万润股份发布2025年度利润分配方案，现金分红占净利润超20%

中节能万润股份有限公司（证券代码：002643，证券简称：万润股份）于2026年4月23日召开第六届董事会第十九次会议，审议并通过了《2025年度利润分配方案》。该方案尚需提交2025年度股东大会审议。这一消息对投资者而言具有重要意义，尤其是在确定未来分红收益和公司财务健康度方面。

一、利润分配方案核心要点

• 分配基准年度：2025年度。
• 净利润情况：2025年公司实现归属于上市公司股东的净利润为284,480,463.89元，母公司实现净利润174,636,022.61元。
• 可供分配利润：以母公司2025年度净利润为基数，减去当年分配现金股利92,295,922.50元（含税），加上年初未分配利润2,220,376,450.85元后，至2025年12月31日可供分配利润为2,302,716,550.96元。
• 分红方案具体内容：拟以截至2026年3月31日公司总股本922,959,225股，扣除回购专用证券账户股份7,059,200股后，按915,900,025股为基数，以2025年末未分配利润，向全体股东每10股派发现金股利1.25元（含税），预计现金分红总额为114,487,503.13元，占可供分配利润的20%以上。本次不进行资本公积金转增股本与送红股。
• 股份回购：2025年度公司股份回购金额为60,362,985.02元（不含交易费用）。
• 现金分红及回购合计：2025年度累计现金分红与股份回购总额为174,850,488.15元，占2025年归属于上市公司股东净利润的61.46%。

二、方案调整机制

如公司股本自方案披露至股权登记日期间因可转债转股、股份回购、股权激励行权、再融资新增股份上市等原因发生变动，或回购专用证券账户股份变动，将以分配时实际股权登记日的总股本扣除回购股份为基数，并保持分配总额不变，对每股分配比例进行相应调整。

三、分红方案合理性与风险提示

• 分红比例合理：2023-2025年累计现金分红总额为485,815,272.13元，占最近三年平均净利润的112.65%。公司连续分红，显示出较强的股东回报能力。
• 财务健康：2025年度经审计的金融资产等相关科目仅占总资产的0.56%，远低于50%的警戒线。
• 未触及风险警示：公司近三年净利润均为正值，合并及母公司报表年度末未分配利润均为正值，不触及深交所股票上市规则第9.8.1条的风险警示情形。
• 未来不确定性：该方案需经股东大会审议，存在一定不确定性。

四、对投资者的影响及关键信息

• 分红持续性与力度：公司持续高比例分红，且2025年分红加回购占净利润比重高达61.46%，表明公司现金流充裕，具备稳定分红能力，有助于提振投资者信心。
• 股东回报明确：每10股分配现金1.25元（含税），对长期持股者形成利好。
• 总股本及回购动态调整：分红基数和比例如遇公司股本结构调整将进行动态修正，保证公平性。
• 需关注股东大会决议：方案需股东大会最终通过，投资者应持续关注后续进展。

结论

万润股份2025年度利润分配方案显示公司经营稳健，财务状况良好，分红力度和持续性均处于行业较高水平。该方案传递出公司对股东回报的高度重视，若获批将有望对公司股票形成正面催化。不过，投资者仍需关注股东大会最终决议以及未来公司经营环境的变化。

免责声明：本文基于公司公告与公开信息整理，内容仅供投资者参考，不构成任何投资建议。投资决策需结合自身风险承受能力与市场动态，风险自担。

English Version

Wanrun Shares Announces 2025 Profit Distribution Plan: Cash Dividend Exceeds 20% of Net Profit

China Energy Conservation Wanrun Co., Ltd. (Stock Code: 002643, Short Name: Wanrun Shares) held its 19th meeting of the 6th Board of Directors on April 23, 2026, approving the “2025 Profit Distribution Plan”. The plan is subject to approval at the 2025 Annual General Meeting of Shareholders. This news is significant for investors, especially in assessing future dividend income and the company’s financial health.

I. Key Points of the Profit Distribution Plan

• Base Year: 2025.
• Net Profit: Net profit attributable to shareholders in 2025 is 284,480,463.89 yuan; net profit of the parent company is 174,636,022.61 yuan.
• Distributable Profit: Based on the parent company’s net profit for 2025, after deducting the cash dividend of 92,295,922.50 yuan (tax included) for the year, and adding undistributed profit of 2,220,376,450.85 yuan at the beginning of the year, distributable profit as of December 31, 2025, is 2,302,716,550.96 yuan.
• Dividend Details: Based on the total share capital of 922,959,225 shares as of March 31, 2026, and deducting 7,059,200 shares held in the repurchase account, the actual base is 915,900,025 shares. Using undistributed profit as of end-2025, the company proposes a cash dividend of 1.25 yuan (tax included) per 10 shares, totalling approximately 114,487,503.13 yuan, more than 20% of distributable profit. No capital reserve conversion or bonus shares this time.
• Share Buyback: Share repurchase in 2025 amounts to 60,362,985.02 yuan (excluding transaction fees).
• Total Cash Outlay (Dividends + Buyback): 174,850,488.15 yuan for 2025, accounting for 61.46% of net profit attributable to shareholders.

II. Adjustment Mechanism

If the company’s share capital changes between plan disclosure and the rights registration date (due to convertible bonds, buybacks, equity incentives, refinancing, etc.), or if repurchased shares change, the actual number of shares on the registration date minus repurchased shares will be used as the basis, with per-share distribution ratio adjusted to keep the total unchanged.

III. Plan Rationality and Risk Reminder

• Reasonable Distribution: Total cash dividends from 2023-2025 amount to 485,815,272.13 yuan, accounting for 112.65% of the average net profit over the past three years. Continuous dividends show strong shareholder return capability.
• Financial Health: Audited financial assets and related items for 2025 account for only 0.56% of total assets, well below the 50% warning line.
• No Risk Warning Triggered: Net profits for the past three years are positive, and undistributed profits at year-end (consolidated and parent) are also positive, not triggering risk warnings under relevant stock exchange rules.
• Uncertainty: The plan requires shareholder approval, carrying some uncertainty.

IV. Impact on Investors & Key Information

• Dividend Sustainability and Strength: The company maintains a high dividend payout, with 2025 dividends plus buybacks accounting for 61.46% of net profit, indicating strong cash flow and stable dividend capability, supporting investor confidence.
• Clear Shareholder Returns: 1.25 yuan (tax included) per 10 shares, benefiting long-term holders.
• Dynamic Adjustment: Dividend base and ratio will be adjusted if share structure changes, ensuring fairness.
• Monitor Shareholder Meeting Outcome: The plan needs final shareholder approval; investors should watch for developments.

Conclusion

Wanrun’s 2025 profit distribution plan demonstrates steady operations, sound finances, and strong, sustained dividends. If approved, it signals the company’s commitment to shareholder returns and could be a positive catalyst for the stock. Investors should, however, monitor the outcome of the shareholder meeting and future operating environment changes.

Disclaimer: The above is based on company announcements and public information, for reference only. It does not constitute investment advice. Investors should make decisions according to their risk tolerance and market conditions. All risks are borne by the investor.

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