Group 1 - The core viewpoint of the news is that Chengda Biological has shown a slight increase in stock price and trading volume, with notable financing activities indicating a low level of margin trading compared to historical data [1] - On August 25, Chengda Biological's stock rose by 1.34%, with a trading volume of 158 million yuan, and a net financing purchase of 2.14 million yuan [1] - The total margin balance for Chengda Biological as of August 25 is 212 million yuan, which is 1.72% of its circulating market value, indicating a low financing level compared to the past year [1] Group 2 - As of March 31, Chengda Biological had 25,500 shareholders, a decrease of 2.17% from the previous period, while the average circulating shares per person increased by 2.22% to 7,417 shares [2] - For the first quarter of 2025, Chengda Biological reported a revenue of 358 million yuan, a year-on-year decrease of 1.73%, and a net profit attributable to shareholders of 72.22 million yuan, down 11.35% year-on-year [2] - Since its A-share listing, Chengda Biological has distributed a total of 1.492 billion yuan in dividends, with 1.075 billion yuan distributed in the last three years [2]

格隆汇8月25日丨成大生物(688739.SH)公布，2025年8月25日，公司通过集中竞价交易方式首次回购公 司股份44,000股，占公司总股本的比例约为0.0106%，回购成交的最高价为29.61元/股，最低价为29.20 元/股，支付的资金总额为人民币1,293,840.00元（不含印花税、交易佣金等交易费用）。 ...

证券代码：688739 证券简称：成大生物 公告编号：2025-044 辽宁成大生物股份有限公司 关于以集中竞价交易方式回购公司股份的 首次回购公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 重要内容提示： 回购方案首次披露日 2025/6/19 回购方案实施期限 2025 年 6 月 19 日~2026 年 6 月 18 日 预计回购金额 1,000 万元~2,000 万元 □减少注册资本 √用于员工持股计划或股权激励 回购用途 □用于转换公司可转债 □为维护公司价值及股东权益 本次回购股份符合相关法律法规及公司回购股份方案的规定。 三、其他事项说明 费用） 实际回购价格区间 29.20 元/股~29.61 元/股 一、回购股份的基本情况 公司于2025年6月19日召开第五届董事会第十九次会议，审议通过了《关于 以集中竞价交易方式回购公司股份方案的议案》。公司拟使用不低于人民币1,000 万元（含）且不超过人民币2,000万元（含）的超募资金以集中竞价交易方式回购 公司人民币普通股股票，用于实施员工持股计划或股权激 ...

（编辑 姚尧） 证券日报网讯 8月25日晚间，成大生物发布公告称，2025年8月25日，公司通过集中竞价交易方式首次 回购公司股份44，000股，占公司总股本416，450，000股的比例约为0.0106%。 ...

Group 1 - The core point of the article is that Chengda Biological announced a share buyback plan, purchasing approximately 44,000 shares, which represents about 0.0106% of its total share capital of approximately 416 million shares [1] - The buyback was executed through centralized bidding, with the highest transaction price at 29.61 CNY per share and the lowest at 29.20 CNY per share, totaling around 1.29 million CNY in funds used [1] - As of the report, Chengda Biological has a market capitalization of 12.3 billion CNY [1] Group 2 - For the fiscal year 2024, Chengda Biological's revenue composition is entirely from biopharmaceuticals, accounting for 100.0% [1]

证券代码：688739 证券简称：成大生物 公告编号：2025-044 辽宁成大生物股份有限公司 公司于2025年6月19日召开第五届董事会第十九次会议，审议通过了《关于 以集中竞价交易方式回购公司股份方案的议案》。公司拟使用不低于人民币1,000 万元（含）且不超过人民币2,000万元（含）的超募资金以集中竞价交易方式回购 公司人民币普通股股票，用于实施员工持股计划或股权激励，回购股份的价格为 不超过人民币38元/股，回购股份期限为自公司董事会审议通过本次回购股份方案 之日起不超过12个月。具体内容详见公司于2025年6月20日在上海证券交易所网 站（www.sse.com.cn）披露的《辽宁成大生物股份有限公司关于以集中竞价交易 方式回购公司股份的回购报告书》（公告编号：2025-034）。 二、首次实施回购股份的情况 根据《上市公司股份回购规则》《上海证券交易所上市公司自律监管指引第 7号——回购股份》等相关规定，现将公司首次回购股份情况公告如下： 关于以集中竞价交易方式回购公司股份的 首次回购公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准 ...

