嘉化能源半年度营收净利双增 每年两次派现累计分红超53亿

Core Performance - In the first half of 2025, the company achieved operating revenue of 5.006 billion yuan, a year-on-year increase of 8.31% [1][4] - The net profit for the same period was 581 million yuan, reflecting a year-on-year growth of 9.64% [1][4] - The primary driver of revenue growth was a 64.22% increase in the average selling price of the main product, fatty alcohol (acid) series [1][4] Product Performance - The fatty alcohol (acid) series produced 162,600 tons, with sales revenue reaching 2.319 billion yuan, a 60.21% increase year-on-year due to high raw material prices [3] - Polyvinyl chloride (PVC) production was 179,800 tons, but sales revenue fell by 15.9% to 706 million yuan due to declining prices influenced by macroeconomic conditions [3] - Caustic soda production was 161,100 tons, with a sales revenue of 407 million yuan, down 8.73% despite an 11.23% price increase [3] - The sulfonated pharmaceutical series produced 12,100 tons, generating sales revenue of 178 million yuan, up 38.18% year-on-year [3] - Sulfuric acid production was 165,000 tons, with a sales revenue of 110 million yuan, benefiting from a 40.87% increase in average selling price [3] - In the energy sector, steam production was 6.426 million tons, with sales revenue of 849 million yuan, a slight decline of 1.61% [3] - Photovoltaic power generation was 11,422.13 million kWh, with sales revenue of 69.7244 million yuan, down 3.63% due to grid connection restrictions [3] Dividend Policy - The company announced a semi-annual distribution plan of 0.2 yuan per share (before tax), totaling 265 million yuan, which represents 45.66% of net profit [1][5] - This marks the 26th cash distribution since the company went public, with cumulative cash dividends exceeding 5.3 billion yuan since 2014 [5][6] Share Buyback - The company completed its 2024 share buyback plan, repurchasing 25.8493 million shares for a total of 197 million yuan [7] - A new buyback plan for 2025 is in place, with an expected total amount between 400 million yuan and 600 million yuan [7] - As of the end of July 2025, the company had repurchased 21.5261 million shares, accounting for 1.59% of total share capital, with a total expenditure of 286 million yuan [7]