Jul 24, 2026
Full Analysis
Positive
earnings beat
HDS posted Q2/2026 pre-tax profit of VND 1,118 billion, nearly quadruple the prior year, as revenue surged 171% and costs fell 15%. The result cements HDS's position as the industry's ROE leader and reflects strong underwriting and FVTPL gains.
Jul 24, 2026
Full Analysis
Positive
earnings beat
HD Securities (HDS) posted Q2/2026 pre-tax profit of VND 1,118 billion, nearly quadruple the VND 284 billion in Q2/2025, driven by a 171% revenue surge and a 15% cost decline. The result marks the highest quarterly profit in the company's history and cements its position among the top securities firms by ROE.
Jul 09, 2026
CafeF - Thị trường chứng khoán
Neutral
general news
May 27, 2026
Full Analysis
Negative
regulation change
HD Securities (HDS) faces a one-week suspension from private bond trading and settlement starting May 28, 2026, after 24 failed transactions in April 2026. The suspension comes shortly after HDBank (HDB) raised its ownership in HDS to 90%, consolidating it as a subsidiary.
May 25, 2026
Full Analysis
Positive
stake change
HDBank (HDB) has increased its stake in HD Securities (HDS) from 75.74% to 90%, making HDS a consolidated subsidiary effective Q2/2026. HDS concurrently completed a 2:1 stock dividend and a VND 8,768.5B rights offering, boosting charter capital to VND 10,961B ahead of a planned IPO of 164.4 million shares in H2 2026.
May 10, 2026
Full Analysis
Positive
stake change
ACB sees the Au Lac group increase its combined stake to 6% after a VND 192B purchase by Nguyen Thien Huong Jenny. Separately, HDBank spent over VND 8,500B to raise its ownership in HD Securities (HDS) to 90%, gaining controlling power and positioning HDS for an IPO.
May 04, 2026
Full Analysis
Positive
earnings beat smallcap
ORS (Chứng khoán Tiên Phong) reports Q1 2026 pretax profit of VND 42 billion, a 1,961% surge from VND 2 billion a year ago, driven by revenue of VND 270 billion and a 71% cost reduction. Nine other small-cap securities firms also posted triple-digit profit growth, though most started from a low base, limiting absolute scale.
Apr 24, 2026
Full Analysis
Neutral
leadership change
HDS appoints former VPBankS Chairman Vu Huu Dien as its new Chairman effective April 23, 2026, as the company prepares for an IPO of 164.4 million shares. HDS targets 2026 pre-tax profit of VND 3,375 billion, more than double 2025 results, and plans to establish a securities subsidiary at the International Financial Center.
Apr 23, 2026
Full Analysis
Positive
ipo
HD Securities (HDS) approved an IPO of 164 million shares at its 2026 AGM, aiming to raise charter capital to over VND 12,600 billion (~USD 504 million). The company also appointed Mr.
Apr 22, 2026
Full Analysis
Neutral
leadership change
HDS nominates Mr. Vu Huu Dien, former Chairman of VPBank Securities, to its Board of Directors for the 2025-2030 term, proposed by major shareholder HDBank.
Apr 21, 2026
Full Analysis
Neutral
capital raise
HD Securities (HDS) finalized a VND 8,768.5B rights offering at 10,000 VND/share and a 2:1 dividend stock issuance, both effective from late April 2026. The capital raise, alongside a proposed 2026 IPO, aims to boost charter capital to nearly VND 11,180B, supporting ambitious 2026 revenue and profit targets that more than double 2025 results.
Apr 20, 2026
Full Analysis
Positive
dividend announcement
HDS will issue over 73 million bonus shares as a stock dividend at a 2:1 ratio, with the record date on April 27, 2026. The dividend is funded from 2024 retained earnings of over VND 1,004 billion.
Apr 19, 2026
Full Analysis
Positive
earnings beat
HD Securities (HDS) reported Q1 2026 pre-tax profit of VND 352 billion, a 259% year-over-year surge, outpacing peers like VPBank Securities (+47%) and PSI (+220%). The result highlights HDS's strong operational leverage amid a recovering Vietnamese securities market, though sector performance remains mixed with APEC Securities reporting a loss.
Apr 19, 2026
Full Analysis
Positive
earnings beat
HDS posted Q1 2026 pre-tax profit of VND 352 billion, a 260% year-on-year increase driven by a VND 358 billion gain from financial assets at fair value. DSE's profit fell 79% to VND 14 billion due to a 120% surge in operating costs, highlighting divergent performance within Vietnam's securities sector.
Full Analysis
Positive
capital raise
TCBS plans a 5:1 bonus share issue in Q3-Q4 2026, lifting charter capital to about VND 33.293 trillion and overtaking SSI as Vietnam's largest securities firm by charter capital. The move, largely benefiting parent Techcombank, comes amid a wave of capital raises across the sector, mostly to fund margin lending.