科顺防水科技2025年度利润分配方案公告：每10股派0.6元现金分红

科顺防水科技股份有限公司2025年度利润分配方案公告深度解读

一、公告概览

科顺防水科技股份有限公司（证券代码：300737，科顺转债代码：123216）于2026年4月23日召开董事会，审议通过了《关于2025年度利润分配方案》的议案，并将提交2025年度股东大会审议批准。

二、利润分配方案关键细节

分配基准：以2025年度为基准。
净利润及未分配利润情况：
- 2025年度归属于上市公司股东的净利润为-5.35亿元（亏损）。
- 母公司净利润为1.41亿元。
- 母公司未分配利润为7.25亿元。
- 合并报表未分配利润为9.39亿元。
分红方案：
- 拟以2026年3月31日公司总股本1,109,971,544股为基数，向全体股东每10股派发现金股利0.6元（含税），预计派发现金分红66,598,292.64元（含税）。
- 不送红股，不以资本公积金转增股本。
- 剩余未分配利润结转以后年度。
- 现金分红总额如因股权激励行权、可转债转股、股份回购等导致公司股本变动，将按每股分配比例固定不变原则调整。
年度现金分红汇总：
- 2025年半年度已实施现金分红55,498,500.30元（含税）。
- 加上本次年度分红，全年现金分红总额预计122,096,792.94元。
分红比率：
- 现金分红总额占年度归属于上市公司股东净利润比例为-22.81%（净利润为负）。
- 占年度末合并报表未分配利润比例为13.00%。
- 占年度末母公司未分配利润比例为16.84%。

三、公司财务及分红相关情况

公司近三年分红与回购情况：
- 最近三年累计现金分红总额543,884,488.64元。
- 累计回购注销总额361,058,465.60元。
- 累计现金分红及回购注销总额904,942,954.24元，高于三年平均净利润30%的要求。
净利润与研发投入：
- 2025年度净利润为-535,342,762.09元（净亏损）。
- 年度研发投入252,838,924.63元。
- 三年累计研发投入847,443,039.64元，占累计营业收入比例4.07%。
现金流与财务状况：
- 2025年末货币资金余额2,319,406,225.62元。
- 经营活动现金流净额319,628,020.65元。

四、对投资者的重要影响及风险提示

分红计划在净利润为负情况下依然实施：公司2025年度净利润为负，但母公司及合并报表未分配利润为正，且现金分红及回购注销总额高于年均净利润的30%，不触及创业板风险警示规定。
分红政策合法合规：符合《公司法》、《证券法》及监管要求。
分红必要性：旨在回馈股东，提升资本市场形象。
分红合理性：货币资金充足、留存利润较多，财务稳健，分红能力强。
股东需注意：
- 公司净利润为负，可能影响市场情绪及股价波动。
- 分红方案实施前如公司股本变动，分红总额将按每股比例调整。
- 公司未来投资与分红政策仍需关注。

五、结论

科顺股份在年度亏损情况下仍坚持现金分红，显示公司对未来发展及股东回报的信心。分红政策合法合规，财务状况稳健，未分配利润充足，有助于提升投资者回报及公司资本市场形象。由于净利润为负，这一分红行为可能会引起投资者关注和市场波动，属于值得投资者重点关注的价格敏感信息。

免责声明

本文仅供参考，不构成投资建议。投资者应结合自身情况及市场环境，谨慎决策。

KeShun Waterproof Technology Co., Ltd. 2025 Profit Distribution Plan Detailed Analysis

Overview

KeShun Waterproof Technology Co., Ltd. (Stock code: 300737, Convertible bond code: 123216) convened its board meeting on April 23, 2026, and passed the 2025 profit distribution plan, pending approval by the 2025 annual shareholders’ meeting.

Key Details of the Profit Distribution Plan

Distribution Basis: Based on the 2025 financial year.
Net Profit and Undistributed Profits:
- 2025 net profit attributable to shareholders: -535.34 million RMB (loss).
- Parent company net profit: 141.49 million RMB.
- Parent company undistributed profit: 725.23 million RMB.
- Consolidated undistributed profit: 939.04 million RMB.
Dividend Plan:
- Based on total shares as of March 31, 2026 (1,109,971,544 shares), pays cash dividend of 0.6 RMB (tax included) per 10 shares. Estimated total cash dividend: 66,598,292.64 RMB (tax included).
- No bonus shares, no capital reserve conversion.
- Remaining undistributed profits carried forward.
- If share capital changes before execution (due to ESOP, bond conversion, repurchase), total dividend will be adjusted based on fixed per-share ratio.
Total Cash Dividend for 2025:
- Interim dividend already paid: 55,498,500.30 RMB (tax included).
- Total cash dividend for 2025: 122,096,792.94 RMB.
Dividend Ratios:
- Total cash dividend as a percentage of annual net profit: -22.81% (net profit is negative).
- Percentage of consolidated undistributed profit: 13.00%.
- Percentage of parent company undistributed profit: 16.84%.

Company’s Financials and Dividend-Related Data

Three-year Dividend and Repurchase:
- Three-year cumulative cash dividend: 543,884,488.64 RMB.
- Three-year cumulative repurchase/cancellation: 361,058,465.60 RMB.
- Cumulative total cash dividend and repurchase: 904,942,954.24 RMB, exceeding 30% of three-year average net profit.
Net Profit & R&D Investment:
- 2025 net profit: -535,342,762.09 RMB (loss).
- 2025 R&D investment: 252,838,924.63 RMB.
- Three-year cumulative R&D: 847,443,039.64 RMB (4.07% of cumulative revenue).
Cash Flow and Financial Health:
- 2025 year-end cash balance: 2,319,406,225.62 RMB.
- Operating cash flow: 319,628,020.65 RMB.

Key Impacts and Risks for Investors

Dividend Plan Despite Loss: The company is paying dividends even though 2025 net profit is negative. Both parent and consolidated undistributed profits are positive, and total dividend plus repurchase exceeds regulatory requirements, so no risk warning triggered.
Dividend Policy Compliance: The plan complies with Company Law, Securities Law, and regulatory requirements.
Dividend Necessity: Aims to reward shareholders and enhance capital market image.
Dividend Reasonableness: Sufficient cash, retained profits, and stable finances ensure dividend capability.
Shareholder Attention:
- Loss in net profit may affect market sentiment and share price volatility.
- If share capital changes, dividend total will be adjusted accordingly.
- Future investment and dividend policy should be closely monitored.

Conclusion

KeShun pays dividends despite an annual loss, demonstrating confidence in future development and shareholder returns. The dividend policy is compliant and backed by strong financials and retained profits, supporting investor returns and market image. Net loss may impact market sentiment and share price, making this a price-sensitive event investors should closely watch.

Disclaimer

This article is for informational purposes only and does not constitute investment advice. Investors should make decisions prudently based on their own circumstances and market environment.