Legendary Vietnamese Consumer Brand Faces Challenges from Chinese Goods Flood but Still Declares 50% Cash Dividend, with Help from a ‘Familiar Face’

Rang Dong Electric Light Bulb and Water Heater Joint Stock Company (RAL) announced a plan to pay a 50% dividend for 2024 while already disbursing two cash advances. The company is struggling with fierce competition from Chinese products, leading to a 46% drop in revenue and a 48% decrease in profit compared to the previous year. Amid these challenges, Gia Loc Phat Joint Stock Company, a major client of RAL, has provided financing assistance and support for sales. RAL’s Board of Directors seeks shareholder approval for a transaction with Gia Loc Phat exceeding 35% of total assets. Founded in 1961, RAL, with over 60 years of history, is known for its light bulbs and water heaters. The company is also working on a project for high-tech electronic products integrating smart LED lighting systems.