•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
PNJ Jewelry and Precious Metals Joint Stock Company (HOSE: PNJ) has released its annual general meeting (AGM) documents for 2026, which are expected to be held on April 22 in Ho Chi Minh City. The company outlined ambitious growth targets for the year, alongside plans to maintain its cash dividend policy and pursue corporate restructuring initiatives.
For 2026, PNJ targets revenue of VND 48,660 billion, representing a 37% increase from the previous year. After-tax profit is set at VND 3,409 billion, the highest level on record, up 21% year-on-year and marking the fifth consecutive year of profit growth.
PNJ also plans to keep its cash dividend policy at 20% for 2026.
In terms of development direction, PNJ said it will expand its ecosystem by establishing new companies based on existing business areas. The company is also seeking advisory partners to restructure into a corporate group model, aiming to increase value for shareholders and attract investors.
PNJ further indicated it is considering a share repurchase at an appropriate time to maximize long-term value.
In 2025, PNJ reported positive results despite pressures from a strong rise in gold prices, which affected both demand and input costs. Net revenue reached VND 34,976 billion, down 8% year-on-year, while net profit increased 34% to over VND 2,828 billion.
The company said growth was supported by its jewelry segment, a higher-margin business. The jewelry segment’s revenue share rose from 68% to 81%, helping PNJ exceed its annual profit target by 44%.
PNJ approved a 2025 cash dividend of 20%, equivalent to more than VND 682 billion in total. The company advanced 10% in early January 2026, with the remaining portion expected to be paid soon.
PNJ plans to implement an employee stock ownership plan (ESOP) in 2027, based on 2026 results. The issue price is VND 20,000 per share, with the maximum number of shares capped at 1% of outstanding shares, or about 3.4 million shares. Shares are intended for leadership, management, and key personnel.
Eligibility requires total profit attributable to shareholders to increase by at least 5% and not fall below the VN-Index’s increase. ESOP shares will be non-transferable for 36 months, with vesting of 30% after 12 months, 60% after 24 months, and 100% after 36 months from issuance.
PNJ also disclosed that it received the resignation letter from the Board Chairman on March 31, ahead of the 2026 AGM. The announcement states that Mr. Hai Anh resigned from the board to focus on professional IT work, where he serves as Senior Director.
Mr. Hai Anh’s resignation will be presented to shareholders at the upcoming meeting. He holds a background as a Nuclear Technology Engineer and has an MBA. He joined PNJ in August 2020 as Senior IT Director and was elected to the Board at the 2023 AGM.
PNJ’s Board currently has nine members, chaired by Ms. Cao Thi Ngoc Dung, while Mr. Le Tri Thong serves as Vice Chairman and Chief Executive Officer.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
