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PNJ’s 2026 annual general meeting (AGM) approved a record revenue target of 48,660 billion dong and an after-tax profit target of 3,409 billion dong, representing increases of 37% and 21%, respectively, compared with 2025.
New CEO Phan Quốc Công spoke for the first time at the AGM, outlining PNJ’s readiness to absorb the full gold import quota previously discussed by Chair Cao Thị Ngọc Dung.
On profit distribution, PNJ plans to maintain a 20% cash dividend in 2026. The company also noted that it will pay a 10% advance dividend for 2025.
PNJ said it aims to build a multi-sector retail ecosystem beyond jewelry, supported by technology and people, while pursuing cautious expansion. New businesses, including financial services, are being piloted before scaling. The company is also considering restructuring into a corporate group to increase value.
Regarding the gold quota, PNJ’s production capacity is in the range of 3–10 tons per month, while import volume will depend on the quota allocated. The company reiterated that exports remain constrained by policy since 2011, but it continues exporting to major US partners based on its craftsmanship.
PNJ aims to sustain gross margins between 17% and 20% by optimizing input costs through recycling and benefiting from higher gold prices.
The AGM approved an employee stock ownership plan (ESOP) issuance of up to 1% of outstanding shares for 2027. It also approved nearly 170.6 million bonus shares to raise charter capital to about 5,119 billion dong to support expansion in 2026.
In governance, the AGM elected two new board members: Phan Quốc Công and Mai Hữu Tín. Mai Hữu Tín replaces Le Quang Phuc, bringing fresh governance perspectives.
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