# Phu Nhuan Jewelry financial and policy changes

> Live situation record from CLSTR: https://clstr.news/situations/phu-nhuan-jewelry-financial-and-policy-changes
> Updated: 2026-10-02T04:25:48.000Z. Sources: 11. Developments: 2.

Phu Nhuan Jewelry Joint Stock Company (PNJ) has undergone significant financial and policy shifts. In mid-September, the company announced a resolution to reduce payment durations for product buybacks from customers to maintain financial balance, replacing a previous 120-day distribution schedule.

By early October, PNJ faced substantial financial challenges, including a revised business target projecting a post-tax loss of approximately 6,271 billion VND. This loss was attributed to a projected 7,071 billion VND provision related to commodity exchange policies. Following these announcements, PNJ shares experienced volatility, hitting floor prices for several consecutive sessions.

In a subsequent update to the Ho Chi Minh City Stock Exchange, PNJ explained that the five-session floor price streak was due to general market trends, cautious investor sentiment, and margin adjustments by securities firms. The company also noted that a high frequency of corporate disclosures in September may have impacted investor psychology. 

Furthermore, PNJ revised its 2026 consolidated business plan to project a loss of over 6,200 billion VND, citing unexpected issues in diamond operations and changes in product exchange methods. To support operations, the company previously proposed reducing its 2025 cash dividend from 20% to 10%, suggesting no dividend for 2026, and planning a private placement of up to 550 million common shares between late 2026 and mid-2027.

## Timeline

### 2026-10-02: Vietnam stock market sees PNJ price drop and major share transfers

PNJ explains its five-day stock floor decline citing market trends and diamond business issues, while Masan High-Tech Materials and Petrosetco see significant share transfers in Vietnam.

6 sources. https://clstr.news/cluster/pnj-shares-see-liquidity-recovery-after-massive-price-drop

### 2026-09-15: PNJ to reduce payment times for product buybacks

PNJ is adjusting its policy to reduce the payment timeframe for customers selling back products, aiming to balance the company's financial situation across different product lines.

7 sources. https://clstr.news/cluster/pnj-to-reduce-payment-times-for-product-buybacks

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Cite as: Phu Nhuan Jewelry financial and policy changes. CLSTR, https://clstr.news/situations/phu-nhuan-jewelry-financial-and-policy-changes