Geleximco's profit decreased more than 20 times

In the first half of this year, Geleximco Group only made a profit of nearly 16 billion VND, down more than 20 times compared to the same period in 2022.

This information has just been announced by Mr. Vu Van Tien's Group in a report sent to the Hanoi Stock Exchange (HNX).

In the first half of this year, Geleximco Group's after-tax profit was VND15.8 billion, while in the same period last year it was more than VND337 billion. Thus, Geleximco's profit this period decreased more than 21 times compared to the same period in 2022.

As of June 30, the group's equity was about VND12,800 billion, a slight decrease compared to the previous period. Geleximco's liabilities also decreased slightly compared to the same period last year, with about VND28,180 billion. Of which, the company owed more than VND4,600 billion in bonds, a decrease of more than VND440 billion compared to June 2022.

From May 11 to June 5, according to HNX, Geleximco bought back 259 billion VND in advance 6 times with a bond lot issued at the end of 2021. Currently, the company has 4 bond lots circulating on the market.

Formerly known as Hanoi General Import-Export Company Limited, Geleximco was established in 1993 with a charter capital of only 3 billion VND. To date, Geleximco has become a multi-industry corporation, creating jobs for more than 10,000 workers. The company is operating in 4 main areas including industrial production, banking and finance, real estate, trade and services.

In the real estate sector, Geleximco has developed many large projects such as the urban area of the city of exchange on Pham Van Dong Street, Gelexia Riverside urban area, Le Trong Tan urban area (Hanoi), Cai Dam urban area (Quang Ninh), and Doi Rong international tourist area in Do Son (Hai Phong).

Geleximco is also a founding shareholder and co-owner of An Binh Commercial Joint Stock Bank, An Binh Securities Joint Stock Company, and An Binh Securities Investment Fund Management Joint Stock Company.

Last year, Geleximco signed an agreement to lease 50 hectares of land in Tien Hai Industrial Park, Thai Binh to build an automobile manufacturing and assembly plant. Mr. Vu Van Tien's group plans to invest 800 million USD (nearly 19,000 billion VND) in this factory. Of which, phase I is expected to be operational from the third quarter of 2024, with a capacity of 50,000 vehicles per year.

Anh Tu

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