Core Viewpoint - Jiangsu Guotai (002091) has recently attracted attention in the capital market due to its announcement of plans to utilize idle funds for financial investments, which was later terminated in favor of increasing shareholder dividends [1][2]. Group 1: Investment Plans - On August 22, Jiangsu Guotai announced plans to use up to 12 billion yuan of idle funds for entrusted financial management and up to 1.831 billion yuan for securities investments, with 330.6 million yuan already invested [1]. - The company planned to establish a subsidiary, Zhangjiagang Dingrui Investment Co., Ltd., with 1.5 billion yuan of its own funds to engage in securities investment [1]. - However, just two days later, the company decided to terminate the plan to use 1.5 billion yuan for establishing the subsidiary, citing a focus on core business and cautious investment [2]. Group 2: Dividend Policy - Jiangsu Guotai announced an increase in its dividend policy, intending to distribute profits two to three times a year, with cash dividends not less than 40% of the distributable profits [5]. - The new dividend plan is an increase from the previous policy, which allowed for only one distribution per year with a minimum of 10% of distributable profits [5]. - As of June 30, the company reported retained earnings of 111 million yuan [5]. Group 3: Financial Performance - For the first half of 2025, Jiangsu Guotai reported revenue of 18.597 billion yuan, a year-on-year increase of 5.48%, and a net profit attributable to shareholders of 545 million yuan, up 10.85% [4]. - The company's cash and cash equivalents reached 12.57 billion yuan, with bank deposits amounting to 11.487 billion yuan [4].

Core Viewpoint - Jiangsu Guotai (002091) has recently attracted market attention due to its announcement of plans to utilize up to 12 billion yuan of idle funds for entrusted wealth management and an additional 1.831 billion yuan for securities investment, which was later terminated in favor of increasing dividend payouts to investors [2][3]. Group 1: Investment Plans - On August 22, Jiangsu Guotai announced plans to invest up to 12 billion yuan of idle funds in entrusted wealth management and 1.831 billion yuan in securities investment, with 330.6 million yuan already invested [2]. - The company planned to establish a subsidiary, Zhangjiagang Dingrui Investment Co., Ltd., with 1.5 billion yuan of its own funds to engage in securities investment [2]. - However, just two days later, the company decided to terminate the plan to use 1.5 billion yuan for establishing the subsidiary, citing a focus on core business and cautious investment [3]. Group 2: Financial Performance - For the first half of 2025, Jiangsu Guotai reported revenue of 18.597 billion yuan, a year-on-year increase of 5.48%, and a net profit attributable to shareholders of 545 million yuan, up 10.85% [6]. - The company's cash balance at the end of the reporting period reached 12.57 billion yuan, with bank deposits amounting to 11.487 billion yuan [6]. Group 3: Dividend Policy - On August 24, Jiangsu Guotai's board approved a new three-year dividend plan (2025-2027), aiming to increase dividend payouts [6]. - The new plan stipulates that the company will distribute profits two to three times a year, with cash dividends not less than 40% of the annual distributable profits, which is an increase from the previous average payout rate of 10% [6][7]. - The previous plan allowed for only one profit distribution per year, with a minimum cash dividend of 10% of distributable profits and an average cash dividend amount of at least 30% of the net profit attributable to shareholders [7].

Macro News - The State Council, led by Premier Li Qiang, discussed the implementation of large-scale equipment updates and the old-for-new policy for consumer goods, emphasizing the need for effective subsidy use and coordination to boost domestic demand [5] - The State Council also addressed the potential of sports consumption and the development of the sports industry, focusing on increasing supply, enhancing service levels, and fostering growth points in the sector [5] Industry News - Goldman Sachs reported that hedge funds have net bought Chinese stocks at the fastest pace in seven weeks, indicating a strong interest in the Chinese market [8] - The National Development and Reform Commission released a draft on internet platform pricing behavior, requiring platforms to adhere to transparent pricing rules and publicize subsidy activities [8] - Several express delivery companies in Guangdong and Zhejiang have raised prices for e-commerce clients, with price adjustments ranging from 0.3 to 0.7 yuan per item [8] - The China Photovoltaic Industry Association called for enhanced industry self-discipline to maintain fair competition and avoid harmful practices [10] - The Ministry of Industry and Information Technology published interim measures for the total control of rare earth mining and smelting, requiring companies to maintain records of product flows [10] - The insurance asset management industry showed a preference for stocks as the top investment asset for the second half of 2025, followed by bonds and securities investment funds [10] - The electronic sector's A-share market capitalization reached 11.54 trillion yuan, marking a historical high, with major companies like Industrial Fulian leading the market [11] - The Ministry of Industry and Information Technology emphasized the need for orderly development of computing power facilities to enhance resource supply quality [11] Company News - Changjiang Electric Power announced plans for its controlling shareholder to increase holdings by 4 to 8 billion yuan [14] - Vanke A reported a net loss of 11.947 billion yuan for the first half of the year [14] - TCL Zhonghuan disclosed a net loss of 4.242 billion yuan for the first half of the year [16] - Jiangsu Guotai announced plans to use up to 12 billion yuan of idle funds for entrusted wealth management [18] - Jiu Gui Jiu reported a 92.6% decline in net profit for the first half of the year [18]

