Jereh Petroleum adjusts accounting, plans dividend and share increase

** Yantai Jereh Oilfield Services Group (SZSE:002353) has announced a series of strategic financial moves including adjusting its accounting policies to adhere to updated standards from China's Ministry of Finance. These changes are expected to enhance the objectivity and fairness of the company’s financial reporting without significantly impacting its financial status. Additionally, the board has proposed a cash dividend of CNY706.46 million and a share increase, subject to shareholder approval at the AGM on May 7, 2025. It has also greenlit a plan to seek bank credit facilities up to CNY20 billion and guarantees for clients and subsidiaries. These moves signal a focus on both shareholder returns and strategic growth, while adhering to stringent financial oversight and transparency standards.