Listed firms pay more cash dividends: association

CASH dividends that listed firms planned to dish out continued to rise in 2021 as regulators urged listed firms to reward investors.

China’s A-share listed firms proposed cash dividends of over 1.5 trillion yuan (US$225 billion), up 1.4% and 13.6% compared with actual dividends paid in 2020 and 2019, respectively, the China Association for Public Companies said yesterday. So far, a total of 3,170 firms listed on the Shanghai and Shenzhen exchanges have disclosed their 2021 plans for dividend payouts to stock investors, rising 4.9% year on year, data from the association showed.

Energy supply generally stable this year: official

THE energy supply in China has been generally stable and in good order this year despite rising external pressure, an official with the country’s top economic planner said Tuesday.

“We are confident and can guarantee a stable and orderly energy supply for the upcoming summer power peak,” said Zhao Chenxin, deputy director of the National Development and Reform Commission. By the end of April, China’s total installed power generation capacity reached about 2.41 billion kilowatts, which is expected to further increase to 2.45 billion kilowatts before the summer, he told a press briefing.

BYD in talks to buy six lithium mines in Africa

BYD Co. is in talks to buy six lithium mines in Africa with total resources of lithium oxide at 2.5% grade estimated at more than 25 million tons, The Paper reported Tuesday, quoting sources.

It will be the Shenzhen-based company’s first mass purchase of lithium ore, the report said. The locations of the mines and their sales prices were not mentioned. BYD said it would make no comment on this report when contacted by reporters yesterday. Based on BYD’s goal of selling 1.5 million electric vehicles this year, the acquisition will supply the company with sufficient lithium ore to ensure production for the next 10 years.

WM Motor weighs US$1 billion HK IPO

ELECTRIC vehicle manufacturer WM Motor Holdings Ltd. is considering raising about US$1 billion in a Hong Kong initial public offering (IPO), Bloomberg News reported yesterday.

The company could launch the share sale before the end of the year, said the report. Deliberations are ongoing and details including size and timeline could change, the report said. The firm filed pre-listing documents with the Hong Kong exchange yesterday.