CQME profits surge 42% in 2024, eyes growth in 2025

** Chongqing Machinery & Electric (HKEX: 2722) reported a significant surge in profits for the year 2024, with profit attributable to shareholders rising approximately 42.0% to RMB431.3 million. Revenue increased by 10.7% to approximately RMB8,919.2 million. The company attributes this performance to successfully navigating increased industry competition and embracing new development strategies. Looking ahead to 2025, CQME plans to focus on green transformation, innovation, and digital empowerment, projecting to fully implement “five reshaping” work requirements, improve efficiency, and consolidate its core industries for high-quality development. Basic earnings per share increased to RMB0.12. The company proposes a final dividend of RMB0.035 per share.