威胜信息2025年度差异化分红专项法律意见详解

主要内容概览

威胜信息技术股份有限公司（以下简称“威胜信息”或“公司”）委托北京市金杜律师事务所，就公司2025年度利润分配涉及的差异化分红事项，出具了专项法律意见。本报告涵盖了公司回购股份、利润分配方案、差异化分红的计算方式及其对除权除息价格的影响，并对合法合规性进行了详细论证。

关键信息摘要

• 股份回购：公司于2025年1月14日董事会通过A股回购方案，回购资金总额在1亿元至1.5亿元人民币，回购价格上限由最初35元/股调整至40元/股，后又因分红调整至39.48元/股。最终通过集中竞价方式回购股份4,231,424股，全部用于股权激励或员工持股计划。
• 差异化分红安排：回购专用账户中的股份不参与利润分配。公司拟以实施权益分派股权登记日登记的总股本扣除回购专用证券账户中的股份为基数，向全体股东每10股派发现金红利3元（含税），不送红股、不进行资本公积转增股本。
• 分红总额及基数：以2026年1月31日总股本491,685,175股，扣除回购专用证券账户股份4,231,424股后，实际分配基数为487,453,751股，合计派发现金红利146,236,125.30元（含税）。
• 除权除息影响：本次差异化分红对除权除息参考价格影响极小，按2026年3月20日收盘价36.67元/股测算，影响绝对值仅为0.0071%，远低于1%，对股价影响极小。
• 法律合规性：金杜律师事务所认为本次差异化分红完全符合相关法律法规及公司章程规定，不存在损害公司及全体股东利益的情形。

对股东的影响及潜在股价影响要点

• 回购股份不参与分红：参与本次分红的股份数实际减少，实际派发现金红利总额有所减少，但每股分红金额稳定在0.3元/股。
• 分红方案稳定：现金分红方案明确且不涉及送股或转增，表明公司现金流稳健、回馈股东的积极意愿。
• 对除权除息价格影响极小：实际分红与虚拟分红计算口径仅有微小差异，除权除息价格变动微乎其微，不会造成二级市场价格大幅波动。
• 回购用于股权激励：已回购股份将用于未来员工激励或持股计划，显示公司对人才激励机制的重视，有助于公司长期发展。

投资者特别关注事项

• 本次分红方案表明公司有稳定利润分配政策和现金流保障，释放利好信号，有利于提升投资者信心。
• 回购股份未来用于股权激励，将有助于提升公司治理和员工积极性，可能对公司长期成长产生正面影响。
• 差异化分红对短期股价影响有限，但显示公司合规运作、规范治理，长期有助于公司价值提升。
• 目前未发现任何损害中小股东利益的情形，法律合规性明确。

结论

威胜信息2025年度差异化分红方案体现了公司良好的利润分配能力和稳健的经营作风，回购股份用于激励机制亦显示出对长期发展的关注。虽然本次差异化分红对除权除息价格的影响极小，但公司分红政策的持续稳定和股权激励安排对公司长期价值和投资者信心具有积极意义。

免责声明：本文基于公开文件整理，仅供投资参考，不构成任何投资建议。投资有风险，入市需谨慎。作者不对因使用本文内容造成的任何损失负责。

English Version

Detailed Analysis: Weisheng Information’s 2025 Differentiated Dividend Legal Opinion

Key Report Highlights

• Share Buyback: On January 14, 2025, the board approved an A-share buyback plan, with a total repurchase fund between RMB 100 million and RMB 150 million. The buyback price cap was raised from RMB 35 to RMB 40 per share, and after the annual dividend, adjusted to RMB 39.48 per share. In total, 4,231,424 shares were repurchased via centralized bidding, all to be used for employee incentive or stock ownership plans.
• Differentiated Dividend Arrangement: Shares held in the buyback account do not participate in the dividend. The company will distribute a cash dividend of RMB 3 (pre-tax) for every 10 shares, based on the total share capital on the equity registration date minus shares in the buyback account. No stock dividends or capital reserve transfers will be made.
• Total Dividend and Base: As of January 31, 2026, total share capital was 491,685,175 shares. After deducting 4,231,424 buyback shares, 487,453,751 shares are eligible for the dividend. Total cash dividends distributed will be RMB 146,236,125.30 (pre-tax).
• Impact on Ex-Dividend Price: The impact of this differentiated dividend on the ex-dividend reference price is minimal. Using the closing price on March 20, 2026 (RMB 36.67), the absolute change is just 0.0071%, well below 1%—thus, the impact on the share price is negligible.
• Legal Compliance: King & Wood Mallesons confirms the differentiated dividend fully complies with all applicable laws and the company’s articles, with no harm to company or shareholder interests.

What Shareholders Need to Know & Price-Sensitive Points

• Buyback Shares Not Eligible for Dividends: The number of shares participating in the dividend is reduced, lowering the overall cash paid out but maintaining the per-share dividend at RMB 0.3.
• Stable Dividend Policy: The policy is clear—cash dividends only, no stock dividends or capital reserve conversions—demonstrating robust cash flow and a proactive approach to rewarding shareholders.
• Minimal Impact on Ex-Dividend Price: The difference between actual and virtual dividend calculations is negligible; no significant market price fluctuation is expected.
• Buyback for Incentives: Repurchased shares will be used for future employee incentives, supporting long-term growth and talent retention.

Investor Takeaways

• The dividend plan shows stable profit distribution and cash flow, which is a positive signal for investors.
• Future use of repurchased shares for incentives may enhance corporate governance and employee motivation, supporting long-term value creation.
• The differentiated dividend has little short-term price impact but underscores regulatory compliance and sound governance, benefiting long-term value.
• No harm to minority shareholders; legal compliance is clear.

Conclusion

Weisheng Information’s 2025 differentiated dividend plan demonstrates solid profit distribution capacity and prudent management. The buyback for incentive plans highlights a focus on long-term development. Though the immediate price impact of the differentiated dividend is minimal, the stable distribution policy and planned use of repurchased shares are positives for long-term value and investor confidence.

Disclaimer: This article is based on public documents and is for informational purposes only. It does not constitute investment advice. Investing involves risks; please exercise caution. The author is not responsible for any losses arising from use of this content.

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