The Vietnam Stock Exchange reaped a net profit of more than VND1.215 trillion (US$51.7 million) in the first six months of 2022, while its profit margin reached nearly 96 percent.

The Vietnam Stock Exchange (VNX), the operator of the Ho Chi Minh City Stock Exchange (HoSE) and Hanoi Stock Exchange (HNX), recently announced its consolidated financial statement for the first half of 2022.

This is the first time the organization has announced a semi-annual financial statement since its official launch in late 2021.

In January-June, VNX recorded more than VND1.98 trillion ($84.3 million) in net revenue from selling goods and providing services.

Securities transactions alone contributed 95 percent of its revenue.

The company spent approximately VND83 billion ($3.5 million) on operation costs, about four percent of its turnover despite high revenues from its core business

VNX’s profit margin thus reached nearly 96 percent.

The bourse also earned nearly VND57 billion ($2.4 million) from other financial activities, in addition to processing stock transactions as its primary business

The company, however, spent more than VND437 billion ($18.6 million) on business management.

VNX reaped a net profit of over VND1.215 trillion, of which nearly 76 percent was contributed by HoSE, over 22 percent by HNX, and the rest from financial activities, after deducting costs, related expenses, and taxes.

VNX contributed the remainder to the state budget after spending nearly two percent of its after-tax profit on the company’s bonus and welfare fund.

At the end of Q2 2022, VNX claimed total assets of approximately VND4.1 trillion ($174.5 million), of which bank deposits accounted for more than 68 percent.

The unit also reported a debt of nearly VND1.1 trillion ($46.8 million), down 32 percent compared to the beginning of the year.

The Vietnam Stock Exchange made its debut on December 11, 2021, on the basis of merging HoSE and HNX, with its head office located in Hanoi.

It operates as a single-member limited liability company with 100 percent of its charter capital, which is VND3 trillion ($127.7 million), owned by the state.

The prime minister tasked HNX with organizing and operating the derivative securities market, bond transactions, and other securities trading markets in accordance with the law.

HoSE is in charge of organizing and operating the stock trading market and those for other securities.

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