•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
HSC, a Vietnamese securities firm, reported Q1 2026 business results with revenue of 1,280 billion VND, up 48% year over year. Pretax profit reached 363 billion VND, up 28% compared with the same period in 2025.
The firm attributed the performance to improving market liquidity and growth across core business lines, particularly securities brokerage and margin lending.
Total costs increased mainly due to interest expenses associated with the expanded capital base and brokerage fees linked to revenue. Fixed costs were described as well controlled, moving in line with the scale of operations.
As of March 31, 2026, HSC’s total assets were 40,467 billion VND, primarily comprising financial assets and margin lending receivables. Equity stood at 14,402 billion VND.
HSC will hold its 2026 annual general meeting on April 23, 2026. The company is expected to present several key items to shareholders.
HSC said these targets represent increases of 50% in revenue and 56% in pretax profit versus 2025. It noted that quarterly revenue to date accounted for 19% of the annual target. The firm expects acceleration in upcoming quarters supported by full deployment of newly raised capital in 2025, advisory deals, and expanded brokerage activity backed by foreign capital inflows after market upgrading.
HSC’s capital raise plan includes issuing to existing shareholders, private placements, and an ESOP, with a total estimated size close to 5,000 billion VND. Proceeds are planned for margin trading activities in 2026 and 2027. Details on ratios, prices, and timing will be announced as required.
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…
