HK Stock Market Move | KINETIC DEV (01277) rose more than 11% after the performance report, planning to distribute a final dividend of 6 Hong Kong cents per share. Institutions pointed out that the company has outstanding high dividend characteristics.

KINETIC DEV (01277) rose more than 11% after the performance report. As of the time of writing, it had risen by 10.19%, reaching 2.38 Hong Kong dollars with a trading volume of 1.04 billion Hong Kong dollars. In terms of news, KINETIC DEV disclosed its annual performance. The total revenue was 5.293 billion yuan, a decrease of 6.4% year-on-year; net profit attributable to shareholders was 896 million yuan, a decrease of 57.54% year-on-year; it plans to distribute a final dividend of 6.0 Hong Kong cents per share, to be distributed in June, July, August, and September. Guosheng previously released a research report stating that KINETIC DEV will distribute special dividends multiple times from 2023 to 2025. Zhang Li, the father of Zhang Tang and Zhang Li, had already resigned from the company's board of directors in 2022, and the company's management is now largely in the hands of professional managers, which has increased the controlling shareholder's demand for dividends. The company announced the distribution of a midterm dividend of 5 Hong Kong cents in the 2025 interim report, and a special dividend of 3.5 Hong Kong cents in the first half of the year, resulting in a half-year dividend yield of 5%, highlighting the company's high dividend attribute.