VPS Securities (VCK) Targets 2026 Pre-Tax Profit of VND 5,750B, Up 28.6%
This Aveluro analysis covers VCK (Chứng khoán VPS) in the Financial Services sector. The classified event type is guidance raise, with positive sentiment and a deterministic market-impact score of 8.4/10. Aveluro classifies this story as a positive catalyst in the stock's news coverage. Source coverage came from CafeF - Thị trường chứng khoán, classified as a primary/top-tier source.
Key Facts
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Overview
VPS Securities Joint Stock Company (VCK) held its 2026 Annual General Meeting of Shareholders (AGM) in Hà Nội on April 15, 2026, approving ambitious growth targets for the year. The company aims for operational revenue of VND 11,500 billion, a 39.2% increase from 2025, and pre-tax profit of VND 5,750 billion, up 28.6%, with leadership expressing determination to exceed these figures.
Key Facts
- Approved 2026 revenue target: VND 11,500 billion, up 39.2% year-on-year.
- Approved 2026 pre-tax profit target: VND 5,750 billion, up 28.6% year-on-year.
- 2025 after-tax profit (excluding unrealized profit): VND 3,563 billion; VND 1,424 billion distributed via a stock dividend to increase capital.
- No cash dividend planned for 2026; undistributed profit retained: VND 2,139 billion.
- 2025 capital raised: VND 12,139 billion from IPO (November 2025) and VND 1,976 billion from private placement (December 2025).
- Planned investments: VND 900 billion for technology infrastructure and VND 270 billion for human resource development.
- 2025 market share leadership: 15.95% on HOSE, 19.49% on HNX, 17.76% on UPCOM, and 38.99% in derivatives.
What Happened
VPS Securities (VCK) convened its 2026 AGM in Hà Nội on April 15, 2026, where shareholders approved the business plan for the year. According to the company filing, the plan sets operational revenue at VND 11,500 billion and pre-tax profit at VND 5,750 billion, representing growth rates of 39.2% and 28.6%, respectively, compared to 2025 results. Chairman of the Board of Directors Nguyễn Lâm Dũng stated that VPS is determined not only to complete this plan but to strive to exceed the profit target.
The AGM also addressed profit distribution. For 2025, after-tax profit excluding unrealized profit was VND 3,563 billion. The company distributed VND 1,424 billion through a stock issuance to increase capital from equity sources, leaving VND 2,139 billion as undistributed profit. VPS confirmed it will not pay a cash dividend in 2026. Additionally, the meeting reviewed the use of funds raised in 2025, totaling VND 14,115 billion from IPO and private placement, with most allocated to margin lending, while technology and human resource investments are slated for future deployment.
Market Context
VCK trades on the Hồ Chí Minh Stock Exchange (HOSE) and closed at VND 37,000 on April 10, 2026, down 0.80% with volume of 4.853 million shares. The stock’s performance reflects ongoing market volatility in the Vietnamese securities sector. The ambitious 2026 targets come after a robust 2025 where VPS reported revenue of VND 8,261 billion (+27.7%) and pre-tax profit of VND 4,471 billion (+41.8%), exceeding approved plans and solidifying its position as Vietnam’s top brokerage by market share for five consecutive years.
Strategic Significance
The 2026 guidance underscores VPS’s focus on scaling operations while enhancing service quality and technological capabilities, as emphasized by CEO Lê Minh Tài. Retaining earnings instead of paying a cash dividend signals a strategy to reinvest in growth, particularly in margin lending and infrastructure, leveraging the capital raised from its 2025 IPO. This approach aims to strengthen its market leadership amid increasing competition in Vietnam’s financial services sector, where technology and capital efficiency are critical differentiators.
What to Watch
- Quarterly earnings releases in 2026 to track progress toward the VND 5,750 billion pre-tax profit target.
- Implementation updates on the VND 900 billion technology infrastructure and VND 270 billion human resource development plans.
- Market share data for HOSE, HNX, UPCOM, and derivatives to monitor competitive positioning.
- Any adjustments to dividend policy or capital allocation strategies in subsequent shareholder meetings.