Star Lake Bioscience proposes dividend, hedges currency risk

Star Lake Bioscience (SSE:600866) announced plans to distribute a cash dividend of CNY 0.38 per share to shareholders, totaling approximately CNY 631.36 million, representing 66.94% of the company's net profit attributable to shareholders for the year 2024. The company has confirmed that the proposed profit distribution does not affect other risk warning situations. As a proactive measure to manage foreign exchange volatility, the company plans to engage in financial derivative transactions with a notional principal amount not exceeding USD 1.05 billion, primarily foreign exchange derivatives, subject to shareholder approval. Concurrently, the company reported identifying potential asset impairments leading to expected CNY 126.33 million in asset write-downs. These include mainly a CNY 91.91 million impairment on the long-term equity investment of its subsidiary Sichuan Jiuling Pharmaceutical.