据证券之星公开数据整理，近期双汇发展（000895）发布2025年中报。根据财报显示，双汇发展营收净 利润同比双双增长。截至本报告期末，公司营业总收入285.03亿元，同比上升3.0%，归母净利润23.23 亿元，同比上升1.17%。按单季度数据看，第二季度营业总收入142.08亿元，同比上升6.31%，第二季度 归母净利润11.86亿元，同比上升15.74%。 本次财报公布的各项数据指标表现一般。其中，毛利率17.28%，同比减5.56%，净利率8.27%，同比减 2.06%，销售费用、管理费用、财务费用总计16.71亿元，三费占营收比5.86%，同比减0.94%，每股净资 产6.02元，同比增0.62%，每股经营性现金流0.84元，同比减18.54%，每股收益0.67元，同比增1.16% | 项目 | 2024年中报 | 2025年中报 | 同比增幅 | | --- | --- | --- | --- | | 营业总收入(元) | 276.72亿 | 285.03亿 | 3.00% | | 归母净利润(元) | 22.96 Z | 23.23亿 | 1.17% | | 扣非净利润(元) | 22.31亿 ...

Core Viewpoint - The company, Henan Shuanghui Investment & Development Co., Ltd., has announced its 2025 semi-annual profit distribution plan, which includes a cash dividend of 6.50 RMB per 10 shares, totaling approximately 2.25 billion RMB in cash dividends to shareholders [1][5]. Group 1: Shareholder Meeting and Board Approval - The company held its 2024 annual shareholder meeting on April 17, 2025, where it authorized the board to formulate and execute the 2025 mid-term dividend plan [1]. - On August 9, 2025, the company's board of directors approved the profit distribution plan based on the authorization from the shareholder meeting [1][3]. Group 2: Dividend Distribution Details - The cash dividend distribution is based on a total share capital of 3,464,661,213 shares, with a total cash dividend of 2,252,029,788.45 RMB [1][5]. - The distribution will not include stock dividends or capital reserve transfers [2][5]. Group 3: Taxation and Dividend Payment - The cash dividend will be distributed at a rate of 6.50 RMB per 10 shares (before tax), with different tax treatments for various types of shareholders [5]. - The dividend tax for individual shareholders will be calculated based on their holding period, with specific rates for different durations [5]. Group 4: Key Dates - The record date for the dividend distribution is set for August 21, 2025, and the ex-dividend date is August 22, 2025 [5]. Group 5: Dividend Recipients - The dividend recipients are all shareholders registered with the China Securities Depository and Clearing Corporation Limited, Shenzhen Branch, as of the record date [7]. Group 6: Payment Method - The cash dividends will be directly credited to the shareholders' accounts through their securities companies or other custodians [7].

河南双汇投资发展股份有限公司 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、 股东会授权及董事会审议通过权益分派方案情况 月 17 日召开 2024 年度股东会，审议通过了《关于提请股东会授权董事会制定并 执行 2025 年中期分红方案的议案》，授权董事会在符合相关条件、时间和金额范 围内，制定公司 2025 年中期分红方案，并经董事会三分之二以上董事审议通过 后执行，具体请见公司于 2025 年 4 月 18 日披露的《2024 年度股东会决议公告》 （公告编号：2025-12）。公司于 2025 年 8 月 9 日召开第九届董事会第八次会议， 根据公司 2024 年度股东会的授权，董事会制定了《公司 2025 年半年度利润分配 方案》，并经全体董事审议通过，同意以公司现有总股本 3,464,661,213 股为基数， 向 全 体 股 东 按 每 10 股 派 发 现 金 红 利 6.50 元 ( 含 税 ) ， 共 计 派 发 现 金 红 利 年 8 月 13 日披露的《第九届董事会第八次会议决议公告》 （公告编号：2025-19）。 额不变的原则相 ...

（编辑 姚尧） 证券日报网讯 8月13日晚间，双汇发展发布公告称，公司2025年半年度权益分派方案为向全体股东按每 10股派6.5元人民币现金（含税）。股权登记日为2025年8月21日，除权除息日为2025年8月22日。 ...