Core Viewpoint - Jiangsu Guotai, with a market value of less than 12.4 billion yuan, plans to use no more than 13.8 billion yuan for "wealth management + stock trading," raising significant market attention [1] Group 1: Financial Strategy - The company intends to allocate up to 12 billion yuan for entrusted wealth management, primarily focusing on low to medium-risk financial products such as structured deposits, income certificates, and large certificates of deposit [1] - Additionally, the company plans to invest no more than 1.8306 billion yuan in securities, indicating a higher risk awareness due to the larger allocation towards wealth management compared to stock investments [1] Group 2: Alternative Options - Jiangsu Guotai has a short-term loan of approximately 3.486 billion yuan as of June 30, 2025, and the decision to prioritize "wealth management + stock trading" over repaying short-term loans is questionable [2] - More prudent options include using part of the 13.8 billion yuan to repay short-term loans, which could significantly reduce interest expenses and improve net profit levels [2] - Implementing a substantial share buyback or dividend distribution could also enhance the company's investment value and boost investor confidence [2] Group 3: Risk Considerations - The company should consider investing a small portion of funds in the securities market to keep investment risks at acceptable levels, as returns to investors should primarily come from core business operations rather than investment income [3] - Over-reliance on investment income can lead to stock price volatility, making excessive wealth management a less wise choice [3] - A more cautious and long-term approach to fund allocation is recommended, with share buybacks, dividends, and debt repayment being superior options compared to "wealth management + stock trading" [3]

Core Viewpoint - The company has decided to terminate the use of RMB 1.5 billion of idle self-owned funds to establish a subsidiary for securities investment, focusing on its main business and enhancing investor returns [1][2]. Group 1: Termination of Securities Investment - The company held a board meeting on August 24, 2025, where it approved the proposal to terminate the establishment of a subsidiary for securities investment using idle funds [1]. - The decision is based on considerations to further focus on the main business, cautious investment, and improving investor dividend returns [2]. Group 2: Previous Securities Investment - Previous securities investments included participation in the non-public issuance of A-shares of Shanghai Shenda Co., Ltd., which aligns with the company's main business [2]. - The company’s subsidiary, Guoyu Co., Ltd., obtained shares of Longfor Green Management at zero cost as part of asset distribution [2]. - In 2023, Jiangsu Ruitai New Energy Materials Co., Ltd., a subsidiary, participated in the non-public issuance of A-shares of Tianji New Energy Technology Co., Ltd., which is a supplier to Jiangsu Ruitai [2]. Group 3: Impact of Termination - The termination of securities investment is expected to help the company further focus on its main business and enhance investor returns, ultimately aiming for higher investment returns for the company and its shareholders [2].

转债代码：127040 转债简称：国泰转债 江苏国泰国际集团股份有限公司 证券代码：002091 证券简称：江苏国泰 公告编号：2025-67 关于 2025 年第一次临时股东大会增加临时提案暨补充通知 的公告 《关于重新制定未来三年（2025 年-2027 年）股东分红回报规划的议案》，该议 案尚须提交股东大会审议，具体内容详见巨潮资讯网（http://www.cninfo.com.cn）。 同日，公司董事会收到公司股东张家港保税区盛泰投资有限公司提交的《关于提 请江苏国泰国际集团股份有限公司董事会增加 2025 年第一次临时股东大会的临 时提案的函》，为提高决策效率，张家港保税区盛泰投资有限公司提请公司董事 会将《关于重新制定未来三年（2025 年-2027 年）股东分红回报规划的议案》作 为临时提案，提交公司 2025 年第一次临时股东大会审议。经核查，截至本公告 披露日，张家港保税区盛泰投资有限公司直接持有公司 131,952,478 股股份，占 公司总股本 8.11%，张家港保税区盛泰投资有限公司具备提出临时提案的资格， 其提出的临时提案的内容属于股东大会职权范围，有明确的议题和具体决议事项， 符合 ...

