MT S NT CHNH V CNG TY C PHN THY IN S SAN 4A

Ngy 26/04/2016, S Giao dch Chng khon Thnh ph H Ch Minh (SGDCK

Tp.HCM) cp Quyt nh Nim yt s 175/Q-SGDHCM cho php Cng ty C phn Thy
in S San 4A trn SGDCK Tp.HCM. Theo d kin ngy 27/05/2016, c phiu ca Cng ty
C phn Thy in S San 4A s chnh thc giao dch trn SGDCK Tp.HCM vi m chng
khon l S4A vi gi tham chiu l 15.000 ng/c phiu v bin dao ng gi trong ngy
giao dch u tin l +/-20%.
gip qu c gi c thm thng tin, SGDCK Tp.HCM xin gii thiu mt s nt chnh
v lch s thnh lp, qu trnh hot ng v nhng kt qu kinh doanh ng ch ca Cng
ty C phn Thy in S San 4A trong thi gian qua.
I.
GII THIU CHUNG V CNG TY:
Tn Cng ty: Cng ty c phn Thy in S San 4A
Tn ting Anh: SESAN 4A HYDROELECTRIC JOINT STOCK COMPANY
Tn vit tt:
SHJC
Tr s chnh:
650 L Dun, Phng Thng Li, Thnh ph Pleiku, Tnh Gia Lai, Vit Nam.
in thoi:
(84.59) 3756096
Fax: (84.59) 3756097
Website:
www.sesan4a.com.vn
Cng ty C phn Thy in S San 4A hot ng kinh doanh chnh l u t xy dng v vn
hnh Nh my Thy in S San 4A. Nh my Thy in S San 4A xy dng ti x IaO, huyn
Iagrai, tnh Gia Lai, c khi cng vo u nm 2008, hon thnh vo cui nm 2011 vi tng
vn u t gn 1.500 t ng. y l cng trnh thy in nm bc thang cui cng trn h
thng sng S San, gm 03 t my vi tng cng sut 63 MW, in lng trung bnh hng nm
t 331,2 triu kWh. Nh my Thy in S San 4A c xem l mt trong nhng d n thy
in c mc u t, cng sut ln nht Vit Nam s dng cng ngh tuabin capsun (Dng
bng n) cho n thi im hin ti do t nhn u t xy dng, gp vn vi hnh thc cng ty
c phn. D n cng c mc u t rt thp, khong 24 t ng/MW.
Chnh thc i vo vn hnh t cui nm 2011, n nay Nh my Thy in S San 4A cung
cp cho h thng in quc gia hn 1 t kWh, gp phn khc phc tnh trng thiu ht in ca
h thng in quc gia, gp phn vo n nh Kinh t - X hi ca tnh Gia Lai ni ring cng
nh khu vc Ty Nguyn ni chung.
Cc lnh vc kinh doanh chnh:
Theo Giy chng nhn ng k doanh nghip: s 5900413305 (s c 3903000124) do S
K hoch v u t tnh Gia Lai cp ln u ngy 15/05/2007, ng k thay i ln th 1 ngy
16/12/2013 th ngnh ngh kinh doanh ca cng ty gm:
Xy dng cng trnh k thut dn dng khc. Chi tit: u t xy dng v qun l vn
hnh nh my thy in, Xy dng cng trnh cng nghip, Xy dng ng dy v trm
bin th
Xy dng nh cc loi. Chi tit: Xy dng cng trnh dn dng
Xy dng cng trnh ng st v ng b. Chi tit: Xy dng cng trnh giao thng
Xy dng cng trnh cng ch. Chi tit: Xy dng cng trnh thy li
Bn bun vt liu, thit b lp t khc trong xy dng. Chi tit: Mua bn vt liu xy
dng
Chun b mt bng. Chi tit: San lp mt bng
Sn xut, truyn ti v phn phi in. Chi tit: Sn xut in; truyn ti in
Phn phi v kinh doanh in nng;

Trang 1/8

 Sa cha my mc, thit b. Chi tit: Dch v sa cha, bo tr, th nghim nh my thy
in, li in
Dch v h tr lin quan n qung b v t chc tua du lch. Chi tit: Dch v du lch l
hnh ni a (Doanh nghip ch c php hot ng ngnh ngh ny khi m bo y
cc iu kin theo quy nh ca php lut)
Gio dc khc cha c phn vo u. Chi tit: H tr, hng dn vn hnh, qun l,
bo dng, sa cha thit b nh my thy in
Khai thc , ct si, t st. Chi tit: Sn xut vt liu xy dng (tn dng t vic u t
xy dng cng trnh thy in)
II.
KT QU HOT NG KINH DOANH:
1. Kt qu hot ng kinh doanh 2013-2015

