Everest Securities (EVS) Posts Record Q2 Profit of 195B VND, Stock Hits Ceiling
This Aveluro analysis covers EVS on HNX in the Financial Services sector. The classified event type is earnings beat smallcap, with positive sentiment and a deterministic market-impact score of 5.6/10. Aveluro classifies this story as a positive catalyst in the stock's news coverage. Source coverage came from Tuổi Trẻ - Kinh doanh, classified as a primary/top-tier source.
Key Facts
Caveat: Not investment advice. · How Aveluro computed this: Aveluro combines extracted event facts, source credibility, ticker context, and market data. Scores are deterministic research signals, not recommendations.
Overview
Everest Securities (EVS) reported a record quarterly net profit of nearly 195 billion VND in Q2 2026, reversing a loss of over 157 billion VND in Q1. The strong performance was driven by proprietary trading gains, with the stock hitting its ceiling price for two consecutive sessions. The result far exceeds the company’s full-year profit target.
Key Facts
- Q2 2026 net profit: nearly 195 billion VND, the highest quarterly profit in company history.
- Q1 2026 net loss: over 157 billion VND.
- Q2 2026 operating revenue: over 281 billion VND, up more than 9x year-on-year.
- Proprietary trading gains (FVTPL): 278 billion VND, up more than 13x year-on-year.
- Margin lending profit: halved to about 2 billion VND; brokerage revenue fell 78% to under 1 billion VND.
- H1 2026 net profit: over 37 billion VND, up more than 15x year-on-year.
- Full-year 2026 profit target: nearly 6 billion VND; achieved over 600% of target in H1.
What Happened
Everest Securities (EVS) released its Q2 2026 financial statements, revealing a dramatic turnaround from a loss of over 157 billion VND in Q1 to a record net profit of nearly 195 billion VND. The main driver was proprietary trading, with gains from financial assets at fair value through profit or loss (FVTPL) reaching 278 billion VND, up more than 13 times from the same period last year. Operating revenue surged to over 281 billion VND, more than nine times the prior year’s figure.
Despite the strong overall result, core business lines remained weak. Margin lending profit fell by half to about 2 billion VND, brokerage revenue dropped 78% to under 1 billion VND, and custody revenue declined 31%. The company’s proprietary trading portfolio expanded from over 914 billion VND to nearly 1.53 trillion VND, accounting for about 66% of total assets. EVS also recorded a positive fair value adjustment of over 176 billion VND on its investment portfolio.
Market Context
EVS shares closed at 5,900 VND on July 16, 2026, and subsequently hit the ceiling price for two consecutive sessions, reaching 6,400 VND on July 17. Trading volume surged to over 900,000 shares, nearly four times the 10-session average. The stock is listed on HNX and has been under pressure due to the Q1 loss, but the Q2 earnings beat has triggered a sharp rebound. The broader securities sector has been volatile amid fluctuating market conditions.
Strategic Significance
The Q2 results highlight the high dependence of EVS on proprietary trading for profitability, as core brokerage and margin lending businesses continue to struggle. The company’s ability to generate large trading gains in a short period demonstrates potential upside from market volatility, but also raises questions about earnings sustainability. The significant reduction in receivables (from over 1,144 billion VND to about 574 billion VND) suggests improved asset quality, partly due to recovery of loans secured by NVB shares. Investors should monitor the consistency of proprietary trading income and the recovery of core business lines.
What to Watch
- Q3 2026 earnings release to see if proprietary trading gains can be sustained.
- Changes in the size and composition of the proprietary trading portfolio.
- Recovery in brokerage and margin lending revenues.
- Further updates on the recovery of receivables, especially those secured by NVB shares.
- Any regulatory changes affecting securities firms’ proprietary trading activities.