华英农业2025年度利润分配预案详细说明：连续亏损、未分配利润巨额为负，决定不分红

主要内容概述

2026年4月18日，河南华英农业发展股份有限公司（证券代码：002321，简称“华英农业”）董事会发布公告，针对2025年度利润分配方案作出专项说明：公司2025年度将不派发现金红利、不送红股，也不以公积金转增股本。这一决策已通过董事会及审计委员会审议，最终方案还需提交年度股东大会表决。

关键信息及投资者需关注事项

• 2025年度公司净利润为负： 经审计，2025年度公司合并报表归属于上市公司股东的净利润为-5,990.38万元，母公司净利润为-5,749.68万元。
• 累计未分配利润大幅为负： 合并报表期末未分配利润为-401,651.80万元，母公司报表期末未分配利润为-395,426.49万元。公司已连续多年累计亏损，导致无法进行现金分红或红股派发。
• 连续三年未分红、回购： 最近三个会计年度，公司累计现金分红和回购注销金额均为0，三年平均净利润为-1,979.34万元。
• 不触及退市及其他风险警示红线： 虽然公司持续亏损，但由于净利润及未分配利润均为负值，公司不触及《深圳证券交易所股票上市规则》第9.8.1条关于其他风险警示的规定。
• 经营压力及资金需求： 公司目前主营食品及羽绒业务，业务发展需要大量资金支持。董事会认为当前阶段保留资金对公司未来发展更为重要。
• 分配预案合法合规，有利于长远发展： 审计委员会及董事会均认为本次利润分配预案符合相关法律法规和公司章程，不存在损害中小股东利益的情况。
• 最终实施需经年度股东大会审议通过。

可能对股价产生影响的因素分析

本公告显示，华英农业已陷入持续亏损和巨额未分配利润为负的窘境，2025年利润分配方案继续选择不分红，显示公司经营压力依旧较大，现金流紧张。连续多年未分红，可能会影响市场对公司投资价值的认同，特别是对依赖分红回报的投资者而言，或将引发股价波动。同时，公司董事会强调未来发展需要大量资金，表明短期内恢复分红的可能性较低。投资者需密切关注公司后续经营改善和资金运作情况。

详细决策流程及程序

1. 2026年4月16日，审计委员会召开会议，全票通过利润分配预案，认为方案合理且合规。
2. 同日，第八届董事会第五次会议全票通过该议案，认同不分红决策有助于保障公司和全体股东的长远利益。
3. 利润分配预案将提交2025年度股东大会最终审议。

结论及投资者建议

华英农业2025年度继续不进行利润分配，反映出公司经营依然处于困境，未来能否扭亏为盈、改善财务状况成为关键。投资者应持续关注公司后续经营情况及股东大会相关决策，谨慎评估投资风险。

备查文件

• 公司第八届董事会第五次会议决议
• 公司第八届董事会审计委员会2026年第二次会议决议

免责声明：本文所述内容基于公司公告及公开资料，不构成任何投资建议。投资者据此操作，风险自负。股市有风险，投资需谨慎。

English Version

HuaYing Agriculture’s 2025 Profit Distribution Plan: No Dividend, Cumulative Losses Remain High

Key Highlights

On April 18, 2026, Henan HuaYing Agriculture Development Co., Ltd. (Stock Code: 002321, “HuaYing Agriculture”) announced that it will not distribute cash dividends, bonus shares, or increase share capital from reserves for 2025. This decision has been approved by both the board and audit committee but still requires shareholder approval at the annual general meeting.

Key Details and Information for Investors

• 2025 Net Losses: Audited results show a net loss attributable to shareholders of RMB -59.90 million on a consolidated basis, and RMB -57.50 million for the parent company.
• Massive Cumulative Unallocated Losses: End-2025 unallocated profits were RMB -4,016.52 million (consolidated) and RMB -3,954.26 million (parent). Multiple years of losses have led to no distributable profit.
• No Dividend or Share Buyback for Three Consecutive Years: Over the past three years, both dividend and share buyback totals have remained at zero, with a three-year average net loss of RMB -19.79 million.
• No Trigger of Delisting or Other Risk Warnings: Despite ongoing losses, the company does not trigger Shenzhen Stock Exchange Rule 9.8.1 on other risk warnings, since both profit and retained earnings are negative.
• Operational & Capital Pressure: The company’s food and down (feather) businesses require significant capital. The board believes retaining cash is critical for sustainable development at this stage.
• Plan is Legal, Compliant, and Considered Fair: Both audit committee and board believe the decision is compliant, reasonable, and does not harm minority shareholders.
• Final Approval Pending at AGM.

Potential Impact on Share Price

This announcement confirms HuaYing Agriculture’s continued financial distress, with no dividend for 2025 and significant negative retained earnings. Persistent non-distribution of dividends may hurt market confidence, especially among shareholders seeking dividend returns, and could result in share price volatility. The company’s emphasis on capital preservation suggests little hope for dividends in the near term. Investors should closely monitor ongoing business improvements and capital management.

Decision Process

1. On April 16, 2026, the audit committee unanimously approved the profit distribution plan as reasonable and compliant.
2. The same day, the board also gave unanimous approval, highlighting the plan’s alignment with company and shareholder interests.
3. The plan awaits final approval at the 2025 AGM.

Conclusion and Investor Advice

HuaYing Agriculture’s continued suspension of profit distribution reflects ongoing operational difficulties. The key for investors will be whether the company can turn around its financial performance. Caution is advised.

Reference Documents

• Resolutions from the 8th Board’s 5th Meeting
• Resolutions from the 8th Board Audit Committee’s 2nd Meeting in 2026

Disclaimer: This article is based on company disclosures and public information, and does not constitute investment advice. Investors should exercise caution and bear all risks.

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