Ch tiu
Tng Ti sn
Vn ch s hu

Nm 2013

Nm 2014

1.363.078.987

1.318.426.389

% tng
(gim)
2014/2013
-3,28 %

441.655.592

426.680.710

-3,39 %

n v: 1.000 ng
% tng
Nm 2015
(gim)
2015/2014
1.286.460.205
-2,42%
456.587.083

7,01%
DT thun
265.850.178
279.518.781
5,14%
228.586.567
-18,22%
LN gp v bn hng
190.910.225
193.523.259
1,37%
140.391.094
-27,46%
v cung cp dch v
Li nhun t HKD
67.637.445
92.528.350
36,80 %
23.711.003
-74,37%
T sut LN gp
72%
69%
-3,59%
61%
-10,99%
Li nhun khc
40.527
-1.826.324
288.151
-115,78%
LNTT
67.677.973
90.702.026
34,02 %
23.999.154
-73,54%
LNST
67.650.341
90.702.026
34,07 %
22.695.490
-74,98%
T l LNST tr c tc
93,57%
93,05%
-0,56%
93,97%(*)
-0.09%
Ngun: BCTC kim ton nm 2013, 2014 v 2015 ca CTCP Thy in S San 4A

Kt qu hot ng kinh doanh trong nm 2014 c s tng trng tch cc so vi 2013 do cc

nguyn nhn sau:
- Trong nm 2014, Cng ty lm vic vi Ngn hng ti tr vn BIDV ngh gim li
sut vay ca hp ng tn dng, Ngn hng iu chnh gim li sut hai ln trong nm 2014,
li sut vay hin nay ang p dng l 6,5%/ nm vi khon vay USD v 9,5%/nm i vi khon
vay VN.
- Hot ng sn xut kinh doanh in trong nm 2014 gp nhiu thun li, tnh hnh kh
tng thu vn khu vc Ty Nguyn lng ma u trong cc thng, dn n lng nc v
h n nh, sn lng in thng phm sn xut vt k hoch hn 5% trong nm.
- Thc hin iu tit tt lu lng nc v h trong ma kh nng cao hiu qu vn
hnh, do doanh thu v gi bn in bnh qun tng hn 5% so vi gi in bnh qun ca hp
ng.
Hot ng sn xut kinh doanh in 2015 gp nhiu kh khn, kt qu cha t c theo k
hoch c HC thng qua vi cc nguyn nhn chnh sau:
- V sn lng: Do nh hng ca hin tng thi tit El Nino nn tnh hnh kh tng
thy vn khu vc Ty Nguyn lng ma gim t 30% n 40% so vi lng ma trung bnh
nhiu nm dn n lng nc v h S San gim tng ng. sn lng in sn xut nm 2015
ca Nh my c s gim nh so vi cng k, t 283,48 triu kWh, t 87,44% k hoch sn

Trang 2/8

lng in nm 2015 (324,2 triu kWh). Theo , doanh thu v li nhun sau thu nm 2015 t
ln lt 228,59 t ng v 22,69 t ng hon thnh 86,88% v 35,09% k hoch doanh thu v
li nhun 2015.
- V chi ph: Do khon d n vay bng USD vi s d u k l 30.230.000 USD, trong
nm 2015 do t gi bin ng t gi tng t bin hn 5% nn Cng ty phi chu khon l chi
ph chnh lch t gi cui k cha thc hin l 31.876.810.000 (Cng ty dng khon chi ph
tr n trc hn khon 1.500.000 USD). V cc chi ph khc khng c bin ng ln tng
gim nm trong phm vi + 5% so vi k hoch.
- Gi bn in cha c b t gi theo quy nh ca B Cng thng.

