Summary by Moomoo AI
China Shenhua Energy Co., Ltd. (“China Shenhua”) issued a voluntary announcement announcing the launch of the “Promote Efficiency and Return” action aimed at improving the quality and operational performance of the company and positively rewarding shareholders. The company, with the support of the National Energy Investment Group Limited, will continue to advance its work in seven areas, including energy security, and plans to achieve 3.161 billion tons of commodity coal production, 4.353 billion tons of coal sales and 2,163 billion kWh of electricity generation by 2024. Shenhua of China has pledged to increase the cash dividend ratio to no less than 60% and has completed surplus cash distributions from 2020 to 2022, totaling more than RMB 4,021 billion. The Company will also establish a sound market value management system and strive to become the world's leading integrated energy listed company. The announcement was made by Auditor General and Secretary of the Board Song Jinggang on 1 March 2024.