On April 25, 2024, Ho Chi Minh City Securities Corporation (HSC, HOSE: HCM) successfully held the Annual Genneral Meeting of Shareholders FY2023 (AGM FY2023) in the online platform. The meeting addressed various issues related to the Company's operations and set the direction for FY2024 plan.

AGM_BCTAccordingly, in FY2024, HSC aims to achieve a revenue of VND3,182 billion and a pre-tax profit of VND1,450 billion, representing increases of 41% and 72% respectively compared to FY2023. The main contributors for the Company’s revenue in 2024 are margin lending (accounting for over 48%), securities brokerage (accounting for 26%), proprietary trading (accounting for 17%), and corporate finance (8% of total revenue). Specifically:

  • Securities brokerage activities: Based on the assumption that the average daily transaction value reaches around VND20,000 billion and domestic investors account for 90% of the trading volume, HSC sets a target brokerage fee revenue of VND824 billion for 2024, a 23% increase compared to 2023.

  • Margin lending activities: HSC predicts that the demand for margin lending will continue to grow alongside the market liquidity. The implementation of a new margin lending management model since the beginning of 2024 is expected to best support customer trading needs and enhance flexibility in HSC's lending management. Additionally, HSC will continue to adhere to risk management policies with a cautious approach to ensure tight risk management.

  • Corporate finance activities: HSC expects revenue of VND248 billion in 2024. The Company has prepared both in terms of personnel and portfolio of advisory deals to capitalize on market stability in 2024, thereby generating substantial revenue for the year.

  • Proprietary investments and Treasury management: HSC remains focused on market making activities, risk hedging and supporting clients’ transactions. In 2024, with the increased capital allocated to lending and proprietary investment activities, HSC anticipates to generate a revenue of VND556 billion.

CEOCEO Trinh Hoai Giang, presented the Company's 2023 Performance Report and 2024 Business Plan

HSC assesses that the stock market in 2024 will improve due to supportive macroeconomic factors and the expectation that the new trading system will be implemented early in 2024. Furthermore, positive solutions continue to be implemented by the SSC to meet the requirements for market upgrades, thereby attracting foreign capital inflows in the coming years.
At the end of Q1.2024, HSC's revenue reached VND722 billion, and pre-tax profit reached VND346 billion, achieving 23% and 24% of the annual plan, respectively.
Regarding the financial situation, the total assets at the end of 2024 are expected to reach VND25 trillion, a 41% increase compared to the end of 2023. The Company plans to use new capital to expand margin lending and proprietary trading activities, primarily focusing on market-making activities and reserves for market recovery.
At the Shareholders' Meeting, shareholders approved the plan to change the form of dividend payment for the second installment of 2022 from stock issuance to cash, with a total dividend payment of over VND462 billion, equivalent to 54% of after-tax profits.
Regarding the dividend payment plan for 2023, HSC plans to pay dividends in cash at a rate of about 55% from undistributed after-tax profits in 2023, equivalent to a total dividend payment of about VND368 billion, with the specific timing to be decided by the BOD.
At the same time, the AGM FY2023 also approved the dividend plan for 2024 with an expected rate not exceeding 80% of after-tax profits, equivalent to about 7% of face value (VND700/share).

BLĐThe AGM FY2023 of HSC concluded successfully with the approval of all agenda items.