Phú Nhuận Jewelry (PNJ) Announces New Gold Jewelry Exchange Policy
Phú Nhuận Jewelry Joint Stock Company (PNJ) has announced a new gold jewelry exchange policy across its media channels, effective January 5, 2026.
The key change is that PNJ will now repurchase both low and high karat gold jewelry (excluding diamond/gemstone jewelry and wedding rings) at market prices.
Previously, PNJ only repurchased low karat gold jewelry at 70%-80% of the original invoice value, while high karat gold jewelry was repurchased at market prices.
This new policy formalizes a temporary program PNJ implemented in November-December 2025, where the company repurchased old gold jewelry, including low karat, high karat, and diamond/gemstone pieces, at market prices.
Vietcap’s Analysis of PNJ’s New Exchange Policy
Vietcap anticipates this new exchange policy will positively impact PNJ’s retail revenue growth, while having a negligible effect on gross profit margins in the retail segment.
Repurchasing 10K/14K/18K gold jewelry at market prices will enhance perceived value and liquidity for customers amidst rising gold prices, thereby attracting and retaining customers at PNJ.
Regarding retail gross profit margins, Vietcap believes the risk associated with the exchange policy is minimal. Market price repurchases only apply to plain gold/ECZ/CZ/pearl/Italian jewelry, not to higher-value diamond/gemstone pieces. Additionally, PNJ’s strong pricing power allows the company to offset increased input costs by raising selling prices or launching new, higher-priced products.
PNJ to Distribute Over VND 340 Billion in Interim Dividends for 2025
PNJ is set to distribute over VND 341.3 billion in interim dividends for the first tranche of 2025 to its shareholders. This cash dividend will be paid at a rate of 10%. The final registration date for eligibility is January 12, 2026.
PNJ Embarks on a New Growth Phase: Projected 2026 Profits to Surpass 3,000 Billion VND
As the undisputed market leader, PNJ is poised to capitalize on expansion opportunities and reap the benefits of the new policy framework.
PNJ Secures Double Victory at the 2025 Vạn Xuân Awards
On the evening of December 19th, Chairwoman Cao Thị Ngọc Dung and the PNJ brand were honored by the Ministry of Culture, Sports and Tourism with the prestigious “Lifetime Brand & Leadership” award at the Vạn Xuân Awards 2025. This is the highest distinction bestowed by the awards.
Gold Ring and Gold Bar Prices on December 13th
The current price of SJC gold bars at major gold retailers stands at 156.3 million VND per tael, while gold rings fluctuate between 153.6 and 155.5 million VND per tael.
Gold Ring and Gold Bar Prices on December 13th
The current selling price of SJC gold bars at major gold shops stands at 156.3 million VND per tael, while gold rings fluctuate between 153.6 and 155.5 million VND per tael.
