After Reporting Large Profits, a Member of the Gelex Ecosystem Wants to Exit the Market

Viwasupco (VCW) reported a net profit of nearly 34 billion VND in Q3 2025, marking a recovery after 7 consecutive quarters of losses. Revenue reached nearly 252 billion VND, up 76% year-on-year, driven by increased consumption and price adjustments. However, the company is considering delisting from being a public company due to the low percentage of shares held by non-major shareholders (1.59%), below the required 10%. Major shareholders currently hold 98% of the equity, with CTCP Infrastructure GELEX and REE Water Company holding the majority. Despite surpassing the annual profit target by three times, Viwasupco still faces a debt of 3,508 billion VND, with interest costs accounting for 20% of revenue. VCW shares currently have low liquidity on UPCoM, but the share price of Gelex has surged following the profit announcement.