兴发集团发布2025年度利润分配预案，拟每10股派息5元
兴发集团发布2025年度利润分配预案，拟每10股派息5元
一、公告要点
- 每10股派现5元（含税），分红比例高，显示公司回馈股东的积极态度。
- 本次分红以权益分派登记日登记的总股本为基数，具体实施时间将在后续公告明确。
- 若股权登记日前公司总股本发生变动，每股分配比例不变，但分配总额将调整。
- 本次分配方案不涉及送红股及以资本公积金转增股本。
- 公司表示本次利润分配不触及《股票上市规则》9.8.1条第一款第（八）项关于实施其他风险警示的情形。
二、详细内容解读
根据公告，截至2025年12月31日，母公司报表未分配利润为66.21亿元。公司计划以实施权益分派登记日的总股本为基数进行利润分配。
截至2026年4月2日，公司总股本为12.017亿股，回购专用账户持有股份557.62万股，扣除回购股份后实际参与分红的股份为11.96亿股。据此，预计本次现金红利派发总额为5.98亿元（含税），占2025年度归属于上市公司股东净利润的40.08%。
公司强调，回购股份不参与分红，若未来总股本发生变化，仅调整分配总额，每股派息比例保持不变。
三、历年分红及盈利情况
| 项目 |
2025年度 |
2024年度 |
2023年度 |
| 现金分红总额（元） |
598,081,828.5 |
1,103,255,194 |
661,952,749.2 |
| 回购注销总额（元） |
200,049,114.15 |
– |
– |
| 归属于上市公司股东净利润（元） |
1,492,051,474.43 |
1,601,382,109.67 |
1,400,664,156.21 |
| 母公司报表未分配利润（元） |
6,621,247,007.82 |
– |
– |
最近三年累计现金分红23.63亿元，回购注销2亿元，合计26.63亿元，三年平均净利润为14.98亿元，累计分红及回购注销占比高达171.11%，远高于监管要求的30%，显示公司持续重视股东回报。
四、决策流程及后续安排
2026年4月2日，公司董事会已审议通过该利润分配预案，表决结果为13票同意，无反对或弃权。该方案尚需提交2025年度股东大会审议通过后方可实施。
五、投资者需关注的重要事项与潜在影响
- 此次分红比例高，现金分红金额大，且公司近三年持续高比例分红，显示公司现金流较为充裕，有助于提升市场信心。
- 分红实施前，若公司进行股份回购或增发，将影响实际分红总额，但每股分红比例不变。
- 公司表示分红不会影响正常经营和长期发展，资金安排已充分考虑生产经营及项目建设。
- 该分红方案如获股东大会通过，对股价有积极催化作用，属于实质性利好。
六、风险提示
- 利润分配方案尚需股东大会通过，存在不通过的可能性。
- 投资者需关注后续权益分派实施公告与股权登记日等重要时间节点。
免责声明： 本文仅为信息披露和投资参考，并不构成任何投资建议。投资有风险，入市需谨慎。
English Version
Xingfa Group Announces 2025 Dividend Proposal: RMB 5 Cash Dividend for Every 10 Shares
Key Highlights
- Proposed cash dividend of RMB 5 (pre-tax) for every 10 shares, indicating a high payout ratio and the company’s commitment to shareholder returns.
- The distribution is based on the total share capital registered on the equity registration date, with the exact date to be announced later.
- If there is any change in the total share capital before the record date, the per-share payout ratio will remain unchanged, but the aggregate payout amount will be adjusted.
- No bonus shares or capital reserve conversion to share capital in this proposal.
- The company confirms that this plan does not trigger risk warnings under the Shanghai Stock Exchange Listing Rules 9.8.1 (8).
Detailed Analysis
As of December 31, 2025, the parent company’s undistributed profits stood at RMB 6.62 billion. The distribution will be based on the total share capital on the record date.
As of April 2, 2026, the company had a total share capital of 1,201,739,857 shares, with 5,576,200 shares held in the repurchase account. After excluding these, approximately 1,196,163,657 shares are eligible for dividends. The projected total cash dividend is approximately RMB 598 million (pre-tax), representing 40.08% of 2025 attributable net profit.
Repurchased shares will not participate in profit distribution. If the share capital changes before the ex-dividend date, only the aggregate cash dividend will be adjusted, with the per-share payout unchanged.
Historical Dividends and Profitability
| Item |
2025 |
2024 |
2023 |
| Cash Dividend (RMB) |
598,081,828.5 |
1,103,255,194 |
661,952,749.2 |
| Share Repurchase & Cancellation (RMB) |
200,049,114.15 |
– |
– |
| Net Profit Attributable to Shareholders (RMB) |
1,492,051,474.43 |
1,601,382,109.67 |
1,400,664,156.21 |
| Undistributed Profit (RMB) |
6,621,247,007.82 |
– |
– |
Over the past three years, the company has paid out a cumulative RMB 2.36 billion in cash dividends and RMB 200 million in share repurchases/cancellations, totaling RMB 2.56 billion. The average net profit for the last three years is RMB 1.5 billion, with a cumulative payout ratio of 171.11%, well above the regulatory requirement of 30%.
Decision Process & Next Steps
On April 2, 2026, the Board approved the dividend proposal unanimously (13 votes in favor, none against or abstained). The plan must be approved at the 2025 Annual Shareholders Meeting before implementation.
Key Risks and Potential Share Price Impact
- High payout and consistent dividends reflect strong cash flows and a solid commitment to shareholders, which may positively impact the stock price.
- Any share repurchase or issuance before the record date will affect the total payout but not the per-share ratio.
- The company has confirmed that the dividend will not affect normal operations or long-term development.
- If approved by the shareholders’ meeting, this dividend plan is a clear positive catalyst for the share price.
Risk Warning
- The profit distribution plan is subject to shareholder approval and may not be implemented if not passed.
- Investors should pay attention to subsequent announcements regarding the record date and dividend implementation.
Disclaimer: This article is for information purposes only and does not constitute investment advice. Please be aware of investment risks.
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