Board of Directors proposals for approval:

• The Audited Financial Statements for the year ended 31 December 2018
• FY2018 final cash dividend rate
• FY2019 final dividend plan
• FY2018 profit distribution plan
• Appointment of the independent audit firm of the fiscal year 2019
• Issuance of covered warrant products

At the meeting, the Board of Directors will report the 2018 business performance and propose the 2019 business plan with other important contents.

In 2018, HSC achieved impressive performance with VND1,700 billion in revenue and VND675 billion in net profit, representing increases of 23% and 22% y-o-y, respectively. The earnings per share (EPS) in 2018 grew in line with profit growth to VND5,214 per share. The return on average equity ratio (ROAE) was 23.1% (higher than that of 2017’s 21.4%).

In 2019, HSC targets to achieve a total revenue of VND1,666 billion. The target net profit after tax is VND681 billion, a slight increase in compared with 2018. The return on average equity ratio (ROAE) in 2019  is expected to be at 17.6%.

Key assumptions in the 2019 business plan:

• Average trading value with VND6,500 billion
• Market share in stock market is 12.3% and market share in derivatives will be 20%.
• The average margin balance is expected to reach VND4,000 billion
• In the light of the assumptions and targets presented above, the brokerage, margin lending, and proprietary trading businesses are expected to remain the key revenue drivers, contributing 49%, 31% and 13% respectively to the total revenue in 2019. The rest will be contributed by the corporate finance business. 

Revenue structure by business sector

Regarding dividends, after paying the FY2018 interim dividend at the rate of 6% (equivalent to VND600 per share), paying in cash on December 21, 2018, the BOD proposes the AGM to approve the FY2018 final cash dividend rate at 19% of par value (equivalent to VND1,900 per share). Expected record date will be on 22 May 2019 and expected payment date will be on 12 June 2019. The AGM also authorizes the BOD to decide FY2019 dividend rate based on HSC financial performance at the dividend payment time, in which the FY2019 dividend payout rate ranges from 15%.