2. Cc ch tiu ti chnh c bn
n v

Ch tiu

Nm
2013

Nm
2014

Nm
2015

Ch tiu v kh nng thanh ton

H s thanh ton ngn hn
Ln
1,01
1,46
1,50
= TSL/ N ngn hn
H s thanh ton nhanh
Ln
0,87
1,29
1,48
=(TSL-Hng tn kho)/N ngn hn
Ch tiu v c cu vn
H s n/tng ti sn
Ln
0,70
0,68
0,65
H s n/vn ch s hu
Ln
2,31
2,09
1,82
Ch tiu v nng lc hot ng
Vng quay hng tn kho
Vng
7,88
7,03
13,83
= Gi vn hng bn/Hng tn kho BQ
Vng quay tng ti sn
vng
0,20
0,21
0,18
=DTT/Tng ti sn BQ
Ch tiu v kh nng sinh li
H s LNST/DTT
%
25
32
10
H s LNST/vn ch s hu BQ
%
16
21
5
H s LNST/tng ti sn BQ
%
5
7
2
H s LN t HKD/ DTT
%
25
33
10
Thu nhp trn c phn (EPS)
ng
1.603
2.149
538
Ngun: BCTC kim ton 2013, 2014 v 2015 ca CTCP Thy in S San 4A

- Cc h s thanh ton ngn hn v thanh ton nhanh ca S San 4A c duy tr n nh

v an ton qua cc nm, m bo yu cu doanh nghip hon thnh c ngha v tr n khi n
hn, c th: trong nm 2015, h s thanh ton nhanh v ngn hn ln lt t 1,48 v 1,50 ln,
duy tr mc n nh ln hn 1.
- H s c cu vn: T l N/Tng ti sn 2015 ca Cng ty l 0,65. Ton b khon vay
ca Cng ty u vay t Ngn hng TMCP u t v Pht trin Vit Nam t nm 2008 ti tr
cho D n Nh my Thy in S San 4A.
- Cc ch tiu v kh nng sinh li: Trong nm 2015, kt qu kinh doanh gp nhiu bt li
nn cc ch tiu v kh nng sinh li c s suy gim so vi giai on trc . C th: cc ch
tiu v h s Li nhun sau thu/Tng ti sn v Li nhun sau thu/Vn ch s hu trong nm
2015 t ln lt 2% v 5%, thp hn mc 7% v 21% tng ng ca nm 2014.

3. Sn lng sn phm qua cc nm:

Ch tiu

n v

Nm 2013

Nm 2014

Nm 2015

Sn lng in

kWh

334.140.000

348.961.000

282.960.000

Trang 3/8

% tng (gim)
2015 so vi 2014
-18,91%

thng phm
Doanh thu theo
sn phm
Gi vn theo sn
phm

Triu
ng
Triu
ng

265.850

279.519

228.587

-18,22%

74.940

85.996

88.195

2,56%

Ngun: CTCP Thy in S San 4A

Trong nm 2014, hot ng sn xut kinh doanh in gp nhiu thun li, tnh hnh kh
tng thy vn khu vc Ty Nguyn lng ma u trong cc thng ma ma dn n lng
nc v h S San 4A n nh, do sn lng in thng phm v doanh thu ca Cng ty ci
thin ng k.
Tuy nhin, bc sang nm 2015 kh hu v thy vn li c nhng bin i phc tp do nh
hng ca hin tng El Nino nn ma ma n chm, lng ma trn khu vc min Trung v
Ty Nguyn gim trm trng, lu lng nc khng m bo pht in dn n sn lng
in sn xut trong nm 2015 gim nh so vi cng k, c th tng sn lng sn xut t
282,96 triu kWh bng 85% sn lng thit k v gim 18,91% so vi mc sn xut trong nm
2014. Theo , mc doanh thu trong nm 2015 cng bin ng gim 18,22%, trong khi gi vn
li tng nh 2,56%.

