Tianwei Baobian reports revenue surge; nixes 2024 dividend

Baoding Tianwei Baobian Electric (SSE:600550) announced a 36.92% surge in revenue to CNY 4.74 billion in its 2024 annual report, which is attributable to a rise in major high-voltage projects and optimized order structure. Net profit attributable to shareholders increased 146.80% to CNY 96 million. However, the company’s board has decided not to distribute profits for 2024, due to a negative distributable profit position of CNY -544.97 million at year end, nor is a stock dividend being pursued, as revealed in a separate filing.