PNJ to reduce payment times for product buybacks

Phu Nhuan Jewelry Joint Stock Company (PNJ) has announced a Board of Directors resolution to adjust and reduce the payment duration when the company repurchases products from customers.

This adjustment will vary depending on the specific product line to ensure the company's financial balance. Previously, under a plan implemented in mid-July, customers choosing cash over product exchange could receive payments over a 120-day period. Under that schedule, customers received 10% on the transaction day, 20% after 30 days, 25% each at 60 and 90 days, and the final 20% at 120 days. The new policy aims to shorten these timelines, though specific details regarding the new exact durations for each product category have not yet been fully disclosed.