According to the Ho Chi Minh City Stock Exchange (HoSE), Phu Nhuan Jewelry Joint Stock Company (PNJ) has just announced the share transactions of two insider executives.

Specifically, Mr. Le Tri Thong, Vice Chairman of the Board of Directors and General Director, registered to sell 500,000 shares out of his current holdings of over 1.7 million units. After the transaction (expected from October 14th to November 12th), Mr. Le Tri Thong will hold over 1.2 million units, equivalent to 0.36%, compared to the current 0.5%.

Ms. Dang Thi Lai, a member of the Board of Directors and senior financial director, has registered to sell 600,000 shares out of her current holdings of over 2.46 million shares. The transaction is expected to take place between October 14th and 30th. If the transaction is successful, Ms. Lai will hold over 1.86 million shares, equivalent to 0.55%, compared to her current 0.73%.

Previously, on October 2nd, the Banking Inspection and Supervision Agency issued a decision to fine PNJ 1.34 billion VND. This was the result of a joint inter-agency inspection by the Government of gold trading businesses nationwide from May 24th to September 10th.

PNJ has just finalized the second dividend payment for 2023 at a rate of 14% in cash (equivalent to VND 1,400 per share). Previously, in April, PNJ paid the first dividend of 6% in cash. PNJ expects to pay a dividend of 20% in 2024. The revenue plan is VND 37,000 billion and the profit plan is VND 2,100 billion, representing increases of 12% and 6% respectively.

In July, PNJ's profits hit a record low, reaching only 51 billion VND, a decrease of half compared to the same period last year.

In the first eight months, PNJ recorded nearly VND 27,000 billion in net revenue and nearly VND 1,300 billion in after-tax profit, representing increases of 27% and 3% respectively compared to the same period last year.

At the close of trading on October 9th, PNJ shares fell by 400 VND to 94,400 VND/share, compared to 108,000 VND on August 22nd.

Gold prices surge and the breakthrough of the Cao Thi Ngoc Dung family's gold trading business: The gold trading business chaired by Ms. Cao Thi Ngoc Dung has experienced explosive growth in recent years, as gold prices continue to rise and profits from the jewelry segment are impressive.