TBEA achieves steady growth in 2024, plans new securitization

TBEA (SSE:600089) announced its 2024 results and upcoming plans in materials prepared for its Annual General Meeting. The company reported CNY 97.782 billion in revenue and a net profit attributable to shareholders of the parent company of CNY 4.135 billion. Looking ahead, TBEA plans to continue its steady development, targeting CNY 105 billion in revenue for 2025 while controlling operating costs. A key proposal is to authorize a new round of asset-backed securitization of accounts receivable, seeking to raise up to CNY 5 billion to optimize cash flow and repay debt. A cash dividend of CNY 2.50 per 10 shares is proposed, representing 30.35% of the net profit attributable to shareholders. The AGM is set to take place on May 12, 2025.