唯科科技公布2025年前三季度分红方案，派现总额7518万元

Core Viewpoint - Weike Technology (301196) announced a cash dividend plan of 6 yuan per 10 shares for the first three quarters of 2025, with a total payout of approximately 75.18 million yuan, reflecting a cash dividend payout ratio of about 28% based on the projected net profit of 264 million yuan for 2025 [1][2]. Stock Performance - The stock price showed a slight decline of 0.98% from February 4 to February 13, with a trading range fluctuation of 3.20%, indicating neutral market sentiment [5]. Dividend Details - The total number of shares is 125 million, resulting in a cash dividend total of approximately 75.18 million yuan, with a dividend yield of 1.43% based on the latest stock price of 84.15 yuan [1][4]. Impact on Shareholders - The cash return directly increases shareholder earnings, particularly benefiting major shareholders. The controlling shareholder, Zhuang Huiyang, is expected to receive approximately 32.4 million yuan, with cumulative dividends over the past three years reaching 140 million yuan, highlighting a preference for high dividends [2][3]. Financial Impact on the Company - The total cash payout represents 38% of the operating cash flow for 2024, which is approximately 197 million yuan. This may slightly compress liquidity, but the company has sufficient cash reserves (approximately 450 million yuan as of Q3 2025), indicating limited debt pressure [4]. - The dividend reflects the company's stable profitability, with a year-on-year net profit increase of 105.12% in Q1 2025. However, attention should be paid to the alignment between net profit growth and dividend capacity, with a projected net profit growth rate of 19.86% for 2025 [4]. Market Reaction and Valuation - The current price-to-earnings ratio (TTM) stands at 39.79, which is higher than the average of 38.31 for the plastic industry. The dividend yield of 1.43% is in the mid-range of the industry, suggesting limited support for valuation from the dividend [5]. Future Development - Weike Technology's dividend distribution continues its tradition of high payouts, enhancing short-term shareholder returns. However, it is essential to balance cash flow with growth potential. Investors should consider the company's business growth, such as a year-on-year revenue increase of 131.92% in health products, and industry competition, with a turnover rate of 15.20% in the plastic sector, for a comprehensive assessment [6].