Xiangtan Electric Manufacturing reports increased revenue, no profit distribution

Xiangtan Electric Manufacturing (SSE:600416) has released its 2024 annual report, revealing a 3.02% increase in operating revenue, totaling CNY 4,701.21 million. However, the company's net profit attributable to shareholders declined by 16.98% to CNY 248.96 million. Citing a negative distributable profit for the parent company, the board has resolved not to distribute profits for 2024 or implement a share capital increase, a decision awaiting shareholder approval.