福耀玻璃：扩产分红大增非靠短债，高比例分红回馈投资者

Core Viewpoint - The company emphasizes that it is not relying on short-term debt to support its dividend payments, but rather on strong cash flow generation and liquidity [1] Group 1: Financial Performance - The company's net cash flow from operating activities for 2025 is projected to be 12.055 billion yuan, representing a year-on-year increase of 40.79% [1] - As of the end of 2025, the company's cash reserves are expected to reach 19.241 billion yuan, indicating sufficient capacity for cash dividends [1] Group 2: Shareholder Returns - Since its listing in 1993, the company has distributed a total of 38.815 billion yuan in cash dividends to investors, including 3.132 billion yuan in cash dividends declared for 2025 [1] - The total amount of cash dividends and stock dividends distributed by the company accounts for 64.30% of the cumulative net profit attributable to shareholders [1]