Trading surge in first stock on stock exchange

It has been a long time since investors have seen purple in REE shares of Refrigeration Electrical Engineering Corporation - one of the first two companies to list shares on the stock market.

It has been a long time since investors have seen purple in REE shares of Refrigeration Electrical Engineering Corporation - one of the first two companies to list shares on the stock market.

The trading session on February 19 recorded REE shares suddenly increasing to the maximum amplitude in the morning session and maintaining purple color throughout the remaining time and white on the selling side. Trading volume increased dramatically with more than 3 million shares traded.

In VN100, only REE and TCH hit the ceiling. REE became one of the stocks that pulled the index the strongest, along with GVR and CTG.

The phenomenon of REE hitting the ceiling has been a long time coming. The last time investors saw such a long green candle in this stock code was in mid-2022.

With an increase of 6.96%, REE's market price reached 72,200 VND/share, approaching the historical peak reached in mid-July last year.

REE hit the ceiling in the session on February 19, 2025.

REE's breakthrough took place in the context of this enterprise having high-level personnel changes before the General Meeting of Shareholders.

Recently, on February 12, REE received the resignation letter from Mr. Huynh Thanh Hai as a member of the Board of Directors. Mr. Hai will officially leave this position after the 2024 Annual General Meeting of Shareholders approves the decision. REE will accept applications and nominations for this vacant position until March 20, 2025.

Mr. Hai has held the position of General Director since 2020 when Ms. Nguyen Thi Mai Thanh withdrew from the position of CEO to separate the title from the Chairman of the Board of Directors. In June 2024, this position continued to be assigned to Mr. Le Nguyen Minh Quang and in January 2025, Ms. Mai Thanh left the position of Chairman of the Board of Directors to return to the role of General Director.

REE's annual general meeting of shareholders is expected to be held on April 1, 2025, in which the election of new members of the Board of Directors will be carried out at this meeting.

February 27 is the closing date for the right to attend the General Meeting of Shareholders and also the closing date for the right to receive the 2024 interim dividend. The company will pay an interim cash dividend at a rate of 10%, equivalent to 1,000 VND per share.

Regarding business performance, in the fourth quarter of 2024, REE reported consolidated profit after tax of VND 679 billion, up 35% over the same period, mainly due to the recovery of the refrigeration and electrical engineering segment in the context of a booming real estate market and accelerated infrastructure projects. Project contracts of this segment and REE's debt collection ability have improved.

In 2024, REE achieved VND 8,383 billion in net revenue and VND 2,396 billion in profit after tax, down 2% and 13% respectively compared to 2023.

Source: https://baodautu.vn/dot-bien-giao-dich-o-co-phieu-dau-tien-tren-san-chung-khoan-d247857.html