Threefold Increase Since the Beginning of the Year: Another Rare Vietnamese Industrial Company Reaches $1 Billion Market Capitalization

Gelex Power Joint Stock Company (GEE) reported Q1 2025 revenue of 5.321 trillion VND, a 42% increase year-on-year, and a net profit of 487 billion VND, more than tripling from the previous year. GEE’s stock surged to 85,100 VND/share, nearly three times its value at the start of the year, pushing its market capitalization to over 25.95 trillion VND, making it one of the few Vietnamese companies to achieve a $1 billion valuation in the industrial sector. Established in 2016, GELEX Electric produces electrical equipment under brands like CADIVI and THIBIDI. The company plans to issue 61 million new shares, increasing its charter capital from 3.05 trillion VND to 3.66 trillion VND. The dividends for 2024 will be 30% in cash and 20% in bonus shares, with total returns for GEE shareholders potentially reaching 50%.