贵州茅台：回购+分红超300亿元

Core Viewpoint - Guizhou Moutai announced a second round of share buybacks, planning to repurchase shares with a total fund of no less than 1.5 billion yuan and no more than 3 billion yuan, with a maximum buyback price of 1887.63 yuan per share [1][5] Group 1: Share Buyback Details - The buyback shares will be used for cancellation and reduction of the company's registered capital [5] - The buyback plan requires approval from the company's shareholders' meeting [5] - If the maximum buyback fund of 3 billion yuan is fully utilized, it would account for approximately 0.98% of total assets, 1.17% of net assets attributable to shareholders, and 1.88% of cash and cash equivalents as of September 30, 2025 [6] Group 2: Previous Buyback and Dividend Distribution - On August 30, Guizhou Moutai completed a previous buyback, repurchasing 3.9276 million shares at an average price of 1527.65 yuan per share, totaling approximately 6 billion yuan [6] - The company plans to distribute a cash dividend of 23.957 yuan per share (including tax), totaling over 30 billion yuan (including tax) to all shareholders for the mid-term profit distribution in 2025 [6] Group 3: Strategic Goals and Market Positioning - Guizhou Moutai aims to normalize market value management and establish a high-level shareholder return framework through regular cash dividends, share buybacks, and promoting major shareholder increases [8] - The company will maintain a stable and sustainable shareholder return strategy, with annual and mid-term dividends, while dynamically optimizing based on operating performance and cash flow [8] - The company is committed to high-quality development amidst industry challenges, balancing short-term interests with long-term growth and quality [9]