来源：上海证券报·中国证券网 上证报中国证券网讯（记者 陈佳怡）8月28日晚间，上海银行公告，经公司董事会2025年第八次会议审 议通过，2025年中期利润分配方案如下：拟向全体普通股股东每10股派发现金股利3.00元（含税），合 计拟派发普通股现金股利约42.63亿元（含税），占合并报表归属于母公司普通股股东的净利润的比例 为32.22%。 上海银行高度重视投资者分享经营发展成果、获取合理投资回报诉求，为股东提供持续、稳定、合理的 投资回报。上海银行积极响应一年多次分红、增强投资者获得感政策导向，2024年首次实施中期分红， 2025年中期分红比例进一步提升至32.22%；2022年度、2023年度、2024年度现金分红比例分别为 26.75%、30.06%、31.22%，连续两年保持提升。 2025年4月，上海银行发布估值提升计划，计划未来3年每年年度现金分红比例不低于30%，持续向市场 和投资者传递确定性。 ...

Core Insights - The company reported a revenue of 70.041 billion yuan for the first half of 2025, representing a year-on-year growth of 26.0% [1] - The net profit attributable to shareholders for the same period was 14.799 billion yuan, showing a year-on-year increase of 33.5% [1] - The company plans to distribute an interim cash dividend of 0.67 yuan per share, totaling approximately 2.09 billion yuan, which accounts for 14.1% of the net profit attributable to shareholders for the first half of 2025 [1] Business Performance - In the life insurance segment, the company achieved original insurance premium income of 121.262 billion yuan, a year-on-year growth of 22.7% [1] - The new business value for the first half of 2025 was 6.182 billion yuan, reflecting a significant year-on-year increase of 58.4% [1] - The total number of multi-channel marketing agents remained stable at 145,387, consistent with the end of 2024 [1] Investment Performance - As of June 30, 2025, the company's investment scale reached 1,712.522 billion yuan [1] - The annualized total investment return rate for the first half of 2025 was 5.9% [1] - The annualized comprehensive investment return rate for the same period was 6.3% [1]

Core Insights - The company achieved total revenue of 1.38 billion yuan in the first half of 2025, representing a year-on-year growth of 8.39% [1] - The company reported a net profit attributable to shareholders of 112 million yuan, with a year-on-year increase of 12.14% [1] Revenue Breakdown - In Q2 2025, the company generated total revenue of 711 million yuan, marking a year-on-year growth of 9.54% [1] - The net profit attributable to shareholders for Q2 2025 was 59 million yuan, reflecting a year-on-year increase of 22.31% [1] - Revenue from compound seasonings, light cooking solutions, and beverage sweeteners in Q2 2025 grew by 9.2%, 15.0%, and declined by 16.8% respectively [1] - The company’s revenue from the "empty carving" category reached 505 million yuan in the first half of 2025, with a year-on-year growth of 11.21% [1] Channel Development - In Q2 2025, revenue from direct sales and non-direct sales channels increased by 11.9% and 2.3% year-on-year respectively [1] - The company is actively expanding into new sales channels such as membership-based stores, large chain supermarkets, discount snack stores, and O2O instant retail [1] Profitability and Dividends - The gross margin for Q2 2025 was 24.7%, an increase of 2.6 percentage points year-on-year, primarily due to changes in product mix [2] - The company’s net profit margin attributable to shareholders improved by 0.34 percentage points to 7.5% in Q2 2025 [2] - The company plans to distribute a cash dividend of 56 million yuan (before tax) for the first half of 2025, with a dividend payout ratio of approximately 48% [2] Capacity Expansion - The company’s supply chain layout is progressing well, supporting business growth [2] - A new seasoning production base in Shandong officially commenced operations in the first half of 2025, significantly enhancing capacity in the semi-solid seasoning sector [2] - The company is also expanding its spice processing project in Guangxi and plans to establish an intelligent production base in Shanghai [2]

2025 年 08 月 28 日 苏农银行 (603323) ——首推中期分红，稳健基本面获险资青睐 报告原因：有业绩公布需要点评 买入（维持） | 市场数据： | 2025 年 08 月 27 日 | | --- | --- | | 收盘价（元） | 5.33 | | 一年内最高/最低（元） | 6.26/4.13 | | 市净率 | 0.6 | | 股息率%（分红/股价） | 3.38 | | 流通 A 股市值（百万元） | 10,759 | | 上证指数/深证成指 | 3,800.35/12,295.07 | | 注："股息率"以最近一年已公布分红计算 | | | 基础数据: | 2025 年 06 月 30 日 | | --- | --- | | 每股净资产（元） | 9.19 | | 资产负债率% | 91.68 | | 总股本/流通 A 股(百万) | 2,019/2,019 | | 流通 B 股/H 股（百万） | -/- | 一年内股价与大盘对比走势： 08-27 09-27 10-27 11-27 12-27 01-27 02-27 03-27 04-27 05-27 06-27 07-27 ...

