EBIL Receives Cash Dividend from SMIC at HK$1.52 Billion

On June 20th, Shenzhen Stock Exchange listed company, EVE Energy, announced that its indirectly held subsidiary, SM Holdings, held its annual shareholders meeting on May 25th and approved a proposal to distribute a year-end dividend of HK $0.08 per share until December 31, 2022. EVE Energy's wholly-owned subsidiary, EVE Battery Investment Ltd., holds 1.901 billion shares in SM Holdings and is expected to receive a cash dividend of HK$152 million. As of the date of this announcement, EBIL has received this cash dividend of HK$152 million.

Here is the original text of the announcement:

EVE Battery Investment Ltd., a wholly-owned subsidiary of EVE Lithium Energy Co. Ltd. (referred to as "the Company"), has received a notice of cash dividend from Sumitomo Corporation, an indirectly held investee of the Company, on May 25th, 2023. Sumitomo Corporation held its annual shareholder meeting on this date and approved the motion to distribute a year-end dividend of HKD 0.08 per share for the fiscal year ending December 31st, 2022. EBIL, a wholly-owned subsidiary of the Company, holds 1,901,520,000 shares in Sumitomo Corporation, and is expected to receive HKD 152,121,600.00 in cash dividends. As of the date of this announcement, EBIL has received the cash dividend mentioned above. The long-term equity investment in Sumitomo Corporation is accounted for under the equity method, and the dividend received will not affect the Company's net profit for the fiscal year 2023 on a consolidated basis. Specific accounting treatment is subject to the results of the annual audit, and investors are advised to be aware of investment risks. 

This is an official notice.

References:

Original announcement