Ho Chi Minh City Securities : 1H2022 EARNINGS PRESENTATION

HO CHI MINH CITY SECURITIES CORPORATION

2Q.2022 & 1H.2022 EARNINGS PRESENTATION

H o C h i M i n h C i t y, A u g u s t 0 2 n d , 2 0 2 2

EXECUTIVE SUMMARY

1. VN Index decreased 19% QoQ in 2Q.2022. ADV decreased to VND20,513 billion, down 34% QoQ and decreased 22% YoY.
2. In the 2Q, HSC generated VND779 billion of revenue and VND348 billion of PBT, which were almost flat YoY.
3. 1H.2022 accumulative revenue was VND1,633 billion, increasing 8%. PBT was VND703 billon, decreased 7% YoY.
4. HSC ranked #4 in securities service and #2 in derivatives within which we were the market leader in covered warrants and foreign trading.
5. Total assets reached VND19,180 billion at end of 2Q. The margin loan balance rose to VND11,227 billion, #5 in the market.

HIGHLIGHTS

Net revenue	Profit before tax	Margin loan balance
(VND bn)	(VND bn)	(VND bn)

2Q.2022	779	349	11,227
	1% YoY	-1% YoY	22% YoY
	Net revenue	Profit before tax	Earnings per share
	(VND bn)	(VND bn)	(VND)
1H.2022	1,633	703	1,229
	8% YoY	-7% YoY	-38% YoY

BUSINESS RESULTS SUMMARY

Business Results	2Q.2022	2Q.2021	+/-%	1H.2022	1H.2021	+/-%	Y2022 Plan
(VND bn)
Total revenue (*)	779	767	2%	1,633	1,505	9%	3,593
Operating expenses (*)	431	415	4%	931	751	24%	2,090
Profit before tax	349	352	-1%	703	754	-7%	1,502
Profit after tax	279	283	-1%	562	605	-7%	1,202
Total assets - VND bn	19,180	15,541	23%	19,180	15,541	23%	25,050
Shareholders' equity - VND bn	7,830	4,805	63%	7,830	4,805	63%	8,127
ROAE	3.6%	5.9%		7.4%	13.1%		16.0%
Outstanding shares - share	457,211,949	305,041,845	50%	457,211,949	305,041,845	50%	457,211,949
Earnings per share - VND	611	928	-34%	1,229	1,983	-38%	2,629
Book value per share - VND	17,126	15,753	9%	17,126	15,753	9%	17,902

(*): Gains and losses arising from proprietary investments were netted off for comparative purposes

2Q.2022 - REVENUE STRUCTURE (VND bn)

Securities services

-35%
361
	236
2Q.2021	2Q.2022

Margin lending

+21%
	327
271
2Q.2021	2Q.2022

Prop Investment

+28%
	167
131
2Q.2021	2Q.2022

Advisory services

+2,437%
	44
2
2Q.2021	2Q.2022

• Securities Services revenue decreased 35% due to decline of average trading value while market share increased 1bps. HSC remained the leader in the institutional client segment with 22% market share.
• Margin Lending revenue rose 21%, driven by higher margin outstanding and demand from the market
• Proprietary Investments revenue rose 28% thanks to contribution from covered warrants and bonds.
• Financial Advisory Services revenue posted a 2,437% YoY, as a result of a M&A deal closure.