The General Meeting of Shareholders (GMS) of SSI Securities Corporation (SSI) took place in Ho Chi Minh City on the afternoon of April 25. At the GMS, Mr. Nguyen Duy Hung, Chairman of SSI, said that the stock market does not generate money, it is only a channel for raising capital for businesses, a place to transfer capital contributions to shareholders. If someone thinks that it is easy to make money, it is not easy.
Success in the market depends on the choice and reception of information of the investor at that time. Don't be too greedy, listen to this person, that person, it will be very easy to not achieve the desired. Especially, if you don't know why to buy and don't know why to sell but only expect to buy to make money, failure is very high.
His experience in the market for more than 23 years is to choose good stocks, pursue them for a long time, not be swayed by anyone, then gain or loss is easy to control, but you cannot spend money and expect a lot of profit, having money to buy a car or a house is like gambling, it is very difficult to succeed. And if you have money but little experience, you should join fund management companies so they can advise you and the profit is low but safe...
SSI Chairman Nguyen Duy Hung at the Shareholders' Meeting
Mr. Hung also said that in order for the stock market to be upgraded, the backlog and long-standing market problems must be resolved. If the management agency implements the procedures well, the Vietnamese stock market will be upgraded in 2-3 years. At that time, foreign investors will be interested and will pour capital into the market.
Mr. Hung refused to answer questions about forecasting SSI stock prices until the end of 2023 because he said this was against the principles.
Responding to questions about increasing competitiveness for SSI, Mr. Hung said that SSI does not compete on fees but on benefits and safety for shareholders. SSI may not be number 1 in terms of brokerage market share, but the company's operating efficiency is always maintained and SSI's strategy is to choose sustainable steps and appropriate strategies for each stage.
In particular, SSI is building a new direction of providing a "privilege system" for investors not only in the short term but throughout the life cycle.
The General Meeting of Shareholders approved the 2022 profit distribution plan with a dividend payment rate of 10% in cash for shareholders, with the total expected dividend payment amount of VND 1,500 billion. The business plan for 2023, with the target of consolidated revenue reaching VND 6,917 billion, consolidated pre-tax profit reaching VND 2,540 billion. In the first quarter of 2023, consolidated revenue is VND 1,500 billion and consolidated pre-tax profit is VND 610 billion; reaching 24% of the plan.
In 2022, SSI's total assets reached VND 52,226 billion, an increase of 3% compared to 2021. Net revenue in 2022 reached nearly VND 6,517 billion, consolidated pre-tax profit reached VND 2,110 billion.
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