Changchun High-Tech achieves $1.47bn cash distribution, $420m buyback

Changchun High & New Technology Industry Group (SZSE:000661) today announced its 2024 annual results, showcasing a commitment to shareholder returns despite a reported 7.55% decrease in revenue, reaching CNY 13.47 billion. The results included a proposed cash dividend of CNY 26 per 10 shares, totaling CNY 1.05 billion, and a share repurchase of CNY 420 million. These shareholder payments account for 56.81% of the year's net profit. The company’s net profit attributable to shareholders was CNY 2.58 billion for the year, and announced an R&D expenditure increase of 11.20% from the previous year. In other news, the National Medical Products Administration (NMPA) approved a new 66µg(900IU) dosage for their recombinant follicle stimulating hormone for fertility treatments, and the Company has determined to terminate its "high and New Dingzhuan" transfer equity. In total, these operations are expected to benefit existing shareholders.