On April 24, The Gioi So Corporation (Digiworld, code DGW) announced a resolution to increase its stake in B2X Vietnam Group Corporation from 49.1% to 100%, through the acceptance of a share transfer from B2X Care Solutions GmbH. The transfer value will not exceed 30 billion VND.
B2X Vietnam Group Corporation is a joint venture company established by Digiworld and B2X in December 2017, with initial charter capital of 6 billion VND.
As of the end of January 2024, B2X Vietnam is an associate company of Digiworld with a 49.1% ownership ratio. Meanwhile, B2X Care Solutions GmbH, a world-renowned customer care provider based in Munich (Germany), specializing in smartphones and Internet of Things (IoT) devices, currently owns over 50% of shares in B2X Vietnam.
Chairman of Digiworld’s Board of Directors Doan Hong Viet
At the 2024 Annual General Meeting of Shareholders, Digiworld’s leadership stated that, with this M&A deal with B2X, Digiworld will consolidate the capacity of its existing international standard After-Sales service (Digiworld has a chain of DCare warranty centers), as After-Sales is one of the 5 core MES services to enhance quality, increase customer service, and increase touchpoints with end consumers. B2X and Digiworld’s DCare warranty center system have been providing professional warranty services to partners since 2017. Services include: technical solutions for electronic devices, electronics, refrigeration, home appliances… including genuine installation, repair, maintenance, and care; providing an in-home service platform for household appliances.
Currently, B2X has 18 professional warranty centers nationwide with major partners such as: Samsung, Xiaomi, Acer, retail chains such as Dien May Xanh, FPT shop, and many other major brands.
At the 2024 Annual General Meeting of Shareholders on April 25, the DGW leadership set ambitious business targets for 2024, with net revenue and net profit reaching 23 trillion VND and 490 billion VND respectively, an increase of 22% and 38% compared to the actual figures for 2023.
In terms of revenue structure, the focus will remain on the mobile phone segment, which is expected to generate 8,700 billion VND (an increase of 8%), and the laptop and tablet segment, which is expected to generate 6,550 billion VND (an increase of 11%). Other activities, including office equipment, home appliances, and consumer goods, are expected to increase by 60%, 44%, and 78%, respectively.
In terms of business performance, in the first quarter of 2024, Digiworld achieved net revenue of 4,985 billion VND, an increase of 26% compared to the same period last year. Net profit in the first quarter of 2024 was over 93 billion VND, an increase of 16%, and achieved 19% of the annual plan.
