Editor’s Note
**Editor’s Note:** PNJ takes a critical step toward rebuilding trust by commissioning an independent international review of its diamond quality and internal processes, following a damaging smuggling scandal.
Phu Nhuan Jewelry Joint Stock Company (stock code: PNJ) has announced a resolution to hire a reputable international organization to conduct an independent assessment of diamond quality and internal processes related to its business operations.
Simultaneously, the company has engaged an independent accounting firm to review the entire diamond-related operational process, from import and production to diamond trading, including gemstone products set with diamonds.
In addition, the company announced it would collaborate with an independent professional consulting firm to conduct a comprehensive evaluation of its risk management system. The PNJ board also approved a plan to hire a tax audit firm and provide tax consulting services for the company in 2025.
PNJ’s actions come amid an ongoing investigation into a case involving the smuggling of 28,000 diamonds. Consumer trust in diamonds has plummeted following the indictment of former director Dang Ngoc Thao, and subsequently another employee of P-Lab, PNJ’s diamond appraisal company.
![[사진] 베트남 공산당 중앙위원회 위원들이 호찌민 주석 묘소를 방문하고 있다.](https://vphoto.vietnam.vn/thumb/1200x675/vietnam/resource/IMAGE/2026/07/20/1784515255262_vna-potal-ban-chap-hanh-trung-uong-dang-vao-lang-vieng-chu-tich-ho-chi-minh-8898853-jpg.webp)
PNJ has repeatedly issued clarifications to reassure the public. The company maintains that the violations in question are the personal legal responsibility of CEO Dang Ngoc Thao. It also stated that all diamonds distributed by PNJ are inspected at P-Lab under ISO quality management procedures and cross-checked against GIA quality standards. The company added that it keeps records to provide technical specifications for each diamond upon request.
On the stock market, PNJ shares have performed very negatively. Following the incident, the stock price continuously plunged, hitting the floor for four consecutive trading sessions. There were only two sessions of gains, including an unexpected ceiling rise on July 14.
Despite the chairman’s reassuring statements, investors continued to sell PNJ shares. The company’s management has repeatedly taken measures to “rescue” the stock price, announcing the buyback of millions of shares to protect shareholder interests. However, PNJ’s stock price has not improved significantly.
