Jiangnan Chemical boosts shareholder returns despite profit decline

Anhui Jiangnan Chemical Industry (SZSE:002226) has announced a plan to distribute a cash dividend of CNY172.18 million, or CNY 0.65 per 10 shares, to shareholders despite a reported decrease in net profits for the fiscal year 2024. This proposal balances immediate shareholder returns with long-term business objectives, specifically reinvestment into strategic projects. At the same time, Jiangnan Chemical has been actively managing its assets, recently divesting from a subsidiary and planning to improve internal controls. In a move to further streamline operations and strengthen management control, the company's board approved a plan to transfer its 49% stake in a key subsidiary to a wholly-owned entity. This transaction aligns with the company's strategic focus on optimizing its assets.