VV Food & Beverage: Net profit soars 96% in 2024
VV Food & Beverage (SSE:600300) announced a substantial 96.26% year-over-year increase in net profit attributable to shareholders, reaching CNY 411.14 million for fiscal year 2024, according to materials released for their annual shareholders meeting. The company reported that profit surged despite a 9.40% decline in operating revenue, which totaled CNY 3.66 billion. This surge in profitability can be attributed to strategic optimization of the supply chain, product structure, and market channel layout, resulting in higher product gross margins, as well as gains from the demolition of a subsidiary, Jinan Weiwei Dairy Co. Additionally, The Board recommended a cash dividend of CNY 0.128 per ten shares, totaling approximately CNY 206.99 million, representing 50.35% of the net profit attributable to shareholders. Shareholders will also vote on a proposed CNY 1.45 billion in guarantees for subsidiaries and plans for entrusted wealth management with up to CNY 1 billion in idle funds.
This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com
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