Efforts to overcome difficulties in 2023
Reporting on production and business activities in 2023, Gelex Electric's board of directors said that the economic context is facing many difficulties, the decline in world and domestic demand has affected production and business activities.
Facing that multi-dimensional challenge, Gelex Electric focuses on risk management, maintaining market share, streamlining operations and improving financial health. Thanks to synchronous and effective solutions, this business basically completed its set goals, creating a solid foundation for development.
In 2023, the company will reach 16.607 billion VND in consolidated net revenue, 967 billion VND in consolidated pre-tax profit, completing 85,5% and 104% of the approved plan, respectively. With the results achieved, the company approved the profit distribution plan for 2023 of 20% in cash (2.000 VND/share).
Notably, during the year, Gelex Electric invested deeply, improving production and business capacity at member companies such as: CCV line project at Vietnam Electric Cable Joint Stock Company (Cadivi); Investing in machinery and equipment to improve performance and quality at Electrical Equipment Joint Stock Company (Thibidi); Continue to implement projects to renovate and repair factories, improve production capacity at other member companies in the system; At the same time, deploy power distribution projects in industrial parks as planned...
Gelex Electric has also approved and implemented the restructuring of capital ownership in power generation businesses to focus on core industries and create resources to prepare for the next strategic goals.
Targeting revenue of more than 18.000 billion VND in 2024
Talking about 2024, Gelex Electric's leadership believes that there will be many bright spots but also many challenges. In particular, the global and regional economic context continues to be volatile, so creative thinking and the spirit of accepting change will determine the sustainable success of the business. On that basis, this year the company sets a target of consolidated net revenue of 18.381 billion VND, consolidated pre-tax profit of 1.158 billion VND, an increase of 10,7% and 19,7% respectively compared to 2023. .
To complete the set goals, Gelex Electric has provided specific directions and solutions to continue focusing on developing production and business, expanding markets, and investing in research for new products with high technology content. high technology; At the same time, strengthen control and operational risk management, promote digital transformation towards the goal of sustainable development.
Sharing at the congress, Mr. Nguyen Van Tuan - Chairman of the Board of Directors of Gelex Electric said: "This year, Gelex Electric continues to focus on restructuring businesses in the power generation segment. Along with that, the Company also promotes research and development of higher value products, green and environmentally friendly products. Focusing on investing in R&D works to build a solid foundation for businesses to develop further."
Other notable information, the congress also approved the continued registration of stock listing (transaction code: GEE) on the Ho Chi Minh City Stock Exchange (HoSE).
Sharing about this issue, Gelex Electric Chairman of the Board of Directors Nguyen Van Tuan said: "GEE currently has many good brands. After the restructuring process, the business has had stable and effective operations. Changing the exchange not only affirms the openness and transparency of information, but is also an opportunity to help businesses increase awareness to investors, especially foreign investors. This will be an opportunity to bring GEE shares to their correct value, affirm the company's reputation and create the greatest value for shareholders."
At the end of the congress, with high consensus and consensus, all reports, proposals and many other important contents were approved.
Dau Linh
