The outstanding annual report of Hefei Meiling, a household electrical appliances manufacturer in East China's Anhui province, didn't stimulate investors' enthusiasm with news of no dividends for the 11th year, National Business Daily reported Wednesday.
The Shenzhen listed company saw net profits of 301 million yuan in 2009, an increase of over ten times. Earnings per share rose to 0.72 yuan from 0.07 yuan in 2008.
Special Coverage:2009 Annual Reports of Listed CompaniesShares of Meiling closed lower at 11.36 yuan per share, down 4.94 percent Tuesday compared to the previous close.
The reason why Meiling didn't win investors' interests could be due to most of the company's net profits coming from selling financial assets and receiving government subsidies rather than core business operations, the report said, citing an analyst.
