北方国际2025年度利润分配方案公告详解

一、报告要点与利润分配方案概述

北方国际合作股份有限公司（证券代码：000065）于2026年3月27日召开九届十九次董事会，审议并通过了2025年度利润分配方案，该方案需提交2025年度股东大会审议。

• 2025年度合并归属于上市公司股东的净利润为 723,310,917.63元，母公司净利润为 562,566,906.88元。
• 年末母公司未分配利润达 2,781,215,333.37元。
• 以2026年3月27日股本总数 1,161,442,159股 为基数，向全体股东每 10股派发现金红利1.37元（含税），预计总派息 159,117,575.78元。
• 现金分红总额仅占2025年度归属于上市公司股东净利润的 22.00%。

二、重要事项与潜在影响

• 现金分红比例低于30%：公司解释原因主要为国际工程项目周期长、资金周转率低，需留存资金保障项目履约与日常运营。同时，公司计划在国际工程和清洁能源领域拓展投资并购，需保留利润以支持转型升级与战略扩张。
• 未分配利润用途：留存利润将用于在建项目执行、海外投资及偿还银行贷款。公司承诺充分利用利润提升盈利能力，为股东创造更大回报。
• 投资者回报措施：公司将通过业务拓展和盈利提升增强投资者回报，承诺逐步提升分红比例并维持长期稳定回报机制。
• 中小股东决策便利：公司将在年度业绩说明会详细解释分红方案，并在股东大会采用现场与网络投票方式，保障中小股东参与。
• 财务稳健性：公司最近三个年度累计现金分红总额为 409,267,966.13元，占三年平均净利润 45.63%，不触及深交所风险警示规定。
• 交易性金融资产占比极低：2025、2024年相关资产分别仅占总资产0.50%和1.54%，显示公司资产结构稳健。
• 分红方案如股本变动将调整总额：若实施权益分派登记日公司总股本发生变动，将维持每股分配金额不变并调整分配总额。

三、对股东和股价的潜在影响

• 公司分红比例低于行业普遍水平，资金留存用于未来战略扩张，若投资回报率提升，长期利好，但短期可能影响分红预期，需投资者关注公司转型和投资效果。
• 公司明确分红稳健且财务健康，无风险警示，增强市场信心。
• 战略方向聚焦国际工程、清洁能源和海外投资，若成功有望提升盈利能力和股东回报，未来有望成为股价驱动因素。
• 分红方案最终需股东大会审议，建议中小股东积极参与表决。

四、备查文件与后续安排

• 九届十九次董事会决议已作备查。
• 公司将召开业绩说明会，面向全体股东详细解释分红及战略。
• 利润分配方案最终以股东大会表决结果为准。

五、结论

本次公告显示公司以稳健经营、战略转型为主导，分红比例虽低于行业普遍水平，但资金留存将用于提升公司长期价值。投资者需关注公司战略执行及未来盈利能力，分红方案和企业扩张均可能成为影响股价的重要因素。

免责声明：本文仅为信息解读，不构成投资建议。投资者应结合自身风险偏好和公司后续公告作出决策。

English Version

Detailed Analysis of Northern International’s 2025 Profit Distribution Plan Announcement

1. Key Points and Overview of the Profit Distribution Plan

Northern International Cooperation Co., Ltd. (Stock Code: 000065) convened its 19th session of the ninth board of directors on March 27, 2026, approving the 2025 profit distribution plan, which will be submitted to the 2025 Annual General Meeting.

• 2025 consolidated net profit attributable to shareholders: RMB 723,310,917.63; parent company net profit: RMB 562,566,906.88.
• Year-end undistributed profits of the parent company: RMB 2,781,215,333.37.
• Based on the total shares as of March 27, 2026 (1,161,442,159 shares), a cash dividend of RMB 1.37 (tax included) per 10 shares will be distributed to all shareholders, with a total expected dividend payout of RMB 159,117,575.78.
• Cash dividend amount is only 22.00% of the 2025 net profit attributable to shareholders.

2. Major Issues and Potential Impact

• Cash Dividend Ratio Below 30%: The company explains this is due to lengthy project cycles, low capital turnover, and the need to retain funds for project fulfillment and daily operations. The company plans further expansion in international engineering and clean energy, requiring retained earnings to support strategic transformation and expansion.
• Use of Retained Earnings: Retained profits will be used for ongoing projects, overseas investment, and loan repayment, aiming to enhance operational quality and shareholder returns.
• Measures to Enhance Shareholder Returns: The company will boost investor returns through business expansion and profitability improvement, promising to gradually increase dividend ratio and maintain a stable, long-term return mechanism.
• Convenience for Minority Shareholders: The company will hold an annual performance briefing to explain the dividend plan, and the shareholder meeting will allow both onsite and online voting, ensuring minority shareholders can participate.
• Financial Stability: In the past three years, cumulative cash dividends totaled RMB 409,267,966.13, accounting for 45.63% of the three-year average net profit, and the company does not trigger any risk warning rules.
• Very Low Proportion of Financial Assets: In 2025 and 2024, trading financial assets accounted for just 0.50% and 1.54% of total assets, reflecting a sound asset structure.
• Adjustment for Share Changes: If the total share capital changes at the equity distribution registration date, the per-share distribution remains unchanged and the total amount will be adjusted.

3. Potential Impact on Shareholders and Share Price

• The dividend ratio is below industry average; retained funds are used for future expansion. If investment yields improve, it’s positive long-term, but may affect short-term dividend expectations. Investors should watch for execution of company transformation and investments.
• The company demonstrates stable dividends and healthy finances, boosting market confidence.
• Strategic focus on international engineering, clean energy, and overseas investment; successful execution could boost profitability and shareholder returns, potentially driving share price.
• The dividend plan requires AGM approval; minority shareholders are encouraged to participate.

4. Reference Documents and Follow-up Arrangements

• The resolution of the 19th session of the ninth board is available for review.
• The company will hold a performance briefing for all shareholders to explain the dividend and strategy in detail.
• The final profit distribution plan depends on the outcome of the AGM vote.

5. Conclusion

This announcement shows Northern International prioritizing steady operations and strategic transformation. Though the dividend ratio is relatively low, retained funds will be used to enhance long-term company value. Investors should monitor the company’s strategic execution and future profitability, as both the dividend plan and expansion efforts could significantly impact share price.

Disclaimer: This article is for information interpretation only and does not constitute investment advice. Investors should make decisions based on their own risk preferences and subsequent company announcements.

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