In the journey of more than 30 years of construction and development, GELEX has affirmed its position of a stature enterprise with positive and sustainable growth indicators.

The important milestones

With the mission of becoming a pioneer in the segment of electrical equipment, in 1990, the Electrical Engineering Equipment Corporation (formerly known as Vietnam Electrical Equipment Joint Stock Corporation) was established. In 2006, the business changed, operating under the model of the parent-subsidiary company, expanding its segments activities in design and manufacture of electrical measuring equipment, real estate business, hotel services, tourism, offices for rent, etc.

In 2010, the Corporation equitized the enterprise and changed its name to Vietnam Electrical Equipment Joint Stock Corporation with a total charter capital of VND 1,400 billion. At that time, the Ministry of Industry and Trade was the state shareholder owning nearly 80% of the charter capital.

An important turning point took place in 2015 when the company changed its ownership structure, and entered the restructuring phase toward its goal of serving the development plan, focusing its strength on enterprises in the main business segments. The Group implemented a process to increase its ownership, contribute more capital to core business and potential electrical equipment segments, as well as implemented a process for in-depth investment, capacity improvement, and expansion of production and business scale of these companies.

2018 is an important milestone when GELEX Group officially became a listed company on HoSE with code GEX. At that time, the Group’s revenue reached VND 13,699 billion, and profit before tax reached VND 1,533 billion, focusing on 02 core segments: Industrial Production (mainly electrical equipment) and Infrastructure.

A vigorous changing

After nearly 5 years of comprehensive restructuring, GELEX Group has basically completed the capital restructuring process, becoming a multi-industry investment group that owns many reputable brands such as Viglacera, Song Da Water Plant, CADIVI power cables, EMIC electrical measuring equipment, THIBIDI transformers, HEM electric motors, etc. In 2021, the Group achieved a consolidated net revenue of VND 28,578 billion and a consolidated profit before tax reached VND 2,057 billion.

Regarding development orientation, in the next phase, GELEX focuses on the development of Industrial production and Infrastructure, thereby defining specific development strategies in each segment. For industrial production, the Group directs its units to promote investment in technology, develop new products as well as strengthen the technology application in management to enhance the efficiency of production and business activities, expand the market and market share and maintain its position as the leading unit in the electrical equipment segment. In the infrastructure segment, through its member units, GELEX focuses on investing in industrial park real estate and social housing, clean energy projects, water production and trading, building materials, etc. At the same time, GELEX continues to implement commercial real estate projects on schedule, optimizes the use of the system’s land bank in order to create a stable and sustainable income in the long term. In addition, GELEX continues to pursue the growth strategy of core business segments through appropriate M&A activities.

With constant efforts to pursue those strategic goals, GELEX has achieved the achievement of strong growth. It can be affirmed that 2021 marked an impressive transformation of GELEX when it successfully implemented M&A of Viglacera Corporation – JSC, completed the restructuring of two sub-holdings and exceeded targeted revenue and profit, built a solid foundation for the next stages of the Group’s development.

Over the years, GELEX and its member companies have successively received the National Brand Award: CADIVI with 8 times successively; Viglacera with 6 times successively; GELEX with 5 times successively and THIBIDI with 4 times successively. Besides, GELEX has also entered the prestigious TOP votes such as: Top 15 listed companies with good business performance for 3 successful years (2017 -2019); Top 50 most effective business companies in Vietnam 2020; Top 50 best-listed companies in Vietnam in 2021; Top 50 most profitable enterprises in Vietnam 2022, etc.

This achievement is a sustainable proof affirming the prestige and strength of GELEX Group and its member units on the journey of more than 32 years of establishment and development.

Always enhance a sense of the responsibility to society and the community

Throughout its development journey, GELEX has always lit up the fire of patriotism, solidarity, and mutual love for the community. Every year, GELEX spends tens of billions of dongs to contribute and share its support with the community. For example, GELEX donated VND 30 billion to the Vaccine Fund to prevent Covid-19, donated VND 6 billion to support the house construction for poor households in Tuyen Quang, presented savings books worth more than VND 1.4 billion for the gratitude of war invalids and martyrs’ families, supported the central provinces to overcome the consequences of floods; joined hands for Agent Orange victims, etc.

It can be said that, along with strong production and business activities, GELEX has left impressive marks in contribution to the community with the desire to contribute to creating a better and more sustainable life.

GELEX IS IN THE TOP 50 MOST EFFECTIVE BUSINESS COMPANIES IN VIETNAM IN 2022 This is an annual ranking of value and prestige by Nhip Cau Dau Tu Magazine in collaboration with Thien Viet Securities Joint Stock Company, with the consultation of leading economic and business experts from Harvard Business School toward its goal of searching and honoring companies that have effective business on Vietnam’s securities market. Gelex Group Joint Stock Company is in the top 50 most effective business companies in Vietnam For 3 successive years (2019-2021), GELEX Group achieved the following growth indicators: Revenue increased by 27.7%; Return on equity (ROE) increased by 10.7% and the rate of return for investors increased by 188.5%.  The above results have objectively assessed the governance capacity of GELEX Group in the context of difficult financial markets as well as the instability of the world economy.  TOP50 has experienced 10 years of successfully surveying and ranking companies (2010-2021). This is considered a special ranking that honors many businesses with larger scales, higher capitalization value, and a vigorous growth rate.

According to Infonet (specialist page of Vietnamnet.vn)