Core Insights - The company held an investor communication meeting on August 13, highlighting a 21% year-on-year increase in meat product sales through emerging channels, which now account for 17.6% of total sales, particularly strong in the snack and e-commerce sectors [2] - Sales in the catering channel saw a modest 2% year-on-year growth [2] - The newly launched Fule brand and other high-cost performance products achieved sales of approximately 10,000 tons, with new meat product sales reaching 65,000 tons, representing 10% of total meat product sales [2] - The company plans to enhance meat product sales through reforms in sales organizations, development of professional clients, and strengthening market networks [2] - For the second half of the year, the company anticipates a year-on-year decrease in meat product costs and intends to increase market support, actively participate in competition, and continue promoting high-cost performance products, expecting to maintain a high profit per ton for meat products [2]

Investment Rating - The report maintains an "Outperform" rating for the company [2][16]. Core Insights - The company's profitability in meat products remains high, and its high dividend payout underscores its investment value [3][5]. - The company achieved a revenue of RMB 28.50 billion in 1H25, reflecting a year-on-year increase of 3.0%, with a net profit attributable to shareholders of RMB 2.32 billion, up 1.2% year-on-year [8][3]. - The report projects revenue for 2025, 2026, and 2027 to be RMB 61.5 billion, RMB 63.4 billion, and RMB 66.2 billion respectively, with corresponding net profits of RMB 5.2 billion, RMB 5.4 billion, and RMB 5.7 billion [14]. Revenue and Profit Analysis - In 1H25, the meat products segment generated revenue of RMB 11.21 billion, down 9.4% year-on-year, with an operating profit of RMB 2.98 billion, a decrease of 10.4% year-on-year [9][10]. - The slaughtering segment achieved revenue of RMB 13.77 billion, up 3.3% year-on-year, with a sales volume of approximately 689,000 tonnes, an increase of 11.2% year-on-year [10][9]. - The overall profitability improvement in 2Q25 was driven by enhanced profit per tonne in the meat products segment and effective loss reduction in the poultry farming business [11][12]. Dividend Policy - The company plans to distribute a cash dividend of RMB 6.5 per 10 shares, totaling RMB 2.25 billion, with a payout ratio exceeding 100% [5][13]. - Cumulative cash dividends from 2020 to 2024 amounted to RMB 27.987 billion, with an average payout ratio of 104.49% [5][13]. Earnings Forecast and Valuation - The report estimates forward P/E ratios of 16.6x for 2025, 16.0x for 2026, and 15.2x for 2027 [14]. - The target price is set at RMB 29.91, based on a 20x P/E for 2025 [14].

此外，就"下半年公司将采取哪些措施促进肉制品销量提升？"，双汇发展还指出，一是继续推进销售机 构改革，加强市场专业化运作。二是持续开发专业客户，扩大客户群体，构建立体化客户网络。三是不 断加强网点开发，扩大市场网络。四是继续做好两端化产品开发，对接多元化消费需求。五是加强精细 化管理，深化渠道运作。六是继续加大市场投入，精准支持市场参与竞争。七是继续抓好数字化应用， 赋能市场销售。八是精准激励业务人员，激发队伍活力。 8月13日，双汇发展发布投资者调研记录。当中披露，针对"下半年肉制品的吨利展望？"，双汇发展表 示，下半年，预计公司肉制品成本同比有所下降，同时公司将加大市场支持力度，积极参与竞争，并继 续加强高性价比产品的推广，预计下半年公司肉制品吨利将维持在较高水平。 （企业公告） 谈及"二季度肉制品销量同比提升的原因？"，公司称，二季度公司肉制品销量同比增长，主要原因：一 是今年公司开始实施销售机构专业化改革，通过组建专业的销售团队和客户队伍，进一步提升市场专业 化运作水平，专业化改革的效果在二季度逐步显现。二是公司加大专业营销人才引进，赋能企业营销工 作升级，加强会员超市、连锁便利、休闲零食等新渠道开拓 ...

格隆汇8月13日丨双汇发展(000895.SZ)于近期投资者调研中表示，为迎合K字型消费趋势，公司推出了 富乐品牌等高性价比产品，积极参与市场竞争，上半年公司以富乐品牌为代表的高性价比产品销量约1 万吨。高性价比产品以新品牌、新客户、新渠道等模式运作，对公司品牌和产品形成补充，为公司带来 新增量。 ...

格隆汇8月13日丨双汇发展(000895.SZ)于近期投资者调研中表示，上半年，公司肉制品在新兴渠道销量 情况良好，销量同比增长21%、销量占比达17.6%，其中休闲零食渠道和电商渠道在新兴渠道中的销量 占比较大且增幅明显。 ...

格隆汇8月13日丨双汇发展(000895.SZ)于近期投资者调研中表示，上半年，公司肉制品新产品实现销量 6.5万吨、占肉制品销量的10%，新产品收入14.4亿元、占肉制品销售收入的12%。 ...