Antong Holdings reports increased earnings, plans no dividend

Antong Holdings (SSE:600179) reported a net profit attributable to shareholders of 610.44 million RMB for the year 2024, an increase of 7.53% compared to 2023, according to its annual audit report. Revenue also saw a modest rise of 2.8% to 7.55 billion RMB. Despite the improved financial performance, the board has recommended not distributing a cash dividend or transferring funds from capital reserves, citing a negative retained earnings balance at the parent company level.