New Risk • Jul 24
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 60% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (98% accrual ratio). Shareholders have been substantially diluted in the past year (60% increase in shares outstanding). Minor Risk Share price has been volatile over the past 3 months (6.0% average weekly change). Reported Earnings • Jul 19
Second quarter 2026 earnings released: EPS: ₫34.16 (vs ₫851 in 2Q 2025) Second quarter 2026 results: EPS: ₫34.16 (down from ₫851 in 2Q 2025). Revenue: ₫1.23t (down 35% from 2Q 2025). Net income: ₫75.9b (down 94% from 2Q 2025). Profit margin: 6.2% (down from 68% in 2Q 2025). Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ₫13,950, the stock trades at a trailing P/E ratio of 4.1x. Average trailing P/E is 16x in the Capital Markets industry in Vietnam. Total returns to shareholders of 80% over the past three years. Announcement • Jun 10
VIX Securities Joint Stock Company, Annual General Meeting, Jun 26, 2026 VIX Securities Joint Stock Company, Annual General Meeting, Jun 26, 2026, at 09:00 SE Asia Standard Time. Location: thang long ballroom, floor 7, melia hanoi hotel 44b ly thuong kiet street, cua nam ward, hanoi city Vietnam Valuation Update With 7 Day Price Move • May 12
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₫19,050, the stock trades at a trailing P/E ratio of 5.6x. Average trailing P/E is 16x in the Capital Markets industry in Vietnam. Total returns to shareholders of 260% over the past three years. Reported Earnings • Apr 21
First quarter 2026 earnings released: EPS: ₫90.00 (vs ₫243 in 1Q 2025) First quarter 2026 results: EPS: ₫90.00 (down from ₫243 in 1Q 2025). Revenue: ₫1.50t (up 60% from 1Q 2025). Net income: ₫138.4b (down 63% from 1Q 2025). Profit margin: 9.2% (down from 40% in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 47% per year, which means it is significantly lagging earnings growth. New Risk • Mar 08
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Vietnamese stocks, typically moving 8.1% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.1% average weekly change). High level of non-cash earnings (115% accrual ratio). Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to ₫17,650, the stock trades at a trailing P/E ratio of 5x. Average trailing P/E is 19x in the Capital Markets industry in Vietnam. Total returns to shareholders of 326% over the past three years. Announcement • Feb 28
VIX Securities Joint Stock Company has filed a Follow-on Equity Offering in the amount of VND 11.026295 trillion. VIX Securities Joint Stock Company has filed a Follow-on Equity Offering in the amount of VND 11.026295 trillion.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 918,857,914
Price\Range: VND 12000
Transaction Features: Rights Offering Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₫24,400, the stock trades at a trailing P/E ratio of 8.8x. Average trailing P/E is 19x in the Capital Markets industry in Vietnam. Total returns to shareholders of 428% over the past three years. Valuation Update With 7 Day Price Move • Oct 23
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₫33,100, the stock trades at a trailing P/E ratio of 12x. Average trailing P/E is 21x in the Capital Markets industry in Vietnam. Total returns to shareholders of 707% over the past three years. Reported Earnings • Oct 11
Third quarter 2025 earnings released Third quarter 2025 results: Revenue: ₫3.11t (up 492% from 3Q 2024). Net income: ₫2.45t (up ₫2.26t from 3Q 2024). Profit margin: 79% (up from 36% in 3Q 2024). The increase in margin was driven by higher revenue. New Risk • Aug 26
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Vietnamese stocks, typically moving 7.7% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (7.7% average weekly change). High level of non-cash earnings (206% accrual ratio). Shareholders have been substantially diluted in the past year (82% increase in shares outstanding). Minor Risk Profit margins are more than 30% lower than last year (37% net profit margin). Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₫34,700, the stock trades at a trailing P/E ratio of 60.8x. Average trailing P/E is 24x in the Capital Markets industry in Vietnam. Total returns to shareholders of 313% over the past three years. New Risk • Jul 25
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Vietnamese stocks, typically moving 5.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (206% accrual ratio). Shareholders have been substantially diluted in the past year (82% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (5.4% average weekly change). Profit margins are more than 30% lower than last year (37% net profit margin). New Risk • Jul 24