4. Nguyn liu u vo
Vic sn xut thy in ph thuc hon ton vo tnh hnh thi tit, c th l lng ma
hng nm trn lu vc sng S San, c bit kh hu Ty Nguyn c chia lm 2 ma ring bit
ma ma t thng 5 n thng 10, ma kh t thng 11 n thng 4 nm sau. Do vy, khc
phc tnh cht thi v ca thi tit nhm m bo k hoch sn lng: trong ma ma lng
nc v h cha nhiu, Nh my vn hnh ht cng sut ca ba t my, m bo pht in v
ng thi phng nga l lt theo quy nh vn hnh lin h cha trn dng sng S San nh my
bt buc phi x trn. Cn v ma kh, Nh my duy tr pht in theo quy trnh iu tit h
cha. Do h cha ca S San 4A nh ch iu tit ngy nn hot ng sn xut in cn ph
thuc vo s hot ng ca cc nh my thy in trn thng ngun. Vi h thng cc h cha
ca cc Nh my thy in nm pha trn thng ngun: nh thy in Thng Kon Tum trn
nhnh k Bla: 145 triu m3; Plei Krng trn nhnh Krng PK: 948 triu m3; Yaly: 779 triu
m3; S San 3: 92 triu m3; S San 3A: 80,6 triu m3; S San 4: 893 triu m3 c dung tch ln
nn s lun m bo cho Nh my thy in S San 4A nc pht in khi cc Nh my trn
thng ngun pht in.
Nh my Thy in S San hin c 03 t my, ty thuc vo tnh hnh lu lng nc v
h m Nh my c th pht in mt s hoc ton b cc t my. Vic duy tu, sa cha my
mc thit b lun c thc hin nh k, m bo my mc thit b lun trong tnh trng bo
dng tt nht, sn sng cho vic chy my khi lu lng nc v h n nh.
5. Chi ph hot ng sn xut kinh doanh
Nm 2013
Ch tiu
Chi ph nguyn liu, vt liu
Chi ph nhn cng
Chi ph khu hao TSC
Chi ph dch v mua ngoi

Gi tr
481.232
7.228.517
49.287.367
395.723

T
trng
%
0,57
8,63
58,82
0,47

Trang 4/8

Nm 2014
Gi tr
163.508
8.781.947
49.023.243
885.395

T
trng
%
0,18
9,74
54,36
0,98

n v: 1.000 ng
Nm 2015
T
Gi tr
trng
%
6.920.863
7,33
7.455.752
7,90
48.960.469 51,89
1.647.123
1,74

Chi ph d phng
405.833
0,43
Chi ph khc bng tin
26.405.421 31,51 31.333.302 34,74
28.968.858 30,70
Tng cng
83.798.260
100 90.187.395
100
94.358.898
100
Ngun: BCTC kim ton nm 2013, 2014 v 2015 ca CTCP Thy in S San 4A

Vi c tnh hot ng ca nh my thy in, chi ph cu thnh ch yu trong tng chi

ph hng nm l chi ph khu hao ti sn c nh do u t xy dng v chi ph my mc thit b
cao, chim bnh qun 50% - 60% c cu chi ph sn xut.
Chi ph ln th hai i vi Cng ty, ch yu l cc khon chi ph li vay, chi ph b trt
t gi hng nm,
Chi ph nhn cng l khon mc chi ph chim t trng tng i cao trong c cu chi ph
ca S san 4A. Khon mc chi ph ny ln lt chim 8,63%, 9,74% v 7,90% c cu chi ph
hot ng sn xut kinh doanh trong nm 2013, 2014 v 2015.
Cc khon chi ph cn li ch chim t trng nh, c bit l chi ph nguyn liu khng
ng k do ngun nguyn liu u vo ch yu l ngun nc thin nhin. Tuy nhin, trong nm
2015, Cng ty thc hin u t thay th thit b ti Nh my thy in nn khon mc chi ph
nguyn vt liu trong k c s gia tng t bin so vi cc k trc.
Ch tiu
Gi vn hng bn
Ch ph qun l
Chi ph ti chnh

Nm 2013
Gi tr
%DTT
74.939.952
28,19
9.474.597
3,56
115.323.720

43,38

Nm 2014
Gi tr
%DTT
85.995.522
30,77
5.001.539
1,79
98.279.280

35,16

n v: 1.000 ng
Nm 2015
Gi tr
%DTT
88.195.473
38,58
6.613.425
2,89
114.492.940

50,09

Trong : Chi ph li vay

89.039.945
33,49
72.784.271
26,04
63.983.378
27,99
Chi ph khc
109.473
0,04
2.382.065
0,85
717.335
0,31
Tng cng
199.847.742
75,17
191.658.406
68,57
210.019.173
91,88
Doanh thu thun (DTT)
265.850.178
100
279.518.781
100
228.586.567
100
Ngun: BCTC kim ton nm 2013, 2014 v 2015 ca CTCP Thy in S San 4A

