[REVISION HISTORY]

GELEX Group corporate expansion and financial performance

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2026-10-27 11:42 UTC → 2026-10-29 03:53 UTC · added ~~removed~~

GELEX Electric (GEE) has proposed a rebranding to GELEX Industries Joint Stock Company to reflect a strategic shift from electrical equipment toward a broader industrial ecosystem. This expansion includes new business lines in technology, research and development, industrial materials, and digital infrastructure, such as IT consulting and data processing. Concurrently, GELEX Group (GEX) reported strong financial growth for the first nine months of 2026. The group exceeded its full-year pre-tax profit target by 8.8%, driven by significant revenue increases. Subsidiaries such as GELEX Electric and GELEX Infrastructure also reported growth, supported by infrastructure projects, industrial real estate, and rising manufacturing demand in Vietnam. Detailed financial reporting for the first nine months of 2026 shows consolidated net revenue reached 39,158 billion VND, a 40.5% increase year-over-year, while pre-tax profit rose 14.2% to 3,931 billion VND. GELEX Electric saw core profit rise by 32% due to demand for grid upgrades and industrial projects. GELEX Infrastructure exceeded its annual pre-tax profit target by 52%, aided by the industrial real estate sector and a rise in realized FDI capital, which reached 21.07 billion USD during the period. Consequently, VIS Rating maintained GELEX’s long-term issuer credit rating at ‘A’ with a ‘Positive’ outlook, citing expected profit growth and improved cash flow.

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