宁波太平鸟时尚服饰股份有限公司2025年年度权益分派实施公告深度解读

要点概述

• 每股分红：A股每股现金红利0.3元（含税），合计派发约1.41亿元现金红利，分红比例高达80.89%。
• 股权登记日及除权（息）日：股权登记日为2026年6月4日，除权（息）日及现金红利发放日为2026年6月5日。
• 差异化分红：本次实施差异化分红，拟回购注销的1,170,932股限制性股票不参与本次利润分配。
• 太平转债转股期暂停：2026年5月29日至权益分派股权登记日期间，太平转债将暂停转股，确保权益分派时总股本不变。
• 相关税务说明：对个人、机构及境外投资者的红利所得税征收方式有详细规定，实际到手红利可能因持股时间、投资者身份而有差异。
• 分红后“太平转债”转股价格将调整：公司将在分红后公布可转债转股价格调整方案，影响可转债持有人的利益。

详细解读

一、分红方案与实施细则

宁波太平鸟时尚服饰股份有限公司（股票代码：603877）于2026年5月12日召开2025年年度股东大会，审议通过了2025年年度利润分配方案。本次分红以2026年6月4日股权登记日登记在册的股东为对象，A股每股派发现金红利0.3元（含税），总计现金红利派发金额为140,971,440.90元（含税），占年度利润的80.89%，显示出公司对股东回报的高度重视。

值得注意的是，因公司实施差异化分红，拟回购注销的1,170,932股限制性股票将不参与本次分红，实际参与分配的股本为469,904,803股。

二、关键信息及影响

• 高分红比例：本次分红比例高达80.89%，远高于A股平均水平，彰显公司良好盈利能力和现金流状况，或将吸引更多价值投资者关注。
• 差异化分红的影响：部分限制性股票不参与分红，对相关持有人影响需关注。
• 转债转股期暂停及转股价格调整：为保证分红期间总股本稳定，太平转债自2026年5月29日至分红股权登记日暂停转股，分红后转股价格将进行调整。持有太平转债的投资者须关注后续公告，及时评估转债价值变化，投资决策或受影响。
• 除权（息）参考价格公式：公司将按分红调整后的参考价格公式计算除权（息）价，投资者需关注分红对股价的短期影响。
• 红利税收政策：个人股东持股超过一年可暂免征收红利所得税，持股不满一年根据具体期限适用10%或20%的实际税负。QFII、RQFII及沪港通投资者均由公司按10%税率代扣代缴，其他机构和法人股东需自行申报纳税。

三、分红实施流程

1. 无限售条件流通股红利由中国结算上海分公司通过资金清算系统派发。
2. 公司自行发放对象包括太平鸟集团有限公司、张江波、宁波泛美投资管理有限公司、陈红朝、宁波禾乐投资有限责任公司及全部有限售条件流通股股东。
3. 未办理指定交易的股东，红利暂由中国结算上海分公司保管，待指定交易后再行派发。

四、潜在影响及投资建议

• 对股价的潜在推动：高分红比例和稳定的现金流分红政策显示公司持续回馈股东的能力，有助于提升市场信心，或对公司股价形成正面支撑。
• 可转债投资者需关注转股价格调整：分红后“太平转债”转股价格将做调整，直接影响可转债转股价值，建议相关投资者密切关注公司后续公告，及时调整投资策略。
• 税收政策差异化影响：不同投资者实际到手红利有差异，建议个人股东关注持股期限，合理避税。

五、后续公告及投资者咨询

关于“太平转债”转股价格调整的具体安排，公司已同步披露《“太平转债”转股价格调整的提示性公告》，投资者应及时查阅相关信息。若对本次权益分派有疑问，可通过公司董事会办公室（电话：0574-56706588）进行咨询。

结语

本次高比例现金分红、差异化分红安排及可转债转股价格调整均为投资者带来实质性影响。建议投资者密切关注公司后续公告，把握政策红利与投资机会，合理安排投资组合。

免责声明：本文所载信息仅供参考，不构成任何投资建议。投资有风险，入市需谨慎。请投资者在决策前充分了解相关风险，并以公司公告及相关权威信息为准。

English Version

In-depth Analysis: Peacebird Co., Ltd. (603877) 2025 Annual Dividend Distribution Implementation

