Zhuzhou Smelter skips dividend, plans stock offering; shares react

Zhuzhou Smelter Group (SSE:600961) announced it will not distribute a dividend for fiscal year 2024, despite reporting improved financial results. This decision aligns with the company's focus on strategic investments and bolstering its financial position. It also disclosed plans to seek shareholder approval for a share issuance under simplified procedures, seeking to raise no more than CNY 300 million, or 20% of the company’s net assets, to fund key projects and increase working capital. Funds from the offering will not be used for speculative investment. The decisions on the dividend and equity offering must still be approved by shareholders.