Summary by Moomoo AI
NANJING STEEL CO., LTD., AS A SUBSIDIARY OF CITIC CITIC CORPORATION, ANNOUNCED ON 22 APRIL 2024 THE ACTION PLAN “INCREASE EFFICIENCY GAINS” IN 2024. The program aims to improve the quality of the company's operations, optimize its governance structure, enhance market competitiveness and positively reward investors. Nanjing Steel will focus on the steel industry, enhance autonomous innovation capacity, and strengthen investor communication to improve the quality of information disclosure. The company is committed to green low-carbon development and plans to achieve a carbon peak in 2030 and carbon neutrality in 2050. In addition, Nanjing Steel will continuously improve its corporate governance system and deepen long-term incentives and restraints. In 2023, the company achieved a growth in steel sales, with advanced steel sales up 25.15% year-on-year, and maintained a stable cash dividend policy and planned to pay a cash dividend of $2.50 per 10 shares. The company will continue to advance its ESG sustainability strategy and strengthen its corporate governance structure.