Jinneng Coal proposes $176m dividend despite lowered profits

** Jinneng Holding Shanxi Coal Industry Co., Ltd. (SSE:601001) has announced a plan to distribute a cash dividend of CNY 1,263,643,500.00 (approximately $176 million USD) to shareholders, amounting to CNY 7.55 per share, despite reporting a decrease in net profits. This decision comes after a year in which the company faced a 2.01% decline in revenue. According to its 2024 annual audit report, the company's net profit attributable to shareholders reached CNY 2,808,059,608.87, down from last year's CNY 3,300,812,740.80. The company’s board of directors emphasized a commitment to balancing shareholder returns with its long-term growth strategies. Jinneng also stated that, going forward, it will focus on clean and efficient coal utilization technologies to enhance its bottom line. In order to support these activities, research and development expenditures have been budgeted.