GELEX has achieved impressive business results after 10 months, with consolidated net revenue reaching VND 26,668 billion, equivalent to completing 83% of the annual revenue target. Consolidated profit before tax reached VND 2,558 billion, equivalent to 130% of the plan.

The driving force for GELEX’s recent net revenue growth has mainly come from the positive growth of the Electrical Equipment segment. Currently, this segment of GELEX Group is managed by its member unit GELEX Electric (stock code GEE – HoSE). Thanks to the efforts in promoting and enhancing production and sales capacity, modernizing technology, and applying advanced management software, the company’s business performance has shown increasingly positive results. In addition, the expansion of new markets and export markets for electrical equipment products also recorded positive results.

Not only does the company produce electrical equipment in an environmentally friendly and sustainable way, but its divisions are also collaborating on research and development of new high-tech products. Early results have been promising, especially in fire prevention, security, and surveillance equipment.

Next, the Industrial Park and Real Estate segment, through its subsidiary Viglacera, is actively attracting quality investment capital. In the past year, Viglacera has 2 newly licensed industrial parks (IPs), with one of them announced to develop according to green and smart criteria. Many other industrial parks are in the process of “starting up”, striving to have 10 new industrial parks with an additional area of ​​2,000 to 3,000 hectares in potential locations by 2025.

Attracting FDI capital into Viglacera’s industrial parks has grown steadily, although Viglacera has chosen a very challenging direction, which is to promote sustainable development for ecosystem and environment. By the end of 2023, a total of USD 16 billion had been attracted to Viglacera’s industrial parks. As of now, this figure has risen to USD 18 billion. The new trend of investment capital poured into Viglacera’s industrial parks is characterized by high-quality capital sources, coming from enterprises considered “tech giants” in the segments of electronics and high technology.

Another attractive factor comes from the housing fund for employees and experts in industrial parks. The total area of ​​this type of housing will be invested by Viglacera up to nearly 190ha, approximately 6,700 apartments, invested synchronously with other facilities such as sports fields, flower gardens, kindergartens, medical stations, etc

A recent announcement from VIS Rating – a credit rating organization according to Moody’s standards, assessed GEX’s scale at “very strong”, reflecting its deep and solid presence in the market in core business segments, the diversity of products to serve market demand and the ability to maintain good relationships with suppliers and financial institutions.

VIS Rating also rated GELEX’s long-term issuer credit rating at A with a stable prospect. This is the first time VIS Rating has ranked GELEX.

Previously, Vietnam Report also announced that GELEX was in the Top 50 Most Profitable Enterprises in Vietnam 2024 for the 5th consecutive time. The company received the award for maintaining stable and sustainable business performance in the 2023-2024 period.

Additionally, GELEX was honored to be listed in the “TOP 100 Most Valuable Brands in Vietnam 2024” by Brand Finance and is among the top 10 brands with the largest brand value growth rate in 2024, with an impressive 55% increase.