GELEX Successfully Organizes the 2025 Annual General Meeting of Shareholders

GELEX Successfully Organizes the 2025 Annual General Meeting of Shareholders

On March 27, 2025, GELEX Group Joint Stock Company successfully held its 2025 Annual General Meeting of Shareholders (AGM). The meeting took place as GELEX celebrated its 35th anniversary, marking a decade since becoming a public company and officially listing on the UPCOM exchange under the ticker symbol GEX. It also marked ten years of strong growth, solidifying GELEX’s position within the Vietnamese business community.

Strong Business Performance in 2024, 10% Dividend Payout

Amidst a thriving economy, GELEX Group’s subsidiaries have capitalized on opportunities and demonstrated agility in optimizing production and business operations, delivering impressive results that surpassed the targets set by the General Meeting of Shareholders. Notable contributors to this success include key subsidiaries such as CADIVI, EMIC, and the Real Estate division of Viglacera.

In 2024, GELEX achieved a consolidated net revenue of VND 33,752 billion and a pre-tax profit of VND 3,613 billion, surpassing AGM targets by 4.5% and 88.1%, respectively. These figures represent the highest revenue and profit levels in the company’s history.

As of December 31, 2024, GELEX’s total assets reached VND 53,803 billion. Key financial ratios, including liquidity, debt levels, and return on assets (ROA) and return on equity (ROE), showed significant improvement.

Given the strong performance, the AGM approved a 10% dividend payout for 2024, equivalent to VND 858 billion, comprising a 5% cash dividend and a 5% stock dividend.

2025 Strategy: Expanding R&D and Strengthening International Partnerships

At the AGM, GELEX’s leadership outlined the company’s 2025 strategy, aiming to maintain stable growth in core business activities, explore high-potential investment opportunities, and reinforce internal strengths. The company will also enhance risk management across its system and develop a comprehensive digital transformation strategy.

For 2025, GELEX targets a consolidated revenue of VND 37,600 billion, an 11.5% increase from 2024.  However, consolidated pre-tax profit is projected at VND 3,041 billion,  a 15% decrease from the previous year due to the absence of extraordinary income from divestments in renewable energy projects, which contributed nearly VND 1,000 billion in 2024. The planned dividend payout for 2025 remains at 10%. This business plan received high approval and consensus from shareholders.

GELEX Chairman Nguyen Trong Hien stated: “The Group is committed to expanding domestic market reach while boosting exports.  We will strengthen R&D activities to develop high-tech, eco-friendly products that align with market trends. Additionally, we will collaborate with international partners to diversify our product portfolio and expand export markets.”

In the industrial park and real estate sector, GELEX subsidiaries are developing land banks in multiple provinces while exploring innovative models such as smart industrial parks and integrated industrial-urban eco-cities. These efforts aim for sustainable development and position GELEX to attract high-quality foreign direct investment (FDI). The company is also focusing on social housing projects and expanding land reserves for commercial real estate ventures. Investments in ready-built factories (RBF), ready-built warehouses (RBW), and build-to-suit (BTS) facilities are being pursued through a joint venture with Titan Corporation.

In the energy sector, GELEX continues to selectively invest in potential renewable energy projects. For water supply operations, GELEX prioritizes safe and reliable plant management, cost optimization, and risk minimization. The company remains committed to timely completion of Phase 2 of the Song Da Water Supply Project and is exploring new clean water projects in industrial parks and other localities.

GELEX currently holds 186.9 million shares in Eximbank, equivalent to a 10% stake, making it the bank’s largest shareholder.  The company views this as a strategic investment with long-term profitability potential.

GELEX’s leadership emphasized that alongside business expansion and increasing corporate value, the company remains dedicated to sustainable development, corporate governance excellence, strict legal compliance, and environmental responsibility.  Additionally, GELEX is committed to social contributions, striving to build a prosperous community.

During the AGM, shareholders elected a new Board of Directors (BOD) member to replace Nguyen Van Tuan, who had resigned to focus on executive responsibilities. Nguyen Thi Minh Giang was elected as a BOD member for the 2021-2026 term.

With strong shareholder support, the AGM successfully approved all reports, proposals, and key resolutions.

PR DEPARTMENT