PNJ reports large provisions and major share sales by Chairwoman's daughters

Phu Nhuan Jewelry Joint Stock Company (PNJ) has announced significant financial adjustments and ownership changes. The company's Board of Directors approved a plan to borrow capital from Chairwoman Cao Thi Ngoc Dung to supplement working capital for production and business activities.

To facilitate this, the Chairwoman's two daughters, Tran Phuong Ngoc Ha and Tran Phuong Ngoc Thao, have registered to sell a combined 25 million PNJ shares, representing approximately 4.88% of the company's charter capital. The transaction, valued at roughly 1,000 billion VND based on current market prices, is expected to take place between September 10 and October 10, 2026.

Simultaneously, PNJ's reviewed semi-annual financial statements for 2026 show a post-tax profit of 728.5 billion VND, a 38% decrease from previous reports. This decline is largely attributed to the company recording approximately 3,684 billion VND in provisions. This includes 1,416.8 billion VND for inventory devaluation and 2,267.3 billion VND for losses related to product buyback policies, some of which cover goods sold as far back as 2019.