Phu Nhuan Jewelry Joint Stock Company (PNJ) announced that Dragon Capital sold 100,000 PNJ shares, reducing its ownership from 5.0268% to 4.9972%, thus officially no longer being a major shareholder. On May 8, 2025, at a share price of 74,000 VND, Dragon Capital earned about 7.4 billion VND from this transaction. Regarding business performance, PNJ reported Q1 2025 revenue of 9,635.1 billion VND, a decrease of 23.5% year-on-year. Gross profit reached 2,048.3 billion VND, down 4.7%. Financial revenue surged 165%, but financial and selling expenses also increased. Net profit was 677.7 billion VND, a decline of 8.1% compared to the previous year. At the shareholders’ meeting in April 2025, PNJ set a profit target of 1,959.7 billion VND for 2025, a 7.3% decrease from the previous year. As of March 31, 2025, PNJ’s total assets reached 17,419.3 billion VND, with inventory accounting for 78.3% of total assets.
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