河南豫光金铅股份有限公司董事会 战略及投资委员会 2025 年第二次会议决议 河南豫光金铅股份有限公司（以下简称"公司"）董事会战略及投资委员会 决委员三名，实际参加表决委员三名，会议的召开符合《公司章程》及《公司董 事会战略及投资委员会实施细则》的有关规定。会议审议通过了以下议案： 一、审议通过《关于公司符合向特定对象发行股票条件的议案》 根据《公司法》《中华人民共和国证券法》（以下简称《证券法》）、《上市公 司证券发行注册管理办法》 （以下简称《注册管理办法》）等相关法律、法规及规 范性文件的规定，我们对公司申请向特定对象发行股票的资格和条件进行了认真 审查，认为公司符合向特定对象发行股票的各项资格和条件，同意《关于公司符 合向特定对象发行股票条件的议案》，并同意将本议案提交公司第九届董事会第 十九次会议审议。 表决结果：赞成票 3 票，反对票 0 票，弃权票 0 票 本议案尚须董事会审议通过后提交公司股东会审议。 二、审议通过《关于公司 2025 年度向特定对象发行股票方案的议案》 根据《公司法》 《证券法》 《注册管理办法》等相关法律、行政法规、规范性 文件和《公司章程》的相关规定，公司结合实际情况， ...

本规划的制定应符合相关法律法规及《公司章程》中有关利润分配的规定， 充分考虑和听取独立董事和社会公众股东的意见，重视对股东的合理投资回报并 兼顾公司的可持续发展，保持公司利润分配政策的连续性和稳定性，并优先采用 现金分红的利润分配方式。 河南豫光金铅股份有限公司 未来三年（2025-2027年）股东回报规划 河南豫光金铅股份有限公司（以下简称"公司"）拟申请向特定对象发行 A 股股票，为进一步增强回报股东意识，建立和健全公司股东回报机制，公司董事 会根据中国证监会《中华人民共和国公司法》（以下简称《公司法》）、《上市 公司监管指引第 3 号——上市公司现金分红》和《河南豫光金铅股份有限公司章 程》（以下简称《公司章程》）的有关规定，结合公司实际发展情况，制定了《河 南豫光金铅股份有限公司未来三年（2025-2027 年）股东回报规划》（以下简称 "本规划"），具体内容如下： 一、制订本规划的主要考虑因素 公司着眼于长远和可持续发展，在综合分析企业经营发展战略、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，充分考虑公司目前及 未来的财务结构、盈利能力、现金流量状况、发展所处阶段、项目投资资金需 求 ...

证券研究报告 | 公司动态点评 2025 年 08 月 13 日 塔牌集团（002233.SZ） 量增本降助力业绩高增，回购+高股息展现投资价值 作者 分析师 花 江月 执业证书编号：S1070522100002 | 财务指标 | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业收入（百万元） | 5,535 | 4,278 | 4,413 | 4,532 | 4,769 | | 增长率 yoy（%） | -8.3 | -22.7 | 3.2 | 2.7 | 5.2 | | 归母净利润（百万元） | 742 | 538 | 676 | 742 | 802 | | 增长率 yoy（%） | 178.5 | -27.5 | 25.7 | 9.7 | 8.1 | | ROE（%） | 6.2 | 4.6 | 5.7 | 6.0 | 6.4 | | EPS 最新摊薄（元） | 0.62 | 0.45 | 0.57 | 0.62 | 0.67 | | P/E（倍） | 13.7 | 18.8 | 15.0 ...

全体股东的整体利益及公司的可持续发展；公司利润分配不得超过累计可分配 利润总额，不得损害公司持续经营能力； 二、未来三年股东回报规划（2025-2027） （一）公司利润分配具体政策 北京海兰信数据科技股份有限公司 为进一步规范和完善公司的利润分配政策，增强利润分配的透明度，保证 投资者分享公司的发展成果，引导投资者形成稳定的回报预期，北京海兰信数 据科技股份有限公司（以下简称"公司"）董事会根据中国证监会《关于进一步 落实上市公司现金分红有关事项的通知》（证监发[2012]37 号文）、《上市公司监 管指引第 3 号——上市公司现金分红》（证监会公告[2023]61 号文）等文件的指 示精神和《北京海兰信数据科技股份有限公司章程》（以下简称"《公司章程》"） 等相关文件规定，结合公司实际情况，制定了《北京海兰信数据科技股份有限 公司未来三年股东回报规划（2025 年—2027 年）》（以下简称"股东回报规划"）， 具体内容如下： 一、公司制定股东回报规划的原则 规定比例向股东分配股利； 配股利。在有条件的情况下，公司可以进行中期利润分配。 除特殊情况外，公司在当年盈利且累计未分配利润为正的情况下，采取现 金 ...

