HoSE's building in Nguyễn Thái Bình Ward, District 1, Hồ Chí Minh City. HoSE benefited the most from huge cash inflows into the stock market last year. Photo tinnhanhchungkhoan.vn

HÀ NỘI —  The Hà Nội Stock Exchange (HNX) and the Hồ Chí Minh Stock Exchange (HoSE) recently released audited financial statements of 2020, showing the huge wave of investments that poured into the stock market last year, causing congestion on HoSE. 

The statements showed HNX’s net revenue rose 32 per cent year-on-year to VNĐ732 billion in 2021. 

Meanwhile, HoSE benefited more from the investments wave as its net revenue posted a gain of 39 per cent from 2019 to VNĐ993 billion despite overload issues.

Revenue from stock trading services accounted for 87 - 88 per cent of net revenue in both exchanges. 

After diminishing the cost of goods sold, HNX’s gross profit climbed 37 per cent, while HoSE’s gross profit jumped 44 per cent. HoSE's gross profit margin (93 per cent) was significantly higher than that of HNX, which was 87 per cent.

After balancing financial revenues and expenses, HNX witnessed a growth of 44 per cent in net profit, while HoSE’s net profit increased by 46 per cent. 

Last year, HoSE spent more on general and administrative expenses as the indicator rose up to 30 per cent, while that of HNX just edged 11 per cent higher. 

HNX’s profit before tax increased 28 per cent to VNĐ499 billion, and that of HoSE jumped 46 per cent to VNĐ691 billion. 

HNX explained that in 2019, the exchange recorded a profit of nearly VNĐ42 billion from transferring the science and technology development fund to serve business purposes, but it didn’t receive any significant income in 2020.

At the end of 2020, HNX’s total asset value reached nearly VNĐ1.36 trillion, including VNĐ1 trillion of equity and VNĐ356 billion of liabilities. Meanwhile, HoSE’s total asset value was nearly VNĐ3.3 trillion, of which VNĐ1.8 trillion was from equity and nearly VNĐ1.5 trillion was from liabilities. 

This year, HoSE set a target of nearly VNĐ1.1 trillion in revenue and VNĐ648 billion in profit before tax, while HNX estimated revenue of VNĐ824 billion with a profit before tax of VNĐ499.8 billion. VNS