The information was shared by the company’s (HoSE: VDS) leadership at the 2026 Annual General Meeting of Shareholders held on April 16 in Ho Chi Minh City. Accordingly, Q1 revenue is estimated at approximately 200 billion VND, while profit recorded a loss of about 30 billion VND.

According to the Chairman of the Board of Directors, the main cause stems from a sharp increase in provisions for the proprietary trading portfolio amid unfavorable stock market developments in the early part of the year.

External factors such as geopolitical fluctuations, conflicts in the Middle East, and investor caution have significantly impacted investment performance. Additionally, rising interest rates have also added pressure on the operations of securities companies.

Nevertheless, Rong Viet’s leadership believes the market still has room for growth thanks to macroeconomic factors such as GDP growth targets, prospects for foreign capital inflows, and the business results of listed companies.

Notably, the Chairman emphasized the increasing competitive pressure from securities companies backed by banks. Instead of racing for capital scale, Rong Viet has chosen a cautious strategy, focusing on financial control and optimizing capital efficiency.

In 2026, the company plans to boost the outstanding loan balance for margin lending – one of its main revenue sources – through a deal-based financing model to leverage specific opportunities, rather than expanding broadly.

Despite an unfavorable start, Rong Viet still targets 2026 revenue of approximately 1,318 billion VND and post-tax profit of about 408 billion VND, representing increases of 20% and 45% respectively compared to the previous year.

The leadership stated that the Q1 results are short-term in nature, while the outlook for the entire year still largely depends on market developments, particularly expectations for an upgrade.

On the market, VDS stock closed the April 16 session at 15,150 VND/share, corresponding to a market capitalization of approximately 4,121 billion VND. The current market price of VDS has fallen more than 20% from its peak at the beginning of the year.

After listing on HoSE since December 2025, VPS Securities recorded a pre-tax profit of over 1,500 billion VND in Q1-2026, up 68% year-on-year and the highest quarterly figure to date.

Ho Chi Minh City

Ho Chi Minh City, formerly known as Saigon, is Vietnam’s largest city and economic hub. It served as the capital of the French colony of Cochinchina and later the capital of the Republic of Vietnam (South Vietnam) until the end of the Vietnam War in 1975, when it was renamed after the revolutionary leader Ho Chi Minh. Today, it is a dynamic metropolis blending French colonial architecture, such as the Notre-Dame Cathedral Basilica, with modern skyscrapers and vibrant street markets.

Middle East

The Middle East is a transcontinental region centered on Western Asia and Egypt, historically known as the “Cradle of Civilization” for the emergence of ancient societies like Mesopotamia and the birthplace of major world religions. Its history is marked by successive empires, from the Persians and Ottomans to the modern era shaped by the discovery of oil, geopolitical conflicts, and the establishment of nation-states in the 20th century. Today, it is a culturally rich and strategically vital area, home to globally significant historical and religious sites.