The First Securities Firm to Reveal Q3 Business Results: Estimated 73% Profit Increase, Prepares for HoSE Transfer

According to the report at the “Investor Conference – Q3/2024 Business Results Update”, DSC Securities Joint Stock Company estimated a revenue of VND 388 billion and a pre-tax profit of VND 184 billion in the first nine months of the year, up 22% and 55%, respectively, from the same period in 2023. With these results, DSC has achieved 92% of its full-year target.

In Q3 alone, DSC is estimated to have recorded VND 141 billion in revenue and VND 85 billion in pre-tax profit, up 15% and 73%, respectively, year-over-year.

Explaining these impressive results, Mr. Tran Minh Toan, CFO of DSC Securities Joint Stock Company, attributed them to the successful restructuring and comprehensive reform: “The strategy for managing and optimizing human resources and capital has had a direct positive impact on our business results in the first nine months of 2024 and especially in Q3. DSC’s CIR ratio decreased by 13%, from 66% in 2023 to 53% in 2024, thereby improving our revenue and profit for 2024”.

Notably, despite its recent foray into proprietary trading, DSC has seen explosive growth in Q3/2024. The company’s proprietary trading activities generated an estimated pre-tax profit of VND 48 billion, accounting for 56% of Q3/2024’s profit structure and a remarkable 847% increase year-over-year.

Year-to-date, proprietary trading has contributed VND 51 billion in profit, surpassing the 2024 plan by 533%. DSC has been focusing on holding stocks that are currently surging, such as CTG, ACB, MBB, and HCM.

In terms of securities brokerage services, DSC recorded a pre-tax profit of VND 34 billion, bringing the nine-month pre-tax profit to VND 104 billion (64% of the annual plan). As for capital exploitation activities, by the end of Q3/2024, DSC’s total lending value was estimated at VND 1,720 billion, up 31% year-over-year.

Providing further insights into the company’s plans for the remainder of 2024 and its medium-term goals, Mr. Toan emphasized: “We will focus our resources on upgrading our IT infrastructure, information security, utilities, and trading applications. In addition, our current products and services will continue to be optimized for performance and comprehensively upgraded. In terms of human resources, DSC has been implementing a plan to enhance the professional qualifications and expertise of all our securities specialists and officers to better serve institutional and corporate clients and optimize short-, medium-, and long-term investment efficiency for these client groups.”

Also, in Q3/2024, DSC’s plan to transfer its listing from UPCoM to HoSE is nearing completion. Specifically, on September 24, the Ho Chi Minh Stock Exchange (HoSE) issued an approval for the listing of more than 204 million DSC shares.

This milestone underscores DSC’s commitment to enhancing its position and credibility while unlocking potential opportunities for more effective investment and development in the future. The official listing of DSC’s 204 million shares on the HoSE is expected to take place in Q4/2024.