HVS: Explanation for business result in Quarter 4.2012

HUNG VUONG SECURITIES CORPORATION explained profit after tax in Quarter 4.2012 increased beside Quarter 4.2011:

                                                                                                            By: thousand dongs

Item	Quarter 4.2012	Quarter 4.2011	Difference
			Value	Ratio %
Revenue	908,624	850,382	58,241	6.85%
Profit before tax	-841,335	-1,229,969	458,634	35.28%

Revenue in Quarter 4/2012 increased 6.85% compared to in Quarter 4/2011 because:

-         Securities markets recovered in Quarter 4, 2012.

-         Expenses before establish, depreciation expenses are allocated fully in Quarter 4/2011 and the company cut activities expenses.

HOSE

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