Enterprise establishing digital asset exchange worth 10,000 billion VND saw 93% decrease in profit in the third quarter

HVA Investment Joint Stock Company (HVA Group, stock code: HVA) recently announced its third quarter financial report.

Third quarter profit down 93%

It is recorded that the company's net revenue reached nearly 20 billion, nearly 17 times higher than the same period last year. Excluding capital costs, HVA Group's gross profit reached more than 1 billion VND, 3 times higher than the same period.

During the period, business management costs amounted to VND 2.8 billion, a sharp increase of 180% compared to the same period in 2024. As a result, HVA Group's pre-tax profit was only VND 100 million, while in the same period, the profit was nearly VND 1.5 billion, a decrease of 93% compared to the third quarter of 2024.

In the first 9 months of the year, the company recorded net revenue of nearly 61 billion VND and pre-tax profit of more than 4 billion VND, respectively 36 times and nearly 3 times higher than the same period last year.

As of September 30, HVA Group had equity of VND151 billion and total assets of nearly VND190 billion.

Doanh nghiệp lập sàn tài sản số 10.000 tỷ đồng giảm 93% lợi nhuận quý III - 1 — HVA Group Financial Report (Photo: HVA Group).

Recently, HVA Group has been noticed for its plan to contribute capital to establish a company to operate a digital asset trading floor, with a scale of 10,000 billion VND. Participating in giving opinions at the Private Economic Panorama (ViPEL) program, which organized a special meeting of Committee I on financial technology and digital assets on September 30 in Ho Chi Minh City, Mr. Le Hoa Nha - General Director of HVA Group - affirmed that the technology used for this project is completely Vietnamese.

At the extraordinary shareholders' meeting in September, the company was known to have approved the plan to deploy the DNEX Digital Asset Exchange in Da Nang with a cooperation capital scale of 10,000 billion VND. This move took place right after the Government issued Resolution 05/2025/NQ-CP on piloting the crypto asset market from September 9.

According to the business registration information, DNEX Digital Asset Exchange Joint Stock Company was just established on September 9, headquartered at MISA Building, Da Nang City. The General Director is Mr. Nguyen Chi Cong, born in 1984. Mr. Nguyen Chi Cong is a member of the Board of Directors of HVA Group.

DNEX is expected to be headquartered in Da Nang, in line with the city’s development orientation to become an international financial center. As the host unit, HVA Group will be responsible for planning, coordinating implementation and connecting partners. The announced strategic partners include Onus Finance UAB, Alpha Securities Joint Stock Company (APSC), Pacific Bridge Capital, SFVN Investment Joint Stock Company and Vemanti Group.

Losing money in stocks

According to the introduction on the company website, HVA Group operates in the main fields including Banking and Investment Services; Investment in the field of Innovation; M&A consulting and entrustment services; Financial support services; Wholesale of precious metals, raw gold...

Currently, the detailed investment portfolio published by the company on the website is BCC Contracts on assets including gold, cash and especially digital assets. At the end of the third quarter, BCC Contracts were recorded in other short-term receivables, with a value of VND 159 billion, an increase of 14% compared to the beginning of the year.

Meanwhile, according to the financial report, HVA Group is also investing more than 10 billion VND in securities. Some of the stocks with the largest proportion in the portfolio include: TLG (accounting for 29% of the total portfolio), CLX (accounting for 33% of the total portfolio...

As of the end of the third quarter, HVA Group's trading securities category was temporarily losing nearly 5%.