Xinhu Zhongbao reports reduced profit, allocates funds, considers joint ventures

** Xinhu Zhongbao (SSE:600208) reports a slight dip in revenue and a more pronounced decrease in net profit for FY2024, despite strategic initiatives and governmental support. While FY24 revenue reached CNY 16.49 billion, a 4.21% decrease, net profit saw a larger decrease, 9.59%, to CNY 2.01 billion, attributed to increased asset impairment losses. Despite the revenue dip, the company’s proposed non-distribution of profits aims to retain capital for future stability and developments.