GTJASVN_PNJ_Equity Report_Flash Report_25 Jul 2024

Research Center

25/07/2024

PNJ’s net revenue in the first 6 months of the year reached VND 22,113 billion, up +34.3% yoy and completing 59.5% of the 2024 net revenue plan. Profit after tax in the first 6 months of the year reached VND 1,167 billion, up +7.4% yoy, completing 55.8% of the 2024 plan.

In terms of revenue structure, the retail jewelry segment continues to be the largest contributor, with revenue in the first 6 months of the year reaching VND 10,946 billion, accounting for 49.5% of the total revenue and growing 14% over the same period.

As of June 30, 2024, PNJ has a distribution system of 405 stores in 57 over 63 provinces and cities. Of which, there are 396 “PNJ” stores, 5 “Style by PNJ” stores, 3 “CAO Fine Jewelry” stores, and 1 wholesale center. In the first 6 months of 2024, PNJ opened 13 new stores and closed 8 stores.

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