DNSE Securities Joint Stock Company (Ticker: DSE) has just announced the documents for the 2026 Annual General Meeting (AGM), which is scheduled to be held at 13:30 on Thursday, March 26, 2026, in a hybrid format (in-person and online) at the Pullman Hanoi Hotel.

Challenging growth targets and a 7% dividend plan

According to the AGM proposal, DNSE's leadership expects the Vietnamese stock market in 2026 to continue facing challenges from global macroeconomic factors and monetary policies. However, it still holds several positive drivers due to a stable economic foundation, high market liquidity, and expectations of a market upgrade in the medium term.


Based on this, DNSE has set a relatively challenging business plan, with a total revenue target of 1,736 billion VND, up 18.2%, and pre-tax profit of 550 billion VND, up 61.8% compared to the previous year.


To achieve this goal, DNSE will continue to strengthen its technology infrastructure, apply data and artificial intelligence to support trading, and expand its service ecosystem to enhance the investment experience, particularly focusing on serving dynamic and high-frequency trading customers.


To supplement its business capital, DNSE will propose issuing 2,500 billion VND in non-convertible, non-warrant corporate bonds and 1,000 billion VND in convertible bonds in 2026.


Regarding profit distribution, the Board of Directors will propose a cash dividend for 2026 of up to 7% of the charter capital. Notably, on February 25th, DNSE completed the cash dividend payment for 2025 at a 7% rate.


Thus, 2025 marks the fourth consecutive year DNSE has maintained cash dividend payments, demonstrating its stable operational effectiveness and commitment to delivering sustainable value for shareholders.

2025 marks the fourth consecutive year DNSE has maintained cash dividend payments. (Image: DNSE).

In addition, DNSE also presented the plan to issue bonus shares for employees (ESOP) in 2026 with a quantity of 4,282,500 shares, equivalent to 1% of the expected charter capital at the time of issuance.

Moreover, the general meeting will consider the implementation of warrants and the establishment of a securities company at the International Financial Center in Ho Chi Minh City, along with several other contents.

Sustainable financial growth driven by technology strategy

According to the recently published audited financial report, DNSE ended 2025 with business results exceeding the plan. Revenue reached 1,467 billion VND, up 77%; pre-tax profit reached 340 billion VND, up 50% compared to 2024. Total assets as of December 31, 2025, were 15,139 billion VND, up 42%.


Revenue growth primarily came from securities brokerage revenue – up 179%; interest from loans and receivables – up 54%, reflecting the positive results of core business areas.


Currently, DNSE is offering 85.65 million shares to existing shareholders. After completing the issuance, the charter capital is expected to increase from 3,426 billion VND to 4,282 billion VND. The subscription ratio is 4:1, with the registration and payment deadline for the shares set for March 16.


Regarding this offering, DNSE's major shareholder, Encapital Technology Finance JSC, has registered to transfer 168.3 million subscription rights. The partner receiving the transfer has not yet been disclosed.


Encapital currently holds 168.3 million DSE shares, equivalent to 49.12% of DNSE's capital, and is expected to reduce this to 39.3% after completing the transfer. Mr. Nguyễn Hoàng Giang, Chairman of DNSE and CEO of Encapital, currently directly owns over 2.7 million shares, or 0.79% of DNSE’s charter capital.

Mr. Nguyen Hoang Giang, Chairman of DNSE, at the 2025 Annual Shareholders' Meeting. (Image: DNSE).

Encapital, founded by Mr. Giang and his colleagues in 2020, operates in the financial technology and software development sector. In its fundraising activities, by the end of 2025, Encapital had completed the payment of VND 104.5 billion in principal and interest for the ECF12401 bond series on time, demonstrating its financial capacity and credibility in the capital market. Encapital currently has two outstanding bond series: ECH12501 worth VND 180 billion and ECF12502 worth VND 280 billion.


On the DNSE side, after Encapital acquired DNSE in 2020, Encapital's participation as a strategic shareholder has propelled DNSE to remarkable growth in scale and business expansion, relying on a strong focus on applying technology in finance – securities.


Over the past 5 years, this strategy has proven effective and remains the long-term direction that the securities company will continue to follow.


In this strategy, DNSE's leadership has repeatedly emphasized investments in the speed, stability, and safety of the system, as well as different customer approaches through B2B2C collaboration channels to create a competitive advantage in the market.


Alongside accelerated business results, the company has continuously expanded its market share. In 2025, DNSE maintained the 2nd largest market share in derivatives securities brokerage with 21.47% market share and rose to 6th place in basic securities brokerage market share on HNX. DNSE also accounted for 20% of the total market share in new securities accounts opened over the past 2 years.

(Source: Biz Vietnam)