VN 
Saigon – Hanoi Securities JSC (SHS) | 1H2024 pre-tax profit increases nearly 4 times; 85% 2024 plan
Saigon – Hanoi Securities JSC (SHS) has just released its Q2/2024 financial report, showing operating revenue of 599 billion VND, a 94% increase compared to the same period last year. Operating expenses in Q2 increased by 27%, which was lower than the revenue growth, helping SHS record a pre-tax profit of 435 billion VND, up 150% from Q2 2023.
For the first half of the year, SHS reported 1,164 billion VND in operating revenue, an 18% increase over the same period in 2023, and a pre-tax profit of 879 billion VND, nearly four times that of the first half of last year. For 2024, the company aims for a pre-tax profit of 1,035.3 billion VND, a 51% increase over the previous year. Thus, in the first half of the year, SHS has achieved nearly 85% of its profit target.
SHS Proprietary Trading Shines in the First Half of 2024
The proprietary trading segment of SHS saw positive growth in the first half of 2024. Total profits from financial investments recorded through profit and loss (FVTPL) reached 726 billion VND, an increase of 18.3 times compared to the same period last year, with more than half being realized profits. SHS’s stock portfolio focuses on many high-quality, reputable companies on the exchange, including notable names like FRT, FPT, MWG, HPG, and VTP.
SHS CEO - Mr. Nguyễn Chí Thành also shared at the 2024 Annual General Meeting about SHS systematic and stringent proprietary investment process, with a top-down stock selection strategy, rigorous risk management, and clear strategies for disbursement and profit realization in all market scenarios.
In addition to a stock portfolio valued at over 3,500 billion VND, SHS also maintained a bond portfolio of 1,086 billion VND as of the end of Q2 2024. The bond portfolio has performed quite effectively recently, mainly consisting of bonds from large banks and major enterprises in the market.
SHS Rejoins the Brokerage Market Share Race
In addition to a positive performance in proprietary trading, SHS stock brokerage segment also saw strong growth of 47% in the first half of the year, with 135 billion VND in revenue. Profits from lending and receivables reached 262 billion VND, up 30.4% compared to the same period. Recently, SHS has been implementing a series of solutions to enhance competitiveness in brokerage, including system upgrades, the launch of new products like Margin TPlus, new brokerage policies, and plans to continue deploying synchronized solutions in the last six months of the year. SHS maintained its position among securities companies with over 10% market share in government bond brokerage in the first half of 2024. Recently, SHS was honored with the Outstanding Financial Brokerage Service award at the Vietnam Financial Advisory High-Level Forum 2024.
As of June 30, 2024, SHS's total assets amounted to VND 12,262 billion, an increase of VND 805 billion compared to the beginning of the year. Among these assets, financial assets at fair value through profit or loss (FVTPL) represented the largest proportion, with VND 5,042 billion, showing a slight increase over six months. Loans also represented a significant portion, totaling VND 3,622 billion, with margin loans accounting for VND 3,477 billion. Cash and cash equivalents increased by VND 785 billion compared to the start of the year, reaching VND 1,637 billion. Additionally, SHS holds an investment worth VND 1,000 billion, which is to be held until maturity.
SHS Major Capital Increase Plan with a 1:1 Ratio to Reach 17,126 Billion VND
In the long term, until 2030, SHS Chairman - Mr. Đỗ Quang Vinh, has shared the vision of transforming SHS into a Financial Investment Group with strengths in abundant financial capacity, a team of professional consultants, the application of world-class standards in products and services, governance systems, and a multi-sector ecosystem.
To enhance financial capability, establish a strong and effective growth foundation, the SHS Board of Directors has recently issued a decision to implement a stock issuance plan to increase charter capital according to the Resolution of the General Shareholders' Meeting. Specifically, SHS will issue shares to pay a 5% dividend for the year 2023, issue shares to increase capital from equity by 5%, and offer shares to existing shareholders at a 100% ratio at a price of 10,000 VND per share. After completing these issuance phases, SHS charter capital is expected to increase by more than 8,944 billion VND to over 17,000 billion VND, further strengthening its position among the largest charter capital companies in Vietnam.
The positive results achieved in the first 6 months of 2024, as well as the timely implementation plan for increasing capital, are clear evidence of SHS commitment to fulfilling its declared ambitions.
Các bài viết liên quan
- SHS 1H2024 Governance Reports
- Kết quả kinh doanh ấn tượng, SHS lọt Top 50 Công ty Đại chúng uy tín và hiệu quả
- Thông báo về việc cập nhật Căn cước công dân và Đăng ký các dịch vụ tại SHS
- Thông báo danh sách kênh thông tin & Nền tảng giao dịch chính thức của SHS
- Chứng khoán SHS cùng Hiệp hội Doanh nghiệp Nhỏ và Vừa Thành phố Hà Nội ký kết hợp tác chiến lược toàn diện
- SHS được vinh danh đơn vị có Dịch vụ Môi giới Tài chính tiêu biểu và ra mắt sản phẩm mới Margin TPLUS