Group 1 - The core viewpoint of the article highlights the recent research conducted by Huamei International on Guoguang Co., which includes insights on the company's dividend plan and competitive advantages in the pesticide market [1] - Guoguang Co. plans to distribute a cash dividend of 4.00 yuan (including tax) for every 10 shares for the first half of 2025, indicating a commitment to shareholder returns over the next three years [1] - The "one certificate, one product" policy effective from January 1, 2026, will require pesticide products with the same registration certificate number to be labeled with the same trademark, enhancing product quality assurance and market order [1] - Guoguang Co. adjusts product prices based on competitive environment, supply-demand relationships, and end-user demand, with more frequent adjustments for competitive products [1] - To mitigate risks in overseas pesticide business and seize commercial opportunities, Guoguang Co. has signed a cultivation agreement with related party Yan Yaqi to develop overseas pesticide projects in Asia, Africa, and Latin America [1] Group 2 - Huamei International Investment Group Co., established in 2000, has a registered capital of 138 million yuan and is located in Tianhe District, Guangzhou [2] - The company obtained private fund management qualifications in 2015 and has established research centers in major cities including Beijing, Shanghai, Shenzhen, Guangzhou, and Hong Kong [2] - The investment research team comprises members from well-known public and private funds, as well as securities and futures institutions, indicating a wealth of research and investment experience [2]

Group 1 - The core viewpoint of the news is that Guoguang Co., Ltd. is planning to distribute a cash dividend of 4.00 yuan (including tax) for every 10 shares for the first half of 2025, indicating a commitment to shareholder returns over the next three years [1] - The "One Certificate, One Product" policy effective from January 1, 2026, mandates that pesticide products with the same registration certificate number must be labeled with the same trademark, which will enhance product quality assurance and market order [1] - Guoguang Co., Ltd. adjusts product prices based on competitive environment, supply-demand relationships of raw materials, and end-user demand, with more frequent adjustments for products in a competitive market [1] Group 2 - To mitigate risks in overseas pesticide business and seize commercial opportunities, Guoguang Co., Ltd. has signed a "Cultivation Agreement" with related party Mr. Yan Yaqi to cultivate overseas pesticide projects in Asia, Africa, and Latin America [1] - Guangzhou Ruimin Investment Management Co., Ltd. is a private equity fund management company focused on secondary market investments, with a rigorous investment research decision-making process and risk control system [2] - The company aims to discover undervalued listed companies through value investment principles and provides customized investment management services to achieve stable asset appreciation [2]

Group 1 - The core point of the news is that a well-known private equity firm, Zhengyuan Investment, has conducted research on a listed company, Guoguang Co., which plans to distribute a cash dividend of 4.00 yuan per 10 shares for the first half of 2025, indicating a commitment to shareholder returns over the next three years [1] - The "One Certificate, One Product" policy effective from January 1, 2026, mandates that pesticide products with the same registration certificate number must be labeled with the same trademark, which is expected to enhance product quality and market order, giving companies with quality registration certificates a competitive edge [1] - Guoguang Co. adjusts product prices based on competitive environment, supply-demand relationships, and end-user demand, with frequent adjustments for competitive products and stable prices for others [1] - To mitigate risks in overseas pesticide business and seize commercial opportunities, Guoguang Co. has signed a "Cultivation Agreement" with related party Mr. Yan Yaqi to develop overseas pesticide projects in Asia, Africa, and Latin America [1] Group 2 - Zhengyuan Investment, established in 2015 in the Qianhai Free Trade Zone of Shenzhen, holds a private securities investment fund license and has a professional investment research team with rich experience and a sound risk management system [2] - The firm focuses on China's economic structural transformation and upgrading, aiming to serve the development of the real economy by connecting social capital with quality industries, thereby achieving asset preservation and appreciation for clients [2]

