Fangda Special Steel's profit distribution plan advances green initiatives

Fangda Special Steel Technology (SSE: 600507) announced a plan to distribute a cash dividend of RMB 0.33 per 10 shares, totaling RMB 74.68 million, based on its 2024 performance. This decision comes despite a challenging year where the company's revenue decreased by 18.67% to RMB 21.56 billion and net profit fell by 64.02% to RMB 247.85 million. The steelmaker is proceeding with significant energy-saving and environmental protection investments, such as new coking equipment, reflecting a commitment to sustainable practices. The dividend proposal, along with details on related-party transactions and internal controls, still needs shareholder approval.