BAOFENG ENERGY(600989) 国际金融报·2025-03-28 13:22Core Viewpoint - The news highlights the recent developments regarding Party Yanbao, the chairman of Baofeng Energy, including his removal from the National Committee and the company's financial performance and strategic moves in the market [1][2][4][6]. Group 1: Company Leadership Changes - On March 26, the National Committee of the Chinese People's Political Consultative Conference decided to revoke the membership of Party Yanbao, along with two others, from the National Committee [1]. - Party Yanbao has been the chairman of Baofeng Energy since its establishment in 2005 and has significant ownership stakes in the company [2][4]. Group 2: Company Financial Performance - In 2024, Baofeng Energy reported a revenue of 32.983 billion yuan, representing a year-on-year growth of 13.21%, and a net profit attributable to shareholders of 6.338 billion yuan, up 12.16% from the previous year [6]. - The company has distributed approximately 12.3 billion yuan in cash dividends from 2019 to 2023, with a proposed dividend of 0.4598 yuan per share for minority shareholders in 2024, amounting to a total of 3.007 billion yuan, which is 47.44% of the net profit [6]. Group 3: Strategic Developments - Baofeng Energy's recent strategic move includes the acquisition of the Baofeng Yunen steam comprehensive pipeline project for 492 million yuan, which is also controlled by Party Yanbao [4][5]. - The company faced scrutiny from the Shanghai Stock Exchange regarding a related party transaction and was asked to clarify the rationale behind the upfront payment for the project [5].