Key Points Summary

• Dividend per Share: A cash dividend of RMB 0.3 per A-share (tax inclusive), totaling approximately RMB 141 million, with a payout ratio as high as 80.89%.
• Key Dates: Shareholder record date is June 4, 2026; ex-dividend date and payment date is June 5, 2026.
• Differentiated Dividend: 1,170,932 restricted shares scheduled for repurchase and cancellation will not participate in this dividend.
• Convertible Bond Suspension: Peacebird convertible bond will suspend conversion from May 29, 2026, to the record date, ensuring the share capital remains unchanged during the dividend distribution.
• Taxation Details: Dividend tax policy varies by investor type and holding period, affecting actual dividend received.
• Convertible Bond Conversion Price Adjustment: The conversion price of “Peacebird Convertible Bond” will be adjusted after the dividend, impacting bondholders.

In-depth Details

1. Dividend Plan & Implementation

Peacebird Co., Ltd. (603877) approved its 2025 annual profit distribution plan at its annual shareholders’ meeting on May 12, 2026. All shareholders registered as of June 4, 2026, will receive a cash dividend of RMB 0.3 per A-share (tax inclusive), with a total payout of RMB 140,971,440.90 (tax inclusive), representing a high payout ratio of 80.89%—a strong signal of the company’s commitment to shareholder returns.

Notably, 1,170,932 restricted shares subject to repurchase and cancellation will not participate in this distribution, leaving 469,904,803 shares eligible for dividends.

2. Key Information & Impact

• High Dividend Ratio: The payout ratio of 80.89% is significantly above market average, highlighting Peacebird’s strong profitability and cash position, likely to attract value investors.
• Differentiated Dividend Implication: Restricted shares not participating in the dividend may affect related stakeholders.
• Convertible Bond Suspension & Price Adjustment: To ensure stable share capital during dividend distribution, Peacebird Convertible Bonds will not be convertible from May 29 to the record date. The conversion price will be adjusted after the dividend, directly impacting bondholders’ interests—investors should follow subsequent company announcements closely.
• Ex-dividend Reference Price Formula: The company will use an adjusted formula to set the ex-dividend reference price, meaning the dividend will have a short-term impact on share price.
• Dividend Tax Policy: Individual shareholders holding for over a year are temporarily exempt from personal income tax; those holding for one year or less are subject to 10% or 20% tax based on holding period. QFII/RQFII and HK investors are subject to a 10% withholding tax; institutions and corporate shareholders must self-report and pay taxes as required.

3. Dividend Distribution Process

1. Unrestricted shares will be paid via China Securities Depository’s clearing system.
2. Peacebird Group, Zhang Jiangbo, Ningbo Panmei Investment, Chen Hongchao, Ningbo Hele Investment, and all restricted shareholders will receive dividends directly from the company.
3. Unregistered investors’ dividends will be held by China Securities Depository until registration is complete.

4. Potential Impact & Investor Advice

• Potential Share Price Catalyst: The high dividend payout and stable cash dividend policy highlights the company’s commitment to rewarding shareholders, potentially supporting the stock price.
• Convertible Bond Investors: The post-dividend conversion price adjustment will directly affect the value of Peacebird Convertible Bonds—bondholders should closely monitor follow-up announcements and adjust investment strategies accordingly.
• Differentiated Tax Impact: Actual dividends received vary by investor type and holding period—individual shareholders should pay attention to holding duration for tax optimization.

5. Follow-up Announcements & Investor Contact

The company has issued a separate announcement on the adjustment of the conversion price of “Peacebird Convertible Bonds.” Investors are advised to refer to official disclosures and contact the board office at 0574-56706588 for any queries.

Conclusion

The high payout ratio, differentiated dividend mechanism, and convertible bond conversion price adjustment all present material implications for investors. We advise shareholders and bondholders to stay tuned to official announcements and optimize their investment strategies accordingly.

Disclaimer: The information provided herein is for reference only and does not constitute investment advice. Investment involves risk. Please refer to official company disclosures and consult professional advisors as needed.

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