调研速递|星辉环保材料接受投资者调研，中期分红等要点受关注

Core Viewpoint - Xinghui Environmental Materials Co., Ltd. held a performance briefing on September 19, 2025, addressing investor inquiries regarding dividend policies, artificial intelligence applications, performance improvement measures, and the use of raised funds [1]. Dividend Policy - The company plans to implement a mid-year dividend for 2025, distributing cash dividends of RMB 0.50 per 10 shares (tax included) to all shareholders, following the board's approval [1]. - Since its listing in 2022, the company has distributed a total of over RMB 580 million in cash dividends, indicating a commitment to balancing operational development and shareholder returns [1]. Artificial Intelligence Applications - The company has fully adopted Distributed Control Systems (DCS) in its production lines, enabling real-time monitoring of equipment, automatic fault diagnosis, and data collection for dynamic monitoring of key performance indicators [1]. Performance Improvement Measures - The company stated that details regarding performance enhancement measures have been disclosed in regular reports, encouraging investors to refer to these documents for more information [1]. Fund Utilization Concerns - Investors raised concerns about the company's use of raised funds, noting that out of RMB 2.6 billion raised, only RMB 300 million was actually invested, with RMB 1.1 billion used for working capital and RMB 1 billion for financial management [1]. - The company reported a net profit of RMB 97.21 million for 2024 and stated that any future plans regarding share buybacks would comply with legal disclosure obligations [1].