of the Member Council of Vietnam Electricity (EVN), along with representatives of EVN’s functional departments. From EVNGENCO3, participants included Mr. Dinh Quoc Lam – Secretary of the Party Committee, Chairman of the Board of Directors; Mr. Le Van Danh – Member of the Board, General Director; other Board members, Supervisory Board members, Deputy General Directors, leaders of functional departments, affiliated units, associated companies, and 76 shareholders or their authorized representatives, representing 1,115,458,720 voting shares, equivalent to 99.2871% of the total shares.

Overview of the 2025 Annual General Meeting of Shareholders

The shareholders were presented with reports on the 2024 results and 2025 plans for Production, Business, Investment, Construction, and Finance; the Financial Statements for the year ending December 31, 2024, and the 2024 profit distribution plan; amendments to the company’s business sectors and charter; the 2024 performance report and 2025 activity plan of the Board of Directors; and the approval of the selection process for an auditing firm for the 2026–2028 financial statements, etc.
In 2024, amidst global and domestic challenges, EVNGENCO 3 maintained stable production and business operations. The parent company’s electricity output reached 23.358 billion kWh, achieving 92.14% of the plan set by the General Meeting. Total revenue was 39,678 billion VND, meeting 98.3% of the plan, with pre-tax profit (excluding exchange rate differences) at 528 billion VND.

The Corporation’s power plants operated reliably and stably, effectively meeting the mobilization demands of the national power system. EVNGENCO 3 implemented comprehensive measures to enhance production efficiency, with a key focus on reducing the heat rate of coal-fired power plants to the Power Purchase Agreement (PPA) target in 2025. The corporation completed nine major overhaul projects for power units and numerous auxiliary projects, while also executing operation, maintenance, and repair contracts for Phu My 3 and Phu My 2.2 power plants as directed by EVN. All power plants strictly adhered to environmental protection regulations, with monitoring indicators within standard limits, effective management of ash and slag storage sites, and increased utilization of ash and slag.

EVNGENCO 3 restructured a portion of the loan for the Mong Duong 1 Power Plant project (81.5 million USD) with domestic commercial loans, contributing to reduced financial costs. In 2024, EVNGENCO 3 was recognized among the Top 20 Best Annual Reports in the non-financial sector, out of nearly 600 participating enterprises, at the Listed Companies Awards. On December 31, 2024, the State Capital Investment Corporation issued Decision No. 673/QD-UBQLV, approving the actual value of state capital at the time of EVNGENCO 3’s official conversion to a joint-stock company. Accordingly, on February 18, 2025, EVNGENCO 3 signed a handover protocol, completing its equitization process.

Mr. Le Van Danh, Member of the Board and General Director of EVNGENCO3, presents the report at the General Meeting

As of May 31, 2025, the parent company’s electricity output reached 10.802 billion kWh, equal to 126.33% of the EVN-assigned target for the first five months of the year. For the full year 2025, the parent company aims to produce 25.374 billion kWh. EVNGENCO3 has proactively secured sufficient fuel for production, and its generation units remain ready to meet dispatch requirements from the National Power System and Market Operation (NSMO). 

Mr. Dinh The Phuc – Member of the EVN Member Council – speaks at the General Meeting

Speaking at the meeting, Mr. Dinh The Phuc praised EVNGENCO3’s performance in 2024, particularly its efforts in working alongside EVN to ensure stable electricity supply for the country’s socio-economic development. He encouraged the Corporation to maintain reliable power generation, proactively secure coal and gas fuel supplies, ensure operational readiness of all generation units, promote technology innovation, and expand investment in clean and green energy projects.

Mr. Dinh Quoc Lam – Chairman of the Board of Directors of EVNGENCO3 – delivers remarks

On behalf of the Board of Directors, Mr. Dinh Quoc Lam expressed appreciation for the valuable feedback from EVN’s leadership and major shareholders of PGV. He affirmed the Board’s commitment to working closely with the executive team to achieve production and business targets, safeguard and grow investor capital, protect shareholder interests, foster innovation, and promote the application of advanced technologies for sustainable development, striving to fulfill all technical and economic indicators as approved by the General Meeting.

Shareholders engage in discussion at the meeting

The General Meeting approved the supplementary election of Board and Supervisory Board members, including: Mr. Ho Anh Tuan – Head of Planning Department, EVN, elected to the Board of Directors of EVNGENCO3, replacing Mr. Nguyen Minh Khoa; and Mr. Nguyen Van Dong - Specialist from the Internal Audit & Financial Supervision Department, EVN, elected to the Supervisory Board, replacing Ms. Vu Hai Ngoc. All proposals and resolutions presented at the General Meeting were adopted with a 100% approval rate from voting shareholders in attendance.

Mr. Dinh The Phuc – Member of the Member Council of EVN, and Mr. Dinh Quoc Lam – Chairman of the Board of Directors of EVNGENCO3, presented flowers to congratulate Mr. Ho Anh Tuan – Head of EVN’s Planning Department, newly appointed Member of the Board of Directors of EVNGENCO3, and Mr. Nguyen Van Dong – Specialist at EVN’s Internal Audit & Financial Supervision Department, newly appointed Member of the Supervisory Board of the Corporation.

Recognizing its vital role in electricity supply, EVNGENCO3 will continue implementing optimal production plans for its existing power sources, proactively ensure adequate fuel reserves, and accelerate the transition toward clean and green energy. The Corporation also aims to become a trusted provider of operation and maintenance (O&M) services for power plants, and a capable project management service provider for both power sector and cross-sector infrastructure projects in the future.