HCMC – GELEX Electric JSC (HOSE: GEE) has reported a fourfold surge in first-quarter pre-tax profit compared to the same period last year, driven by the strong performance of its core business segments.
According to its Q1 financial report, the company posted pre-tax profit of VND608 billion, up 311% year-on-year. This marks the highest quarterly core profit in the firm’s history.
The company attributed the sharp rise in earnings to solid revenue from its flagship product, CADIVI-branded electric cables, and stable growth from other units producing transformers, copper wire, and measuring equipment.
Digital transformation initiatives, streamlined operations, and a flexible sales strategy aimed at boosting efficiency and profitability, along with efforts to improve product quality in the high-end segment, also helped boost the company’s performance
The firm’s consolidated net revenue reached VND5.28 trillion in Q1, up 42% from a year earlier. Gross profit from sales and services provisions rocketed 117% to VND832 billion, with gross margin improving to 15.8% from 10.3% in Q1/2024, thanks to strong sales of finished goods and merchandise.
The company has now achieved 23.7% of its 2025 revenue target and 36% of its profit goal for the year after the first quarter.
Closing the trading session today, April 18, GEE surged 4.58% to VND89,000, with a trading volume of nearly 1.4 million shares.
Vietnam’s benchmark VN-Index inched up by 1.87 points, or 0.15%, to close at 1,219.12 points as market liquidity surged despite a mixed performance across sectors.
The Hochiminh Stock Exchange (HOSE) saw 321 advancers and 136 decliners. Total trading volume rose 32.1% versus the previous session to over 1.07 billion shares, with a transaction value nearly unchanged at VND21.57 trillion. Block deals accounted for 27.8 million shares worth VND692.5 billion.
In the VN30 basket, which groups the 30 largest-cap stocks, 20 bluechips gained and six others lost.
SHB stood out as the sole stock hitting its ceiling price, ending at VND12,850. It took the lead by liquidity with a record-high matching volume of over 156.3 million shares, along with strong foreign buying of nearly six million shares.
Conversely, VIC plummeted to its floor price of VND66,100 on a sell-off, with a matching volume of 10.57 million shares. Its real estate peer VHM also lost 3.2% to VND55,000, with 13.5 million shares traded.
Real estate stocks remained among the day’s top laggards. While some gained in afternoon trading, most reversed course near the close. Notably, TCH and VRE returned to their reference prices, and VCG dropped 2.2%.
Banking and securities stocks also struggled to maintain momentum. Major lenders like VCB and TCB closed flat, while several others narrowed their gains. In the brokerage group, VCI and BSI lost over 1%.
The steel sector also faced headwinds. HPG slipped 0.2% at the close, although it remained one of the five most actively traded stocks with nearly 21 million shares changing hands.
On the Hanoi Stock Exchange, the HNX-Index added 3.52 points, or 1.68%, to 213.1 points. The bourse recorded 131 gainers and 48 losers, with total trading volume exceeding 92 million shares valued at nearly VND1.48 trillion.
