FIRST TRACTOR(SH:601038) Zheng Quan Zhi Xing·2025-03-27 10:49Summary of Key Points Core Viewpoint - The company plans to distribute a cash dividend of RMB 0.2995 per share for the fiscal year 2024, based on the total share capital as of the dividend record date, which is subject to change if the total share capital varies before that date [1][3]. Profit Distribution Plan - The company reported a net profit attributable to shareholders of RMB 922.02 million for 2024, with accumulated undistributed profits amounting to RMB 2.757 billion as of December 31, 2024 [1]. - The total cash dividend distribution is calculated based on the total share capital of 1,123,645,275 shares, resulting in a total cash dividend of approximately RMB 336.53 million for 2024 [2][3]. - The profit distribution plan is subject to approval at the company's 2024 annual general meeting [2]. Historical Cash Dividends - The total cash dividends for the last three fiscal years were RMB 358.89 million in 2023, RMB 253.61 million in 2022, and the cumulative cash dividends over the last three years amounted to RMB 949.03 million [2][5]. - The cash dividend payout ratio for the last three years was above 30% of the average annual net profit, indicating a consistent return to shareholders [5]. Decision-Making Process - The board of directors unanimously approved the profit distribution plan and the proposal to authorize the board to decide on the mid-term profit distribution for 2025 during a meeting held on March 27, 2025 [5]. - The supervisory board confirmed that the profit distribution plan aligns with the company's articles of association and regulatory guidelines, ensuring the interests of minority investors are protected [5].