PNJ shares hit the daily ceiling of 19,750 dong ahead of an extraordinary shareholders' meeting, with more than 4 million shares in unfilled buy orders at the ceiling price and matched volume above 16 million shares, worth over 315 billion dong. Foreign investors returned as net buyers of over 3.5 million shares after heavy selling. At the meeting, the company will present a restructuring plan following the diamond incident, including cutting this year's revenue target by about 20% to around 39,000 billion dong and setting aside over 7,071 billion dong in provisions, which would swing projected after-tax profit from 3,400 billion dong to a loss of 6,271 billion dong. It also proposes lowering last year's dividend payout from 20% to 10% and issuing up to 550 million shares privately. The stock has lost about 70% of its value since early July.
Summary written by Upside AI from the original article. Read the source for full details.
Original headline: Cổ phiếu PNJ 'dậy sóng' trước phiên họp cổ đông bất thường
Read the original on VnExpress ↗
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PNJdividendsforeign investorsshareholder meeting
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Related tickers and likely impact
PNJ
▲ Likely positivePhu Nhuan Jewelry
Relevance: low
| Market | Vietnam stocks |
|---|---|
| Exchange | HOSE |
| Sector | Retail |
| Industry | Specialty Retailers |
| Market cap | 9,467 bn VND |
| P/E | 3.9 |
| P/B | 0.70 |
| Close on 10/20/2026 | 19.75 |
| Change that session | +6.76% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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- Weekly market review: Market rebounds at week's end, foreign investors continue to sell steadily
The VN-Index rose 7.56 points to 1,705.91, reclaiming the 1,700 level after 7 straight sessions of decline, with 185 stocks gaining and 121 falling. Foreign investors net sold VND 3,007 billion over all 5 sessions, led by a net sell of VND 417.14 billion in VIC, while MBB drew net buying of VND 230.22 billion. The article also notes that the SSI-SCA fund no longer held VIC at month-end, and that Vietcap warned of significant downside risk to PNJ's 2026–2032 profit forecasts.
- PNJ Surges to Ceiling Price Right Before the Decisive Hour
PNJ shares hit the VND 19,750 ceiling price in the October 20 session while the broader market corrected, with over 16.3 million shares traded and foreign investors net buying nearly VND 70 billion. The stock is still less than half its peak above VND 40,000. Ahead of the extraordinary shareholders' meeting on October 21, PNJ plans a VND 7,071 billion loss provision for its goods exchange policy, assuming 80% of sold goods are exchanged; if fully recognised, its 2026 after-tax result could be a loss of about VND 6,270 billion, and the revenue target falls from VND 48,660 billion to VND 39,057 billion. The company also proposes a private placement of up to 550 million shares and fundraising of up to VND 8,000 billion. In July and August 2026, PNJ posted revenue up 4.5% but an after-tax loss of VND 61 billion, while gross margin fell from about 18.5% to 10%.
- Gold bar and ring prices on the morning of Oct 20: Sharp declines across the board
Domestic gold prices fell sharply on the morning of October 20 across major brands. At 8:30 a.m., SJC listed gold bars at 139–142 million VND per tael (buy–sell), down 1.1 million; by 9:40 a.m. SJC bar prices had rebounded but were still down 1 million from the previous morning. Gold ring prices also dropped at SJC, DOJI, PNJ and Bảo Tín Minh Châu, by between 600,000 and 1.1 million VND per tael. Globally, spot gold slipped 0.13% to $4,136 per ounce at 7 a.m. Vietnam time before edging up to $4,141 by 10 a.m., according to Kitco. Metals Focus's Matthew Piggott said institutional and central bank buying continues to support prices above $4,000 per ounce, while the firm forecasts an average of $5,330 per ounce in 2027.
- Gold Bar and Plain Gold Ring Prices at Midday 19/10 at SJC, PNJ, DOJI, Bao Tin Minh Chau and Bao Tin Manh Hai All Fall Together
At the midday update on 19/10, domestic gold prices fell across the board by 500–800 thousand VND per tael. Early on 19/10, gold bars at SJC, PNJ, DOJI and Bao Tin Manh Hai were quoted at 140.6–143.6 million VND per tael, while Bao Tin Minh Chau was at 138.6–143.6 million. From 16/10, gold businesses must use non-cash payment for buy and sell transactions of 5 million VND or more per day under Decree 390/2026/NĐ-CP. Internationally, gold traded around 4,160–4,180 USD per ounce as investors watched U.S. economic data and the Fed's rate outlook, and the market still leans toward the Fed holding rates at its October 27–28 meeting. S&P Global's preliminary October composite PMI is being watched as a signal of inflation pressure.
- Gold buying and selling from 5 million dong must be paid without cash
From October 16, customers buying or selling gold worth 5 million dong or more in a day must pay by non-cash means, down from the previous 20 million dong threshold. Decree 390/2026/NĐ-CP, signed by Deputy Prime Minister Nguyễn Văn Thắng, also removes conditional business requirements for producing, processing and trading gold jewellery and decorative art, so producers no longer need a State Bank eligibility certificate. Gold bars remain a conditional business requiring a State Bank licence. For firms processing gold for foreign partners, the State Bank may consider raw-gold import licences, while companies must build data systems on gold imports, exports, trading, use and inventory that connect to the regulator.
- Buying and selling gold worth VND 5 million a day must be paid by non-cash means
From October 16, buying or selling gold worth VND 5 million or more in a day must be paid by non-cash means such as bank transfer, QR code, bank card or e-wallet, down from the previous VND 20 million threshold. Decree 390, signed by Deputy Prime Minister Nguyễn Văn Thắng, amends Decrees 24 and 232 and repeals the rules on producing and processing gold jewelry and decorative art, so State Bank of Vietnam (SBV) certificates for such production are no longer required. Pending applications for new or supplementary certificates will be halted, and fees already paid will be handled under regulations. For raw gold imports, processors with foreign processing contracts may be considered for licenses matching their needs, foreign-invested firms receive annual licenses, and all must keep data on imports, sales and inventory connected to the SBV. Import, export and temporary import licenses issued before October 16 remain valid until they expire.
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