BUCHANG PHARMA(SH:603858) Cai Fu Zai Xian·2025-09-24 01:29Core Viewpoint - The announcement of a mid-year cash dividend by the company reflects its strong operational performance and commitment to shareholder returns, marking the first mid-year dividend since its listing [1][2]. Dividend Distribution - The company will distribute a cash dividend of 0.39 yuan per share, totaling over 411 million yuan, based on a total share capital of 1,054,568,442 shares, to be paid on September 26 [1]. - Cumulatively, the company has distributed over 7.9 billion yuan in dividends and repurchased shares worth over 1.7 billion yuan since its listing in 2016 [2]. - The company maintained a consistent dividend policy even during challenging times, with notable dividends in 2019 and 2022, showcasing its commitment to shareholder returns [2]. Industry Comparison - Compared to peers, the company's mid-year dividend of 0.39 yuan per share is positioned at a relatively high level within the industry, with a dividend yield of 2.52%, surpassing several competitors [3]. - Other pharmaceutical companies have also announced mid-year dividends, indicating a trend towards increased cash dividends in the sector [3]. Financial Performance - The company's solid dividend policy is supported by strong operational performance, with healthy cash flow from operating activities providing a robust financial foundation for the dividend [4]. - The company is expanding its portfolio in high-tech areas such as chemical drugs, biological drugs, and vaccines, with a total of 457 valid patents and 209 products under development [4]. Corporate Governance and Social Responsibility - The company's consistent cash dividend policy reflects its governance quality and commitment to attracting long-term investors [5]. - The company has engaged in social responsibility initiatives, sponsoring public welfare activities for 18 years and contributing over 32 billion yuan in taxes, demonstrating its commitment to societal value [6][7].