Shares of Anhui Conch Material Technology Co Ltd (02560.HK) surged 7.24% during Wednesday's trading session, following the company's announcement of positive financial results and a final cash dividend.
The building materials manufacturer reported a net profit of RMB125.64 million for the year 2024, along with a revenue of RMB2,384.15 million. In a move that likely pleased investors, the company also declared a final cash dividend of RMB0.17 per share.
The strong financial performance and the company's decision to return value to shareholders through dividends appear to have boosted investor confidence, driving the significant uptick in the stock price. This positive sentiment reflects the market's approval of Anhui Conch Material Technology's financial management and growth prospects in the competitive building materials sector.
