泰和新材集团股份有限公司 2025 年度权益分派实施公告深度解读
要点概览
- 现金分红方案落地：泰和新材（002254）2025 年度将以扣除回购股份后的总股本为基数，每 10 股派发现金红利人民币 0.20 元（含税），合计分红 16,964,661.20 元。
- 回购股份不参与分红：公司回购专用证券账户中的 8,824,123 股不参与本次分红，实际参与分红股本为 848,233,060 股。
- 差别化税率政策：对于个人投资者，因持股期限不同，税收政策差异明显，投资者需关注税后实际分红金额。
- 除权除息参考价调整：分红实施后，除权除息参考价格将相应降低，每股分红对应调整 0.019794 元。
- 实施时间表：股权登记日为 2026 年 5 月 21 日，除权除息日定于 2026 年 5 月 22 日。
- 限制性股票激励计划同步调整：因分红，限制性股票授予及回购价格将做相应调整，涉及公司未来激励政策。
详细内容解读
泰和新材集团股份有限公司于 2026 年 4 月 10 日召开第十一届董事会第二十一次会议，审议通过了 2025 年度利润分配预案，并于 2026 年 5 月 11 日经年度股东会通过。本次权益分派方案为：以实施权益分派股权登记日的有效总股本（即 857,057,183 股总股本扣除回购股份 8,824,123 股），向全体股东每 10 股派发现金红利 0.20 元（含税），合计分红总额为 16,964,661.20 元。
本次分红不包括送红股和资本公积金转增股本，仅为现金分红形式。
分红实施细节
- 如实施前可参与利润分配的股份发生变动，分红总额将按每股分配比例不变原则进行调整，以股权登记日的实际可分配股份为准。
- 自披露日至实施期间，公司股本总额未发生变化，分配方案与股东会通过方案一致，且距离股东会通过时间不超过两个月。
税收政策关注
- 通过深股通持有股份的香港市场投资者及境外机构（QFII、RQFII）每 10 股派发 0.18 元（含税后）。
- 个人投资者持有首发后限售股、股权激励限售股及无限售流通股，红利税按持股期限实行差别化税率：持股 1 个月及以内补缴 0.04 元/10 股，持股 1 个月以上至 1 年（含）补缴 0.02 元/10 股，持股超过 1 年免税。
- 证券投资基金对香港投资者部分按 10%征收红利税，对内地投资者部分也按差别化税率。
分红流程及时间安排
- 股权登记日：2026 年 5 月 21 日
- 除权除息日：2026 年 5 月 22 日
- 分红对象为登记日在册的所有股东，A 股红利大部分通过证券公司托管账户划拨，部分大股东（如烟台国丰投资控股集团、烟台裕泰投资等）由公司自行派发。
对限制性股票激励计划的影响
公司已明确本次分红后将对《2022 年限制性股票激励计划》相关授予及回购价格做同步调整，具体细则后续根据规定实施。
投资者需重点关注事项（可能影响股价）
- 现金分红释放积极信号：公司坚持现金分红，体现出稳定的盈利能力和对股东回报的重视，或提振投资者信心。
- 回购股份未参与分红，实际分红比例提升：分红基数减少，剩余股东获得的分红比例实际被拉高。
- 激励计划价格调整影响未来稀释：分红后限制性股票激励价格下调，未来行权成本降低，或影响公司长期激励效果及股本结构。
- 分红实施带来短期除权除息效应：分红后股价除权，短期内股价下调，但长期看分红稳定有助于估值中枢提升。
- 税务政策变化需投资者关注：个人投资者因持股期限不同，税后实际分红金额将有明显差异，影响实际收益。
投资者操作建议
- 关注股权登记日，提前完成买入操作才能获得本次分红。
- 持有时间对红利税有重大影响，建议长期持有以获得最大税后收益。
- 结合公司现金分红政策和激励计划调整，评估公司长期价值与股本结构变化。
联系方式
如有疑问，可联系公司咨询：
地址：山东省烟台市黄渤海新区海滨路 240 号泰和新材国际创智中心
联系人：董旭海、于礼玮
电话/传真：0535-6394123
免责声明：本报道仅为信息披露及解读，不构成任何投资建议。投资有风险，决策需谨慎。请以公司公告及相关法规为准。
English Version
In-depth Analysis of Tahe New Material Group Co., Ltd. 2025 Dividend Distribution Implementation Announcement
Key Highlights
- Cash Dividend Plan Confirmed: Tahe New Material (002254) will distribute a cash dividend of RMB 0.20 per 10 shares (tax-inclusive), based on the total share capital excluding repurchased shares. Total dividend payout will be RMB 16,964,661.20.
