Shandong Hi-Speed Reports Profit Rise, No Dividend

Shandong Hi-Speed New Energy Group Limited (HK:1250) has released an update.

Shandong Hi-Speed New Energy Group Limited reported a 13% increase in profit for the first half of 2024, reaching HK$399.9 million, up from the previous year’s HK$355.4 million. Despite a decrease in finance costs due to strategic refinancing, the company’s earnings per share dropped from HK16.00 to HK13.31 cents. The firm did not declare an interim dividend for the period, maintaining a strong financial position with a reduced debt ratio and ample cash reserves for future development.

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