SSI AGM 2026: VN-Index 1,800 Scenario, Pre-Tax Profit Target 5,838B VND

Overview

SSI Securities Corporation (HOSE: SSI) held its 2026 Annual General Meeting on April 23, reporting 2025 pre-tax profit of 5,838 billion VND and setting 2026 targets of 15,660 billion VND in revenue (+19%) and 5,838 billion VND in pre-tax profit (+15%). The company presented a base-case scenario for the VN-Index to fluctuate around 1,800 points in 2026, citing supportive macro conditions and strong market liquidity.

Key Facts

• SSI reported 2025 pre-tax profit of 5,838 billion VND, meeting the 2026 target level.
• 2026 revenue target: 15,660 billion VND, representing 19% year-on-year growth.
• 2026 pre-tax profit target: 5,838 billion VND, up 15% from 2025 actual.
• VN-Index closed 2025 at 1,784.49 points, a 41% gain for the year.
• Average daily trading value on the HOSE in 2025 reached 29.3 trillion VND, up 39.8% year-on-year.
• Foreign investors net sold a record 135 trillion VND in 2025, up 46% from 2024.
• SSI had 163,615 shareholders as of the AGM, with 1,446 attending representing 51.08% of voting shares.

What Happened

SSI Securities held its 2026 Annual General Meeting on April 23, 2026, in Hồ Chí Minh City. Chairman Nguyễn Duy Hưng opened the meeting, noting the complex global political environment but strong domestic growth momentum. He highlighted Vietnam’s stock market upgrade as a milestone and observed a shift in investor behavior toward long-term accumulation.

CEO Nguyễn Đức Thông presented the 2025 results and 2026 business plan. He noted Vietnam’s GDP grew 8.02% in 2025, credit expanded 19%, and the VN-Index hit an all-time high of 1,784.49 points. Despite record foreign net selling of 135 trillion VND, market liquidity surged. The company’s 2026 targets assume the VN-Index will trade around 1,800 points, with revenue and profit growth in the double digits.

Market Context

SSI shares closed at 29,000 VND on April 15, 2026, up 0.17% with volume of 22.2 million shares. The stock has benefited from Vietnam’s strong market performance in 2025 and the broader securities sector’s growth. SSI, listed on HOSE, is the largest brokerage by market share and a bellwether for the industry. The VN-Index’s 41% rally in 2025 and elevated trading volumes have boosted brokerage revenues across the sector.

Strategic Significance

SSI’s 2026 targets reflect management’s confidence in sustained market activity and Vietnam’s economic momentum. The company’s focus on the 1,800-point VN-Index scenario aligns with expectations of continued GDP growth and credit expansion. The record foreign selling in 2025 poses a headwind, but SSI’s dominant market position and diversified income streams (brokerage, margin lending, investment banking) provide resilience. The AGM also signals SSI’s readiness to capitalize on Vietnam’s market upgrade and growing retail and institutional participation.

What to Watch

• Q1 2026 earnings release for SSI, expected in late April or early May, to gauge early progress against targets.
• VN-Index trajectory and average daily trading value in 2026, which directly impact SSI’s brokerage and margin income.
• Foreign investor flow trends: continued net selling could pressure market sentiment and SSI’s trading volumes.
• SBV monetary policy decisions, particularly interest rate and credit growth targets, affecting market liquidity.
• Progress on Vietnam’s stock market upgrade to emerging market status, which could attract foreign inflows.