Fenghua High-Tech proposes CNY 172.12m dividend, considers share transfer

Guangdong Fenghua High-Tech (SZSE: 000636) announced plans for a cash dividend of CNY 172.12 million for the year 2024, distributing CNY 1.50 (tax included) per 10 shares, on a base of 1,147,490,419 shares. The proposal awaits shareholder approval at the 2024 annual general meeting. Separately, the company's board approved the sale of its 21.5041% stake in Guangdong Fenghua New Energy, a related party, for a minimum price of CNY 84.59 million through a public auction process, a move designed to optimize asset allocation and focus on core business. A filing shows that Guangdong Electronic Information Industry Group Co. Ltd. emerged as the winning bidder. These planned moves come as the company reports a net profit of CNY 337.37 million, and sets a revenue target of CNY 4.94 billion for 2024.