Enterprise of 8X giant Nguyen Van Tuan plays big and brings more than 400 billion dong to investors

In the newly published document, the enterprise led by 8X Ha Nam Nguyen Van Tuan as General Director decided to bring more than 400 billion VND to share with investors.

On May 9, Gelex Group Joint Stock Company (GEX), led by Ha Nam 8X giant Nguyen Van Tuan as General Director, announced the amendment and supplement of documents to serve the 2022 annual general meeting of shareholders. will be held on 12/5 here.

Specifically, in the old document, Gelex proposed not to pay dividends in 2021. However, according to the newly published revised document, Gelex is expected to spend nearly VND 426 billion, equivalent to 5% of charter capital to pay dividends. cash dividend in 2021. Accordingly, each investor holding one GEX share will receive 500 VND.

After 426 billion dong to pay dividends and 5 billion dong to bonus and welfare fund, Gelex has more than 78 billion dong of retained earnings on its separate financial statements.

Gelex, led by Mr. Nguyen Van Tuan as General Director, decided to bring 426 billion VND to share to shareholders through paying cash dividends.

Explaining this change, GEX management said that the reason for adjusting the dividend policy is to balance profits distributed to shareholders and retained earnings for production and business activities and recycling. invest in the core business areas of the group.

With the direct ownership of more than 192 million GEX shares, if the cash dividend plan is approved by shareholders, General Director Nguyen Van Tuan will receive an amount of more than 96 billion VND for the current number of shares. holding.

On the same day, May 9, Gelex also approved the plan to buy back all 300 bonds before maturity, worth 300 billion VND. This is a lot of bonds issued on May 19, 2021 with a fixed interest rate of 8.5% per annum, the maturity date is May 19, 2024. The redemption period is on May 19, 2022.

Regarding business results, GEX’s consolidated financial statements for the first quarter of 2022 recorded revenue of VND 8,682 billion. After deducting expenses, the enterprise recorded a pre-tax profit of VND 901 billion, up 95% and nearly 170% respectively over the same period.

According to the document of the general meeting of shareholders scheduled to be held on May 12, 2022, GEX sets a business target with an expected revenue of VND 36,000 billion, profit before tax of VND 2,618 billion, up 26% and 27% compared to the previous year. with 2021 execution. With this business result, GEX completed 24% of revenue expenditure and 34% of profit target in the first quarter.

Although GEX has just had an impressive first quarter of business, in the stock market, this stock has continuously dropped sharply in recent times. Accordingly, since peaking at the price of 49,350 VND/share on January 11, GEX has plummeted to only 24,700 VND/share (end of trading session on May 9), equivalent to a decrease of nearly 50 %.

With this decrease, only 8X Ha Nam’s assets at GEX have been blown away to nearly VND 4,740 billion. At market prices, Mr. Nguyen Van Tuan’s assets at GEX ended May 9’s trading session with a value of VND 4,749 billion.