Chi ph ti chnh chim t trng nhiu nht trn doanh thu thun ca Cng ty qua cc nm.
C th, chi ph ti chnh ln lt chim 43,38% v 35,16% trn doanh thu thun trong nm 2013,
2014 v tng ln mc 50,09% trong nm 2015, nguyn nhn chnh l do Cng ty s dng cc
khon vay ngoi t u t vo Nh my thy in do bin ng t gi trong nm 2015
pht sinh tng t bin khon l chnh lch t gi trong nm gi tr khong hn 33 t ng.
Chi phi gi vn hng bn: c xu hng tng vi nm 2013 l 28,19%, nm 2014 l
30,77% v nm 2015 l 38,58%, nguyn nhn do mc Thu sut thu Ti nguyn nc tng t
2% ln 4% theo Ngh quyt s 712/2013/UBTV H13 ngy 16/12/2013 ca UBTV H, c hiu
lc p dng t thng 2 nm 2014.
Chi ph qun l v chi ph khc chim t trng nh trn tng doanh thu. c bit l chi ph
qun l ang c xu hng gim t mc 3,56% tng doanh thu thun nm 2013 cn ln lt n
nh mc 1,79% v 2,89% trong nm 2014, 2015 th hin cng tc qun l chi ph vn phng
v nh my ca Cng ty ang dn hiu qu qua cc nm.
Ngoi ra, sn phm in u ra ca Cng ty lun c m bo bng hp ng di hn vi
Cng ty Mua bn in Tp on in lc Vit Nam (EVN), do ton b doanh thu ca Cng
ty thu c t hot ng bn in nn khng pht sinh chi ph bn hng.
III.

V TH CA CNG TY TRONG NGNH V TRIN VNG CA NGNH:

1. V th ca Cng ty trong ngnh

Trang 5/8

Xt v mt cng sut: S San 4A l mt trong 6 nh my thy in c xy dng trn

sng S San. Nh my thy in S San 4A gm 3 t my vi tng cng sut t l 63MW. So
vi cc nh my thy in trn ton quc th S San 4A xp th 17 trong Nhm 2 (nhm cc nh
my thy in c cng sut t 50MW ti 100MW). ng thi, so vi cc nh my thy in
khc ti khu vc Ty Nguyn, cng sut ca S San 4A nm trong nhm c cng sut thp.
Xt v mt cng ngh: Ba t my ca Nh my thy in S San 4A c c th ct nc
thp, s dng tua bin thuc loi capsun, l loi tua bin u tin c lp t ti Vit Nam.
T khi ha mng li in quc gia ti nay, S San 4A lun hot ng ht cng sut. Kt
qu hot ng kinh doanh ca S San 4A lun thu c li nhun cao, a li gi tr cho cng ty
v cc c ng.
i vi Nh my Thy in S San 4A, sn lng in sn xut hng nm ph thuc hon
ton vo ch thy vn v yu t thit b. Tuy nhin, nu so snh vi cc nh my c cng
cng sut th Nh my Thy in S San 4A c thun li l in pht ra c u ni vo ng
dy 220kV, c th truyn ti ra Bc hay vo Nam u c.
2. Trin vng pht trin ca ngnh
Nhu cu s dng in ca Vit Nam vn ang c xu hng tng nhanh, d tnh trung bnh
hn 10% mt nm trong nhng nm tip theo. Tnh trng mt in vn xy ra cho thy nhu cu
i vi sn phm ny vn ang ln hn kh nng sn xut trong nc v ngnh in ang l mt
trong nhng ngnh c khuyn khch h tr ca Chnh ph. Trong nhng nm ti, bng gi
in c ph duyt tng thm s to ra thun li ln cho hot ng sn xut kinh doanh cho cc
cng ty trong ngnh nng lng in.
Tiu th in trung bnh ca Vit Nam khong 1.300 kWh /bnh qun u ngi, thp hn
so vi cc nc trong khu vc v c nhiu tim nng pht trin. Trong , min Nam thng c
nhu cu s dng in cao hn cc khu vc khc, chim khong 50% tng nhu cu in c nc
do nhu cu in cho cng nghip v kinh doanh cao hn.
Giai on 2014 2015, ngnh in Vit Nam vn tip tc duy tr tng trng n nh.
C th, trong nm 2014 v 11 thng u nm 2015 sn lng in sn xut v mua ngoi ca
EVN t ln lc 146,49 t kWh v 142,5 t kWh. Tuy nhin, ngun in c phn b khng
ng u, ngun in ti ch ca min Nam tip tc thiu, h thng in phi ti in t min
Bc v min Trung, tng thm chi ph chuyn ti. D on trong nhng nm ti, vi s m ca
th trng, Vit Nam ni chung v min Nam ni ring s thu ht thm nhiu d n u t mi,
ng thi lm tng thm nhu cu v s dng in.

