中期“红包雨”袭来：A股掀起一场“静悄悄的分红变革”

Core Viewpoint - The A-share market is experiencing an unprecedented wave of dividend reform, with 25 listed companies reporting profits exceeding 3 billion yuan in the third quarter of 2025, collectively announcing a mid-term dividend plan totaling 69.4 billion yuan, averaging over 2.7 billion yuan per company [1] Group 1: Dividend Reform - The new "National Nine Articles" and other policies are significantly driving this dividend reform [1] - Leading companies in energy, manufacturing, and finance are at the forefront of this change, with China Shenhua leading with a dividend of 19.47 billion yuan, followed by Industrial Bank and Industrial Fulian [1] - Mid-term dividends are becoming a "new standard" for quality enterprises, with over half of the companies reporting profits exceeding 3 billion yuan implementing mid-term dividends, a nearly sixfold increase compared to three years ago [1] Group 2: Shareholder Return Mechanism - This shift marks a new phase in the A-share shareholder return mechanism, showcasing a significant breakthrough in the balanced development of capital market investment and financing [1] - As regulatory policies continue to strengthen, listed companies are transitioning from "distributing if possible" to "distributing as much as possible" [1]