Hoshine reports strong 2024 results, future dividend plans

Hoshine Silicon Industry (SSE:603260) announced its 2024 financial results alongside plans for a substantial cash dividend, even as an audit revealed minor technical issues in capital management. The company reported total revenue of CNY 26.69 billion and net profit attributable to shareholders of CNY 1.74 billion. Despite a challenging economic environment, Hoshine has proposed a cash dividend of CNY 0.45 per share. The total cash dividend payout will account for 59% of net profits. Hoshine noted it had engaged its auditor, Tianjian CPA, to rectify the said deficiencies in internal controls. Additionally, Tianjian CPA's special audit statement on capital transactions confirmed that Hoshine executives did not engage in malfeasance, fraud, and/or misappropriation of company funds. Looking ahead, the company expects to allocate CNY 5.2 billion in capital expenditure in 2025, but may change its allocation depending on market conditions. Finally, Tianjian's audit also confirmed that the firm has already received the necessary registration for the practice, and Hoshine intends to have it verify the firm's 2024 accounts for years to come.