SHS’s operating expenses in Q2 increased by 27%, a smaller increase compared to the revenue growth, leading to a reported profit before tax of VND 435 billion, a 150% surge compared to the same period in 2023.
For the first half of the year, SHS recorded operating revenue of VND 1,164 billion, an 18% increase compared to the same period last year, with a profit before tax of VND 879 billion, nearly four times higher than the first six months of last year.
In 2024, the company set a target for profit before tax to reach VND 1,035.3 billion, a 51% increase compared to the previous year. Thus, after the first half, SHS has achieved nearly 85% of its profit target.
SHS’S PROPRIETARY TRADING REMAINS A BRIGHT SPOT IN THE FIRST HALF OF 2024
SHS’s proprietary trading segment recorded positive growth in the first half of 2024. Total profit from financial investments recognized through profit and loss (FVTPL) amounted to VND 726 billion, an 18.3-fold increase compared to the previous year, with more than half being realized profits. SHS’s stock portfolio focuses on many quality and reputable companies on the exchange, notably including FRT, FPT, MWG, HPG, and VTP.
Mr. Nguyen Chi Thanh, CEO of SHS, shared at the 2024 Annual General Meeting about the company’s rigorous and well-structured proprietary trading process, with a top-down stock selection strategy, robust risk management, and clear profit realization and disbursement strategies for various market scenarios.
In addition to a stock portfolio worth over VND 3,500 billion, SHS also maintains a bond portfolio of VND 1,086 billion as of Q2 2024. The bond portfolio has been performing efficiently, mainly consisting of bonds from large banks and enterprises in the market.
SHS RE-ENTERS THE BROKERAGE MARKET RACE
Besides the strong performance in proprietary trading, SHS’s stock brokerage segment also recorded robust growth of 47% in the first half, with revenue of VND 135 billion. Profit from lending and receivables reached VND 262 billion, a 30.4% increase compared to the same period last year.
Recently, SHS has continuously implemented a series of solutions to enhance the competitiveness of its brokerage business, including system upgrades, the launch of new products such as Margin TPlus, new brokerage policies, and plans to deploy more synchronized solutions in the next six months.
SHS maintained its position among the securities companies with a market share of over 10% in government bond brokerage in the first half of 2024. Recently, SHS was honored as a Typical Financial Brokerage Service at the Vietnam Financial Advisors Forum in 2024.
As of June 30, 2024, SHS’s total assets reached VND 12,262 billion, an increase of VND 805 billion compared to the beginning of the year. Financial assets classified as FVTPL accounted for the largest proportion, amounting to VND 5,042 billion, a slight increase over the past six months.
Loans also accounted for a large proportion, with VND 3,622 billion, including VND 3,477 billion in margin loans. Cash and cash equivalents increased by VND 785 billion compared to the beginning of the year, reaching VND 1,637 billion. Additionally, SHS holds an investment intended to be held to maturity worth VND 1,000 billion.
SHS’S LARGE CAPITAL INCREASE PLAN WITH A 1:1 RATIO TO REACH VND 17,126 BILLION
In the long term, from now until 2030, Mr. Do Quang Vinh, Chairman of the Board of Directors, has shared the orientation to develop SHS into a Financial Investment Group with strong financial capacity, a team of professional consulting experts, the application of world-leading standards in products, services, and governance, along with a diverse ecosystem.
To further enhance its financial capacity and lay the foundation for comprehensive and robust growth, SHS’s Board of Directors recently issued a decision to implement a plan to issue shares to increase charter capital according to the resolution of the General Meeting of Shareholders.
Accordingly, SHS will issue shares to pay 2023 dividends at a rate of 5%, issue shares to increase capital from owner’s equity at a rate of 5%, and offer shares to existing shareholders at a ratio of 100% at a price of VND 10,000/share.
After completing these issuances, SHS’s charter capital is expected to increase by more than VND 8,944 billion to over VND 17,000 billion, continuing to strengthen its position among the largest securities companies in Vietnam in terms of charter capital.
The positive results achieved in the first half of 2024 and the plan to implement the capital increase on schedule are clear testaments to SHS’s determination to realize its stated ambitions.