IV.

K HOCH SN XUT KINH DOANH, LI NHUN V C TC

TRONG NM 2016-2017

Ch tiu
DTT (triu ng)
LNST (triu ng)
Vn iu l (triu ng)
Vn ch s hu (triu ng)
T l LNST/DTT
T l LNST/Vn CSH bnh qun

Nm 2016
% tng
K hoch
(gim)/ TH
2015
228.945
45.723
422.000
464.000
19,97%
10,44%

Trang 6/8

0,16%
101,47%
0,65%
101,15%
103,11%

Nm 2017
% tng
K hoch
(gim)/ KH
2016
266.992
79.157
422.000
467.000
29,65%
17,00%

16,62%
73,12%
0,65%
48,45%
62,84%

C tc

10,83%

116,60%
18,76%
73,22%
Ngun: CTCP Thy in S San 4A

Cn c xy dng k hoch nm 2016

Nm 2016 c nh gi l mt nm y kh khn thch thc vi nhim v sn xut kinh doanh
ca cng ty b tc ng bi 02 yu t chnh c kh nng nh hng ln n kt qu sn xut kinh
doanh ca cng ty:
- V sn xut in nng, do nh hng ca hin tng thi tit El Nino nn tnh hnh kh
tng thy vn khu vc Ty Nguyn lng ma trong nm 2015 gim 30 n 40% lng ma
trung bnh nhiu nm do lng nc trn cc h cha trn dng sng S San gim, d bo
hin tng El Nino s cn ko di n ht ma kh nm 2016, do lu lng nc v h tip
tc gim dn n 06 thng u nm 2016 Nh my thy in S San 4A ch duy tr pht in
c 01 t my, nn vic sn xut in s tp trung vo cc thng cui nm. Do , sn lng
in sn xut trong nm d kin tng ng sn lng ca nm 2015 v bng 85% cng sut
thit k. Theo , mc sn lng in sn xut v doanh thu tng ng 2015.
- Nm 2016 mc d sn lng v doanh thu tng ng nm 2015 nhng mc Chi ph
ti chnh s bin ng gim do cc nguyn nhn:
Li vay gim do d n gc gim;
Chi ph chnh lch t gi trong giai on u t phn b xong trong nm 2015 (gi
tr khong 16,4 t ng) do trong nm 2016 s khng pht sinh thm khon mc chi ph ny;
Do tnh hnh d n vay bng ng USD ca S San 4A ti Chi nhnh Ngn hng u t
v Pht trin Nam Gia Lai n ti thi im 31/12/2015 l 26,73 triu USD vi tnh hnh bin
ng t gi tng t bin nh trong nm 2015 l 5,23% v d bo nm 2016 l khong 5%, do
yu t t gi cc chi ph ti chnh lin quan n bin ng t gi cng s tng ng 2015 .
Cn c XD k hoch nm 2017:
- V sn lng: Sn lng in thit k ca Cng ty l sn lng bnh qun hng nm
c n v T vn thit k tnh ton da trn tnh ton thy vn nhiu nm trn lu vc ca
Sng S San, y l c s Cng ty xy dng k hoch kinh doanh cho nm 2017. Nu khng
c hin tng bt thng th y l con s rt kh quan v trong cc nm 2012, 2103, 2014 sn
lng in u vt con s ny, c th: 2012: 373,8 triu KWh; 2013: 344,1 triu kWh v nm
2014 l 348,9 triu kWh, nm 2015 sn lng gim l do hin tng bt thng ca thi tit.
- V chi ph: Chi ph bin ng gim ch yu l do chi ph li vay gim v gim d n
gc do ch tiu li nhun sau thu tng gp 2 ln so vi nm 2016.
Bin php thc hin:
m bo m hon thnh theo ng k hoch sn xut kinh doanh ra, Cng ty ra
cc bin php khc phc cc kh khn, pht huy ti a nng lc sn xut hon thnh k hoch
ra cho giai on 2016 2017, c th nh sau:
- V qun l vn hnh sn xut in:
Thu n v ngoi thc hin duy tu, sa cha thit b cc thng ma kh theo ng k
hoch bo dng, sa cha nh k c H T thng qua.
Trong ma kh khai thc ti a ngun nc v h chy my pht in vi cng sut
ti a tng hiu qu vn hnh, v ma ma kt hp vi cc n v bc thang pha trn tn
dng ngun v h nhm pht in ht cng sut ca t my.
Xy dng k hoch vn hng, khoa hc, hiu qu, tit kim gim lng in t dng
nh my n mc thp nm trong khong 0,8 1,0%.
- i vi cng tc iu hnh sn xut kinh doanh:

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 Duy tr mi quan h tt vi cc n v Trung tm iu h thng in uc gia Ao

vn hnh sn lng t k hoch c duyt, vi Cng ty Mua bn in thu hi cng n
tin in hng thng kp thi p ng ngun vn phc v sn xut kinh doanh.
Xy dng, hon thin b mt qun l, iu hnh Cng ty theo quy nh qun tr cng ty
i chng tng hiu qu iu hnh sn xut kinh doanh, tit kim chi ph.
Thc hin cng tc bo dng thit b thng xuyn ti Nh my, mua sm vt t, thit
b d phng p ng nhu cu vn hnh, gim lng hng tn kho, d phng thp nht.
V. CC NHN T RI RO NH HNG N HOT NG KINH DOANH
CA CNG TY:
Bn cnh nhng ri ro v kinh t, ri ro v lut php ni chung,.. Cng ty cn c nhng ri ro
c th c nh hng n hot ng kinh doanh nh sau:
Ri ro v thi tit: Nguyn liu chnh ca ngnh thy in l ngun nc thin nhin nn ri ro
ny hon ton ph thuc vo iu kin thi tit Vit Nam. Trong trng hp hn hn ko di,
lng ma gim, lm lng tch nc trong h thp hn so vi nng lc thit k, nh hng ln
ti sn lng in sn xut ca nh my. Ngc li, cc thin tai nh l qut v ma ln s gy
thit hi v ng s v cc cng trnh p ca nh my, gy ra s c trong vic pht in v
tng chi ph sa cha.
Ri ro v ngun nng lng thay th: Ngun sn xut in hin nay ca nc ta cha p ng
nhu cu s dng in ca c nc, i hi b sung thm cc ngun nng lng thay th khc.
Trng hp cc ngun nng lng thay th nh cc d n v phong in v in mt tri hot
ng hiu qu v gim c ng k chi ph so vi cc ngun cung hin ti th y l mt mi
e da vi ngnh thy in trong tng lai.
Ri ro vic c quyn phn phi in: Hin nay, EVN c v th c quyn hon ton trong
ngnh in, c chc nng sn xut, truyn ti v phn phi in cho c nc. Do , cc cng ty
thy in gp nhiu kh khn trong vic m phn, k kt hp ng mua bn in t cc ngun
in mi ngoi EVN. Gi bn in ph thuc vo quyt nh B Cng thng v Tp on
EVN, cc nh my khng c iu chnh tng gi in hng nm theo c ch th trng, vic
ny dn n xut hin nguy c gi EVN xut thp hn mc mong i hoc khng b p
c chi ph u t v li vay ca Cng ty.
Ri ro v t gi: Ri ro t gi hi oi ch yu lin quan n cc khon vay ngoi t (USD) u
t vo Nh my Thu in S San 4A t Ngn hng TMCP u t v Pht trin Vit Nam c
th gy nh hng n dng tin ca n v. gim thiu tc ng ca ri ro ny, Cng ty s
dng cc bin php nh: ti u ho thi hn thanh ton cc khon n, la chn thi im mua v
thanh ton cc khon ngoi t ph hp, d bo t gi ngoi t trong tng lai, s dng ti u
ngun tin hin c cn bng gia ri ro t gi v ri ro thanh khon. Bn cnh ri ro v t
gi trong c cu gi thnh bn in cha c l trnh thanh ton r rng mc d cc vn bn v c
ch chnh sch c ban hnh nh Thng t 41/2010/TT-BCT ngy 14/12/2010, v chuyn
tip l Thng t 56/2014/TT-BCT, ngy 19/12/2014. i vi D n thy in S San 4A l d
n dng cng ngh tuabin capsun trc ngang u tin ti Vit Nam nn chi ph thit b nhp khu
tng i cao so vi cc loi hnh tuabin khc. Do , Cng ty phi vay mt lng ln ngoi t
(USD) mua thit b. Nu khng c thanh ton b t gi trong gi bn in vo thi gian ti
th y l mt ri ro ln v chi ph b trt t gi hng nm ca Cng ty khi t gi c s bin
ng.

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