Xuan Thien Securities H1 Net Profit Surges 5,285%

Overview

Xuan Thien Securities (XTS) reported a 5,284.8% surge in H1 2026 net profit to nearly VND 31.96 billion, driven by a 382% revenue increase to nearly VND 47 billion. The company attributed the growth to expanded equity capital and optimized fund utilization. Chairman Nguyen Nam Hung’s average monthly income reached VND 440 million, the highest among leadership.

Key Facts

• H1 2026 net profit after tax: nearly VND 31.96 billion, up 5,284.8% from VND 0.59 billion in H1 2025.
• H1 2026 revenue: nearly VND 47 billion, up 382% from under VND 10 billion year-on-year.
• Total costs rose 80.17% to nearly VND 14.7 billion.
• Chairman Nguyen Nam Hung earned over VND 2.649 billion in H1, averaging VND 440 million/month.
• Total income for the Board, Management, and Supervisory Board: over VND 3.64 billion, up from VND 1.574 billion.
• No corporate income tax expense was recorded in H1 2026, versus VND 932 million in H1 2025.
• Nguyen Van Thien, Chairman of Xuan Thien Group, holds 24.65% of XTS shares as of Dec 31, 2025.

What Happened

Xuan Thien Securities (formerly Sen Vang Securities) released its audited semi-annual financial statements for 2026, highlighting a dramatic profit surge. The company’s net profit after tax reached nearly VND 31.96 billion, a 5,284.8% increase from the same period last year, while revenue grew 382% to nearly VND 47 billion. Management explained that the revenue growth was driven by an injection of equity capital and more efficient use of funds to boost income.

The report also disclosed leadership compensation. Chairman Nguyen Nam Hung, appointed on June 11, 2026, replacing Le Huy Dung, received over VND 2.649 billion in H1, equivalent to VND 440 million per month. Other executives earned less: Ho Ngoc Bach received over VND 640 million, Nguyen Vu over VND 347 million, and Do Thi Thuy Giang over VND 3.4 million. Total compensation for the Board, Management, and Supervisory Board reached over VND 3.64 billion, up from VND 1.574 billion a year earlier.

Market Context

XTS trades on the UPCOM exchange. The company’s shares have been relatively illiquid, typical for small-cap securities firms. The broader Vietnamese securities sector has benefited from increased retail participation and market turnover in 2026, but XTS’s growth is exceptional even by sector standards. The profit surge is partly due to a low base in H1 2025, when net profit was just VND 0.59 billion. The company’s expansion and capital increase align with the sector’s trend of consolidation and capital raising.

Strategic Significance

For long-term investors, XTS’s results indicate successful execution of a growth strategy centered on capital expansion and operational efficiency. The company’s ability to grow revenue faster than costs suggests scalable operations. However, the lack of corporate income tax expense is notable and may reflect accumulated tax losses or incentives; this could normalize in future periods. The leadership compensation, particularly the chairman’s high pay, may raise governance questions. The strategic involvement of Xuan Thien Group, with a 24.65% stake, provides a strong parent-company backing that could support future capital raises or business synergies.

What to Watch

• Q3 2026 earnings release to see if profit growth is sustainable.
• Any further capital increases or share issuances by XTS.
• Changes in corporate income tax expense in subsequent quarters.
• Trading volume and liquidity of XTS shares on UPCOM.
• Regulatory filings regarding related-party transactions with Xuan Thien Group.