Joint Stock Securities Company SmartMind (SMDS) on September 9, 2024, announced that it had received the resignation of Mr. Nguyen Nam Hung from the position of Chairman of the Board due to personal reasons.
In his letter, Mr. Hung proposed that the SMDS Annual General Meeting approve his resignation at the meeting to be held on September 19, 2024.
On the same day, September 9, Mr. Nghiem Tuan Duong also submitted his resignation from the position of Member of the Supervisory Board for personal reasons.
According to sources, Mr. Nguyen Nam Hung (born in 1981) holds a Bachelor of Laws degree from the University of Law. Mr. Hung previously served as Chairman of the company from early 2022 to July 2022. He was then appointed as Executive Director of SMDS in June 2023. Subsequently, in July 2023, Mr. Hung was appointed as a member of the Board of Directors and officially became the Chairman of the Board of SmartMind in August 2023. Mr. Hung is also said to have held senior positions at several securities companies such as TCBS, VPS, and Law YKVN.
In the latest update, SmartMind Securities has announced additional documents for the 2024 Annual General Meeting, including the approval of the resignation of the two aforementioned individuals from their positions on the Board of Directors and the Supervisory Board. The company also informed shareholders about the nomination and election of members to the Board of Directors and the Supervisory Board at the meeting.
SmartMind Securities, formerly known as KS Securities, is a company related to Sunshine Group. As of the end of the second quarter of 2024, the parent company of this securities company was Sunshine Group, holding 50.99% of SmartMind’s capital. Another major shareholder is Tran Thi Thu Hang, holding 43.51%. Ms. Tran Thi Thu Hang is the former Chairman of Kienlongbank (resigned in July 2024).
In terms of business performance, SmartMind Securities plans to seek shareholder approval for its 2024 business plan, targeting a total revenue of VND 167 billion and a net profit of over VND 90 billion, representing a 23% and 27% decrease, respectively, compared to the previous year. The company also plans not to pay dividends for 2023 and not to allocate funds for rewards and welfare.
2024 Business Plan to be presented to shareholders for approval
For the first half of the year, operating revenue decreased by 28% year-on-year to VND 86 billion. As a result, net profit decreased by 27% to VND 51 billion, equivalent to 59% of the full-year plan.
