In the first quarter of 2025, GELEX Corporation (GEX) reported a consolidated revenue of 7.916 trillion VND, up 18.9% year-on-year. The electric equipment sector contributed 5.108 trillion VND, growing by 41.7%. Gross profit rose by 33.2% to 1.598 trillion VND. Pre-tax profit reached 646 billion VND, a 67.8% increase year-on-year, meeting over 21% of the 2025 plan. Total assets stood at 56.518 trillion VND, with debts rising by 17.8% mainly from bank loans. GELEX Electric, a subsidiary, achieved a revenue of 5.281 trillion VND and a pre-tax profit of 608 billion VND, four times the same period last year. The corporation continues to strengthen its production activities, focusing on the electric equipment segment. To address U.S. tax policy, GELEX concentrates on the domestic market and enhances high-tech products. In real estate and construction materials, GELEX will restructure for more effective investments.
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