Desay SV adjusts accounting amid strong growth, shareholder returns

Huizhou Desay SV Automotive (SZSE:002920) announced a change in accounting policies related to quality assurance provisions, effective January 1, 2024, to align with updated guidelines from the Ministry of Finance. Simultaneously, the company’s board proposed a cash dividend of RMB 1.20 per 10 shares, totaling RMB 665.94 million and representing 33.22% of the year’s net profit, for shareholder approval at the upcoming annual meeting. Further, the company plans to convene an annual general meeting on 2024 financial results.