- Repurchased Shares Not Participating: 8,824,123 shares held in the company’s repurchase account are excluded from this dividend. The actual number of shares participating in the dividend is 848,233,060.
- Differentiated Tax Policies: Personal investors will face different tax rates depending on holding periods, affecting net dividend received.
- Ex-dividend Reference Price Adjustment: After dividend implementation, the ex-dividend reference price will be reduced by RMB 0.019794 per share.
- Timeline: Share registration date is May 21, 2026; ex-dividend date is May 22, 2026.
- Incentive Plan Adjustment: The company’s restricted stock incentive plan (2022) will trigger corresponding adjustments to grant and repurchase prices due to this dividend event.
Detailed Interpretation
On April 10, 2026, Tahe New Material’s board approved the 2025 profit distribution plan, which was later approved by shareholders on May 11, 2026. The plan is to distribute RMB 0.20 (tax-inclusive) per 10 shares to all shareholders based on the effective share capital on the record date (857,057,183 total shares minus 8,824,123 repurchased shares). The total payout is RMB 16,964,661.20. This distribution is purely in cash, with no bonus shares or capital reserve transfer.
Dividend Implementation Details
- If the number of shares eligible for dividend changes before implementation, the total dividend will be adjusted accordingly, with per-share ratio remaining constant.
- No change in company’s total share capital during the period from plan disclosure to implementation. The plan matches what was approved by shareholders, and is implemented within two months of approval.
Tax Policy Focus
- Hong Kong market investors via Stock Connect and overseas institutions (QFII, RQFII) receive RMB 0.18 per 10 shares after tax.
- Personal investors face tiered tax rates: held ≤1 month require additional RMB 0.04/10 shares tax, held >1 month to ≤1 year RMB 0.02/10 shares, held >1 year tax-free.
- Securities investment funds: 10% dividend tax for Hong Kong investors, tiered rates for mainland investors.
Dividend Process & Timeline
- Share registration date: May 21, 2026
- Ex-dividend date: May 22, 2026
- Most A-share dividends will be credited via brokerage accounts. Large shareholders (such as Yantai Guofeng, Yantai Yutai, etc.) receive dividends directly from the company.
Impact on Incentive Plan
Post-dividend, the company will adjust the grant and repurchase prices under the 2022 Restricted Stock Incentive Plan in accordance with regulations.
Key Points for Investors (Potential Price Sensitivity)
- Dividend Signals Confidence: Regular cash dividend signals stable profitability and commitment to shareholder returns, likely to boost investor sentiment.
- Higher Actual Dividend Rate: Exclusion of repurchased shares increases the effective dividend rate for remaining shareholders.
- Incentive Plan Adjustment: Lowered grant price after dividend may impact future stock dilution and long-term incentive effect.
- Ex-dividend Effect: Short-term share price may adjust downward post-dividend, but stable dividend policy supports long-term valuation.
- Tax Policy Implications: Investors should consider holding period to optimize after-tax dividend income.
Investor Suggestions
- Purchase before registration date to qualify for dividend.
- Long-term holding optimizes after-tax dividend, especially for personal investors.
- Assess company’s stable dividend and incentive plan adjustments for long-term value impact.
Contact Information
For further inquiries:
Address: No. 240 Haibin Road, Huangbohai New District, Yantai, Shandong Province, Tahe New Material International Innovation Center
Contacts: Dong Xuhai, Yu Liwei
Tel/Fax: 0535-6394123
Disclaimer: This report is for information disclosure and interpretation only. It does not constitute investment advice. Please refer to official company announcements and regulations. Investment involves risks; please make decisions prudently.
