首创环保（600008）2025年度利润分配预案详细解析

报告要点

• 每股分红：拟每股派发现金红利0.08元（含税）
• 分红总额：本次分红合计派发现金红利587,247,254.16元（含税）
• 年度分红汇总：2025年度累计分红880,870,881.24元（含税），包括已实施的中期分红293,623,627.08元和本次拟分红587,247,254.16元
• 分红比例：年度分红金额占归属于上市公司股东净利润的比例为49.71%
• 公司总股本：截至2025年12月31日为7,340,590,677股，若期间总股本发生变化，分红总额不变，每股分红比例将调整
• 利润情况：母公司报表未分配利润为2,852,046,871.42元
• 风险警示：公司不触及《上海证券交易所股票上市规则》第9.8.1条第一款第（八）项规定的风险警示情形
• 需股东会审议：本次利润分配方案需提交2025年年度股东会审议

对股东及投资者影响

• 分红政策稳定：首创环保近年来持续高比例现金分红，2023至2025三年累计现金分红达2,862,830,364.03元，分红比例达124.29%，显示公司盈利稳定且重视股东回报。
• 价格敏感信息：本次分红占当年净利润近半（49.71%），且分红总额保持不变，若总股本变动将调整每股分红。这一政策有望提升投资者持股信心，对股价构成支撑。
• 资金安排合理：公司审慎考虑分红与资金需求，分红不会对公司每股收益及经营现金流产生重大影响，不影响正常经营与长期发展。
• 风险提示：如分红方案未获股东会通过，则不会实施；若股本变动，每股分红比例将调整，投资者需关注后续公告。
• 无重大风险警示：公司未触及任何会导致风险警示的情形，分红政策符合监管要求。

详细内容回顾

经大信会计师事务所审计，截至2025年12月31日，首创环保母公司报表未分配利润达28.52亿元，拟以此为基础实施现金分红。公司总股本为73.4亿股，分红总额587,247,254.16元，叠加中期分红全年分红将近8.8亿元，分红比例高，历史分红稳定。若期间公司因可转债转股、股份回购、激励授予或资产重组导致股本变化，分红总额不变，每股分红将调整，具体情况以后续公告为准。分红方案已于2026年4月9日经董事会审议通过，需提交2025年年度股东会审议，敬请投资者关注。

投资者重要提示

• 本次分红方案需股东会审议通过后方可实施，投资者需关注后续进展与公告。
• 分红政策稳定，显示公司持续盈利与重视股东回报，有望提升市场信心。
• 公司未触及重大风险警示，分红政策合规。
• 若股本变动，每股分红比例将调整，关注公告。

免责声明

本文内容基于公司公告和财务数据整理，不构成任何投资建议。投资者需根据自身情况和市场变化审慎决策，风险自担。

Beijing Capital Eco-Environmental Protection Group (600008) 2025 Dividend Plan Detailed Analysis

Key Points

• Dividend per share: Proposed cash dividend of RMB 0.08 per share (tax inclusive)
• Total dividend: Proposed cash dividend total of RMB 587,247,254.16 (tax inclusive)
• Yearly Dividend Summary: 2025 total dividend RMB 880,870,881.24 (tax inclusive), including interim dividend RMB 293,623,627.08 and this proposal RMB 587,247,254.16
• Dividend Ratio: Dividend amount accounts for 49.71% of net profit attributable to shareholders of listed company
• Total shares: As of December 31, 2025, total shares are 7,340,590,677; if shares change, total dividend remains but dividend per share adjusts
• Profit status: Undistributed profit at parent company level is RMB 2,852,046,871.42
• Risk warning: Company does not trigger risk warning under Shanghai Stock Exchange Listing Rules Article 9.8.1 (8)
• Shareholder approval: Dividend plan needs to be approved at the 2025 AGM

Impact on Shareholders and Investors

• Stable dividend policy: Beijing Capital Eco-Environmental Protection has maintained a high dividend payout for three years, with cumulative cash dividend of RMB 2,862,830,364.03 and payout ratio of 124.29%. This shows stable profitability and commitment to shareholder returns.
• Price sensitive information: This dividend accounts for nearly half of net profit (49.71%), and total payout will not change even if total shares change (dividend per share will adjust). This supports investor confidence and may support share price.
• Prudent capital allocation: The company has considered development stage and future capital needs; dividend will not have major impact on earnings per share or cash flow, and does not affect normal operation or long-term growth.
• Risk reminder: If the plan is not approved by the AGM, it will not be implemented. If shares change, dividend per share will be adjusted; investors should monitor further announcements.
• No major risk warning: Company does not trigger any risk warning situation; dividend plan complies with regulatory requirements.

Detailed Review

Audited by DaXin CPA, as of December 31, 2025, undistributed profit at parent company level is RMB 2.85 billion. With total shares of 7.34 billion, proposed dividend is RMB 587 million, plus interim dividend, total dividend for the year is nearly RMB 880 million. If convertible bonds conversion, share buyback, incentive shares, or asset restructuring cause changes in total shares, total payout remains unchanged, dividend per share will be adjusted. The plan was approved by the board on April 9, 2026 and needs to be approved at the 2025 AGM. Investors should pay attention to future updates.

Investor Important Reminders

• The plan requires AGM approval before implementation; investors should monitor subsequent updates and announcements.
• Stable dividend policy signals sustained profitability and commitment to shareholder returns, likely to increase market confidence.
• Company does not trigger major risk warning; dividend policy is compliant.
• If total shares change, dividend per share will be adjusted; monitor updates.

Disclaimer

This article is based on company announcements and financial data and does not constitute investment advice. Investors should make decisions carefully based on their own circumstances and market changes, and assume their own risks.

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