辽宁成大生物股份有限公司 2025 年第一次临时股东会会议资料 证券代码：688739 证券简称：成大生物 辽宁成大生物股份有限公司 2025 年第一次临时股东会 会议资料 辽宁成大生物股份有限公司 Liaoning Chengda Biotechnology Co., Ltd. 二〇二五年八月二十八日 中 国·沈 阳 1 辽宁成大生物股份有限公司 2025 年第一次临时股东会会议资料 目录 辽宁成大生物股份有限公司 2025 年第一次临时股东会会议资料 | 3 | 2025 年第一次临时股东会会议须知 | | | --- | --- | --- | | 5 | 2025 年第一次临时股东会会议议程 | | | 7 | 2025 年第一次临时股东会会议议案 | | | 议案一：关于取消监事会、废止《监事会议事规则》并修订《公司章程》及其附 | | | | 件的议案 | | 7 | | | 议案二：关于制定公司《董事和高级管理人员薪酬管理制度》的议案 | 9 | | | 议案三：关于补选公司董事的议案 | 14 | 2 辽宁成大生物股份有限公司 2025 年第一次临时股东会会议资料 辽宁成大生物股份有限公司 2 ...

Summary of Key Points Core Viewpoint - Chengda Bio has experienced a net sell-off in the recent trading days, indicating a potential decline in investor confidence [1] Financing Activity - On August 15, Chengda Bio recorded a financing buy amount of 0.10 billion, ranking 1363rd in the market [1] - The financing repayment amount on the same day was 0.15 billion, resulting in a net sell-off of 4.885 million [1] - Over the last three trading days (August 13-15), the financing buy amounts were 0.14 billion, 0.11 billion, and 0.10 billion respectively [1] Securities Lending - On August 15, there were no shares sold short, but there was a net purchase of 0.08 thousand shares [1]

Core Viewpoint - The implementation of new policies in 2024 has led to a significant increase in cash dividends among listed companies in China's stock markets, indicating a positive trend in shareholder returns and market stability [1] Summary by Sections Dividend Trends - In 2024, a total of 3,755 listed companies in the Shanghai and Shenzhen stock exchanges implemented cash dividends, with a total cash dividend amount of approximately 2.4 trillion yuan, marking an increase of 11.7% in the number of dividend-paying companies and a 14.7% increase in total dividend amount compared to 2023 [1] High Dividend Payouts - Some companies are engaging in "clearance-style dividends," where they distribute nearly all of their annual net profits as dividends. This practice raises concerns about the sustainability of the companies' future development and the efficiency of capital market resource allocation [1] Case Study: Chengda Bio - Chengda Bio reported a revenue of 1.676 billion yuan in 2024, a decrease of 4.22% year-on-year, and a net profit of 343 million yuan, down 26.42% year-on-year. The company has seen a continuous decline in revenue and net profit for three consecutive years since its listing [2] - Despite declining performance, Chengda Bio distributed a total cash dividend of 329 million yuan in 2024, with a dividend payout ratio of 96.06%. The largest shareholder, Liaoning Chengda Co., Ltd., holds 54.67% of the company's shares, indicating that a significant portion of the dividends benefits the major shareholder [2] Risks of High Dividend Strategies - The "clearance-style dividend" strategy, while appearing to provide substantial returns to shareholders, poses multiple risks. Distributing nearly all or exceeding the current net profit undermines the company's future development and risk reserves [3] - The practice of using excess funds from IPOs for dividends distorts the capital market's resource allocation function, as these funds should ideally support the company's growth rather than serve as a means for major shareholders to cash out [3] - High dividend payouts in companies with declining fundamentals raise questions about the fairness and rationality of such actions, potentially harming the long-term interests of minority shareholders and the company as a whole [3]

原标题："成大生物：董丙建、崔建伟辞去公司董事职务" 每经AI快讯，成大生物（SH 688739）8月12日晚间发布公告称，因工作需要，董丙建先生申请辞去公 司董事及董事会战略委员会委员职务，辞职后将不再担任公司任何职务。崔建伟先生申请辞去公司董事 职务。辞职后将不再担任公司任何职务；崔建伟先生申请辞去公司董事职务，辞职后仍将担任公司副总 经理、财务总监职务。根据公司控股股东辽宁成大股份有限公司推荐、经董事会提名委员会资格审查通 过，董事会同意提名徐飚先生、周岳先生为公司第五届董事会非独立董事候选人。保证董事会专门委员 会能够顺利高效开展，在公司股东会审议通过选举徐飚先生为公司董事之日起，选举徐飚先生为公司第 五届董事会战略委员会委员。 截至发稿，成大生物市值为120亿元。 延伸阅读： 天成自控:徐华月辞去公司财务总监职务 东方通信聘任王妍为公司财务总监 广东明珠:聘任凌炜担任公司财务总监 2024年1至12月份，成大生物的营业收入构成为：生物制药占比100.0%。 ...