安徽皖通高速公路股份有限公司公布2025年度利润分配方案，拟每股派息0.66元，分红比例创新高
主要内容提要
- 每股分红：公司计划2025年度每股派发现金红利人民币0.660元（含税）。
- 分红总额：基于2025年12月31日总股本1,708,591,889股，合计分红总额为人民币1,127,670,646.74元（含税）。
- 分红比例：本年度现金分红总额占归属于上市公司股东净利润的60.06%，显著高于三年平均分红比例。
- 未分配利润：截至2025年12月31日，母公司报表未分配利润高达人民币111.96亿元。
- 会计准则：利润分配以境内外会计准则中可供分配利润孰低者为准，本年度为人民币134,527万元。
- 公司经营稳健：三年累计现金分红31.56亿元，分红政策持续稳定，未涉及股份回购注销计划。
- 尚需股东大会审议：该分红方案需提交公司年度股东大会审议通过，分红派发将在获批后两个月内完成。
- 风险警示：本次分红方案未触及上海证券交易所股票上市规则中关于其他风险警示的情形。
投资者须知及潜在影响
- 高分红比例或提振股价：公司本年度分红率高达60.06%，远超30%的监管要求，且三年平均分红比例高达181.88%。这样的高分红政策将有望增强投资者信心，对公司股价形成正面支撑。
- 充足利润保障未来分红：公司未分配利润超过111亿元，为未来持续高比例分红提供坚实基础。
- 分红基数动态调整：如在实施权益分派的股权登记日前公司总股本发生变动，将维持每股分配比例不变，相应调整分红总额，有助于保证股东权益公平。
- 公司经营稳健，分红稳定：皖通高速近三年未进行过股份回购或注销，表明公司注重现金分红回馈股东，分红政策具可预测性。
- 分红尚需股东大会通过：方案已获董事会全票通过，接下来需提请2025年年度股东大会表决。股东应密切关注分红实施公告以获悉最终分红登记日和派息时间。
- 无重大风险警示：公司表示本次分红不会影响其经营现金流和长期发展，亦未触及任何可能被实施其他风险警示的情形，风险可控。
详细数据回顾
| 项目 |
2025年度 |
2024年度 |
2023年度 |
| 现金分红总额（元） |
1,127,670,646.74 |
1,031,989,500.95 |
996,824,610.00 |
| 归属于上市公司股东净利润（元） |
1,877,443,900.82 |
1,668,981,126.49 |
1,659,928,716.34 |
| 母公司未分配利润（元） |
11,196,047,628.54 |
— |
— |
| 三年累计现金分红（元） |
3,156,484,757.69 |
| 三年平均净利润（元） |
1,735,451,247.88 |
| 三年平均分红比例 |
181.88% |
公司治理与决策流程
- 利润分配方案已于2026年3月25日经董事会审计委员会会议审议通过，认为符合公司章程及股东回报规划，不影响正常经营与未来发展。
- 2026年3月27日，第十届董事会第二十四次会议全票通过利润分配方案，并同意提交2025年年度股东大会审议。
- 公司承诺股东大会审议批准后两个月内完成2025年度现金红利派发，具体时间以权益分派实施公告为准。
总结
皖通高速2025年度分红方案以高分红比例和充足利润储备为亮点，显示公司稳健的经营和对投资者的积极回报态度，或将受到市场高度关注。投资者宜密切关注后续股东大会及派息进展，提前做好投资决策规划。
免责声明：本报道仅供参考，不构成投资建议。投资决策应依据个人判断并咨询专业人士。公司分红方案尚需股东大会批准，请以公司后续公告为准，市场存在不确定性，投资需谨慎。
English Version
Anhui Expressway Announces 2025 Dividend Plan: RMB 0.66 Per Share, Payout Ratio Hits New High
Key Points
- Dividend per Share: The company plans to pay a cash dividend of RMB 0.66 (pre-tax) per share for FY2025.
- Total Dividend: With a total share capital of 1,708,591,889 shares as of December 31, 2025, the planned total dividend payout amounts to RMB 1,127,670,646.74 (pre-tax).
- Payout Ratio: This year’s cash dividend is 60.06% of attributable net profit, significantly higher than the three-year average payout ratio.
- Undistributed Profits: As of end-2025, undistributed profits at the parent company level reached RMB 11.196 billion, providing strong support for future dividends.
- Accounting Standards: Dividends are based on the lower of distributable profits calculated under PRC and HK accounting standards, which is RMB 1.34527 billion for 2025.
- Stable Operations: The company paid over RMB 3.15 billion in dividends over the past three years, with no share buybacks or cancellations, signaling stable dividend policy.
- Shareholder Approval Pending: The plan requires approval at the annual general meeting; payment will be made within two months after approval.
- No Major Risk Warnings: The distribution plan does not trigger any other risk warnings under Shanghai Stock Exchange listing rules.
Investor Considerations & Potential Impact
- High Payout Ratio May Lift Share Price: At 60.06%, the payout ratio far exceeds the regulatory 30% minimum and three-year average hits 181.88%. Such generous dividends could boost market confidence and support the share price.
- Ample Undistributed Profits: With more than RMB 11 billion in undistributed profits, future dividends are well supported.
- Dynamic Dividend Base: If the share capital changes before the record date, the per-share dividend will remain unchanged, with total payout adjusted accordingly, ensuring fairness.
- Stable, Predictable Policy: No buybacks or cancellations for three years—cash dividends are the main way of rewarding shareholders, underlining policy stability.
- Shareholder Approval Required: The plan has been unanimously approved by the Board and will be submitted to the 2025 AGM. Shareholders should monitor official announcements for final record and payment dates.
- No Major Risk Warnings: The company states the dividend plan will not affect operating cash flow or long-term development, and no other risk warning conditions are triggered—risks are deemed controllable.
Detailed Data Overview
| Item |
2025 |
2024 |
2023 |
| Total Cash Dividend (RMB) |
1,127,670,646.74 |
1,031,989,500.95 |
996,824,610.00 |
| Net Profit Attributable to Shareholders (RMB) |
1,877,443,900.82 |
1,668,981,126.49 |
1,659,928,716.34 |
| Undistributed Profits (Parent, RMB) |
11,196,047,628.54 |
— |
— |
| 3-year Cumulative Dividend (RMB) |
3,156,484,757.69 |
| 3-year Average Net Profit (RMB) |
1,735,451,247.88 |
| 3-year Average Payout Ratio |
181.88% |
Governance & Decision Process
- The dividend proposal was approved by the Board’s Audit Committee on March 25, 2026, deemed compliant with regulations and the company’s shareholder return plan, and not detrimental to operations or development.
- On March 27, 2026, the Board unanimously approved the plan, which will be submitted to the 2025 AGM.
- The company commits to distributing the 2025 dividend within two months after AGM approval; specific dates will be published in the distribution implementation notice.
Summary
Anhui Expressway’s 2025 dividend plan stands out for its high payout ratio and ample profit reserves, highlighting stable management and a strong commitment to shareholder returns. The plan is likely to attract market attention; investors should monitor developments and plan accordingly.
Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should make their own decisions and consult professionals where appropriate. The dividend plan is subject to shareholder approval; please refer to official company announcements for final details. Investment involves risk.
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