A股上半年分红回购规模再创新高

Core Insights - The report indicates that nearly 60% of listed companies in China experienced revenue growth in the first half of 2025, with over 75% achieving profitability [1][2] - The total cash dividend announced by listed companies reached 649.7 billion yuan, marking a significant increase in shareholder returns [1][6] Financial Performance - In the first half of 2025, total revenue for listed companies was 35.01 trillion yuan, a year-on-year increase of 0.16%, while net profit reached 3 trillion yuan, up 2.54% [2][3] - Excluding the financial sector, revenue for real economy companies was 30.42 trillion yuan, remaining stable compared to the previous year, with net profit growing by 0.94% [2] Industry Performance - Among 19 industry categories, 17 reported profitability, with 7 industries showing both revenue and net profit growth, including agriculture, transportation, and postal services [3] - The manufacturing sector saw all sub-industries achieve profitability, with 6 industries reporting revenue growth and 5 showing net profit growth [3] R&D and Innovation - Total R&D investment across the market exceeded 810 billion yuan, reflecting a year-on-year increase of 3.27%, with a notable rise in R&D intensity [4] - The introduction of new regulations for the sci-tech bond market has led to the issuance of 824 sci-tech bonds, raising over 1.02 trillion yuan, significantly boosting funding for technological innovation [4][5] Shareholder Returns - A total of 818 companies announced cash dividend plans, an increase of 141 from the previous year, with a dividend payout ratio of 31.97% [6][7] - The number of share buyback plans reached 1,321, with an expected total buyback amount of 164.27 billion yuan, indicating a strong commitment to enhancing shareholder value [7]