山东中锐产业发展股份有限公司发布2025年度利润分配预案：不进行利润分配，净利润连续三年为负

要点摘要：

• 公司董事会通过2025年度利润分配预案，拟不分红且不转增股本。
• 2025年度归属于上市公司股东净利润为-2.55亿元，母公司净利润为-2,953.42万元，均为负数。
• 截至2025年末，合并报表及母公司报表未分配利润均为大额负数，分别为-24.81亿元和-20.35亿元。
• 公司已连续三年未进行现金分红，且三年净利润均为负值。
• 本次不分红方案尚需股东大会审议通过。
• 公司2021年曾有回购注销股份行为，但现金分红始终为零。
• 公司未触及深交所实施其他风险警示的情形。

详细内容：

2026年4月16日，山东中锐产业发展股份有限公司（以下简称“中锐股份”）召开第七届董事会第三次会议，审议通过了《2025年度利润分配预案》。董事会决定，鉴于公司2025年度财务状况，公司将不进行利润分配，也不进行资本公积金转增股本。该议案仍需提交2025年年度股东大会审议。

经和信会计师事务所（特殊普通合伙）审计，2025年度公司合并财务报表显示，归属于上市公司股东的净利润为-255,394,205.37元（约2.55亿元亏损），期末未分配利润为-2,480,607,453.88元（约24.81亿元亏损）。母公司报表净利润为-2,953.42万元，期末未分配利润为-2,034,796,768.89元（约20.35亿元亏损）。根据深交所相关规定，上市公司利润分配须以母公司报表可供分配利润为准，且分配比例不得超过可分配利润。本公司母公司期末未分配利润为负数，因此2025年度不进行利润分配，也不转增股本，符合监管要求和《公司章程》规定。

进一步的数据披露显示，公司2023-2025年连续三年净利润均为负，分别为-2.56亿元、-1.61亿元和-2.55亿元。近三年累计现金分红总额为0元，累计回购注销总额为6,332,165元（主要为2021年回购注销2,744,500股）。这表明公司已连续三年未派发现金分红，且业绩持续亏损，显示出经营压力巨大。

值得注意的是，尽管公司经营持续亏损并未分红，但并未触及《深圳证券交易所股票上市规则》第9.8.1条规定的其他风险警示情形。公司表示，当前利润分配政策系基于经营实际和长期发展规划所作，旨在保障公司稳健运营。

投资者关注事项（可能影响股价）：

• 利润持续大额亏损：公司连续三年巨额亏损，累计未分配利润大幅为负，反映出公司经营面临较大挑战，投资者应关注公司未来盈利能力及持续经营能力。
• 不分红或影响市场情绪：公司连续三年未分红，可能对市场投资信心造成进一步冲击，压制股价表现。
• 尚未触及退市及其他风险警示：尽管业绩表现堪忧，但公司目前未被实施其他风险警示，尚未面临退市风险。
• 回购注销行为有限：2021年公司曾小规模回购注销股份，但未持续进行，显示公司现金流状况或较为紧张。
• 后续需关注年度股东大会决议：本次利润分配预案仍需股东大会审议，投资者应关注相关会议进展及后续经营措施。

结论

本次公告明确传递出公司业绩持续承压，暂无分红计划，或将对投资者信心和公司股价形成负面影响。建议投资者持续关注公司后续经营情况和年度股东大会表决结果，密切评估公司财务稳定性及未来发展措施。

免责声明：本文内容仅供参考，不构成任何投资建议。投资有风险，入市需谨慎。请投资者根据自身风险承受能力及实际情况做出投资决策。

Shandong Zhongrui Industrial Development Co., Ltd. Announces No Dividend Plan for 2025; Net Losses Continue

Key Points:

• The Board has approved the 2025 profit distribution plan: No dividends and no capital reserve to share conversion.
• Net profit attributable to shareholders for 2025 is -255 million yuan; parent company net profit is -29.53 million yuan, both negative.
• As of year-end 2025, retained earnings at both consolidated and parent company levels are deeply negative, at -2.48 billion yuan and -2.03 billion yuan, respectively.
• No cash dividends for the past three years, and net profits have been negative each year.
• The no-dividend plan is pending approval at the Annual General Meeting.
• The company repurchased shares and cancelled them in 2021, but has not paid any cash dividends.
• No regulatory risk warning has been triggered under the Shenzhen Stock Exchange rules.

Details:

On April 16, 2026, Shandong Zhongrui Industrial Development Co., Ltd. (SZSE: 002374) held its 7th Board’s third meeting and passed the 2025 profit distribution proposal. Given the company’s ongoing losses, the Board decided not to distribute profits or convert the capital reserve to shares for 2025. This proposal will be submitted to the 2025 Annual Shareholders’ Meeting for approval.

According to the audit by Hexin Certified Public Accountants, the company’s consolidated net profit attributable to shareholders for 2025 was a loss of 255,394,205.37 yuan. Year-end retained earnings were negative 2,480,607,453.88 yuan. The parent company’s net profit was -29.53 million yuan, with retained earnings at the end of the year at -2.03 billion yuan. According to SZSE listing rules, profit distribution is based on the parent company’s distributable profit, applying the lower of the consolidated and parent company profits. Since both are negative, the company will neither pay dividends nor convert capital reserve to share capital, in line with regulations and the company’s Articles of Association.

Additional disclosures show that for the past three years (2023-2025), the company has consistently reported net losses (-256 million, -161 million, and -255 million yuan, respectively) and has not paid any cash dividends. The only shareholder return action was a share repurchase and cancellation in 2021, involving 2.74 million shares. This reflects significant ongoing operational pressure.

Importantly, although the company has reported substantial losses and no cash dividends, it has not triggered other regulatory risk warnings (such as delisting or ST status) under SZSE rules. The company states that its profit distribution policy is based on operational realities and long-term planning to ensure sustainable development.

Investor Implications (Potential Share Price Impact):

• Ongoing Large Losses: Three consecutive years of heavy losses and deeply negative retained earnings highlight operational challenges; investors should be cautious about the company’s future profitability and going concern risks.
• No Dividends May Affect Sentiment: The ongoing lack of dividends may further undermine market confidence and suppress the share price.
• No Regulatory Warnings Yet: Despite poor performance, the company has not yet been flagged for delisting or other risk warnings.
• Limited Buyback/Redemption: The only significant shareholder return was a small share cancellation in 2021, suggesting a tight cash position.
• Awaiting Shareholder Meeting Decision: The no-dividend plan still requires approval at the shareholders’ meeting; investors should monitor the meeting outcome and subsequent management actions.

Conclusion

This announcement signals that the company continues to face significant financial pressure, with no dividends planned for 2025, which may negatively affect investor confidence and the company’s stock price. Investors are advised to closely monitor the company’s ongoing operations and the results of the upcoming shareholders’ meeting.

Disclaimer: The content above is for informational purposes only and does not constitute investment advice. Please make investment decisions based on your own risk tolerance and circumstances. Investment involves risks.

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