In addition to maintaining the traditional markets in the electrical equipment manufacturing segment, GELEX Electric will expand its potential international market. According to the recently released AGM documents, those are the key plans of this business in 2023.

GELEX Electric aims to promote THIBIDI transformer products in Laos, Philippines, Myanmar, etc.; CADIVI products in the Australian, American, and Philippine markets; EMIC electrical measuring equipment in Southeast Asian countries, etc.

The units in the system will quickly complete and deploy the production of new products with high-technology content, suitable for domestic and foreign market demand.

As for the domestic market, many electrical equipments of GELEX Electric have been confirmed by the Association of High-Quality Vietnamese Goods Enterprises as “No. 1 market share in Vietnam”, a brand trusted by customers with a nationwide distribution system.

Hence, in 2023, GELEX Electric considers maintaining the traditional market in the electrical equipment manufacturing segment to be an important task of its member units, including CADIVI power cables, MEE transmission transformers, THIBIDI distribution transformers, HEM electric motors, EMIC electrical measuring equipment, etc.

Currently, GELEX Electric has many advantages when the system of member units produces and provides a full set of products in the value chain of the electricity segment, from transmission to distribution and civil use.

Therefore, in the coming period, the company will also cross-sell products, and take advantage of the system’s diversified strengths, such as trading in electricity in industrial parks. At the same time, the company will improve the quality of sales from optimizing shipping services to consumers in terms of time and cost, after-sale service, warranty, etc.

Though the price of raw materials remains high, the selling price will not increase in 2023. Hence, GELEX Electric expects consolidated net revenue to reach VND 19,421 billion, up by 16.5%; consolidated profit before tax will reach VND 928 billion, down by 17.1% compared to 2022.

Communication Department, GELEX Group