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HSC Securities (HCM): Profit in Q3/2023 reaching the highest level in the last 5 quarters 

 Saturday, October 28,2023

AsemconnectVietnam - Ho Chi Minh City Securities Joint Stock Company (HSC, stock code HOSE: HCM) announced pre-tax profit for the third quarter of 2023 reaching VND266 billion, an increase of 36% compared to the second quarter of 2023 and the highest level in 5 years.

Accumulated in the first 9 months of 2023, HSC recorded pre-tax profit of VND617 billion, completing 68% of the 2023 plan.
Revenue in the third quarter of 2023 reached more than VND636 billion, an increase of 20% compared to the second quarter of 2023, of which:
Revenue from securities brokerage activities reached VND224 billion, accounting for 35% of HSC's total revenue. In the third quarter of 2023, brokerage activities increased sharply due to improved market liquidity compared to previous quarters and at a higher level than expectations at the beginning of the year. HSC takes good advantage of the market's transaction growth to maintain market share and grow margin loan balance.
Revenue from margin lending activities reached VND 292 billion, equivalent to 46% of HSC's total revenue. As of September 30, 2023, outstanding margin loans reached more than 11,331 billion VND, an increase of 28% compared to the end of the second quarter of 2023 and an increase of 54% compared to the beginning of the year.
Revenue from proprietary trading activities reached VND110 billion, contributing 17% to HSC's total revenue. The results of proprietary trading activities are significantly affected by strong and unpredictable market fluctuations in the first 9 months of the year.
The corporate financial consulting segment recorded revenue of VND6 billion in the third quarter of 2023. The time to carry out consulting deals is often long, so the reported revenue in the accounting period does not fully reflect the business results of this activity.
As of September 30, 2023, HSC's total assets reached VND16,663 billion, equity reached VND8,133 billion. Earnings per share (EPS) in the first 9 months of 2023 reached VND1,083/share.
Source: VITIC/Tinnhanhchungkhoan


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