Kouzijiao(SH:603589) Sou Hu Cai Jing·2025-06-30 05:37Core Viewpoint - The company, Kuozi Jiao, has announced a profit distribution plan for 2024, proposing a cash dividend of 13 yuan per 10 shares, totaling 778 million yuan, which reflects a strategic decision amidst a competitive industry landscape [1][3][23]. Dividend Distribution - Kuozi Jiao plans to distribute a total of 778 million yuan to shareholders based on 599 million shares after buyback adjustments, with the record date set for July 4 and payment date on July 7 [1]. - The company has not arranged for stock bonuses or capital reserve transfers in this distribution [1]. Dividend Trends - The company's dividend per share has decreased to 1.3 yuan in 2024, breaking the previous stable level of 1.5 yuan maintained from 2021 to 2023 [4]. - The dividend payout ratio has shown a declining trend, dropping from 58.06% in 2022 to 47.01% in 2024, indicating a reduction in shareholder returns [11]. Financial Performance - Kuozi Jiao's revenue has shown consistent growth, surpassing 6 billion yuan for the first time in 2024, with growth rates of 25.37%, 2.12%, 16.1%, and 0.89% from 2021 to 2024 [5]. - However, the net profit has fluctuated significantly, with a peak of 1.727 billion yuan in 2021, a decline to 1.024 billion yuan in 2022, a recovery to 1.721 billion yuan in 2023, and a drop to 1.655 billion yuan in 2024 [6]. Return on Equity - The return on equity has been on a downward trend, falling to 16.39% in 2024 from 18.63% in 2023 and 22.48% in 2021, indicating a decline in profitability [10]. Shareholder Structure - The majority of the top ten shareholders are individual investors, with significant holdings by key executives, including the chairman and general manager, Xu Jin, who holds 19.34% of shares [15][19]. - The company has seen a reduction in institutional holdings, with only 7 funds holding shares by the first quarter of 2025, down from 149 funds at the end of 2024, reflecting a shift in market confidence [24]. Market Performance - Kuozi Jiao's stock price has experienced a downward adjustment, with a cumulative decline of 12.33% in 2025, following a peak of 62.15 yuan in August 2023 [21].