HC SemiTek foregoes 2024 dividend amidst losses, focuses on growth

Beijing-based HC SemiTek Corporation (SZSE:300323) announced it will not distribute a cash dividend, send stock dividends, or increase capital reserves for the fiscal year 2024. This decision comes despite a reported revenue increase of 42.11% to 4,125,942,057.43 yuan. However, with the net profit attributable to shareholders at -611,169,483.69 yuan, and an accumulated deficit of 1,636,056,185.48 yuan, the company states this move is essential for securing its operational needs and future strategic development.