Gongniu Group proposes dividend, share increase, new investment amid growth

Electrical appliance giant Gongniu Group (SSE:603195) announced a plan to distribute a cash dividend of CNY3,101,181,160.80 and increase share capital through a 4-for-10 bonus share issue from capital reserves. This proposal follows a year of strong performance, with net profits attributable to shareholders rising 10.39% to CNY4,272,204,565.03 and is a part of a comprehensive strategy to improve shareholder returns and propel future growth. The company also authorized investments into new areas with a ceiling of CNY15 billion. The increased capital will support the expansion into new business. The firm plans to allocate CNY4.55 million for the construction with a localized management and has been operating in new markets in 2024, including Europe.