上海家化发布2025年度利润分配方案及2026年半年度分红计划

要点摘要

• 每股派发现金红利0.20元（含税），基于2025年末总股本扣除回购股份后。
• 2025年度现金分红总额约1.34亿元，全年现金分红总额1.60亿元，占年度归母净利润比例达59.90%。
• 2026年半年度利润分配计划设定条件及分红上限，为净利润的10%。
• 公司未触及上交所其他风险警示红线，三年累计分红3.36亿元。
• 分红方案需提交股东大会审议。

详细内容

上海家化联合股份有限公司（证券代码：600315）于2026年3月26日公告了其2025年年度利润分配方案及2026年半年度利润分配计划。董事会及全体董事对公告内容的真实性、准确性和完整性承担法律责任。该公告内容对投资者，尤其是关注公司分红政策和稳定回报的股东具有重要意义。

2025年度利润分配方案

• 截至2025年12月31日，公司母公司报表期末未分配利润为62.91亿元。公司计划以实施权益分派股权登记日的总股本扣除回购专用账户持有的股份为基数，实施每股0.20元的现金红利分配（含税）。
• 2025年末总股本为672,225,980股，扣除回购股份1,604,172股后，实际参与分红的股份为670,621,808股。由此计算，2025年度合计现金分红为134,124,361.60元（含税）。
• 2025年度全年的现金分红总额为160,278,612.11元（包括已分配的中期现金红利26,154,250.51元），现金分红占归属于上市公司股东净利润的比例为59.90%。
• 如因可转债转股、股份回购、股权激励或重大资产重组等导致总股本变动，公司将维持每股分配比例不变，相应调整总分红额，具体调整将在后续公告中披露。

2026年半年度利润分配计划

• 2026年半年度利润分配须满足：合并报表归属于上市公司普通股股东的净利润为正。
• 现金分红金额上限为2026年半年度归属于普通股股东净利润的10%。
• 半年度分红方案具体内容将依据利润分配条件由董事会制定，并提交股东会审议。

风险与合规说明

• 公司不触及《上海证券交易所股票上市规则》第9.8.1条第一款第（八）项关于其他风险警示的情形。
• 最近三个会计年度累计现金分红总额为3.36亿元，现金分红比例不低于30%，也未低于5000万元，显示公司有持续和稳定的现金分红能力。
• 公司2025年归母净利润为2.68亿元，上一年度大幅亏损8.33亿元，2023年度净利润为5亿元，公司盈利能力波动较大。
• 本利润分配方案及分红计划已经董事会审议通过，符合公司章程规定，尚需股东大会审议。

投资者关注要点

• 高比例分红：本年度分红比例高达59.90%，远高于监管最低要求，显示出公司对股东回报的重视，提升投资吸引力，有望提振公司估值。
• 盈利波动需警惕：公司近三年净利润波动较大，投资者应关注盈利可持续性对未来分红政策的影响。
• 未来分红政策明确：2026年半年度分红设定具体分配条件和上限，有助于提升分红预期的确定性。
• 股本变动风险：如在权益分派前发生股本变动，分红总额会相应调整，投资者需关注后续公告。
• 需经股东会审议：方案尚未最终实施，仍需通过股东大会表决。

结语

综合来看，上海家化2025年度的高比例现金分红及明确的未来分红政策，对股东回报具有正面影响，或将提升市场对公司稳定回报的信心，并对公司股价产生积极影响。建议投资者密切关注后续分红实施公告及公司股东大会决议。

免责声明：本文仅供参考，不构成任何投资建议。投资者应根据自身风险承受能力谨慎决策，相关信息以公司正式公告为准。

English Version

Shanghai Jahwa Announces 2025 Dividend Plan and 2026 Interim Distribution Proposal

Key Highlights

• Cash dividend of RMB 0.20 per share (before tax), based on total shares outstanding minus repurchased shares as of end-2025.
• Total cash dividend for 2025 is approximately RMB 134 million, with a full-year payout of RMB 160 million, representing 59.90% of attributable net profit.
• The 2026 interim dividend plan sets a cap at 10% of attributable net profit, conditional on profitability.
• The company has not triggered any other risk warnings as per SSE listing rules; three-year cumulative dividends total RMB 336 million.
• The dividend plan is subject to shareholder meeting approval.

Details

Shanghai Jahwa United Co., Ltd. (Stock Code: 600315) announced on March 26, 2026, its 2025 annual profit distribution plan and 2026 interim dividend plan. The board guarantees the truthfulness, accuracy, and completeness of the announcement. These details are crucial for investors, especially those focused on stable and consistent returns.

2025 Annual Dividend Plan

• As of December 31, 2025, the parent company’s undistributed profit stands at RMB 6.29 billion. The company intends to pay a cash dividend of RMB 0.20 per share (pre-tax), based on total shares minus shares held in the repurchase account on the record date.
• With a total share count of 672,225,980 and 1,604,172 shares repurchased, the actual shares eligible for dividends total 670,621,808. This results in a total dividend payout of RMB 134,124,361.60 (pre-tax).
• The annual cash dividend for 2025, including the interim payout of RMB 26,154,250.51, sums to RMB 160,278,612.11, representing 59.90% of the year’s attributable net profit.
• If changes to share capital occur before the ex-dividend date (due to conversion, buybacks, equity incentives, or major asset restructurings), the per-share distribution ratio will remain unchanged, but the total payout will be adjusted and disclosed.

2026 Interim Dividend Plan

• Interim payout is conditional on positive attributable net profit to ordinary shareholders in the consolidated report.
• Interim cash dividend is capped at 10% of attributable net profit for the half year.
• The board will formulate a specific interim plan for shareholder approval when conditions are met.

Risk and Compliance Notes

• The company has not triggered risk warnings under Article 9.8.1(8) of the SSE listing rules.
• Three-year cumulative cash dividends amount to RMB 336 million, with payout ratios above regulatory minimums, reflecting strong and stable dividend ability.
• 2025 attributable net profit is RMB 267.58 million, with a prior year loss of RMB 833.09 million and 2023 profit of RMB 500 million, indicating significant earnings volatility.
• The dividend plan has board approval and complies with the articles of association but awaits shareholder meeting approval.

Investor Focus Points

• High Dividend Ratio: The payout ratio of 59.90% significantly exceeds regulatory minimums, signaling a strong commitment to shareholder returns and potentially increasing valuation.
• Earnings Volatility: Significant swings in net profit over the past three years warrant attention regarding the sustainability of future dividends.
• Clear Future Policy: The 2026 interim dividend policy sets transparent criteria, providing predictability for investors.
• Share Capital Risks: Any changes in share capital prior to the record date will lead to corresponding adjustments in the payout; investors should monitor further announcements.
• Pending Shareholder Approval: The plan must be approved at the shareholder meeting before execution.

Conclusion

In summary, Shanghai Jahwa’s high 2025 dividend payout and transparent future policy are positive for shareholder returns and may boost market confidence in the company’s stable returns, potentially impacting share price favorably. Investors are advised to monitor subsequent implementation announcements and shareholder meeting outcomes.

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should make decisions according to their risk profile and refer to official company announcements for definitive information.

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