登录新浪财经APP 搜索【信披】查看更多考评等级 需要指出的是，上市公司透过投资业务与实控人体外公司及其女儿公司产生交织。 公告显示，杭州慕华股权投资基金合伙企业（有限合伙）共同投资人陈培泉为公司董事陈加贫之子；宁 波君度景弘股权投资合伙企业（有限合伙）等关联共同投资人为山南置立方投资管理有限公司，属于公 司董事林聪颖间接控制的企业；LapamBiotechFundI，LP关联共同投资人为CopiousGainGlobalLimited， 属于公司董事林聪颖女儿控制的企业。需要强调的是，九牧王的实际控制人是林聪颖，林聪颖通过九牧 王国际投资控制上市公司53.73%的股份。 具体关系如下： 出品：新浪上市公司研究院 文/夏虫工作室 核心观点：九牧王逾20亿规模的投资业务背后，疑似与实控人及其女儿体外公司产生交织，是否需要警 惕利益输送风险？上市公司资金安全性究竟如何？与此同时，公司一边举债，一边又出现"清仓式"分红 现象。需要指出的是，在公司一股独大的公司治理结构下，公司常年大比例现金分红将主要流向实控人 林聪颖家族口袋。 近日，九牧王就2024年年报问询回复监管。此次监管主要就公司资金结构安排合理性、非主业投 ...

尚未实施的含权股中，投资者若看重分红，可提前进行"抢权"，而股权登记日则是对本次分红"抢权"的 最后一个交易日。证券时报·数据宝统计显示，股权登记日为今日的共有12家公司。从这些公司的分红 方案来看，每10股派现金额在1元（含税）及以上的共有8家，恒玄科技派现最大方，每10股派现12.00 元，青矩技术、众鑫股份等紧随其后，每10股派现金额分别为10.00元、9.60元。 上市公司目前进入分红实施季。证券时报·数据宝统计，以股权登记日为基准，今日12家公司分配方案 将要实施。 统计显示，2024年度推出分配方案的公司合计有3678家。在监管层大力提倡现金分红的背景下，上市公 司现金分红更加积极，2024年度分配方案中含有现金分红的有3673家，累计派现金额1.64万亿元。2024 年度分配方案中含送转股的有346家。 对于关注分红的投资者而言，在分红方案密集实施季，上市公司分红有两个比较重要的日期，即股权登 记日和除权除息日。以除权除息日计算，目前有2771家公司分配方案已经实施，未来一段时间需要关注 的就是这些公司股价能否走出"填权"行情。 即将实施分红的公司一览 | 证券代码 | 证券简称 | 每10股派 ...

成都智明达电子股份有限公司 未来三年（2025 年-2027 年）股东分红回报规划 为兼顾公司自身发展与对股东的合理投资回报，保护投资者的合法权益，根 据《中华人民共和国公司法》 （以下简称" 《上市公司监管指引第 3 《公司法》"）、 号——上市公司现金分红（2025 修订）》和《成都智明达电子股份有限公司章程》 （以下简称"《公司章程》"）的有关规定，并结合公司盈利能力、经营发展规划、 股东回报等因素，特制定《成都智明达电子股份有限公司未来三年（2025 年-2027 年）股东分红回报规划》（以下简称"本规划"）。具体内容如下： 一、公司制订本规划考虑的因素 公司将着眼于长远和可持续发展，综合考虑公司实际情况和发展目标、股东 要求和意愿、社会资金成本、外部融资环境等因素的基础上，特别是在充分考虑 和听取股东特别是中小股东的要求和意愿的基础上，建立对投资者持续、稳定、 科学的回报规划与机制，从而对股利分配作出制度性安排，以保证股利分配政策 的连续性和稳定性。 二、本规划的制订原则 （一）本规划将在符合国家相关法律法规及《公司章程》的前提下，充分考 虑对投资者的回报； （二）公司应本着重视股东合理投资回报，同 ...

