Overview
Established in 1990, GELEX has made remarkable strides along with Vietnam’s economic transformation and growth during the past three decades. Through its subsidiary companies, GELEX proudly owns renowned national brands such as Viglacera, CADIVI electric cables, EMIC electrical measuring equipment, THIBIDI transformers, HEM electric motors, CFT copper wires, Song Da clean water plants …. Presently, GELEX is positioned to become the leading Investment Group in Vietnam.
Vision - Mission - Core Values
Core Values
Prestige: We are committed to doing what we say and saying what we do. For Gelex, prestige is an invaluable and inviolable asset. This is key to the success of GELEX personnel and brand so far.
Quality: Product quality and environmental friendliness are our top priorities. We have constantly improved our performance and looked for the best ways to achieve the highest customer satisfaction in the most time- and cost-effective manner.
Creativity: Creativity is what differentiates GELEX in the market. We have constantly improved and made great effort to find new directions and actively create breakthroughs.
Vision
GELEX sets the target to become a Vietnam’s leading investment group with two core business sectors, Industrial Production and Infrastructure, creating long-term and sustainable accumulated value for customers, shareholders, community, and employees.
Mission
GELEX commits to offering customers premium products by modern technology solutions and outstanding services.
Core Values
Prestige: We are committed to doing what we say and saying what we do. For Gelex, prestige is an invaluable and inviolable asset. This is key to the success of GELEX personnel and brand so far.
Quality: Product quality and environmental friendliness are our top priorities. We have constantly improved our performance and looked for the best ways to achieve the highest customer satisfaction in the most time- and cost-effective manner.
Creativity: Creativity is what differentiates GELEX in the market. We have constantly improved and made great effort to find new directions and actively create breakthroughs.
Vision
GELEX sets the target to become a Vietnam’s leading investment group with two core business sectors, Industrial Production and Infrastructure, creating long-term and sustainable accumulated value for customers, shareholders, community, and employees.
Mission
GELEX commits to offering customers premium products by modern technology solutions and outstanding services.
DEVELOPMENT HISTORY
1990
ESTABLISHMENT
- Electrical Engineering Equipment Joint Stock Corporation, currently known as Vietnam Electrical Equipment Joint Stock Corporation, was established under Decision No. 237 QD/CNNg-TCNS on July 10th, 1990 of Ministry of Heavy Industry (Now Ministry of Industry and Trade).
- Major business: Production, service and direct import – export of electrical equipment, electrical engineering materials.
- Total charter capital: VND 177 billion.
2006
ADJUSTED STRUCTURE
- Transformed into Parent Company – Subsidiaries Model under the Decision No.127/2006/QD-BCN on August 2nd, 2006 of Ministry of Industry and Trade.
- Major business: Import and export of electrical equipment and materials, industrial and civil electrical spare parts; Designing, manufacturing, trading and repairing electric measuring and counting equipment; Real estate, hotel services, tourism and offices for rent.
- Total charter capital: VND 500 billion.
2010
EQUITIZATION
- Implemented equitization in accordance with Decision No. 1422/QD-TTg dated 10/08/2010 by the Prime Minister.
- Renamed as Vietnam Electrical Equipment Joint Stock Corporation; registered trademark logo protection
- Total charter capital: VND 1,400 billion.
2015
OWNERSHIP STRUCTURE TRANSITION
- Revenue: VND 8,382 billion.
- Profit before tax: VND 574 billion.
- Charter capital was raised up to VND 1,550 billion
- 10/2015: Transacted on UPCOM – HNX.
2017
OPERATION EXPANSION
• Revenue: VND 11,984 billion.
• Profit before tax: VND 1,658 billion.
• Charter capital was raised up to VND 2,668 billion.
• Expansion of business areas:
– Energy field (establishing Gelex Energy One-member Limited Company);
– Logistics field (M&A South Logistics Joint Stock Company – SOTRANS);
– Pure Water field (M&A of Song Da Water Investment Joint Stock Company).
2018
REORGANISATION
• Revenue: VND 13,699 billion.
• Profit before tax: VND 1,533 billion.
• Charter capital: VND 4,065.6 billion.
• 18/01/2018: Traded on Ho Chi Minh Stock Exchange (HOSE) – GEX code.
• Operation under the model of a corporation, focusing on 2 areas: Industrial production (electrical equipment) and Infrastructure (electricity – water – logistics – real estate).
2019
CORE AREAS DEVELOPMENT
• Revenue: VND 15,315 billion.
• Profit before tax: VND 1,102 billion.
• Charter capital: VND 4,882 billion.
• Investment focused on:
– Industrial production (manufacturing and trading electrical equipment);
– Infrastructure (electricity production, pure water and office real estate).
2020
ENHANCING CORE FIELDS PRODUCTION CAPACITY
• Target revenue: VND 19,600 billion.
• Target profit before tax: VND 975 billion.
• Core business development:
– Industrial production (electrical equipment and construction materials);
– Infrastructure (electricity and pure water production, investment in the development of industrial zones and ecosystems around the industrial parks).
MANAGEMENT BOARD
- Profile Hien brings over 20 years of professional experience & expertise in foreign trade, power generation & clean water generation, real estate, business expansion, IPO, M&A, asset valuation, corporate & project finance, investment management, divestment, green field project development & project management, restructuring & reengineering in company, corporate governance, making strategy, and leading big organizations.
- Prior to Gelex Group, he had 13 years with REE Corporation and SCIC (the State Capital Investment Corporation). At REE & SCIC, Hien experienced C-level Jobs and served on the Boards of several listed companies;
- Before SCIC, he had 3 years with a leading investment consulting firm. In this role he led various tasks for a number of well-known companies and Vietnamese government agencies regarding their investment and projects in Vietnam.
- Vietnam Electric Cable Corporation
- Electrical Equipment Joint Stock Company (THIBIDI)
- Emic Electrical Measuring Instrument Joint Stock Company
- Hanoi Electromechanical Manufacturing Joint Stock Company
- CFT Vina Copper Company Limited
- Gelex Power Generation Company Limited
- Dong Anh Manufacturing Electrical Equipment Joint Stock Company
- Quang Tri Gelex Energy Joint Stock Company
- Gelex Electricity Trading Joint Stock Company
Sustainable Development
With the operating model of a corporation managing capital investment in 02 core business areas of Industrial Production and Infrastructure, GELEX pursues the model of Sustainable Development based on 5 main sustainability factors including including: Society – Environment – Customers – Shareholders & Partners – Employees. GELEX’s sustainable development goals are to maintain the harmony of interests between Enterprises and Customers, with Shareholders and partners; creating a friendly and civilized working environment for employees; bring meaningful values to the community; at the same time, affirms the reputation and goodwill of the business in its commitment to environmental protection in general.
