Rongsheng Petrochemical posts solid 2024, prioritizes shareholder returns

Rongsheng Petrochemical (SZSE:002493) reported a steady revenue of CNY326.48 billion for 2024, slightly up 0.42% from the previous year, but net profits attributable to shareholders decreased 37.44% to CNY724.48 million. As a sign of confidence, the board has proposed a cash dividend of CNY0.10 per share, totaling CNY957.23 million, and has authorized the cancellation of 136,082,746 repurchased shares, contingent upon shareholder approval at the AGM, in accordance with regulatory requirements. This will lead to the reduction of the total share capital to 9,989,442,254 shares, and the amendment to the articles of association.