Summary by Moomoo AI
Great Wall Motor announced on April 24, 2024 the “Promote Efficiency and Return” Action Plan, which aims to preserve the interests of shareholders and promote the company's continued and stable development. The program emphasizes high-quality development to strengthen core competitiveness and will further invest in new energy and smart areas. The Company plans to distribute to shareholders an annual cash dividend of RMB 0.3 per share for the year ending December 31, 2023 for a total of approximately RMB25.63 billion, representing 36.50% of the 2023 net profit. In addition, Great Wall Automotive will improve the quality of information disclosure, strengthen communication with investors, and strive to implement ESG philosophy to achieve sustainability. The company has also implemented an employee shareholding program through share buybacks to stimulate employee innovation and promote long-term company development.