Jiangsu Shagang's 2024 report: Profitability down amid green transition

Jiangsu Shagang (SZSE:002075) reported a 2024 net profit of CNY 162.58 million, a 27.75% decrease from 2023. Despite the profit dip, the company plans to maintain shareholder returns with a cash dividend of CNY 0.025 per share. The move underscores the company's commitment to rewarding investors amid a challenging financial climate, marked by "three highs and three lows" in the steel industry, according to the company's annual report, which also noted that the company plans to continue green transition with continued investments in green technology and new projects to promote energy efficiency and ensure responsible use of resources to promote economic, environmental and social benefits.