Self-trading has decreased sharply, which stocks does SHS hold?

Financial assets recorded through SHS's profit/loss at the end of the first quarter were VND8,804 billion, of which listed stocks accounted for the majority with a value of VND4,685 billion and listed bonds accounted for VND1,849 billion.

The financial report for the first quarter of 2025 of Saigon - Hanoi Securities Corporation (SHS) showed that operating revenue in the first quarter of this year reached VND 561.5 billion, a slight decrease compared to the same period last year (VND 564.5 billion). Specifically, almost all of SHS's activities did not grow compared to the first quarter of 2024, with revenue mostly remaining flat or even decreasing.  

Profit from financial assets recorded through profit/loss (FVTPL) reached VND369.2 billion, only slightly increasing by VND0.5 billion compared to the same period last year. Securities brokerage revenue reached VND52 billion, down 23.3%.  

Securities investment consulting and receivable lending activities have seen more significant growth. Revenue from securities investment consulting is 4 times higher than the same period last year, however, the value of 5.3 billion VND only contributes a small proportion to SHS's operating revenue. Interest from loans and receivables this quarter reached 127.9 billion VND, up 6% and contributing 22.7% to the revenue structure.

Not only did revenue decline, operating expenses during the period also increased by 142%, accounting for VND 179.6 billion. Notably, SHS lost VND 153.9 billion from selling financial assets, causing a loss of VND 120.6 billion from FVTPL financial assets, pushing operating expenses during the period up sharply.  

As a result, SHS's pre-tax profit in the first quarter of 2025 reached VND 325.6 billion, down 26% compared to the first quarter of 2024.  

Explaining this result, SHS said that the reason for the decrease in profit in the first quarter of this year compared to the previous one was because the stock market in the first quarter of the year was less favorable than the same period last year.  

SHS's total assets as of the end of the first quarter of 2025 were VND15,257 billion, up 8% compared to the beginning of the year. Of which, FVTPL assets and loans accounted for the main proportion, 57.7% and 30% of total assets, respectively.  

In loans and receivables, the value of margin loans alone at the end of the period was VND4,476 billion, an increase of nearly 10% compared to the beginning of the year.

The FVTPL assets at the end of the period were VND8,804 billion, a slight increase of VND660 million compared to the beginning of the year. Of which, listed stocks accounted for the majority with a value of VND4,685 billion and listed bonds accounted for VND1,849 billion. In the first 3 months of the year, SHS recorded other financial assets worth VND488 billion, while money market instruments decreased from VND1,214 billion to VND250 billion.  

Looking at the SHS's proprietary trading portfolio, it can be seen that this securities company is investing in the codes GEX, FPT , HPG, TCB, CTG. As of the end of the first quarter, the codes FPT and HPG were recording losses of VND1.3 and VND1.2 billion, respectively. However, the value of proprietary trading in the above codes only accounted for VND859 billion, the remaining VND4,291 billion in other stocks was not explained in detail by SHS, while this asset item recorded an increase of VND635 billion and a decrease of VND333.5 billion.

In FVTPL assets, which are bonds, SHS invested VND 2,578 billion and this item is recording a loss of more than VND 10.2 billion.  

As for AFS assets, SHS invested in two stocks, SHB and TCD. While SHB's value increased by VND465 billion, TCD's value decreased by VND164.6 billion.  

Source: https://baodautu.vn/tu-doanh-giam-manh-shs-dang-nam-nhung-ma-co-phieu-nao-d271578.html