External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

Leading full-service brokerage firm in Vietnam. 

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External broker reports(aggregated public sources)

Equity Bottom-Up

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<li>Phu Nhuan Jewelry JSC (PNJ) is one of the leading jewelry manufacturers and retailers in Vietnam, with production capacity of 6mn products/year and 351 retail stores nationwide, as of end-1H22.</li>
<li>PNJ has maintained its resilience throughout the pandemic, thanks to its own competitive advantages (such as making use of digital transformation to enhance the customer experience, and a nationwide retail network with a complete value chain, from design and manufacturing to wholesale and retail).</li>
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<li>Rising incomes in Vietnam, which should result in a rise in consumer discretionary spending, in general, and jewelry demand, in particular;</li>
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<div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>






Phu Nhuan Jewelry JSC (PNJ) is one of the leading jewelry manufacturers and retailers in Vietnam, with production capacity of 6mn products/year and 351 retail stores nationwide, as of end-1H22.
PNJ has maintained its resilience throughout the pandemic, thanks to its own competitive advantages (such as making use of digital transformation to enhance the customer experience, and a nationwide retail network with a complete value chain, from design and manufacturing to wholesale and retail).








Rising incomes in Vietnam, which should result in a rise in consumer discretionary spending, in general, and jewelry demand, in particular;











Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Phu Nhuan Jewelry JSC (PNJ VN/ Trading buy) Maintaining resilience