SSI sets a profit target of VND 4,370 billion, elects former Deputy Minister of Foreign Affairs to the Board of Directors
On May 7, SSI Securities Joint Stock Company held the Annual General Meeting of Shareholders in 2022.
At the meeting, Mr. Nguyen Hong Nam – General Director of SSI Securities Joint Stock Company presented a report on the company’s business activities in 2021 and business orientation for 2022. Specifically, in 2021 the company set a new record in business activities after more than 20 years of operation, with VND7,786 billion in net revenue – an increase of 72% compared to 2020.
Profit before tax of the whole company reached VND 3,365 billion, exceeding 60% of the year plan, an increase of 116% compared to 2020.
The Company’s margin balance at the end of the fourth quarter of 2021 increased strongly to VND 22,500 billion. In 2021, SSI also recorded a record growth in total asset value – up 42%, reaching VND 50,793 billion.
Owner’s equity at the end of 2021 is VND 14,220 billion, accounting for 28% of total capital and increasing 44% compared to the beginning of the year. In 2021, SSI has raised a substantial amount of funds from affordable loans from foreign banks on an unsecured basis – amounting to $267.5 million.
With the business plan of 2022, a representative of SSI shared, the company has a positive view of the market in 2022, according to which, the market will move cautiously in the first half of the year and become clearer about the prospect in Last half year.
Based on that general assessment, the company submitted to the General Meeting of Shareholders the 2022 business plan, reaching 10,330 billion VND in consolidated revenue – an increase of 31% compared to 2021, profit before tax of 4,370 billion VND – an increase of 30% compared to that of 2021. with execution number 2021.
At the General Meeting, the Board of Directors also submitted to the General Meeting of Shareholders to approve the plan to offer private shares to shareholders with a total expected number of more than 104 million shares. The offering price will not be lower than 90% of the average closing price of 10 consecutive trading days before the date the Board of Directors decides to approve the detailed issuance plan. The capital raised from the offering will be added to the business capital for the purpose of improving the underwriting capacity, investment capacity and margin lending trading capacity.
In addition, the Board of Directors also submitted to the General Meeting of Shareholders for approval to continue implementing the plan to offer additional shares to existing shareholders at the ratio of 2:1 and to amend and supplement the purpose of using capital of the offering. :1 was implemented in 2021 at the request of the State Securities Commission during the process of approving the application for registration of this offering. This is a newly arising content, which has not been announced in the previously disclosed GMS meeting documents.
The Congress also elected to additionally elect Mr. Nguyen Quoc Cuong – former Deputy Minister of Foreign Affairs as an independent member of the Board of Directors to replace Mr. Ngo Van Diem, whose term has expired.
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