Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-08-30 00:44Core Viewpoint - The trend of mid-term dividend plans is becoming standard among A-share listed companies, particularly in the securities industry, with a significant number of firms announcing substantial cash dividends for the first half of 2025 [1][2]. Group 1: Dividend Distribution - Among the 42 listed securities firms, 29 have disclosed their mid-term profit distribution plans for 2025, with nearly 70% opting for cash dividends totaling 187.97 billion yuan [1]. - CITIC Securities leads in proposed cash dividends, planning to distribute 42.98 billion yuan, with a per-share dividend of 0.29 yuan based on a total share capital of 14.821 billion shares [1]. - Guotai Junan plans to distribute 26.27 billion yuan, with a per-share dividend of 0.15 yuan based on a total share capital of 17.514 billion shares, ranking second after CITIC Securities [2]. - Other firms like China Galaxy, Huatai Securities, and others also plan to distribute over 10 billion yuan in cash dividends [2]. Group 2: Company Performance - CITIC Securities reported a revenue of 330.39 billion yuan and a net profit of 137.19 billion yuan for the first half of 2025, both showing over 20% year-on-year growth [1]. - Huazhong Securities announced a cash dividend of 1.87 billion yuan, with a per-share dividend of 0.04 yuan, supported by a revenue of 28.08 billion yuan and a net profit of 10.35 billion yuan, both exceeding 43% year-on-year growth [3]. Group 3: Investor Return Strategies - Several securities firms have introduced new "quality improvement and efficiency enhancement" plans aimed at optimizing dividend policies and strengthening market value management to enhance investor returns [4]. - Dongxing Securities plans to distribute 2.46 billion yuan in cash dividends and emphasizes the importance of shareholder returns and market value management [4]. - Guojin Securities revised its three-year shareholder return plan, focusing on aligning return strategies with industry position and growth cycles, while considering dividend payout ratios and methods [5].