海宁中国皮革城股份有限公司发布2025年度利润分配预案 公告详解
一、利润分配预案审议与流程
海宁中国皮革城股份有限公司（证券代码：002344，简称：海宁皮城）于2026年4月14日召开第六届董事会第十六次会议，审议通过了《关于审议2025年度利润分配预案的议案》。该预案将提交公司股东大会进一步审议，最终实施仍取决于股东大会表决通过。
二、2025年度利润分配及资本公积金转增股本方案详情
- 分配基准年度：2025年
- 母公司2025年净利润：97,099,996.22元
- 年初未分配利润：2,931,007,880.00元
- 2024年度已分红：48,739,440.68元
- 2025年度可供分配利润：2,979,368,435.54元
- 法定盈余公积金提取：9,709,999.62元（按母公司2025年净利润10%计提）
- 报告期末未分配利润：2,969,658,435.92元
- 分红方案：以2025年12月31日总股本1,282,616,960股为基数，向全体股东每10股派发现金红利0.40元（含税），合计51,304,678.40元。不送红股，不进行资本公积金转增股本，未分配利润结转至下一年度。
三、现金分红及回购情况
- 2025年度现金分红总额：51,304,678.40元
- 2025年度未进行股份回购
- 2025年度归属于上市公司股东净利润：70,608,731.75元
- 现金分红/净利润比：72.66%，显示公司大比例分红，注重投资者回报
- 母公司报告期末未分配利润：2,969,658,435.92元
- 合并报表累计未分配利润：5,043,786,122.50元
- 最近三年累计现金分红总额：155,196,652.16元，平均净利润：112,314,989.87元
- 未触及深交所关于其他风险警示的情形
四、分红方案的调整原则
若在本次利润分配方案披露日至实施权益分派股权登记日期间，因股权激励、可转债转股、股份回购等原因导致公司总股本发生变动，公司将按相同分配比例调整分配总额。
五、分红方案的合理性
公司表示本次利润分配预案严格依照《公司法》、《上市公司监管指引第3号》、《上市公司自律监管指引第1号》及《公司章程》等相关法律法规及公司章程要求，考虑了公司经营情况、发展阶段、盈利水平、发展规划、现金流和投资者回报。公司认为本次分红方案不会导致流动资金短缺，具有合法性、合规性、合理性。
六、对股东和公司估值的影响及关注重点
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高分红比例：本次分红方案占净利润72.66%，显示公司重视投资者回报，或提升市场对公司现金流稳定性的认可，可能对股价形成支撑。
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充足未分配利润与稳健现金流：公司仍有大额未分配利润结转，表明公司资本实力雄厚，为未来发展和持续分红奠定基础。
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未有股份回购：公司未计划在2025年度进行股份回购，显示管理层更倾向于现金分红方式回馈股东。
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无风险警示事项：公司经营稳健，未触及深交所风险警示条款，进一步提升投资者信心。
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股本变化调整机制：若股本因激励、转债等变化，分红总额将相应调整，保障分红政策的连续性和公正性。
七、备查文件
公司第六届董事会第十六次会议决议等相关文件可供投资者查阅。
结论
海宁中国皮革城2025年度高比例现金分红方案，展现出公司盈利能力强、现金流稳健和对投资者回报的高度重视。该分红预案如获通过，预计对公司股价形成正面影响，值得投资者关注。
免责声明： 本文仅为信息披露及解读，不构成任何投资建议或买卖依据。投资有风险，决策需谨慎。
Haining China Leather Market Co., Ltd. Releases 2025 Profit Distribution Proposal—Key Points for Investors
1. Review and Process of the Profit Distribution Proposal
Haining China Leather Market Co., Ltd. (Stock code: 002344, Abbr.: Haining Leather City) held its 16th meeting of the 6th Board of Directors on April 14, 2026, and approved the 2025 profit distribution proposal. The plan will be further submitted to the shareholders’ meeting for approval before implementation.
2. Details of the 2025 Profit Distribution and Capital Reserve Increase Plan
- Base year for distribution: 2025
- Parent company’s 2025 net profit: RMB 97,099,996.22
- Undistributed profit at year start: RMB 2,931,007,880.00
- 2024 dividend already distributed: RMB 48,739,440.68
- Distributable profit for 2025: RMB 2,979,368,435.54
- Statutory surplus reserve: RMB 9,709,999.62 (10% of 2025 net profit)
- Undistributed profit at period end: RMB 2,969,658,435.92
- Dividend plan: Based on 1,282,616,960 shares as of December 31, 2025, a cash dividend of RMB 0.40 per 10 shares (tax included) will be distributed, totaling RMB 51,304,678.40. No bonus shares or capital reserve conversion, and all undistributed profits roll over to the next year.
3. Cash Dividend and Buyback Overview
- 2025 cash dividend total: RMB 51,304,678.40
- No share buyback in 2025
- 2025 net profit attributable to shareholders: RMB 70,608,731.75
- Dividend payout ratio: 72.66%, reflecting a high return to shareholders
- Parent company’s undistributed profit at year end: RMB 2,969,658,435.92
- Consolidated undistributed profit: RMB 5,043,786,122.50
- Three-year cumulative cash dividend: RMB 155,196,652.16, average net profit: RMB 112,314,989.87
- No risk warning triggers under Shenzhen Stock Exchange rules
4. Dividend Adjustment Principles
If the total share capital changes due to equity incentives, convertible bonds, or share buybacks between proposal disclosure and ex-dividend record date, the company will maintain the same distribution ratio and adjust the total accordingly.
5. Reasonableness of the Dividend Plan
The company states that the proposal fully complies with the Company Law, regulatory guidance, and Articles of Association, considering actual operation, development stage, profitability, strategic plans, cash flow, and investor returns. The payout will not cause liquidity shortages and is deemed legal, compliant, and reasonable.
6. Impact on Shareholders and Valuation—Key Concerns
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High payout ratio: The dividend-to-net-profit ratio of 72.66% sends a strong signal of shareholder-friendly policy, potentially supporting share price.
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Ample retained earnings & stable cash flow: The large undistributed profit base indicates strong capital reserves, supporting future growth and sustained dividends.
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No share buyback: The company prioritizes cash dividends over buybacks to reward shareholders.
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No risk warnings: Stable operations and compliance enhance investor confidence.
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Flexible adjustment mechanism: Dividend totals will be dynamically adjusted for any share capital changes, ensuring fairness and policy continuity.
7. Reference Documents
Shareholders may review the 16th meeting resolution of the 6th Board of Directors for further details.
Conclusion
Haining China Leather Market’s 2025 high-ratio cash dividend proposal highlights strong profitability, stable cash flow, and a robust commitment to shareholder returns. If approved, this plan is likely to support the company’s share price and is noteworthy for investors.
Disclaimer: This article is for information and analysis purposes only and does not constitute investment advice. Investing carries risk; please make decisions prudently.
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