AsemconnectVietnam - Phu Nhuan Jewelry Joint Stock Company (code: PNJ) has just announced the documents for the 2025 Annual General Meeting of Shareholders (AGM).

The meeting is scheduled to take place on the morning of April 26 in Ho Chi Minh City. The list of shareholders was finalized on February 11.
According to the AGM documents, in 2025, PNJ set a revenue target of VND31,607 billion, 17% lower than the same period. The target profit after tax is nearly VND1,960 billion, down 7% compared to the record level of 2023 (PNJ often exceeds its business plan).
According to PNJ leaders, the jewelry industry is facing difficulties due to the scarcity of raw materials due to rising gold prices, while purchasing power has not recovered and the growth rate of the luxury retail industry has declined. Many gold businesses have closed, operated at a standstill, or changed industries. PNJ is currently the only listed jewelry company with more than 1,000 goldsmiths, two factories, and a production capacity of about four million products/year.
Mr. Le Tri Thong, General Director of PNJ, said that one of the new trends in the Lifestyle retail industry is products focused on men. This can be considered a potential segment but many jewelry businesses pay little attention to it. In addition, PNJ is focusing more on the young customer segment, especially the group born in the late 90s.
Previously, in 2024, PNJ achieved net revenue of VND37,823 billion, 14% higher than the previous year. Record high after-tax profit of VND2,113 billion, up more than 7% over the same period.
With the achieved results, PNJ's Board of Directors proposed to pay dividends according to the plan of 20% in cash. Of which, the Company has provisionally paid 6%, so it will pay an additional 14% in the coming time, equivalent to VND473 billion. Regarding profit distribution, PNJ wants to reserve 40% of profits for the development investment fund, 5% for the welfare reward fund. The dividend target is maintained at 20% in cash.
Regarding the issuance of shares under the employee stock option program (ESOP), the Company plans to issue at a rate of 0.96% of the total outstanding shares, equivalent to 3.24 million shares. The preferential price is VND20,000/share, much lower than the current level of over VND70,000. The subjects are members of the Board of Directors, Executive Board, Senior Advisors, Managers, Experts and Key Personnel Group.
Also at this year's annual meeting, PNJ will have 3 members of the Board of Directors whose terms have ended. Therefore, the Company will re-elect 3 additional members Tran Ngoc Phuong Thao, Nguyen Tuan Hai and Tieu Yen Trinh to return to the Board of Directors for the 2020-2025 term.
N.Nga
Source: VITIC/Tinnhanhchungkhoan