According to the auction results announced by HNX on October 24, 2025, the entire lot of 38,529,750 shares of Vietnam Electronics and Informatics Corporation (Viettronics, stock code: VEC), owned by SCIC, was successfully sold.
The entire lot, representing 87.97% of Viettronics’ charter capital, was put up for sale. This marks SCIC’s successful divestment after at least two previous auctions failed to attract any investor registrations. The auction drew four participants, including two domestic organizations and two individuals.
With a starting price of 964.34 billion VND for the entire lot, the bidding was fiercely competitive. Ultimately, Geleximco Group won the bid with an offer exceeding 2,562 billion VND. This price is 2.65 times higher than the starting price. Auction data also revealed the lowest bid recorded at 1,068 billion VND.
This price is particularly notable when considering Viettronics’ financial performance. According to the Consolidated Financial Report for Q2/2025, in the first six months of 2025, VEC recorded net revenue of 161.4 billion VND. While consolidated net profit after tax reached 951 million VND, the post-tax profit attributable to the parent company’s shareholders still recorded a loss of 2.85 billion VND. The inefficiency in business operations has persisted for several years.
Beyond its core business, one factor attracting investors to Viettronics is its managed asset portfolio. As of June 30, 2025, VEC reported 64.17 billion VND in remaining value of “Buildings and Structures” and 34.3 billion VND in remaining value of “Land Use Rights” in its Consolidated Financial Report for Q2/2025.
Specifically, Viettronics and its subsidiaries manage and hold land use rights to several prime locations, including the headquarters at 15 Tran Hung Dao (544.89 m²), a plot at 29F Hai Ba Trung (288 m²) in Hanoi, and 197 Nguyen Thi Minh Khai (425.52 m²) in Ho Chi Minh City.
Additionally, the financial statements note ongoing construction costs for other real estate projects. Notably, the project at Lot 14-E5, Cau Giay New Urban Area (4,300 m²), has an ongoing value of 4.89 billion VND, with VEC planning to collaborate with a member of Thang Long Investment Group (TIG). Another project, VTB Green Building in Ho Chi Minh City, has an ongoing value of 9.44 billion VND and is described as being in the process of resolving legal issues.
In terms of organizational structure, Viettronics (the parent company) holds stakes in six subsidiaries: Viettronics Thu Duc JSC (97.01%), Binh Hoa Electronics JSC (51%), Viettronics Tan Binh JSC (55.54%), Bien Hoa Electronics JSC (51%), Viettronics Construction JSC (70.97%), and Viettronics Industrial JSC (91.86%). It also oversees Viettronics College of Technology as an affiliated unit.
Originally established as the Electronics Research Department under the Ministry of Machinery and Metallurgy in 1970, Viettronics officially transitioned to a joint-stock company model in 2007, with its state-owned capital managed by SCIC.
Expanding from its electronics roots, Viettronics has diversified into sectors such as energy, building electromechanics, medical electronics, and education. Notably, the corporation has become a familiar contractor in the electricity sector, winning 42 bids since 2017 with a total value exceeding 1,578 billion VND, primarily as a consortium member in projects under Vietnam Electricity (EVN).
Explaining their substantial investment, Geleximco representatives stated that acquiring Viettronics aligns with their strategy to expand into high-tech sectors, particularly semiconductor chip research and production.
Geleximco emphasized that this investment aims not only to revive a long-standing electronics brand (Viettronics, established in 1970) but also to deepen the group’s involvement in high-tech industrial manufacturing. The deal is expected to open opportunities for comprehensive restructuring, enabling Viettronics to re-enter the technology race under new ownership.
On the stock market, news of the auction significantly impacted VEC’s share price. On October 27, 2025, following the auction results announcement, VEC’s stock price surged to its ceiling, closing at 26,600 VND per share, a 14.66% increase.
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