Group 1 - The company held its 22nd (temporary) meeting of the 9th Board of Directors on August 24, 2025, with all procedures complying with relevant laws and regulations [1] - The board approved the termination of the previous three-year shareholder dividend return plan for 2025-2027, with unanimous support from all nine directors [1][2] - The new shareholder dividend return plan will be submitted for review at the company's first temporary shareholders' meeting in 2025 [2] Group 2 - The detailed content of the new shareholder dividend return plan is available in the designated information disclosure newspaper and website [2] - The meeting resolution was signed by the attending directors and stamped with the board seal [2]

Core Viewpoint - Jiangsu Guotai International Group Co., Ltd. has developed a "Quality Return Dual Improvement" action plan to enhance its core business and ensure sustainable high-quality development in response to government directives and market conditions [1][4]. Group 1: Main Business Focus - The company focuses on supply chain services and chemical new energy business, emphasizing a comprehensive service system that includes product design, procurement, production control, customs clearance, and insurance [1]. - Jiangsu Guotai is committed to maintaining its import-export business while expanding its overseas production bases in key locations along the "Belt and Road" initiative, enhancing its global supply chain competitiveness [1]. - The company has established a risk warning mechanism to monitor economic and political conditions in client and sourcing countries, ensuring business safety [1]. Group 2: Innovation and R&D - Jiangsu Guotai's subsidiary, Jiangsu Ruitai New Material Co., Ltd., specializes in lithium-ion battery materials and has established a strong market position through innovation and quality [2]. - Ruitai New Material has obtained 196 invention patents and is actively involved in the development of new battery materials, including solid-state and sodium-ion batteries [2]. Group 3: Asset Optimization - The company aims to optimize its asset structure through strategic mergers and acquisitions, enhancing core competitiveness and resource allocation efficiency [3]. - Jiangsu Guotai plans to avoid blind expansion while focusing on investor interests and returns [3]. Group 4: Investor Returns - The company has established a dividend policy to ensure stable returns to investors, planning to distribute at least 40% of its distributable profits as cash dividends over the next three years [4]. - Jiangsu Guotai has maintained a consistent dividend policy since its listing, with a historical payout ratio of 58.88% [4]. Group 5: Information Disclosure - The company emphasizes high-quality information disclosure, adhering to regulatory requirements and enhancing transparency to reflect its true value [4][5]. - Jiangsu Guotai will actively monitor media reports and market rumors to provide accurate information to investors [5]. Group 6: Investor Relations - Jiangsu Guotai is committed to improving investor relations through effective communication and engagement, including performance briefings and institutional research [5]. - The company encourages major shareholders to increase their holdings to boost market confidence [6][7]. Group 7: Future Development - The "Quality Return Dual Improvement" initiative is seen as a pathway for Jiangsu Guotai to achieve high-quality sustainable development while fulfilling social responsibilities [7].

人民财讯8月24日电，江苏国泰（002091）8月24日晚间公告，基于进一步聚焦主业、谨慎投资、提高投 资者分红回报等考虑，公司终止使用部分闲置自有资金15亿元设立子公司开展证券投资。 ...

Group 1 - Jiangsu Guotai (SZ 002091) announced on August 24 that its 9th Board of Directors held a temporary meeting via communication voting to review the proposal for the new three-year shareholder dividend return plan [1] - For the first half of 2025, Jiangsu Guotai's revenue composition was as follows: trade industry accounted for 94.45%, chemical industry for 5.23%, other industries for 0.17%, and other businesses for 0.15% [1] - As of the report date, Jiangsu Guotai's market capitalization was 12.4 billion yuan [1] Group 2 - The A-share market has seen trading volumes exceed 2 trillion yuan for eight consecutive days, indicating strong market activity [1] - Major industry players are actively recruiting for the autumn season, with 25 job positions available, highlighting a demand for talent in the sector [1]