BL(SZ:002592) Zheng Quan Zhi Xing·2025-03-26 11:17Core Viewpoint - The company, Nanning Bailing Technology Co., Ltd., plans not to distribute profits for the fiscal year 2024 due to negative retained earnings in both consolidated and parent company financial statements [1][2][3]. Summary by Sections 1. Review Procedure - The company's board of directors and supervisory board approved the proposal to not distribute profits for 2024 during meetings held on March 26, 2025. This proposal will be submitted for approval at the 2024 annual shareholders' meeting [1]. 2. Basic Situation of Profit Distribution - The audited consolidated net profit attributable to shareholders for 2024 is 69.98 million yuan, while the parent company's net profit is -136.28 million yuan. As of December 31, 2024, the consolidated retained earnings are -434.28 million yuan, and the parent company's retained earnings are -661.22 million yuan [1][2]. 3. Cash Dividend Plan - The company will not distribute cash dividends, issue bonus shares, or increase capital through reserves for 2024 due to the absence of distributable profits as per the Company Law and its articles of association [2][3]. 4. Reasonableness of Not Distributing Dividends - According to the Company Law, profits must first cover previous losses before any legal reserve can be allocated. The company’s net profit for 2024 has been fully utilized to offset losses, thus not meeting the conditions for profit distribution [3]. 5. Measures to Enhance Investor Returns - The company plans to improve operational performance and profitability by increasing revenue, expanding its business in the new energy vehicle parts sector, reducing unnecessary expenses, and enhancing cash flow management [4].