HCM - Hậu tăng vốn 3600 tỷ - Bài học SBS KLS MBS AGR VND

Summary

The video script discusses the investment potential of HCM stock, emphasizing its solid shareholder structure, transparency, and focus on sustainable growth. The speaker contrasts HCM's conservative approach with riskier, fast-growth business models in the securities industry. Despite a slow growth rate, HCM’s safe business model, capital mobilization strategy, and consistent profits during market downturns are highlighted as key strengths. The video also compares HCM with other securities firms that faced crises due to speculative practices, stressing the importance of choosing stocks with strong internal stability and long-term potential.

Takeaways

• 😀 HCM raised a total of VND 3,599 billion by offering 359 million shares at VND 10,000 per share, closing the shareholder list on June 24, 2025.
• 😀 Investors often hesitate when companies offer additional shares, but HCM's shareholder structure and dividend history provide reassurance for small investors.
• 😀 The largest shareholder of HCM is Dragon Capital, Vietnam's largest foreign investor, followed by significant stakes from the state and other foreign funds, ensuring stability.
• 😀 HCM's consistent profitability during market downturns, like in 2022, demonstrates its strong business model and stability in comparison to other securities companies.
• 😀 HCM's business model focuses on sustainable growth, avoiding risky assets that could collapse during a financial crisis, unlike other companies with short-term growth strategies.
• 😀 HCM's loan portfolio has grown significantly, with loans projected to reach 28-30 trillion VND within the next two years, reflecting the capital needs of Vietnam's economy.
• 😀 HCM's self-trading strategy focuses on investing primarily in bonds from large commercial banks, minimizing risk compared to competitors who invest in corporate bonds.
• 😀 The script highlights the failure of various securities companies that pursued fast growth models, showing that a safe, long-term business strategy is more reliable.
• 😀 Stock investment should focus not just on rapid growth, but on the internal strength and stability of a company, as evidenced by HCM’s sustainable model.
• 😀 The importance of choosing the right time to buy stocks is emphasized, as stock prices can fluctuate in the short term, affecting long-term returns.
• 😀 HCM’s safe business model and quality shareholder structure provide confidence in its long-term growth, even if short-term growth might be slower compared to more speculative stocks.

Q & A

What was the capital raised by HCM on June 24, 2025?

HCM raised a total of VND 3,599 billion by offering 359 million shares at VND 10,000 per share.

Why are individual investors often hesitant about companies offering shares?

Individual investors are often skeptical because many businesses in the Southern stock market are not transparent or fair to shareholders. After multiple offerings, shares may be delisted or trade below their par value, leading to investor hesitation.

What does HCM’s capital raising aim to achieve?

HCM’s capital raising aims to mobilize long-term capital to reduce the pressure of paying interest on loans and support sustainable business development.

How does HCM ensure transparency and fairness in its capital offerings?

HCM ensures transparency and fairness by having a strong shareholder structure, where both large and small shareholders contribute to the capital raise. Notably, major shareholders like Dragon Capital and the state also invest in the offering.

What makes HCM’s shareholder structure considered one of the best in the securities industry?

HCM's shareholder structure is considered top-tier due to the involvement of large foreign investors, the state, and other reputable funds, which ensures stability and trust in the company's capital-raising efforts.

How did HCM perform during the 2022 market downturn?

During the 2022 market downturn, many stocks lost substantial value, but HCM's profit remained stable, with only a 15% decrease compared to 2021. This demonstrated the company's resilience and safe business model.

What is HCM's approach to self-trading and investment?

HCM follows a safe self-trading strategy, primarily investing in bonds of large commercial banks like BIDV, MBank, and Vittin Bank, instead of riskier corporate bonds. This conservative approach ensures stable profits and minimizes risk.

What are the risks of focusing too much on corporate bonds, as seen in other companies?

Focusing too much on corporate bonds can expose companies to higher risks. For instance, when corporate bonds underperform or companies face financial difficulties, it can negatively impact the securities company, as seen with companies like VND and Techcombank.

What lessons can be learned from the failures of companies like KLS, TSC, and SBS?

The failures of companies like KLS, TSC, and SBS highlight the risks of pursuing high-growth, speculative business models. Despite large market shares, these companies faced severe financial crises due to poor decision-making and inadequate risk management, ultimately leading to delisting or restructuring.

What makes HCM a safer investment compared to other stocks in the securities industry?

HCM is considered a safer investment due to its focus on sustainable, low-risk business practices, even though its stock may not grow rapidly. Its strong shareholder structure, conservative trading strategies, and consistent profitability make it a stable long-term investment.