Core Viewpoint - The trend of mid-year dividend distribution among listed companies in China is increasing, with many companies announcing their first mid-year dividends, reflecting a growing awareness of returning value to investors [1][2][6] Group 1: Mid-Year Dividend Announcements - Numerous companies have announced mid-year dividend plans, with several making their first distributions, such as Ningde Times proposing a cash dividend of 10.07 yuan per 10 shares, totaling 4.573 billion yuan [1] - In the Shenzhen market, 14 companies have announced mid-year dividends, with 8 of them being first-time distributors, including Haida Group and AVIC Chengfei, with cash dividends ranging from 1.20 yuan to 6.23 yuan per 10 shares [2] - Wison Information and WuXi AppTec also joined the trend, with Wison proposing a cash dividend of 1.22 billion yuan, representing 40% of its net profit [2] Group 2: Future Dividend Plans - Companies are increasingly releasing long-term dividend plans, such as Yonghui Supermarket's three-year plan prioritizing cash dividends and allowing for mid-year distributions [4] - Jingyan Technology also announced a three-year plan, committing to maintain a minimum of 15% cash distribution of its distributable profits annually [4][5] Group 3: Regulatory Influence - The China Securities Regulatory Commission has been promoting more frequent dividend distributions, encouraging companies to adopt innovative models like pre-dividends and multiple distributions per year [6] - Data shows a significant increase in mid-year dividends in 2024, with approximately 504 companies distributing a total of 580 billion yuan, marking a substantial rise compared to previous years [6]

Core Viewpoint - The trend of increasing mid-term dividend distributions among A-share listed companies reflects a growing commitment to shareholder returns and confidence in stable business performance, particularly among leading firms in the Shenzhen Stock Exchange [1][3]. Group 1: Dividend Distribution Trends - As of July 30, 2025, 14 companies in the Shenzhen market have announced mid-term profit distribution plans, totaling 10.251 billion yuan, with 8 companies implementing mid-term dividends for the first time [1]. - Leading companies are setting an example by actively distributing dividends, which enhances investor confidence and establishes a benchmark for profitability and returns [1][2]. - Notable companies like CATL plan to distribute 4.573 billion yuan in cash dividends, indicating a strategic shift towards more frequent and substantial shareholder returns [2]. Group 2: Long-term Strategic Planning - An increasing number of companies are integrating shareholder returns into their long-term strategic frameworks, moving from reactive to proactive dividend planning [3][5]. - In 2024, 216 companies announced mid-to-long-term shareholder dividend plans, with an additional 165 companies doing so in 2025, indicating a clear trend towards stable and predictable returns [3][5]. - Companies like Guangzhou Yuyin Technology have established formal profit distribution systems, prioritizing cash dividends while ensuring sustainable operations [3][4]. Group 3: Market Implications - The shift towards systematic dividend commitments is reshaping investor expectations and promoting a consensus around stable returns, which could lead to better resource allocation in the capital market [5]. - This trend not only strengthens the relationship between companies and investors but also supports the healthy and stable operation of the capital market [3][4].

Core Viewpoint - The trend of mid-term dividends is becoming mainstream among listed companies in China's A-share market, with an increasing number of companies announcing mid-term profit distribution plans, reflecting a growing focus on shareholder returns and investor confidence [1][2][4]. Group 1: Mid-term Dividend Trends - As of July 22, 329 listed companies in the A-share market have announced plans for mid-term dividends for 2025, indicating a shift towards more frequent dividend distributions [1]. - Companies like WoHua Pharmaceutical and JuZan Optoelectronics have proposed specific dividend plans, such as a cash dividend of 1.2 yuan per 10 shares and a stock dividend of 4.5 shares for every 10 shares, respectively [1][2]. - The reasons for these dividend announcements include "returning to investors" and "enhancing investor confidence," which have become key themes among companies [1][2]. Group 2: Investor Sentiment and Market Impact - The trend of multiple dividends per year is seen as a way to provide investors with more opportunities for low-cost accumulation of shares, making these stocks attractive [3]. - Institutions like Bosera Fund view frequent dividends as a means to boost investor confidence and attract long-term capital, such as insurance funds and pensions [3]. - Goldman Sachs predicts that by the end of 2025, Chinese listed companies will distribute 3 trillion yuan in dividends, a record high that is expected to attract more global investors and enhance company valuations [3]. Group 3: Policy Support and Regulatory Framework - The positive changes in dividend distribution are attributed to both companies' focus on value management and the ongoing policy support aimed at increasing dividend rates [4]. - The new "National Nine Articles" released last year emphasizes cash dividend regulation and encourages high-dividend companies, promoting trends like multiple dividends per year and pre-dividends [4]. - Experts suggest that optimizing dividend policies and simplifying procedures can further enhance the frequency and stability of dividends, aligning with companies' long-term development needs [5].