subject business ethics topic analysis on pnj jewelry company

Main business fields:Producing and trading jewelry, fashion accessories, souvenirs.. Name: Phu Nhuan Jewelry Joint Stock Company.2.. Producing and trading gold, silver, gemstone jewelry,

NATIONAL ECONOMICS UNIVERSITY

-*** -SUBJECT: BUSINESS ETHICS

Topic: Analysis on PNJ Jewelry Company

Class: Business Analytics 64 Group: 11

Team members:

Nguyễn Hồng AnhPhạm Linh ChiLê Trọng ĐôngChu Thị Thu HàTrần Đình KhangMai Phương Linh

Hanoi, 2023

III Board Of Directors 6

IV Supervisory Board 8

V External Auditors 9

VI Annual General Meeting 9

VII Conclusion 10

A OVERVIEW

Established in 1988, PNJ has become the leading jewelry manufacturer andretailer in Asia, with more than 350 retail stores nationwide Main business fields:Producing and trading jewelry, fashion accessories, souvenirs Trading watches andgold bars.

Figure 1: History of formation and development of PNJ.

1 Name: Phu Nhuan Jewelry Joint Stock Company.2 Type of company: Joint stock company.

3 Chairman of the Board of Directors of PNJ: Cao Thi Ngoc Dung.4 Slogan: Faith and Style (Niem Tin va Phong Cach)

5 Main business sectors:

a Producing and trading gold, silver, gemstone jewelry, fashion accessories,and souvenirs Trading in watches and buying and selling gold barsb Diamond, gemstone and precious metal testing services

c Real estate business

capital markets, and allocating capital to expand business operations throughout theGroup.

 Board of Directors: Includes the President and Vice Presidents, responsible

for managing and making strategic decisions for the company.

 Functional departments: Including departments such as Accounting

Department, Finance Department, Sales Department, Marketing Department,Human Resources Department, etc Each department has separate tasks andcontributes to the overall operations of the company.

 Production units: Includes units responsible for jewelry production, quality

management and production control.

III Board Of Directors.

- Ngoc Dung Thi Cao (Chairwoman)

- Thong Tri Le (Vice Chairman & General Director)- Lai Thi Dang (COO, Chief Financial Officer & Director)

- Le Huu Hanh (Member)

Ngoc Dung Thi

Degree inEconomics from the

University ofEconomics Ho Chi

Minh City

20+ years of experience in the jewelry industry, including various positions atPNJ such as General Director

N/A 0.15% IndependentDirector

Thong Tri Le Male

Degree inEngineering fromHo Chi Minh CityUniversity of

30+ years of experience in the jewelry industry, including various positions atPNJ such as Vice Head of Sales Department and Vice General Director

N/A 0.21% ExecutiveDirector

Lai Thi Dang Female

Degree inAccounting fromHo Chi Minh City

University ofEconomics

30+ years of experience in finance and accounting, including various positions atPNJ such as Chief Accountant and Chief Accountant cum Director of Finance Accounting Department

N/A 0.07% ExecutiveDirector

Le Huu Hanh Male Degree inChemistryEngineering and

Diamond andGemstones TestingExpert from Ho Chi

Minh CityUniversity of

40+ years of experience in the jewelry industry, including various positions atPNJ such as Printing technician, Sales staff, Director of PNJ Ha Noi Branch, Vice Head of Sales Department, Vice General Director, and Director of

N/A 0.05% IndependentDirector

- PNJ currently has two subcommittees under the Board of Directors:

+ Audit committee: The audit committee is responsible for overseeing the

company's financial reporting, internal controls, and risk managementprocesses.

 Chairman: Le Huu Hanh, independent member Member: Nguyen Thi Thuy Nga, independent member

+ Compensation and Nominating Committee: The Compensation and

Nominations Committee is responsible for making recommendations to theBoard of Directors on matters related to executive compensation, boardmember nominations and corporate governance

 Chairman: Lai Thi Dang, executive member Member: Le Huu Hanh, independent member

IV Supervisory Board.

According to the annual report 2022, PNJ does not have a supervisory board,instead there include board of directors; board of management; audit committee; thestrategy-finance subcommittee; human resources and remuneration subcommittee;environmental-social-governance subcommittee However, back to 2 years ago, inthe annual report 2020, there did include a supervisory board with 3 members.

V.External Auditors.

The big 4 accounting firms have rotated being PNJ’s auditor over the pastdecade, from KPMG, EY, to Deloitte and current PwC There has been no qualifiedopinion from these auditors so far Also, PNJ has not had any material accounting,tax, or regulatory issues in the past 5 years In the Audit committee, all 3 membersare non-executive members and the Chairman of the Audit committee is anindependent member of BOD.

VI Annual General Meeting.

- Time: 27.04.2023

- Earnings before tax: 2.312.327.000.000 VND

- Earnings after tax: 1.810.692.000.000 VND

=> Both EBT and EAT increased compare to figure in 2022 (+ 80.8% and + 76.0% respectively)

According to the provisions of the Enterprise Law 2020, the Annual GeneralMeeting of Shareholders of a joint stock company must be held within 6 monthsfrom the end of the fiscal year => PNJ organized the 2023 Annual General Meetingof Shareholders on April 27, 2023, which is 6 months before the official deadline bylaw.

VII Conclusion.

PNJ (Phu Nhuan Jewelry) has implemented a comprehensive systemcomprising supply chain management, production and manufacturing, customerrelationship management, and financial management This system enables PNJ tooptimize operations, deliver high-quality products, and maintain customersatisfaction By efficiently managing resources and utilizing advanced technologies,PNJ has achieved a competitive edge in the jewelry industry and sustained growth.The company's commitment to continuous improvement and innovation within itssystem reinforces its success in meeting customer demands and driving financialgrowth.