This was the key announcement at the Extraordinary General Meeting of Shareholders (EGM) of GELEX Electric JSC (ticker: GEE), held this morning, August 15, 2025

Overview of GELEX Electric’s Extraordinary General Meeting 2025.

Profit Target Doubled, Dividend Payout Raised to 60%

At the meeting, shareholders approved an upward revision to the company’s 2025 revenue target, increasing by 7% to VND 23,794 billion. Significantly, the pre-tax profit target was doubled to over VND 3,500 billion, while post-tax profit was raised by 118% to more than VND 2,819 billion compared with the initial plan.

In line with this adjustment, the dividend payout ratio was increased from 30% to 60%, including 40% in cash and 20% in shares. With nearly 366 million shares in circulation, GEE will pay about VND 1,464 billion in cash and issue an additional 73 million shares for the 2025 dividend. Following this distribution, the company’s charter capital is expected to rise to VND 4,392 billion.

Two Key Drivers Behind the Business Plan Adjustment

Explaining the sharp upward revision of profit targets, GEE’s Board of Directors stated that in the second half of this year, the company expects to divest certain investments not included in the original plan, generating more than VND 1,100 billion in extraordinary profit, equivalent to 68% of the pre-tax profit target approved at the Annual General Meeting in March.

The Board also highlighted the positive performance of core business activities, supported by an improving macroeconomic environment and new strategic initiatives. Subsidiaries such as CADIVI, EMIC, THIBIDI, and CFT have strengthened production, optimized operations, enhanced R&D, and developed products aligned with safety and environmental sustainability standards. This has enabled GEE to maintain its domestic leadership while expanding into key international markets.

Furthermore, the recovery of the real estate sector and increasing demand for infrastructure and industrial investment in Vietnam are providing strong momentum for the electrical equipment industry. Accordingly, GEE has proactively raised its core business profit target by nearly 40%, from VND 1,686 billion to VND 2,355 billion, demonstrating operational stability and sharing growth with its shareholders.

Expanding Partnerships to Advance Technology and Market Reach

Many shareholders expressed interest in recent news regarding GEE’s potential divestment of CADIVI shares to foreign partners. Company leadership explained that GEE is positioning itself as a high-tech industrial group, aiming to thrive in the global shift toward AI, automation, and digital transformation.

“To realize this strategy, GEE recognizes that we cannot grow in isolation. We need to collaborate with international partners of scale and expertise to co-develop technology and expand into new markets on a foundation of sustainable growth. Currently, not just one but several leading multinational electrical equipment groups have approached us for potential cooperation. We are carefully evaluating and selecting the most suitable partner,” GEE’s leadership stated.

GEE also reaffirmed its commitment to transparency, emphasizing the importance of keeping shareholders fully updated on the company’s financial developments as both a responsibility and obligation.

The EGM concluded with strong shareholder consensus, approving all proposals and key resolutions.

PR DEPARTMENT