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GELEX Electric (HoSE: GEE) reported Q1 2026 results, extending its recent growth momentum. Consolidated net revenue reached 7,097 billion VND, up 34.4% year-on-year. Pre-tax profit rose to 755 billion VND, up 24.3% year-on-year compared with Q1 2025.
The company said its profit margin was maintained despite capital costs trending higher, reflecting cost control and operational optimization.
GELEX Electric attributed the growth to expanding its market presence and leveraging its electrical equipment product ecosystem. Core brands including CADIVI, EMIC, and THIBIDI continue to support the company’s revenue and profit mix.
For 2026, GELEX Electric set consolidated net revenue targets of 27,242 billion VND and pre-tax profit of 2,705 billion VND. After the first quarter, the company reported completing about 26% of its revenue plan and 28% of its annual profit target.
At the company’s recently held annual general meeting, leadership noted that growth potential from traditional product lines is narrowing. It said digital technology—particularly AI—is reshaping industries more deeply, shifting the challenge from short-cycle growth to building durable momentum over the next 5–10 years.
To address this, GELEX Electric identified enhancing product quality as a core priority. The company plans to invest in R&D, technology, and production lines to meet international standards and certifications, responding to rising requirements for safety, durability, performance, and environmental factors.
In parallel, GELEX Electric is preparing a portfolio of electrical equipment and infrastructure solutions for market demand during 2026–2030. New product lines mentioned include smart monitoring products, residential electricity solutions, protective switching devices, products for smart grids, infrastructure for smart charging stations, and products for data-center infrastructure.
On May 6, GELEX Electric plans to finalize the issuance of more than 274 million shares from treasury capital (bonus shares) at a rate of 75%. Under the terms, for every 4 shares held, investors will receive 3 new shares.
After the issuance, the company’s charter capital is expected to increase from about 3,660 billion VND to around 6,405 billion VND.
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