According to the report PNJ has just announced, the business results for the first 7 months of 2024 are positive with both revenue and profit growing. Specifically, after 7 months, net revenue and profit after tax increased by 30.8% and 4% respectively over the same period. This means that PNJ has completed 66.3% of the net revenue plan for the whole year of 2024.

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PNJ Business Report

PNJ's business activities grew steadily in all channels. Accumulated retail jewelry revenue in the first 7 months of 2024 increased by 14.6% over the same period, thanks to the diversification of new collections, in line with market trends and meeting the increasing needs of customers. Creative marketing campaigns and attractive promotions have contributed to boosting sales and increasing customer preference for the brand. Wholesale jewelry revenue in the first 7 months of 2024 increased by 24.7% over the same period thanks to expanding the customer network.

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PNJ continuously diversifies new collections to suit market trends. Photo: Viet Hung

PNJ's average gross profit margin decreased slightly to 16.4% (down from 18.7% in the same period in 2023) due to changes in revenue structure of each business segment. In addition to stable profit margins of retail and wholesale channels, PNJ continues to implement measures to optimize resources and improve operational capacity to maintain average gross profit margin at a positive level.

In addition, in July 2024, PNJ implemented many activities to promote sales and increase brand awareness such as: Re-communicating the PNJ Betel and Areca Nut Collection, a stepping stone for the upcoming wedding season; Implementing a sales promotion program with the message "Smart beauty - With thousands of incentives".

In addition, the company was also honored to receive the international award "Best Retail Marketing" for the third time at the Marketing Events Awards 2024 in the Asia- Pacific region with the campaign "Journey of Jewelry Across Vietnam 2023". The company was also honored in 3 categories E (Environment), S (Society) and G (Governance) at the TOP50 CSA 2024 sustainable development award, announced by Nhip Cau Dau Tu newspaper.

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Ms. Tran Phuong Ngoc Thao - Vice Chairman of the Board of Directors and Chairwoman of the ESG Committee of PNJ represented the company to receive the award.

As of the end of July 2024, PNJ has 409 stores nationwide. Including 400 PNJ stores, 5 Style by PNJ stores, 3 CAO Fine Jewellery stores and 1 Wholesale Center.

Vinh Phu