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 37% Last year net profit margin: 56% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks High level of non-cash earnings (169% accrual ratio). Shareholders have been substantially diluted in the past year (82% increase in shares outstanding). Minor Risk Profit margins are more than 30% lower than last year (37% net profit margin). Valuation Update With 7 Day Price Move • Jul 24
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ₫22,500, the stock trades at a trailing P/E ratio of 39.4x. Average trailing P/E is 21x in the Capital Markets industry in Vietnam. Total returns to shareholders of 253% over the past three years. Reported Earnings • Jul 22
Second quarter 2025 earnings released: EPS: ₫0.42 (vs ₫147 in 2Q 2024) Second quarter 2025 results: EPS: ₫0.42. Revenue: ₫1.91t (up 431% from 2Q 2024). Net income: ₫1.30t (up ₫1.18t from 2Q 2024). Profit margin: 68% (up from 35% in 2Q 2024). Valuation Update With 7 Day Price Move • Jul 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₫14,850, the stock trades at a trailing P/E ratio of 26x. Average trailing P/E is 18x in the Capital Markets industry in Vietnam. Total returns to shareholders of 170% over the past three years. Announcement • Apr 29
VIX Securities Joint Stock Company, Annual General Meeting, May 23, 2025 VIX Securities Joint Stock Company, Annual General Meeting, May 23, 2025, at 09:00 SE Asia Standard Time. Location: du parc hotel, no. 84 tran nhan tong, nguyen du ward, hai ba trung district, ha noi, Vietnam Reported Earnings • Apr 22
First quarter 2025 earnings released First quarter 2025 results: Revenue: ₫938.2b (up 171% from 1Q 2024). Net income: ₫372.3b (up 130% from 1Q 2024). Profit margin: 40% (down from 47% in 1Q 2024). Valuation Update With 7 Day Price Move • Apr 09
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₫10,450, the stock trades at a trailing P/E ratio of 23x. Average trailing P/E is 16x in the Capital Markets industry in Vietnam. Total loss to shareholders of 15% over the past three years. New Risk • Oct 04
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 82% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported December 2019 fiscal period end). High level of non-cash earnings (20% accrual ratio). Shareholders have been substantially diluted in the past year (82% increase in shares outstanding). New Risk • Apr 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Vietnamese stocks, typically moving 5.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported December 2019 fiscal period end). High level of non-cash earnings (20% accrual ratio). Minor Risk Share price has been volatile over the past 3 months (5.3% average weekly change). Announcement • Mar 27
VIX Securities Joint Stock Company, Annual General Meeting, Apr 12, 2024 VIX Securities Joint Stock Company, Annual General Meeting, Apr 12, 2024. Location: Jaune B meeting room, floor 2 Du Parc Ha Noi hotel, 84 Tran Nhan Tong street, Nguyen Du ward, Hai Ba Trung district Ha Noi City Vietnam Announcement • Nov 29
VIX Securities Joint Stock Company Announces Resignation of Du Van Toan as Head of Internal Audit Board Cum Secretary of BOD VIX Securities Joint Stock Company announced resignation of Mr. Du Van Toan as Head of internal audit board cum Secretary of the BOD. Effective date is November 24, 2023. New Risk • Nov 11
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Vietnamese stocks, typically moving 9.3% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Latest financial reports are more than 1 year old (reported December 2019 fiscal period end). Share price has been highly volatile over the past 3 months (9.3% average weekly change). High level of non-cash earnings (20% accrual ratio). Announcement • Oct 20
VIX Securities Joint Stock Company Approves Dividend Payment Plan for 2023 On October 17, 2023, VIX Securities Joint Stock Company announces the resolution of general meeting of shareholders to approve the following contents: Approving the plan for 2023 dividend payment with the excercise ratio of 10%. Announcement • May 31
VIX Securities Joint Stock Company (HOSE:VIX) acquired additional 3.09% stake in Dong Anh Electrical Equipment Corporation - JSC. VIX Securities Joint Stock Company (HOSE:VIX) acquired additional 3.09% stake in Dong Anh Electrical Equipment Corporation - JSC on May 23, 2023. VIX Securities Joint Stock Company increased ownership in Dong Anh Electrical Equipment Corporation 7.83% from 4.74%.
