GELEX ELECTRICITY JOINT STOCK COMPANY

GELEX ELECTRICITY JOINT STOCK COMPANY (CÔNG TY CỔ PHẦN ĐIỆN LỰC GELEX) is a publicly held joint stock company established on August 29, 2016, and registered with the Hanoi City Department of Planning and Investment. As one of Vietnam’s leading manufacturers and distributors of electrical equipment, the company operates across multiple segments, including power generation, electricity transmission, and industrial electrical solutions. With its headquarters in Hai Ba Trung District, Hanoi, and a workforce of 2,051 employees, GELEX ELECTRICITY JOINT STOCK COMPANY plays a crucial role in Vietnam’s expanding energy infrastructure. The company operates under Tax Identification Number (TIN) 0107547109 and is publicly traded on the Ho Chi Minh City Stock Exchange (HOSE) under the stock symbol GEE.

The company is chaired by Nguyen Van Tuan, with General Director Nguyen Trong Trung overseeing its daily operations. GELEX GROUP JOINT STOCK COMPANY holds an 80% controlling stake, while other institutional shareholders, including Computer - Communication - Control 3C Inc. and Tran Phu Electric Mechanical JSC, collectively own the remaining shares.

In recent years, GELEX ELECTRICITY JOINT STOCK COMPANY has experienced notable financial shifts, reflecting both the opportunities and challenges in Vietnam’s electricity sector. In 2023, total assets declined to USD 563.78 million, a 21.22% decrease from the previous year, reflecting strategic divestments and capital reallocation amid economic headwinds. Despite this, total sales remained stable at USD 682.28 million, experiencing only a marginal 0.34% decline. However, net profit dropped to USD 32.57 million, marking an 18.42% decline, signaling increasing production costs and sector-wide pressures on profitability. Meanwhile, owner’s equity slightly decreased to USD 244.52 million, maintaining a strong financial foundation despite market volatility.

The company’s core business revolves around manufacturing and distributing electrical equipment, including electric motors, transformers, generators, wiring devices, and communication equipment. Additionally, GELEX ELECTRICITY JOINT STOCK COMPANY is actively engaged in electricity transmission, power generation, and industrial energy solutions, further integrating itself into Vietnam’s energy transition and national grid expansion. The company also provides machinery repair and installation services, reinforcing its position as a full-service provider in the electrical infrastructure sector.

Vietnam’s electricity industry is undergoing rapid transformation, driven by industrial growth, urbanization, and increasing energy demand. While the company benefits from growing investments in power infrastructure, it faces several challenges, including regulatory shifts, fluctuating raw material costs, and global supply chain disruptions. Moreover, Vietnam’s push towards renewable energy presents both a challenge and an opportunity for GELEX ELECTRICITY JOINT STOCK COMPANY, as the demand for energy-efficient and smart-grid electrical solutionscontinues to grow.

Looking forward, the company’s ability to adapt to technological advancements, enhance production efficiency, and capitalize on Vietnam’s infrastructure development projects will be key to sustaining long-term growth. As the country moves toward a more diversified energy mix, GELEX ELECTRICITY JOINT STOCK COMPANY is well-positioned to leverage its expertise in electrical manufacturing and transmission solutions to support national energy goals.

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