VIX Securities exceeds 2023 plan, launches new trading system

(ĐTCK) In 2023, VIX Securities Joint Stock Company (VIX) reported that pre-tax profit increased threefold compared to the previous year, thanks to positive market developments. Looking ahead, at the end of January 2024, VIX will put the new trading system into operation with the goal of continuing to conquer the mass customer group.

VIX Securities has just announced its 2023 business data to the market. According to the recently released financial report, by the end of 2023, VIX recorded total revenue of 1,624 billion VND, an increase of 36.7%, and pre-tax profit of 1,198.8 billion VND, an increase of three times compared to the previous year (in 2022, reported profit before tax was 376.3 billion VND).

Previously, in September 2023, VIX Securities approved a plan to increase pre-tax profit to 1,150 billion VND, representing an increase of 70.1% compared to the plan at the beginning of the year (pre-tax profit plan at the beginning of the year was 676 billion VND). Thus, with the above results, the Company has completed 104% of the adjusted plan.

Going deeper into business results, VIX recorded profits from financial assets recorded through profit/loss (FVTPL) with a value of 1,070.2 billion VND, an increase of 40% compared to the previous year. This is also the largest contributor to operating revenue with a proportion of 66%.

Notably, in 2023, VIX’s operating expenses decreased by 47.8% compared to the previous year, recording a value of VND 393.6 billion. This development positively contributes to profit growth.

By the end of 2023, VIX’s total assets reached VND 9,086.8 billion, an increase of 11.5% compared to the previous year. Of these, financial assets recorded through profit/loss (FVTPL) reached more than VND 5,791 billion, accounting for 64% of total assets.

In terms of changes in the size of asset items in 2023, financial assets recorded through profit/loss (FVTPL) increased by 18.3% compared to the previous year. Held-to-maturity investments reached VND 3,008 billion, an increase of 67.6%.

With equity of 8,829.5 billion VND, VIX is in the top 5 securities companies with a large capital scale in the market. Large capital helps the Company improve its financial capacity to expand margin lending and proprietary trading activities, while also creating resources to promote technology investment.

New trading software XPower

Sharing at the Annual General Meeting of Shareholders in April 2023, VIX Securities leaders said that the Company intends to continue to maintain and develop investment activities and technology application, meeting information security requirements, and transaction mechanisms for customers. In addition, VIX Securities will aim to take care of customers using artificial intelligence (AI), providing specialized information.

Sticking to this strategy, at the end of January 2024, VIX will put the new trading software XPower into operation, including an online trading system and a new mobile application.

With updated advanced technology solutions, the new trading system enhances customers’ investment experience by ensuring outstanding speed and the ability to place orders/match orders smoothly and smoothly. Other operations such as money transactions, exercising stock rights, etc., can all be done simply and conveniently through the mobile application and web version.

Not only that, the trading application becomes a “consultant” that accompanies investors by providing professional tools and reports, helping customers manage assets and investment portfolios easily, smartly, and scientifically.

VIX is promoting the integration and application of AI into trading software, where information is proactively updated to investors, to help investors review, grasp opportunities, or adjust plans. Reasonable transactions, thereby optimizing investment performance.

The advantage of strong financial resources, effective business operations, and investment orientation for information technology and AI applications will be the foundation for VIX to continue to develop, improve competitiveness, and increase the number of mass customers, creating motivation for sustainable business activities. Because in the digital era, businesses with financial potential and the ability to focus on technology investment, combined with traditional business models, will have an advantage in a volatile business environment, especially in the Vietnam stock market.