Gold price nears 170 million/tael, PNJ’s gold sales revenue drops 43%, what led to a record profit of nearly 2,830 billion VND?

Phu Nhuan Jewelry Joint Stock Company (PNJ) has announced its 2025 financial results, showing a revenue of 34,976 billion VND, down 7.5% from 2024, mainly due to a decline in gold 24K sales (-42.8%) due to a lack of raw materials. However, net profit reached 2,829 billion VND, up 33.9%, exceeding the annual target by 44.4%, thanks to improved gross profit margins. The retail jewelry segment accounted for 69.6% of total revenue, growing by 11.1%. PNJ opened 17 new stores, bringing the total to 431. PNJ shares are currently trading at 108,000 – 112,000 VND/share with a market capitalization exceeding 38,000 billion VND. The Board of Directors plans to issue over 170 million bonus shares, raising the charter capital to over 5,100 billion VND. Shareholders will receive a dividend advance for the first installment of 2025 on January 28.