300 million shares of GEE by GELEX Electric are about to change hands. Illustrative image.
The Hanoi Stock Exchange (HNX) has recently announced the cancellation of registration for trading on the UPCoM exchange for the GEE shares of GELEX Electric Joint Stock Company.
Accordingly, 300 million GEE shares will trade their last session on the UPCoM exchange on July 18 and will prepare to move to the HoSE exchange.
Earlier, on July 2, the Ho Chi Minh City Stock Exchange (HoSE) announced the acceptance of the listing of 300 million GEE shares on the HoSE exchange.
As far as is known, Gelex Electric was established in 2016 as a direct subsidiary of Gelex Corporation Joint Stock Company, specializing in trading and managing investments in the field of industrial production, mainly in the electricity industry. GEE shares were registered for trading on the UPCoM exchange of HNX from March 2022.
As of March 31, 2024, Gelex Corporation held 79.99% of the capital in GELEX Electric and recorded it as a subsidiary.
In terms of business activities, in the first quarter of 2024, GELEX Electric recorded consolidated net revenue of VND 3,720 billion, up 9%, and after-tax profit of VND 116 billion, up 27.7% over the same period in 2023.
Of this, revenue from the sale of finished products reached VND 3,484 billion, equivalent to a 16% increase over the same period. Currently, the electrical equipment segment accounts for 97.3% of total net revenue; in the field of power generation, the enterprise recorded a revenue of VND 100 billion in the first three months of the year, down 46% compared to the same period in 2023. The reason comes from the divestment of the wind power project investment in Gelex Quang Tri One Member Limited Liability Company.
In the market, in the trading session on July 15, GEE shares decreased by 0.5%, reaching a price of VND 39,500/share.
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