上半年408家沪市公司宣告中期分红，现金分红总额5552亿元

Core Insights - The Shanghai Stock Exchange announced that as of August 30, 2025, listed companies in the Shanghai market have completed their semi-annual report disclosures for 2025 [1] - Mid-term dividends reached a new high, with 408 companies declaring a total cash dividend of 555.2 billion yuan, representing a year-on-year growth of 12% and 5% respectively [1] - 14 companies reported dividends exceeding 10 billion yuan [1] Financial Performance - The total R&D investment of real economy enterprises reached 432.6 billion yuan, showing a year-on-year increase of 1% [1] - Companies listed on the Sci-Tech Innovation Board (STAR Market) reported a total R&D investment of 84.1 billion yuan, with a year-on-year growth of 6% [1] - The median R&D investment ratio stands at 13%, leading all sectors in the A-share market [1] Cash Flow and Profitability - Operating cash inflow for real economy enterprises was 1.11 trillion yuan, marking a year-on-year increase of 32% [1] - The cash content of net profit reached 103%, an increase of 26.2 percentage points year-on-year [1] Industry Performance - The manufacturing sector showed stable fundamentals, with revenue and net profit growing by 3.9% and 7.1% year-on-year, respectively [1] - The contribution of manufacturing to overall growth, excluding non-bank financials, accounted for 78% of revenue and 50% of net profit [1] - Emerging industries such as electronics, communications, pharmaceuticals, and rail transit equipment experienced revenue and net profit growth rates of 7.5% and 6.5% respectively [1] - Over the past five years, the revenue share of emerging industries in manufacturing and related services has increased from 39% to 49%, while profit share rose from 33% to 50% [1]