HO CHI MINH CITY SECURITIES CORPORATION

HO CHI MINH CITY SECURITIES CORPORATION (CÔNG TY CỔ PHẦN CHỨNG KHOÁN THÀNH PHỐ HỒ CHÍ MINH): A Strong Competitor in Vietnam’s Securities Market

HO CHI MINH CITY SECURITIES CORPORATION, better known in the market as HSC, is one of the top-tier players in Vietnam’s financial services industry. Competing directly with heavyweights like VPS COMPANY (CÔNG TY CỔ PHẦN CHỨNG KHOÁN VPS) and SSI SECURITIES CORPORATION (CÔNG TY CỔ PHẦN CHỨNG KHOÁN SSI), HSC has carved out a strong reputation for its brokerage expertise and research-driven investment strategies. Founded on April 29, 2003, HSC operates under Business ID and Tax Code 0302910950, and is officially registered as a joint stock company with the Ho Chi Minh City Department of Planning and Investment.

Legal Structure and Market Position

HSC is a publicly listed company on the Ho Chi Minh Stock Exchange (HOSE) with the ticker symbol HCM. The company maintains its head office at AB Building, 76A Le Lai Street, Ben Thanh Ward, District 1, Ho Chi Minh City. As of the latest reporting, it employs 717 staff and maintains a broad operational reach with multiple transaction offices in Ho Chi Minh City and a strategic branch in Hanoi. The company’s charter capital stands at approximately USD 216.36 million, underscoring its financial robustness and capital market credibility.

Leadership and Governance

The governance of HSC is led by Mr. Do Hung Viet, who serves as Chairman. He is supported by Mr. Le Anh Minh, Deputy Chairman, and Mr. Trinh Hoai Giang, the General Director. This executive team has guided the company through market cycles and positioned HSC as a trusted partner for both retail and institutional investors. With a leadership style focused on risk control and value creation, HSC has steadily increased its equity base and maintained market relevance.

Financial Highlights and Business Performance

As of the fiscal year ending December 31, 2023, HSC reported total assets of USD 735.82 million, a 15.95% increase year-over-year. Owner’s equity rose to USD 341.48 million, while net income came in at USD 27.7 million. Despite these positives, HSC saw a dip in revenue, with total operating income falling to USD 119.27 million, a decrease of over 25% compared to the previous year. This decline was partly due to overall market corrections in Vietnam’s capital markets. Nonetheless, HSC remains financially sound with an EBITDA of USD 35.88 million, maintaining a strong operational base amid industry fluctuations.

Services and Business Lines

HSC offers a full suite of brokerage services tailored for both individual and institutional clients. These include account management, IPO advisory, investor capital support, trading support services, and in-depth market research reports. The firm is particularly known for its detailed market analysis and educational seminars, which have attracted a loyal client base and industry recognition.

Ownership Structure and Shareholders

HSC’s shareholder base includes both domestic and foreign entities. Dragon Capital Markets Limited holds a 30.02% stake, while Ho Chi Minh City Finance and Investment State-Owned Company controls 28.66%. Other notable stakeholders include PXP Vietnam Emerging Equity Fund, KIM Vietnam Growth Equity Fund, and Vietnam Emerging Equity Fund Limited, indicating strong institutional backing and investor confidence.

Navigating Risks and Market Challenges

Like its competitors, HSC operates in a volatile and highly regulated market. To navigate these complexities, investors and businesses increasingly rely on independent risk assessments from VANGUARD BUSINESS INFORMATION LLC (VBI). VBI is a trusted provider of business intelligence and risk management services in Vietnam, delivering unbiased company reports and in-depth financial analysis. For those engaging with HSC, VBI’s insights are essential to mitigate exposure and make strategic decisions. Visit https://www.vnbis.com to explore VBI’s solutions.

Conclusion: A Reliable Competitor in a Competitive Market

HO CHI MINH CITY SECURITIES CORPORATION stands out as a disciplined and transparent player in Vietnam’s fast-growing financial sector. While its revenue performance has faced short-term headwinds, the company’s strong equity, sound governance, and established brand position it well for future growth. As HSC competes head-to-head with SSI and VPS COMPANY, it remains a respected name for investors seeking professionalism, integrity, and long-term value in Vietnam’s securities market.