HD Securities suspended payment, individual bond trading

HDBS recorded a sharp decline in both revenue and profit in the first quarter of this year.

HD Securities Joint Stock Company (HDBS) has just announced that it has received the decision of the Vietnam Securities Depository and Clearing Corporation (VSDC) and the decision of the Vietnam Stock Exchange (VNX) on suspending payment and transaction activities, as well as trading activities in the private corporate bond market.

The suspension period lasted from May 20 to May 26. The reason for the suspension was that HDBS was reprimanded by VSDC for two consecutive months.

Specifically, in the newly issued decision, VSDC stated that for two consecutive months (from April to May 2025), HDBS was reprimanded by VSDC for eliminating payment for individual corporate bond transactions.

VSDC requires HDBS to be responsible for strengthening control of business operations, ensuring compliance with current regulations to limit errors leading to the elimination and non-payment of individual bond transactions.

Immediately after VSDC's decision, VNX suspended all trading activities in the private bond market of HD Securities Company at the Hanoi Stock Exchange (HNX).

Regarding business performance, HDBS recorded a decline in both revenue and profit in the first quarter of 2025. Specifically, HDBS's operating revenue in the first quarter of this year only reached VND 244 billion, down 65% compared to the same period last year.

The revenue structure shows that the sharpest decline is in the underwriting and securities issuance agency business. If in the first quarter of 2024, this sector brought HDBS 470 billion VND, then in the first quarter of this year it was only 15.4 billion VND.

After deducting expenses, HDBS reported pre-tax profit of VND98 billion, down 43% year-on-year. Last year, the securities company recorded operating revenue of VND2,176 billion and after-tax profit of VND536 billion.

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BINH KHANH

Source: https://tuoitre.vn/chung-khoan-hd-bi-dinh-chi-thanh-toan-giao-dich-trai-phieu-rieng-le-20250521170904901.htm