On June 28, 2022, Guotai Junan Securities (Vietnam) (HNX: IVS) held the 2022 Annual General Meeting of Shareholders at the Grand Plaza Hotel.

See the press release here.

The 2022 Annual General Meeting of Shareholders of Guotai Junan Securities (Vietnam) was held on June 28 at the Grand Plaza Hotel. In the meeting, the General Meeting of Shareholders discussed and approved 13 important contents, including (1) The 2021 operational report and the 2022 orientation of the Board of Management; (2) The report on 2021 business results and the 2022 plan of the Board of Directors; (3) The 2021 operational report and 2022 plan of the Supervisory Board; (4) The Report of Independent board member; (5) Adopting the business result and the profit distribution plan in 2021; (6) Elect members of the Board of Directors and members of the Supervisory Board for the term of 2022 – 2025; (7) Business plan and financial targets for 2022; (8) Through the auditing unit of financial statements in 2022; (9) Remuneration of the Board of Management and the Supervisory Board in 2022; (10) Amending and supplementing the Charter; (11) Promulgate internal regulations on corporate governance; (12) Promulgate the Regulation on Operation of the Board of Management; (13) Promulgation of the Supervisory Board Operating Regulation.

Speaking at the opening of the Meeting, Mr. Wang Jun Hong, Chairman of Guotai Junan Securities (Vietnam) said: “In 2022, the global economic recovery is disrupted by the Russia-Ukraine conflict, causing a major humanitarian crisis, increasing the price of food and goods, exacerbating inflationary pressures globally. However, factors such as effective disease control, low-interest rates, economic mobility in the global supply chain, foreign investment and internal policy dividend support, Vietnam’s economy is expected to maintain growth of 6.8-7.2% by 2022.” Mr. Wang Jun Hong believes in the development orientation of the Board of Management to 2022. The Company will be committed to improving the corporate governance system, strengthening risk management and compliance, ensuring financial security, maintaining stable operations, and establishing a sustainable development strategy; Efficient use of existing capital and achieving sustainable growth; Focusing resources to develop important projects to improve the quality of the company’s products and services; Focus on recruiting high-quality talent to constantly improve competitiveness.

 

At the Meeting, Mr. Hoang Anh – General Director of Guotai Junan Securities (Vietnam) presented a report on the business result of the company in 2021. Accordingly, in 2021, the company has set a record high in business performance after 15 years of establishment. Accordingly, in 2021, the company has set a record high in business performance after 15 years of establishment.

Specifically, the total revenue of the company in 2021 reached VND 96.2 billion – an increase of 67.6% compared to 2020. Profit before tax of the whole company reached VND 38.1 billion, exceeding 127% of the annual plan, an increase of 285% compared to 2020. In 2021, Guotai Junan (Vietnam) also recorded a historic growth in the value of total assets – an increase of 23.55%, reaching VND 842 billion.

Sharing the business plan for 2022, Mr. Huang Bo – CEO of Guotai Junan (Vietnam) expressed a positive view and cautious expectations for the market this year. Investor risk aversion has caused the market to face greater adjustment pressure in recent times, but VN-Index corporate profits are expected to continue to record double-digit growth of 20%-25%, bringing valuations back to more attractive levels.

On that basis, the BOD submitted to the AGM of Shareholders a business plan of 2022 reaching VND 100 billion in total operating revenue, profit before tax of VND 41.6 billion, along with orientations and action solutions for each business block. Guotai Junan (Vietnam) assessed that the Vietnamese market will have great development potential, the next 10 years will be the golden development period of the securities industry. Seizing that opportunity, the company will promote its own advantages and expand six main business areas, namely: expanding the business for institutional customers; developing foreign customers; widening the Ho Chi Minh market; focusing on priority customer development and asset management business; developing of investment banking business; product marketing, increasing brand recognition; improving the level of risk control and development of financial technology.

 

Assessing the year plan, CEO Huang Bo said that the above goals are completely achievable based on the context that Vietnam still has a lot of room to attract cash flow into the stock market. Guotai Junan (Vietnam) always upholds the motto of improving operational efficiency, speeding up growth, accompanying the development of the market, and ensuring harmonization of the interests of shareholders, partners and investors.

The stock market in 2022 contains many opportunities in addition to challenges, Guotai Junan (Vietnam) has set out optimal and innovative development strategies, promoting the interests of shareholders and investors, while creating value from the effectiveness of the risk management system. Inheriting the solid financial and corporate governance foundation of the parent group, Guotai Junan (Vietnam) is confident to expand market share, developing sustainably and accompanying customers on the path to prosperity. In the future, Guotai Junan (Vietnam) is expected to be a bridge between the local capital market and Hong Kong, contributing to the overall development of Vietnam’s stock market.

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