VIX Securities Joint Stock Company (HOSE:VIX) completed the acquisition of additional 3.09% stake in Dong Anh Electrical Equipment Corporation - JSC on May 23, 2023. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Chairman of the Board Thi Nguyen was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Jul 12
Inaugural dividend of ₫600 per share Eligible shareholders must have bought the stock before 19 July 2022. Payment date: 05 August 2022. This is the first dividend for VIX Securities since going public. The average dividend yield among industry peers is 4.9%. Announcement • Jul 08
VIX Securities Joint Stock Company Approves Cash Dividend for 2021, Payable on August 05, 2022 The BOD of VIX Securities Joint Stock Company approved the record date to pay cash dividend for 2021 as follows: Record date is July 20, 2022. Exercise ratio is 6%/par value (600 dongs/share). Payment date is August 05, 2022. Announcement • Jun 11
VIX Securities Joint Stock Company, Annual General Meeting, Jun 30, 2022 VIX Securities Joint Stock Company, Annual General Meeting, Jun 30, 2022, at 02:00 Coordinated Universal Time. Location: Melia hotel, 44B Ly Thuong Kiet, Hoan Kiem Ha Noi Vietnam Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. General Director & Vice Chairman Thi Nguyen was the last director to join the board, commencing their role in 2020. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 01
VIX Securities Joint Stock Company (HOSE:VIX) agreed to acquire Gelex Energy One Member Company Limited from VIX Securities Joint Stock Company (HOSE:VIX). VIX Securities Joint Stock Company (HOSE:VIX) agreed to acquire Gelex Energy One Member Company Limited from VIX Securities Joint Stock Company (HOSE:VIX) on March 28, 2022. Announcement • Mar 07
VIX Securities Joint Stock Company (HOSE:VIX) acqyuired 11.4% stake in Viglacera Ha Long joint stock company (HNX:VHL). VIX Securities Joint Stock Company (HOSE:VIX) acquired 11.4% stake in Viglacera Ha Long joint stock company (HNX:VHL) on February 26, 2021.
VIX Securities Joint Stock Company (HOSE:VIX) completed the acquisition of 11.4% stake in Viglacera Ha Long joint stock company (HNX:VHL) on February 26, 2021. Is New 90 Day High Low • Feb 22
New 90-day high: ₫29,850 The company is up 71% from its price of ₫17,500 on 24 November 2020. The Vietnamese market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 55% over the same period. Is New 90 Day High Low • Jan 15
New 90-day high: ₫26,850 The company is up 102% from its price of ₫13,300 on 16 October 2020. The Vietnamese market is up 25% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 81% over the same period. Is New 90 Day High Low • Dec 08
New 90-day high: ₫18,500 The company is up 48% from its price of ₫12,500 on 09 September 2020. The Vietnamese market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 31% over the same period. Is New 90 Day High Low • Nov 04
New 90-day high: ₫14,400 The company is up 71% from its price of ₫8,400 on 06 August 2020. The Vietnamese market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 24% over the same period. Is New 90 Day High Low • Oct 05
New 90-day high: ₫13,800 The company is up 111% from its price of ₫6,545 on 07 July 2020. The Vietnamese market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Capital Markets industry, which is up 14% over the same period. 
