The Vietnam Stock Exchange: On Track for Success with 41% of Annual Tax Profit Target Met in Just One Quarter

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The majority of VNX’s revenue comes from investment activities in its subsidiaries, totaling almost VND 573 billion. HOSE and HNX, its two subsidiaries, contributed nearly VND 449 billion and VND 124 billion, respectively. Additionally, financial activities generated approximately VND 12 billion, while business operations brought in VND 630 million. After deducting expenses and tax liabilities, VNX’s net profit was nearly VND 575 billion.

Source: Vietnam Stock Exchange (VNX)

For 2024, VNX has set a target of nearly VND 2,797 billion in total revenue and over VND 1,423 billion in net profit. As of the first quarter, VNX has achieved 21% of its revenue target and 41% of its net profit goal.

In 2024, VNX aims to continue its close collaboration with specialized units of the State Securities Commission (SSC), and its subsidiaries to finalize and submit to the SSC for approval, the issuance of business regulations. The company will proactively review its business regulations to align with legal changes and the technical requirements of the KRX information technology system. Additionally, VNX will provide feedback and contribute to the development of decrees, circulars, and other legal documents by the regulatory authorities.

Regarding market operations, VNX will implement improvements to the VN30 index, as approved by the SSC, and launch the VN100 index futures contract.

Simultaneously, VNX will undertake tasks related to member management, market surveillance, investment, information technology applications, and international cooperation, in addition to internal governance-related activities.

The Vietnam Stock Exchange (VNX) commenced operations on August 6, 2021, adopting a parent-subsidiary model following the reorganization of the Ho Chi Minh City Stock Exchange and the Hanoi Stock Exchange. The Exchange is a parent company organized as a limited liability company with the State holding 100% of its charter capital.

VNX has a charter capital of VND 3,000 billion and holds 100% of the charter capital of HOSE and HNX.

On March 7, 2024, at the headquarters of the Ministry of Finance, Deputy Minister of Finance Nguyen Duc Chi chaired the conference to announce the decision to appoint Mr. Luong Hai Sinh as the Chairman of the Members’ Council of VNX. The decision took effect from March 1, 2024.

Huy Khai

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