According to the plan, in 2024, HSC aims for revenue of VND 3,182 billion, pre-tax profit of VND 1,450 billion, respectively increasing by 41% and 72% compared to 2023. The business segments mainly contributing to the company’s revenue in 2024 are margin lending (accounting for more than 48%), stock brokerage (accounting for 26%), proprietary trading (accounting for 17%) and corporate finance advisory (accounting for 8% of total revenue). Specifically:
Stock brokerage business: Based on two main assumptions: the average daily transaction value reaching approximately VND 20,000 billion and the trading proportion of domestic investors accounting for 90%, HSC sets the target of brokerage fee revenue in 2024 to reach VND 824 billion, increasing by 23% compared to 2023.
Margin lending business: HSC predicts that the demand for margin lending will continue to increase along with the increase in market liquidity. The implementation of the new margin lending management model from the beginning of 2024 is expected to best support customers’ trading needs and to increase the flexibility in HSC’s lending management. In addition, HSC will continue to adhere to the implementation of risk management policies in a cautious manner to ensure risks are tightly controlled.
Corporate financial advisory business: HSC estimates that revenue in 2024 will reach VND 248 billion. HSC said that the company has prepared both personnel and a portfolio of advisory deals to take advantage of the opportunities from the stability of the market in 2024, thereby bringing in potential revenue in 2024.
Proprietary trading and capital sourcing business: HSC still focuses on market making activities, hedging risks and supporting transactions for customers. In 2024, with the increased capital used for lending and proprietary trading activities, HSC expects to generate revenue of approximately VND 556 billion.
Mr. Trinh Hoai Giang – General Director of HSC presents the Business Performance Report in 2023 and Business Plan for 2024
HSC believes that the stock market in 2024 will improve thanks to the supportive factors of the macro environment, along with the expectation that the new trading system will be deployed soon in 2024. In addition, the positive solutions are continuously to be implemented by the SSC to meet the requirements of upgrading the market, thereby attracting foreign capital flows in the coming years.
By the end of the first quarter of 2024, HSC’s revenue reached VND 722 billion, pre-tax profit reached VND 346 billion, respectively completing 23% and 24% of the yearly plan.
Regarding the financial situation, the total assets at the end of 2024 are expected to reach VND 25,000 billion, an increase of 41% compared to the end of 2023. The company plans to use the new capital to increase the scale of margin lending activities and proprietary trading activities, mainly market making activities and provisioning for market recovery.
At the General Meeting, the shareholders approved the plan to change the form of payment of the second dividend for 2022 from issuance of stocks to cash, the total amount of dividend payment is over VND 462 billion, equivalent to 54% of profit after tax.
Regarding the dividend payment plan for 2023, HSC plans to pay dividends in cash with a payout ratio of approximately 55% from the undistributed profit after tax in 2023, equivalent to a total dividend payment of approximately VND 368 billion, the specific time will be decided by the Management Board.
At the same time, the General Meeting also approved the dividend plan for 2024 with a projected ratio of not exceeding 80% of profit after tax, equivalent to approximately 7% of par value (VND 700 per share).
The Annual General Meeting of Shareholders for fiscal year 2023 of HSC ended successfully with the approval of all the Proposals.