Core Viewpoint - The company establishes a structured and sustainable profit distribution policy to ensure fair returns for shareholders, particularly small and medium investors, while considering its operational needs and financial health [1][2][3]. Company Dividend Policy - The company will implement a differentiated cash dividend policy based on its development stage and significant capital expenditure plans, with minimum cash dividend ratios set at 80%, 40%, and 20% for different scenarios [1][2]. - The company emphasizes a continuous and stable profit distribution policy, prioritizing cash dividends over stock dividends when conditions allow [2][3]. - The board of directors must provide a detailed explanation for any failure to propose a cash dividend plan during profitable periods [4][10]. Profit Distribution Mechanism - The company must allocate 10% of its after-tax profits to statutory reserves, with specific conditions for when this requirement can be waived [5]. - Cash dividends will be distributed in RMB, with the distribution ratio expressed per 10 shares [6]. - The company must complete the distribution of dividends within two months after the shareholders' meeting decision [7]. Shareholder Return Planning - The company is required to develop a three-year shareholder return plan, detailing specific arrangements for cash dividends and intervals [8][11]. - The board must ensure that the decision-making process for profit distribution is transparent and includes input from independent directors and small shareholders [9][12]. Supervision and Compliance - The audit committee is responsible for overseeing the execution of the profit distribution policy and ensuring compliance with established procedures [11][12]. - Any adjustments to the profit distribution policy must be justified and require thorough discussion with stakeholders [12][13].

71家寿险公司分红险保费 近十年变化（2013-2023） ①泰康人寿超1千亿 国寿、平安、太保超500亿 ②泰康人寿一直坚持分红险 "老六家"具备分红险发展基础 ③友邦分红险保费131亿 中宏、大都会人寿等快速发展 ④中邮、中意等2024年发力 新华、太保等分红新单快速增长 行业分红险保费预计重回50%以上 1 寿险公司分红险保费 近十年变化（2013-2023） | 排名 | | | 分红险 | 十年 | 险种占比 | | 市场份额 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 20 221 | | 公司 | | 复合 增长率。 | 202 P | "变化 | 2023 | 精要 | | 1 | ↓ ਦੇ | 泰康人寿 | 1,222.5 | 8.6% | 61% | -27% | 17.2% | 10.7% | | 371 | T 1 | 中国人寿3 | 836.3 | -10.1% | 13% | -61% | 11.8% -18.0% | | | 3 | VI | 近平安寿险 | 627.26 | -5.9% | 13% ...

qqqqqqqqqqqqqqqqqqq 股指期货市场概况 从整体表现来看，上周四大期指主力合约均上涨，中证 1000 期指涨幅最大，幅度为 5.49%，上证 50 期指涨幅最小， 幅度为 1.27%。上周四大期指主力合约贴水均收窄。IF、IC、IM 和 IH 期指均为贴水状态。 全部合约角度看，较上周而言，四大期指当月、下月、当季和下季合约的平均成交量升降不一，其中 IH 上升幅度最 大，为 7.98%，IC 下降幅度最大，为-4.93%。四大期指上周最后一个交易日的合计持仓量均上升，其中 IH 上升幅度 最大，为 30.34%，IM 上升幅度最小，为 9.50%。 基差水平方面，截至上周最后一个交易日收盘，IF、IC、IM 和 IH 当季合约的年化基差率分别为-4.84%、-8.50%、- 11.12%和-4.28%，较上周最后一个交易日，四大期指贴水幅度均有所收窄。 跨期价差方面，截至上周五收盘，IF、IC、IM和IH当月合约与下月合约的跨期价差率分别处在2019年以来的63.90%、 58.80%、76.50%和 64.00%分位数。四大期指当月合约与下月、当季、下季的价差率均处于历史分布常态位置。 正 ...

Core Viewpoint - The article emphasizes the importance of mid-term dividend plans as a significant factor influencing stock prices, especially during the mid-term reporting period, encouraging investors to seek quality companies with a history of mid-term dividends for potential buying opportunities [1][3]. Group 1: Mid-term Dividend Significance - Regulatory changes in 2024 have encouraged listed companies to increase dividend frequency and stabilize dividend expectations, making mid-term dividends a critical aspect for companies, particularly in cash-rich sectors like consumer goods and pharmaceuticals [1][2]. - High dividend payout ratios reflect a company's financial health and free cash flow availability, with industries like liquor maintaining high gross margins (over 70%) and low capital expenditure needs, making dividends a primary profit distribution method [1][2]. - Companies with clear dividend plans often exhibit better governance transparency and capital allocation strategies, which can enhance investor confidence [1][2]. Group 2: Criteria for Selecting Mid-term Dividend Stocks - Investors should consider historical dividend records, prioritizing companies with a track record of mid-term dividends [2]. - Companies with strong operating cash flow relative to net profit are more likely to issue mid-term dividends, with a higher operating cash flow ratio indicating greater dividend potential [2]. - Industries with stable cash flows, such as consumer goods and utilities, are more likely to implement high dividends, while sectors like technology may have lower dividend ratios due to ongoing R&D needs [2]. Group 3: Dividend Traps to Avoid - High dividend payouts with low growth can indicate a company sacrificing future reinvestment capabilities, leading to declining performance, which investors should be cautious of [2]. - Companies may manipulate accounting profits through non-recurring gains, masking cash flow issues; thus, investors should verify the alignment between operating cash flow and net profit [2]. - During market downturns, high dividends may not offset systemic risks, and high dividend yield companies can still experience short-term corrections [2]. Group 4: Investment Strategy - The search for mid-term dividend potential stocks is fundamentally about identifying cash cows and exemplary benchmarks, with a shift in the A-share market towards investment rather than financing [3]. - Investors are encouraged to seize short-term trading opportunities during the mid-term reporting season while maintaining a long-term holding strategy to benefit from both company growth and compounding dividends [3].

