Specifically, DNSE targets a total revenue of 1,390 billion VND for 2024 (including operating revenue, financial revenue, and other revenue) for the most optimistic scenario (scenario 3), corresponding to an 88% increase compared to the previous year. In the other two scenarios, DNSE expects to achieve a total revenue of 1,119 billion VND (scenario 1), an increase of 51%, and a less favorable outcome of 868 billion VND (scenario 2), representing a 17% increase.
In terms of profit targets, DNSE plans to achieve a maximum after-tax profit of 445 billion VND (scenario 3), nearly double the previous year. The minimum after-tax profit target is 170 billion VND, a decrease of 26% (scenario 2), and the remaining scenario (scenario 1) is 335 billion VND, an increase of 46%.
In 2024, technology will continue to be the focus of DNSE’s development. In particular, the company places a significant emphasis on derivative securities products. The company also aims to be one of the earliest securities companies to implement new products such as T+0 trading or low reserve ratio once the KRX system is implemented.
Additionally, DNSE aims to increase the total number of cumulative basic securities accounts to over 2 million accounts and strive for a top 10 market share in derivative securities in 2024.
As of the end of 2023, the total number of cumulative accounts managed by DNSE is nearly 562 thousand accounts. In 2023 alone, DNSE opened over 371 thousand new accounts, equivalent to nearly 1.5 thousand new accounts opened per day.
Source: DNSE’s 2023 annual report
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DNSE also acknowledges that market competition will become increasingly fierce, especially as securities companies tend to shift towards free trading models.
Looking back at the business results of 2023, DNSE achieved operating revenue of 714.5 billion VND, an increase of 58% compared to the previous year. The significant increase in operating revenue mainly comes from gains on financial assets measured at fair value through profit or loss (FVTPL), which increased by 743% compared to the previous year, and gains from held-to-maturity investments increasing by 83 billion VND, corresponding to a nearly 74% increase.
After deducting expenses, DNSE had a after-tax profit nearly three times higher than the previous year, reaching 229 billion VND.
In 2023, DNSE had a total asset size of 7,447 billion VND, an increase of 16% compared to the previous year. Of this, short-term assets accounted for 6,598 billion VND, an increase of 22%. In terms of capital sources, the company had a debt to be repaid of 4,141 billion VND, an increase of 27%.
