The Vietnam Stock Exchange (VNX) has released its Q1 2024 financial report, boasting a total revenue and post-tax profit of VND 575 billion. On average, VNX earned over VND 6 billion per day in the first quarter of 2024.
VNX’s revenue primarily stems from capital investment in its subsidiaries, with the Ho Chi Minh City Stock Exchange (HoSE) contributing nearly VND 449 billion and the Hanoi Stock Exchange (HNX) contributing almost VND 124 billion. Additionally, financial activities yielded nearly VND 12 billion, while business operations brought in VND 630 million.
Established in February 2021 under Decision No. 37/2020/QD-TTg by the Prime Minister, VNX has a charter capital of VND 3,000 billion. It operates as a parent-subsidiary model, with the State holding 100% of the charter capital. VNX’s main mission is to unify the organizational model, mechanisms, policies, development mindset, and information technology infrastructure to serve the market.
In its inaugural year of operations in 2021, VNX recorded a revenue of VND 2,054 billion and a post-tax profit of VND 1,337 billion. The following year, in 2022, the stock market experienced significant fluctuations, with exceptionally vibrant trading in the early months. Consequently, VNX’s revenue and profit surged to VND 3,423 billion and VND 2,089 billion, respectively.
However, in 2023, all key business indicators declined. Specifically, VNX’s total revenue for the year stood at VND 1,920 billion, a decrease of nearly 44% compared to 2022. 97% of this revenue came from capital investment in its subsidiaries. Post-tax profit also dipped by nearly 10% year-on-year, settling at VND 1,886 billion.
For 2024, VNX has set a target of nearly VND 2,797 billion in total revenue and over VND 1,423 billion in post-tax profit, representing a 46% increase and a decrease of nearly 25%, respectively, compared to the previous year’s performance. With the results achieved in Q1, VNX has accomplished 21% of its revenue plan and 41% of its post-tax profit goal for the year.
In 2024, VNX aims to continue its close collaboration with specialized units of the State Securities Commission (SSC), as well as its subsidiaries, to finalize and submit to the SSC for approval and issuance of business regulations. The exchange will also proactively review these regulations to align with legal changes and technical requirements of the KRX information technology system upon its operational launch.
Furthermore, VNX will provide feedback to regulatory authorities during the formulation of decrees, circulars, and other legal documents. In terms of market operations, VNX will proceed with the approved improvements to the VN30 index and introduce the VN100 Index Futures product.
