Changhong Electric announces dividend, share buyback adjustment, and performance outlook

Sichuan Changhong Electric has announced its 2024 annual equity distribution plan, with a cash dividend of RMB0.05 per share (tax inclusive), payable on July 18, 2025.

Following this dividend, the company will adjust its share buyback program's upper price limit to RMB13.95 per share, effective July 18, 2025. This adjustment is a standard procedure to account for the dividend payout.

Furthermore, Changhong Electric projects a significant increase in its 2025 interim net profit, expecting it to rise between 56.53% and 103.59% year-on-year, primarily driven by an increase in fair value of its investments. However, the profit from non-recurring items is anticipated to decline.

In other news, the company's board approved a donation of RMB2 million worth of video conferencing systems to Sedar County and a capital increase for its subsidiary, Sichuan Changhong Real Estate Co., Ltd. The company is also involved in ongoing litigation regarding a previous contract dispute.