Chongqing Machinery & Electric profit jumps 42%

Chongqing Machinery & Electric (HKEX: 2722) reported a 42% increase in profit attributable to shareholders, reaching approximately RMB431.3 million for the year ended December 31, 2024, compared to RMB303.6 million in 2023. Revenue increased by 10.7% to RMB8,919.2 million. The company attributed its performance to active integration into the new development pattern, technological innovation, and market expansion. The clean energy equipment sector saw revenue growth of 11.3%. The high-end smart equipment segment also experienced an 8.6% revenue increase. The company's board has proposed a final dividend of RMB0.035 per share, subject to shareholder approval. The financial targets are dependent on the integration and further success of digital advancements, supply chain security and the integration of key businesses.