深圳市致尚科技股份有限公司 未来三年（2025 年-2027 年）股东回报规划 为进一步规范和完善公司的利润分配政策，增强利润分配的透明度，保证投 资者分享公司的发展成果，引导投资者形成稳定的回报预期，根据中国证监会《 关 于进一步落实上市公司现金分红有关事项的通知》 （证监发[2012]37 号文）、 上 市公司监管指引第 3 号——上市公司现金分红》（证监会公告[2023]61 号文）等 文件的指示精神和《 深圳市致尚科技股份有限公司章程》（以下简称《 《 公司章 程》"）等相关文件规定，结合公司实际情况，深圳市致尚科技股份有限公司《 （以 （2025 下简称《 公司"）董事会编制了《 深圳市致尚科技股份有限公司未来三年《 年—2027 年）股东回报规划》（以下简称《 股东回报规划"），具体内容如下： 一、公司制定股东回报规划的原则 本规划的制定应在符合《 公司章程》以及有关利润分配规定的基础上，充分 考虑对投资者的回报，认真听取投资者《 （特别是中小投资者）、独立董事和监事 的意见，兼顾全体股东的整体利益、公司长远利益及可持续发展，建立对投资者 持续、稳定、科学的回报规划与机制，保持公司利润分配政策的连 ...

Core Viewpoint - The company has established a shareholder return plan aimed at enhancing transparency and protecting the rights of minority shareholders while ensuring sustainable development and reasonable returns on investment [1][2]. Group 1: Shareholder Return Plan - The company considers long-term sustainable development, operational realities, reasonable returns for shareholders, social capital costs, and external financing environments when formulating its shareholder return plan [2]. - The profit distribution policy emphasizes a scientific, sustainable, and stable approach, prioritizing reasonable returns for investors while considering the opinions of independent directors and shareholders, especially minority investors [2][3]. - The company aims to maintain a cash dividend policy, distributing at least 10% of the annual distributable profit in cash, with a cumulative cash distribution over three consecutive years not less than 30% of the average annual distributable profit for those years [3]. Group 2: Profit Distribution Policy - The company will prioritize cash dividends while ensuring that the total cash distribution does not exceed the cumulative distributable profit and does not impair the company's ongoing operational capacity [3]. - The decision-making mechanism for profit distribution involves assessing the company's financial status, development stage, and current funding needs, along with input from shareholders and independent directors [3]. - Any adjustments to the established cash dividend policy must meet the conditions set forth in the company's articles of association and require a two-thirds majority approval from attending shareholders at the general meeting [3][4].

Group 1 - The company is a public utility platform under the Zhongshan State-owned Assets Supervision and Administration Commission, focusing on three main sectors: water services, solid waste management, and renewable energy [1] - Water services serve as the core business, ensuring stable revenue, with a water supply capacity of 2.65 million tons per day and a market share of 94%. A potential price adjustment of 20% to 30% could increase net profit by 120 to 180 million yuan, representing a 10% to 15% increase in net profit for 2024 [1] - The solid waste management sector is expanding through acquisitions, with a projected capacity of 6,120 tons per day by 2025 [1] - In renewable energy, the company is establishing joint ventures and Pre-REITs funds, focusing on distributed photovoltaic and integrated energy storage, with approximately 500 MWp currently connected or under construction [1] Group 2 - The company holds a 10.55% stake in GF Securities, contributing significantly to its profits, with an estimated net profit of 1.199 billion yuan in 2024, of which 1.008 billion yuan comes from investment income [2] - GF Securities is expected to see improvements in performance and valuation due to structural changes and a stronger market, which could positively impact the company's overall performance [2] - The company plans to implement a three-year shareholder return plan and promote equity incentives, with a special dividend payout ratio of 53% expected in 2024 [2] - Forecasted net profits for the company from 2025 to 2027 are 1.428 billion, 1.775 billion, and 2.072 billion yuan, respectively, with a reasonable valuation estimated at 18.3 to 19.4 billion yuan, indicating a potential upside of 29% to 36% from the current market value [2]