众兴菌业发布2025年度利润分配预案：现金分红大幅增长，持续回馈股东

主要亮点

• 公司董事会已审议通过2025年度利润分配预案，尚需股东大会最终批准。
• 2025年度归属于上市公司股东的净利润达3.35亿元，年末合并报表未分配利润为11.61亿元。
• 母公司本年度可供分配利润为1.88亿元。
• 预计现金分红总额为1.12亿元（含税），每10股派发现金红利3元（含税），不送红股，不进行公积金转增股本。
• 2025年前三季度已实施现金分红5,621万元，本年度累计现金分红达1.69亿元（含税）。
• 2025年度公司回购股份241.56万股，支付金额约1,756万元。
• 2025年度现金分红及股份回购总额为1.86亿元，占净利润的55.59%。
• 公司未触及深圳证券交易所风险警示情形，财务状况稳健。

详细内容

天水众兴菌业科技股份有限公司于2026年3月20日召开第五届董事会第二十三次会议，审议并通过了《关于审议2025年度利润分配预案的议案》。该预案尚需提交2025年度股东大会审议通过。

根据中审众环会计师事务所审计，2025年度公司实现归属于上市公司股东的净利润为334,963,547.55元，合并报表未分配利润高达1,160,962,076.90元。母公司实现净利润194,041,432.37元，计提法定盈余公积金19,404,143.24元，年末母公司未分配利润为187,524,365.51元。按照母公司与合并报表孰低原则，可供分配利润为1.88亿元。

公司利润分配方案为：以公司总股本393,241,359股扣除回购专户持有股份18,498,826股后的股本374,742,533股为基数，每10股派发现金红利3.00元（含税），预计现金分红总额为112,422,759.90元（含税）。本年度不送红股，不进行公积金转增股本。若公司股本因可转债转股、股份回购、股权激励行权等原因发生变动，现金分红总额将不变，仅作相应调整。

值得关注的是，2026年1月20日公司临时股东会审议通过了2025年前三季度利润分配方案，并于2月3日实施，分红总额为56,211,379.95元（含税）。2025年度累计现金分红总额为168,634,139.85元（含税）。此外，公司2025年度以集中竞价交易回购股份241.56万股，支付总金额为17,562,015.28元（不含交易费用）。

综上，2025年度公司现金分红及股份回购总额为186,196,155.13元，占净利润的55.59%。公司过去三年累计现金分红总额为399,029,307.45元，回购注销总额为101,002,394.57元，三年平均净利润为207,524,780.26元，累计现金分红及回购注销总额达500,031,702.02元，高于三年平均净利润的30%，持续回报股东。

公司财务状况稳健，2023至2025年资产负债率分别为43.44%、46.39%和50.14%，流动资产对流动负债有保障。公司采用经销商模式，回款周期短，现金流充裕，授信额度充足，账面货币资金较多，利润分配方案不会影响偿债能力和正常生产经营。

利好与潜在影响

• 现金分红大幅增长：2025年度分红总额创历史新高，彰显公司盈利能力和回馈股东的决心。
• 回购股份持续进行：回购股份及注销股份，可能带来每股收益提升和股价稳定。
• 财务稳健：公司未触及风险警示情形，三年持续分红，体现长期回报规划。
• 股东回报政策明确：分红方案合理，兼顾公司发展和股东利益，对投资者具有吸引力。

重要提醒

• 本次利润分配预案尚需股东大会批准，最终实施情况以股东大会决议为准。
• 分红基数及方案如遇公司股本变动，将作相应调整，但总额不变。
• 公司三年持续分红及回购，财务状况良好，分红比例高，或对股价形成利好。

结论

众兴菌业2025年度利润分配预案显示公司持续盈利、稳健经营、积极回馈股东，分红力度显著提升，股份回购持续进行，财务健康，未触及风险警示，投资者可关注股东大会最终决议及分红方案实施情况。该消息或对公司股价形成积极影响。

免责声明：本文仅供参考，不构成投资建议。投资者请关注公司后续公告及股东大会决议，并根据自身风险承受能力作出投资决策。作者不对因本文内容产生的任何投资损失负责。

English Version

Zhongxing Mushroom Industry Announces 2025 Profit Distribution Proposal: Significant Dividend Increase, Strong Shareholder Returns

