好想你扣非五年亏5亿再度预亏 石聚彬家族“啃老本”分红4.54亿

Core Viewpoint - The company "Hao Xiang Ni" (002582.SZ), the first stock in the red date industry, is expected to report a net profit loss for the first half of 2025, primarily due to changes in the accounting method for investment income from its associates, leading to a significant decrease in investment income [2][4][6]. Financial Performance - For the first half of 2025, the company anticipates a net profit loss of between 15 million to 25 million yuan, a reduction in loss of 31.01% to 58.60% compared to a loss of 36.23 million yuan in the same period last year [4]. - The company expects a non-recurring net profit of 14 million to 21 million yuan, a turnaround from a loss of 36.31 million yuan in the previous year, representing a year-on-year growth of 138.56% to 157.84% [4]. - In Q1 2025, the company reported operating revenue of 413 million yuan, a year-on-year decline of 16.44%, with net profit and non-recurring net profit of approximately 39.81 million yuan and 29.22 million yuan, respectively, showing significant year-on-year growth [4][7]. Historical Performance - The company has faced continuous losses in non-recurring net profit for five consecutive years from 2020 to 2024, accumulating losses of approximately 500 million yuan [3][7]. - Following the sale of "Bai Cao Wei" in 2020, the company's revenue dropped by 49.65% to 3 billion yuan, and the net profit plummeted by 97.14% in 2021 [7]. Dividend Policy - Despite ongoing losses, the company has distributed a total of 1.434 billion yuan in cash dividends from 2020 to 2024, with significant payouts even during loss years [8][9]. - The actual controller, Shi Jubin, and his family hold a combined 31.67% stake in the company, benefiting significantly from the dividends [8]. Management and Governance - The company's chairman, Shi Jubin, has seen an increase in salary despite the company's continuous losses, with his compensation rising from 176.29 million yuan in 2022 to 260.24 million yuan in 2024 [11].