达瑞电子（300976）2025年度利润分配及资本公积金转增股本预案公告详细解读

一、公告主要内容及关键点

• 达瑞电子股份有限公司于2026年4月22日召开董事会，审议通过了2025年度利润分配及资本公积金转增股本预案。本预案尚需提交2025年度股东大会审议。
• 2025年度公司实现归属于上市公司股东的净利润为282,154,084.23元，母公司净利润为120,123,398.56元。
• 公司合并报表累计未分配利润为1,271,831,941.53元，母公司报表累计未分配利润为781,214,853.11元。根据利润分配原则，2025年末可供分配利润为781,214,853.11元。
• 拟以实施利润分配及资本公积金转增股本方案时的股权登记日总股本（扣除回购专用证券账户中的股份）为基数，向全体股东每10股派发现金红利人民币7.00元（含税），剩余未分配利润结转以后年度分配；以资本公积金向全体股东每10股转增4股，不送红股。
• 截至公告披露日，公司总股本为134,104,216股，已回购股份为1,534,893股。实际分配基数为132,569,323股。预计共派发现金股利约92,798,526.10元（含税），共转增53,027,729股，预计转增后公司总股本将增至187,131,945股。
• 现金分红和股份回购金额合计120,794,735.83元，占本年度归属于上市公司股东净利润的42.81%。
• 若在分配方案披露后至实施权益分派的股权登记日期间，公司总股本基数发生变化，则按照“每股分配（转增）比例不变，调整分配（转增）总额”原则进行调整。

二、对股东的重要影响与可能影响股价的事项

• 高比例现金分红：公司2023、2024、2025年度累计现金分红金额达218,298,010.13元，远高于最近三年年均净利润的30%，显示公司重视股东回报，或有利于投资者信心提升。
• 资本公积金转增股本：每10股转增4股，转增后总股本大幅增加至187,131,945股，有助于提升流动性，但也可能对股价形成一定稀释压力，需投资者关注。
• 回购股份不参与分红与转增：回购专用证券账户中的股份不参与本次利润分配和资本公积金转增股本，实际分配基数为132,569,323股。
• 分红及回购金额占净利润比重高：本年度现金分红及回购金额合计占净利润的42.81%，显示公司现金流充裕且分红政策积极。
• 财务健康：2024、2025年度公司各类金融资产合计占总资产比例分别为23.47%、21.39%，均远低于50%，表明公司资产结构健康，未触及创业板风险警示情形。
• 研发投入持续增长：2025年度研发投入达127,390,472.20元，显示公司持续投入创新，有利于长期成长性。
• 未触及创业板风险警示条款：公司未触及《深圳证券交易所创业板股票上市规则》第9.4条规定的其他风险警示情形。

三、投资者需关注的具体事项

• 现金分红和转增股本均以扣除回购股份后的股本为基数，需关注回购股份变动对最终分红和转增数量的影响。
• 高比例分红和转增可能提升市场关注度，但也需关注转增后股本扩张对每股收益的影响。
• 公司经营和财务状况稳健，分红政策积极，若持续保持可能带来股价正面推动。
• 公司未触及风险警示情形，分红政策符合监管要求，且未出现与财务健康相关的负面信号。

四、结论

达瑞电子公布的2025年度利润分配及资本公积金转增股本预案，显示公司业绩稳健、重视股东回报、资产结构健康且持续投入研发。高比例现金分红和大规模转增股本，均为投资者关心的价格敏感事项。公司政策积极，未触及风险警示条款，整体利好股价。

免责声明：本文仅供参考，不构成任何投资建议。投资者需结合自身风险偏好和市场情况做出决策。公司如有后续公告或股权变动，分红和转增方案或将调整。

English Version

Detailed Analysis of Dary Electronics (300976) 2025 Dividend Distribution and Capital Reserve Share Increase Proposal

1. Key Points of the Announcement

• Dary Electronics held a Board meeting on April 22, 2026, and approved the 2025 dividend and capital reserve share increase proposal, pending shareholder meeting approval.
• Net profit attributable to shareholders for 2025: RMB 282,154,084.23; Parent company net profit: RMB 120,123,398.56.
• Accumulated undistributed profit in consolidated statements: RMB 1,271,831,941.53; Parent company: RMB 781,214,853.11. The lower value (parent company) is available for distribution: RMB 781,214,853.11.
• Based on the total shares (excluding repurchased shares) at the record date, all shareholders will receive a cash dividend of RMB 7.00 per 10 shares (tax included) and a bonus share increase of 4 shares per 10 shares from capital reserve. No bonus shares.
• As of announcement, total shares: 134,104,216; repurchased shares: 1,534,893. Actual base: 132,569,323 shares. Estimated total cash dividend: RMB 92,798,526.10 (tax included); bonus shares: 53,027,729; post-increase total shares: 187,131,945.
• Cash dividend and share buyback sum: RMB 120,794,735.83, accounting for 42.81% of annual net profit.
• If the share base changes before the record date, adjustment will be made accordingly, keeping per-share ratios unchanged.

2. Shareholder Impact & Price-Sensitive Issues

• High dividend ratio: Total cash dividend over 2023-2025: RMB 218,298,010.13, far above the average net profit (30%), indicating strong shareholder return policy.
• Large bonus share increase: 4 shares per 10 shares; post-increase total shares will expand, affecting liquidity and possibly causing dilution pressure.
• Repurchased shares excluded: Shares in buyback accounts are not eligible for dividend or bonus share increase.
• Dividend & buyback ratio: 42.81% of net profit, showing robust cash flow and active dividend policy.
• Healthy asset structure: Financial assets below 50% of total assets, no risk warning triggered.
• R&D investment: RMB 127,390,472.20 in 2025, highlighting ongoing innovation.
• No risk warning: Company has not triggered any risk warning clauses per Shenzhen regulations.

3. Specific Investor Considerations

• Both dividend and bonus share increase are based on shares excluding repurchased shares; investors should monitor any changes.
• High dividend and share increase may attract market attention, but dilution impact should be considered.
• Company’s strong financials and positive policies may boost stock price if maintained.
• No negative signals; dividend policy complies with regulations.

4. Conclusion

Dary Electronics’ 2025 dividend and bonus share increase proposal demonstrates robust performance, strong shareholder return, healthy asset structure, and continued R&D investment. High dividend and large-scale share increase are both price-sensitive matters. The company’s active policy is overall positive for the stock.

Disclaimer: This article is for reference only and does not constitute investment advice. Investors should make decisions based on their own risk tolerance and market situation. Dividend and share increase plans may be adjusted if further announcements or changes occur.

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