Key Highlights

• The Board has approved the 2025 profit distribution proposal, pending shareholder meeting approval.
• Net profit attributable to shareholders in 2025 reached RMB 335 million, year-end unallocated profit on consolidated accounts at RMB 1.16 billion.
• The distributable profit from the parent company stands at RMB 188 million.
• Expected total cash dividend is RMB 112 million (pre-tax), with RMB 3 per 10 shares, no bonus shares, and no capital reserve conversion to equity.
• RMB 56 million already distributed for the first three quarters of 2025, annual total cash dividend amounts to RMB 169 million (pre-tax).
• In 2025, the company repurchased 2.4156 million shares, spending approx. RMB 17.56 million.
• Total for cash dividend and share buyback in 2025 is RMB 186 million, 55.59% of net profit.
• No risk warning triggers according to Shenzhen Stock Exchange rules, financials remain robust.

Details

Zhongxing Mushroom Industry Technology Co., Ltd. held its 23rd meeting of the fifth Board on March 20, 2026. The 2025 profit distribution proposal was approved and awaits shareholder meeting confirmation.

According to audited results, net profit attributable to shareholders for 2025 is RMB 334,963,547.55, consolidated unallocated profit stands at RMB 1,160,962,076.90. Parent company net profit is RMB 194,041,432.37 with legal surplus reserve of RMB 19,404,143.24, and unallocated profit at year-end RMB 187,524,365.51. Following the principle of the lower of parent or consolidated numbers, distributable profit is RMB 188 million.

The proposal is: based on the total shares minus repurchased shares (374,742,533 shares), each 10 shares will receive RMB 3.00 (pre-tax) cash dividend; total expected cash dividend is RMB 112,422,759.90 (pre-tax). No bonus shares or capital reserve conversions. Should the share capital change before implementation, total dividend remains unchanged and will be adjusted accordingly.

Worth noting: on January 20, 2026, an interim shareholders meeting approved the dividend for the first three quarters of 2025 (RMB 56,211,379.95 pre-tax), distributed on February 3, 2026. Total cash dividend for 2025 is RMB 168,634,139.85 pre-tax. Share buybacks in 2025 amounted to 2,415,600 shares, costing RMB 17,562,015.28 (excluding transaction fees).

In total, 2025 cash dividend plus share buybacks equals RMB 186,196,155.13, 55.59% of net profit. Over the past three years, accumulated cash dividends RMB 399,029,307.45, cancellation via buyback RMB 101,002,394.57, average net profit RMB 207,524,780.26, total cash dividend plus cancellation RMB 500,031,702.02, above 30% of average net profit, demonstrating sustained shareholder returns.

Financials remain solid: debt ratios for 2023-2025 are 43.44%, 46.39%, 50.14% respectively. The company’s distribution model ensures quick cash flow and short collection cycles, with robust credit lines and sufficient cash reserves. The dividend proposal will not impact solvency or operations.

Bullish Points & Potential Impact

• Significant Dividend Increase: 2025 dividend hits a record, highlighting profitability and commitment to shareholders.
• Ongoing Share Buybacks: Repurchased and cancelled shares could boost EPS and stabilize share price.
• Strong Financials: No risk warnings, three-year consistent dividends, clear long-term return plan.
• Clear Shareholder Return Policy: Reasonable proposal balancing growth and returns, attractive to investors.

Important Notes

• This proposal requires shareholder approval; final implementation depends on meeting resolutions.
• If share capital changes, total dividend will remain unchanged and be adjusted accordingly.
• Three-year sustained dividends and buybacks, strong financials, high payout ratio may positively impact share price.

Conclusion

Zhongxing Mushroom Industry’s 2025 profit distribution proposal demonstrates sustained profitability, stable operations, and strong shareholder returns. With increased dividend, ongoing buybacks, and solid financials, the company remains attractive for investors. Watch for shareholder meeting resolutions and implementation updates. The news could positively affect share prices.

Disclaimer: This article is for reference only and does not constitute investment advice. Investors should follow subsequent company announcements and shareholder meeting resolutions and make decisions according to their own risk tolerance. The author is not responsible for any investment losses caused by the content herein.

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