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At the 2026 Annual General Meeting held on the morning of April 16, 2026, DSC's Chairman and CEO Bạch Quốc Vinh said that the VN-Index could target the 1,950–2,000 point zone in an optimistic scenario, as the economy continues to grow strongly with a GDP target around 10%, and as the US–Iran tensions ease and energy prices gradually stabilize. According to the DSC CEO, the market’s support also comes from the earnings before tax outlook of listed companies rising about 10–15%, while valuation multiples remain attractive with a forward P/E around 11x. In addition, the upgrading of the market is expected to attract about 5–8 billion USD of foreign capital. However, the DSC CEO cautioned investors to closely monitor risks such as prolonged geopolitical tension, inflationary pressures, high interest rates, and a high exchange rate. Although the long-term outlook is positive, Mr. Vinh emphasized that investors should stay prudent, because market corrections, if they occur, could be very deep and painful. According to him, after a sharp rise from the bottom 2–3 years ago, the current level of the index is significantly higher than in previous years. "Unlike past periods of sharp declines, when blue-chip stocks discounted 15–20% quickly attracted bottom-fishing demand, capital flows today have not truly shown greed, indicating that overall sentiment remains quite cautious about resuming investments," the DSC CEO noted. Regarding the plan to seek strategic shareholders, DSC said it is targeting partners from large domestic companies or financial institutions. The proposed offering price is not expected to be below 20,000 VND per share, corresponding to a company valuation of around 5,500 billion VND. According to the disclosed direction, strategic investors may come from domestic or foreign sources, provided they meet full investment regulations in Vietnam, have strong financial capacity, possess international prestige and reputation, and have experience operating in the securities sector. Regarding the long-term outlook, DSC aims to rise to the top 10 securities firms in the market, and to reach a profit threshold of 1,000 billion VND in the future. At the annual meeting, DSC Securities approved the 2026 business plan with total revenue of 747 billion VND and pre-tax profit of 356 billion VND, up 7% and 3% respectively versus 2025. The 2026 profit plan is built to closely follow macro recovery expectations, aiming to set a new record. DSC said it would maximize margins from margin lending with record loan balances, while flexibly restructuring the proprietary trading portfolio to align with cash flow on the market. Regarding customer base expansion, DSC also indicated that the 2026 direction is to continue leveraging the maximum from the TC Group ecosystem, rather than racing for market share at all costs. The brokerage notes that deeper tapping of the customer base from this network is expected to yield sustainable revenue growth and be less affected by short-term market adjustments.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