Core Viewpoint - The peak dividend distribution period for A-share listed banks has arrived, with a total dividend of 427.38 billion yuan already distributed, accounting for nearly 70% of the total cash dividends for A-share listed banks in 2024 [1][3] Dividend Distribution Situation - As of June 27, 16 A-share listed banks have yet to fully implement their 2024 profit distribution plans, but all have passed shareholder meetings for approval. Everbright Bank announced its profit distribution plan on the same date [2] Market Reaction and Analysis - Analysts indicate that the dividend policies of listed banks reflect their profitability and commitment to shareholder returns. The ongoing dividend peak is increasing investor interest in bank stocks. Stable dividend policies are crucial for attracting long-term investors in the current economic environment. As more banks complete their profit distribution plans, the total dividend amount for A-share listed banks is expected to rise further. The market anticipates that with economic recovery and improved bank profitability, dividend policies will remain stable, providing continuous returns to shareholders [3] Specific Bank Dividend Details - Hu'nong Commercial Bank: Cash dividend of 0.30 yuan per share distributed on June 27 - Yu'nong Commercial Bank: Cash dividend of 0.35 yuan per share distributed on June 27 - Zhe'shan Bank: Cash dividend of 0.20 yuan per share distributed on June 27 [4]

证券研究报告|行业点评报告 [Table_Date] 2025 年 06 月 30 日 [Table_Title] 保险业 2025 年 5 月保费点评：寿险增速延续 扩大，财险保持稳健 [Table_Title2] 保险Ⅱ 行业评级: 推荐 [Table_Summary] 分析与判断: ► 人身险：5 月寿险保费增幅延续扩大 2025 年 1-5 月人身险公司原保费收入 22,797 亿元，同比+3.3%。其中寿险/意外险/健康险原保费收入分别 为 18,735/183/3,879 亿元，分别同比+3.9%/-5.5%/+0.9%。5 月单月，人身险公司原保费收入 3,328 亿元，同 比+16.6%，其中寿险/意外险/健康险原保费收入 2,674/30/624 亿元，分别同比+24.1%/-8.5%/-6.3%。寿险单月 保费同比显著高增，且增幅自年初以来连续扩大，我们预计主要系存款利率下调，叠加保险预定利率三季度下 调预期催化。2025 年 1-5 月保户投资款新增交费（以万能险为主）3,406 亿元，同比-4.3%，其中 5 月单月同比 +1.2%（增速环比-14.8pp），我们预计主要系万能险结算利 ...

Group 1 - The core viewpoint of the articles highlights that listed banks in China are distributing dividends, with a total cash dividend amount reaching 6,319.56 billion yuan for 2024, reflecting a year-on-year increase of 3.03% [1] - A total of 26 banks have implemented their profit distribution plans for the year 2024, with 14 banks completing both mid-term and year-end dividends [1] - Among the 42 A-share banks, 39 have increased their cash dividends compared to the previous year, with an overall increase of 186 billion yuan in total dividend amounts [1] Group 2 - Notably, Ningbo Bank has proposed a cash dividend of 9 yuan per 10 shares for 2024, marking a second consecutive year of increased dividend payouts [2] - 25 A-share listed banks have raised their cash dividend ratios for 2024, with Ningbo Bank's ratio increasing by 6.3 percentage points to 21.91% [2] - Industrial Bank and Citic Bank have also reported consistent increases in their cash dividend ratios, with Industrial Bank's ratio reaching 30.73% for 2024 and Citic Bank planning a cash dividend of 194.55 billion yuan [2]