Core Viewpoint - The chairman of Zhejiang Kang En Bei Pharmaceutical Co., Ltd. proposed a cash dividend of 1.50 yuan per 10 shares for the fiscal year 2024, aiming to enhance shareholder returns and share the company's operational achievements [2][3]. Group 1: Proposal Details - The proposal is based on the company's confidence in the Chinese traditional medicine and health industry, and it aims to maintain the interests of all shareholders while ensuring the company's long-term development [2]. - The distribution will be calculated based on the total share capital after deducting shares held in the repurchase account, with the total amount adjusted if the share capital changes before the dividend distribution date [2][4]. Group 2: Board's Response - The board of directors has previously approved a share repurchase plan using 200 million to 400 million yuan, completing the repurchase of approximately 63.58 million shares at a total cost of about 299.92 million yuan [3]. - The board considers the chairman's proposal reasonable and feasible, planning to draft a profit distribution proposal after the 2024 annual financial report audit [3]. Group 3: Future Considerations - The company anticipates an increase in total share capital due to the stock option incentive plan, which may affect the dividend distribution proposal [4].

Core Viewpoint - Kemin Food, known as the "first stock of hanging noodles," reported a turnaround from loss to profit in its 2024 annual report, despite a decline in revenue and significant financial pressures [1][2][3]. Revenue Performance - Kemin Food achieved a revenue of 4.567 billion yuan in 2024, a decrease of 11.91% compared to the previous year, marking the second consecutive year of revenue decline since 2008 [2]. - The company’s revenue in 2023 was 5.184 billion yuan, reflecting a 14.42% year-on-year decrease [2]. Profitability - The net profit attributable to shareholders was 146 million yuan in 2024, a significant recovery from a loss of 65.65 million yuan in the previous year, indicating a successful turnaround [1][2]. Business Segments - Despite the overall profit, Kemin Food's newly established pig farming business continues to incur losses, with a reported loss of 94.71 million yuan in 2024 from its subsidiary, Akesu Xingjiang Muge Food Co., which generated a revenue of 784 million yuan [2]. - The traditional rice and noodle processing segment showed growth, contributing to the company's overall profitability [2]. Dividend Policy - Kemin Food announced a dividend plan of 156 million yuan, which exceeds the net profit attributable to shareholders for the year, raising concerns about financial sustainability [3]. - Including a share buyback of 136 million yuan, the total distribution amounts to 292 million yuan, representing 199.90% of the net profit [3]. Financial Health - As of the end of 2024, Kemin Food had cash and cash equivalents of only 358 million yuan, while interest-bearing liabilities exceeded 2 billion yuan, indicating significant financial pressure [3]. - The company raised 94.29 million yuan in May 2024 to supplement working capital and repay interest-bearing debts [3]. Executive Compensation - The salary of Chairman and General Manager Chen Hong increased to 699,300 yuan in 2024, up by 26,010 yuan from 2023, reflecting a substantial raise within a year of taking office [4]. - Vice Chairman Chen Hui's salary also rose to 581,100 yuan, an increase of 81,100 yuan [4].