HCMC – Phu Nhuan Jewelry JSC (HOSE: PNJ) reported net revenue of VND34.98 trillion and after-tax profit of VND2.83 trillion in 2025, according to its latest earnings reports.
In the fourth quarter of 2025, PNJ posted net revenue of VND9.62 trillion, up 12.1% year-on-year, while its after-tax profit surged 66.8% to VND1.22 trillion. For the full year, after-tax profit increased 33.9% from 2024, exceeding the profit target approved by shareholders by 44.4%.
Jewelry accounted for 80.6% of total revenue in 2025. Retail jewelry contributed 69.6%, while wholesale jewelry made up 11%.
Despite fluctuating consumer demand amid rising gold prices, PNJ’s retail revenue grew 11.1% year-on-year. The company attributed the increase to a recovery in demand in the fourth quarter, operational improvements across its store network, marketing programs, and flexible product and assortment adjustments.
PNJ’s average gross profit margin for the year reached 22.0%, up from 17.6% in 2024. The improvement was mainly driven by a higher share of retail jewelry revenue and increased recovery value from buyback items amid higher gold prices, along with effective cost control.
Closing the trading session today, January 21, PNJ edged down 1.79% to VND109,900, with nearly two million shares changing hands.
The VN-Index fell 8.34 points, or 0.44%, to 1,885.44, as declining stocks outnumbered gainers despite strong advances in oil and gas shares.
The Hochiminh Stock Exchange recorded 96 gainers and 246 losers by the close. Trading volume rose 11% from the previous session to 1.2 billion shares, while trading value totaled VND37.3 trillion, largely unchanged. Block deals accounted for 79 million shares worth VND2.75 trillion.
Oil and gas stocks led the market higher in the afternoon session. BSR hit its ceiling price at VND22,200. GAS jumped 5.26% to VND110,000, PVD gained 4.39% to VND29,750, and POW increased 2.45% to VND14,650. PGC added more than 1%. PLX reversed earlier losses of more than 3% to close slightly higher.
Banking stocks were mixed, with declines prevailing. STB stayed at its ceiling price of VND62,100, with nearly 26 million shares transacted. LPB picked up 1.42% to VND42,950, while CTG gained 1.39% to VND40,200. HDB picked up 0.35% to VND29,050.
Most other bank stocks fell. VCB dropped 0.95% to VND72,800 and BID slipped 0.38% to VND53,000, narrowing losses from the morning session. EIB declined 3.06% to VND22,200, the steepest fall in the sector, followed by VPB, down 2.35% to VND29,050. VIB, TPB, MBB and SSB each fell more than 1%.
Securities stocks weakened broadly, with TCX the only gainer, up 1.35% to VND52,500. HCM fell back to its floor price of VND23,750, with 78.4 million shares traded. VIX led the sector by liquidity with 83 million shares, falling 4.7% to VND24,350 after briefly hitting its floor price.
Other securities firms also declined sharply. AGR plunged 5% to VND16,150, CTS lost 3.69% to VND32,600, and VND dropped 3.06% to VND19,000. BSI declined 3% to VND38,800, while VPX, FTS, SSI and VDS fell between 2.5% and nearly 2.9%. SSI slid 2.76% to VND31,700, with 45.6 million shares traded.
Within the VN30 basket, which groups the 30 largest-cap stocks, only a few stocks made gains, including FPT and VRE. BCM was the biggest decliner as it lost 4.63% to close at VND76,300, followed by VNM, which fell 4.22% to VND70,300, and SAB, down 3.25% to VND50,600.
On the Hanoi Stock Exchange, the HNX-Index ended lower after late-session volatility. The index fell 0.45 point, or 0.18%, to 252.66 points, with 66 gainers and 99 decliners. Trading volume reached 115.8 million shares valued at VND2.78 trillion.
