China Hongqiao's profit surges, announces dividend hike

China Hongqiao Group (HKEX: 1378) reported a substantial increase in its financial performance for the year ended December 31, 2024, with revenue rising 16.9% to RMB156.17 billion and net profit attributable to owners increasing 95.2% to RMB22.37 billion. Gross profit surged by 101.2% to RMB42.16 billion, driven by higher aluminum and alumina prices and increased sales volumes. The company's board has proposed a final dividend of HK102 cents per share, bringing the total dividend for 2024 to HK161 cents per share, a significant increase from HK63 cents per share in 2023.