Beijing Jingneng Clean Energy Co Ltd (JNCEC) saw its stock price surge 7.18% in pre-market trading on Tuesday, following the release of impressive financial results for the fiscal year and an announcement of increased capital for its finance arm.
The clean energy company reported robust financial performance, with an operating income of RMB 20,560 million and a net income of RMB 3,420.9 million for the fiscal year. The company's revenue reached RMB 20,561.7 million, while pretax profit stood at RMB 4,280 million. These strong figures have likely boosted investor confidence in JNCEC's growth prospects and financial stability.
Adding to the positive sentiment, JNCEC announced that the registered capital of BEH Finance, its financial services subsidiary, will be increased from RMB 5 billion to RMB 10 billion. This substantial capital injection suggests the company's commitment to expanding its financial operations and potentially exploring new growth opportunities. Furthermore, the company has recommended a final dividend of RMB 14.30 cents per ordinary share, rewarding shareholders for their investment. The combination of strong financial results, increased capital allocation, and shareholder returns appears to have driven the significant stock price appreciation.
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