SWEC(SH:600641) Zheng Quan Zhi Xing·2025-07-04 16:34Core Viewpoint - The legal opinion letter from Guohao Law Firm confirms the legality and compliance of Shanghai Wanye Enterprise Co., Ltd.'s differentiated dividend distribution for the year 2024, ensuring it aligns with relevant laws and regulations [1][2][3]. Group 1: Differentiated Dividend Application - The company approved a share repurchase plan on February 18, 2024, to buy back shares using its own funds through centralized bidding, completing the repurchase of 19,556,524 shares, which is 2.10% of the total share capital, at a total cost of approximately RMB 250 million [3][4]. - The company will not conduct capital reserve transfers or issue bonus shares, proposing a cash dividend of RMB 0.4325 per 10 shares for all shareholders, excluding the repurchased shares [4][5]. Group 2: Financial Performance and Dividend Distribution - For the fiscal year 2024, the company reported a net profit attributable to shareholders of approximately RMB 107.54 million, with a total distributable profit of about RMB 1.28 billion [5][6]. - The total cash dividend distribution amounts to approximately RMB 39.40 million, representing about 36.64% of the net profit attributable to shareholders [5][6]. Group 3: Impact on Stock Price - The differentiated dividend distribution is expected to have a minimal impact on the stock's ex-dividend reference price, calculated to be approximately RMB 13.48675, with a negligible change of about 0.00674% [7][8]. - The company will maintain the distribution ratio even if there are changes in the total share capital or the number of shares held in the repurchase account before the ex-dividend date [6][7]. Group 4: Legal Compliance - The legal opinion asserts that the differentiated dividend distribution complies with the Company Law, Securities Law, and other relevant regulations, ensuring no harm to the interests of the company and its shareholders [8].