Ho Chi Minh City Securities Corp. · HOSE:HCM
Ho Chi Minh City Securities — Q3 2025 Earnings Presentation
10 slides from Ho Chi Minh City Securities's earnings presentation, Oct 22, 2025
Slide 1: Q3 2025 Earnings Call
hse HO CHI MINH CITY SECURITIES COMPANY Q3 2025 EARNINGS CALL
Slide 2: Highlights
Highlights VN Index ended Q3 2025 at 1,662 points, up 31% YTD and 21% QoQ, reflecting a strong market rebound compared to recent years. 1 Average daily market trading value rose sharply VND44 trillion, up 135% YoY and 83% QoQ. HSC recorded revenue of VND1.4 trillion in Q3, up 67% YoY, and VND3.1 tri
Slide 3: Vietnam's Stock Market 9M 2025
Vietnam’s Stock Market 9M 2025 1,700 1,662 100,000 1,600 31% YTD 80,000 1,500 1,400 60,000 1,300 40,000 1,200 20,000 1,100 1,000 - 12/31/2024 1/31/2025 2/28/2025 3/31/2025 4/30/2025 5/31/2025 6/30/2025 7/31/2025 8/31/2025 9/30/2025 Trading value (VND bn) VN Index Q3 2025 Q3 2024 +/-% 9M 2025 9M 2024
Slide 4: Business Results
Business Results Statement of income FY2025 % Q3 2025 Q3 2024 +/-% 9M 2025 9M 2024 +/-% (VND bn) Plan completed Total revenue (*) 1,389 831 67% 3,097 2,423 28% 4,438 70% Operating expenses (*) 839 555 51% 2,025 1,412 43% 2,836 71% Profit before tax 550 275 100% 1,073 1,011 6% 1,602 67% (*) Gains and
Slide 5: Revenue Structure | Q3 2025
Revenue Structure| Q3 2025 Securities Brokerage Margin Lending 163% 34% 1% 642 507 478 16% 37% 193 VND1,389 billion 67% YoY Q3 2024 Q3 2025 Q3 2024 Q3 2025 46% Prop. Investment Corporate Finance 49% 2% Securities Brokerage Margin Lending 226 Proprietary Investments Corporate Finance 152 2 2 Q3 2024
Slide 6: Revenue Structure | 9M 2025
Revenue Structure| 9M 2025 Securities Brokerage Margin Lending 37% 38% 1,663 1,204 2% 904 14% 29% 661 VND3,097 billion 28% YoY 9M 2024 9M 2025 9M 2024 9M 2025 Prop. Investment Corporate Finance 54% 9% 15% Securities Brokerage Margin Lending 486 444 Proprietary Investments Corporate Finance 54 62 9M
Slide 7: Expenses Structure | Q3 2025
Expenses Structure| Q3 2025 Variable expenses Fixed expenses 621 5 378 Other fixed expenses 22% 391 218 4 19% 177 15 Depreciation expense Other variable expenses 12% 6 12 21 Office related expenses 11% 8 27 271 Interest expenses 44% 19 27 IT expenses 1% 81 53 18 Incentives 139% Accrued bonus 194% 34
Slide 8: Expenses Structure | 9M 2025
Expenses Structure| 9M 2025 Variable expenses Fixed expenses 1,434 14 878 Other fixed expenses 17% 590 982 12 Depreciation expense 22% 534 Other variable expenses 41 Office related expenses 12% 14% 36 522 16 12 Interest expenses 88% 37 41 IT expenses 4% 52 49 157 33 Incentives 18% 58 Accrued bonus 1
Slide 9: Financial Position as of 30/09/2025
Financial Position as of 30/09/2025 Assets Liabilities & Equity 44,762 44,762 539 31,340 31,340 1,254 10,624 Other assets 36% 398 20,216 4,278 558 125% Other receivables 10,444 Loans 1% 466 20,429 6,947 39% Bonds 2,000 29,859 Owners equity 2% 1,206% Certificate of deposit 7,098 20,430 155% Other cur
Slide 10: Thank You
THANK YOU HO CHI MINH CITY SECURITIES COMPANY AB Tower, 76A Le Lai, Ben Thanh Ward, District 1, Ho Chi Minh City hsc.com.vn | (8428)38 233 299 9
Ho Chi Minh City Securities — Q3 2025 Earnings Presentation on 6ix