证券代码：603667 证券简称：五洲新春 公告编号：2025-069 中期分红方案的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 浙江五洲新春集团股份有限公司（以下简称"公司"或"五洲新春"）根 据《公司法》《上市公司监管指引第3号——上市公司现金分红》等相关法律、 法规规定，为维护公司价值及股东权益、提高投资者获得感，公司董事会提请 股东大会授权董事会在满足现金分红条件、不影响公司正常经营和持续发展的 情况下，结合未分配利润与当期业绩等因素综合考虑，制定和实施中期分红方 案。具体授权情况如下: 一、中期分红的安排 根据实际情况适当实施中期分红,中期分红上限不超过相应期间归属于上市 公司股东的净利润。具体的现金分红比例由董事会根据前述规定、结合公司经 营状况及相关规定拟定。 浙江五洲新春集团股份有限公司 关于提请股东大会授权董事会制定 （三）授权内容及期限 公司董事会提请股东大会就2025年度中期分红事项对董事会的相关授权包 括但不限于决定是否进行利润分配、制定具体利润分配方案以及实施利润分配 的具体金额和时间等。授 ...

Group 1 - The A-share market is experiencing increased investor interest, with over 60% of large private equity firms nearing full investment positions, averaging a stock position of 82.29%, up 8.16 percentage points from the previous week [1] - Private equity firms are focusing on technology growth, small and mid-cap stocks, and high-prosperity sectors while maintaining high investment levels [1] - The turnover rate of market funds has reached historical highs, indicating potential for increased short-term volatility [1] Group 2 - As of August 26, 149 A-share companies have seen securities firms among their top ten shareholders, with 32 companies experiencing increases in holdings by these firms in Q2 [2] - Securities firms have newly entered the top ten shareholders of 81 companies, reflecting their recognition of these companies' investment value [2] - The industries favored by securities firms for increased holdings include chemicals, non-ferrous metals, and machinery, with a positive outlook on chemical industry blue-chip stocks and engineering machinery [2] Group 3 - The issuance and utilization of government bonds have accelerated this year, with nearly 1 trillion yuan in special government bonds issued, representing a 76.6% progress rate [3] - Local governments have issued 31,497.6 billion yuan in new special bonds, surpassing the issuance scale of the same period last year [3] - The rapid issuance of bonds is expected to provide strong support for economic stability, with policies likely to adapt to changing circumstances [3] Group 4 - Several actively managed equity funds are adjusting their strategies to focus on semiconductor and computing sectors related to the automotive industry, targeting opportunities over the next 1 to 3 years [4] - There is a trend of actively managed funds reshaping their product positioning to target long-cycle opportunities in technology sub-sectors [4] Group 5 - The first convertible bond has been successfully issued on the Beijing Stock Exchange, with significant participation from various investors [5] - The issuance of convertible bonds is expected to gain momentum, with other companies also moving forward with their issuance plans [5] Group 6 - The total scale of public funds in China has surpassed 35 trillion yuan for the first time, with 164 fund management institutions managing these assets [6] - This milestone reflects the rapid development of the public fund industry in China [6] Group 7 - A growing number of companies are announcing interim dividend plans, with around 400 companies disclosing dividend proposals totaling approximately 180 billion yuan [8] - The trend of high, frequent, and substantial dividends is encouraged by policies aimed at enhancing dividend stability and predictability [8] Group 8 - Recent data indicates a net inflow of 6.98 billion yuan from active foreign capital into Chinese assets, marking the first net inflow since October 2024 [9] - This shift suggests a growing confidence among foreign investors in the investment opportunities within the A-share market [9] Group 9 - The financing and margin trading balance in the Shanghai and Shenzhen markets has reached a new high of 2.1883 trillion yuan, reflecting increased investor demand [10] - A price war among brokerage firms regarding margin trading rates is intensifying, with some rates dropping below 3% [10] Group 10 - The State Council has released an opinion to promote the "Artificial Intelligence +" initiative, emphasizing financial and fiscal support for AI development [11] - The initiative aims to enhance the integration of AI across various sectors of the economy [11] Group 11 - The total scale of domestic ETFs has reached 5.07 trillion yuan, marking a significant milestone in the rapid development of the public fund industry [12] - This growth indicates improvements in market structure, investor maturity, and financial innovation within China's capital markets [12] Group 12 - Over half of the 106 listed automotive parts companies reported both revenue and net profit growth in the first half of 2025, with many actively exploring opportunities in robotics [13] - This trend highlights the industry's adaptation to new technological waves [13]

国信证券首席策略分析师王开表示，一批行业龙头正在用真金白银稳定投资者预期，这不仅是企业自身 经营稳健、现金流充沛的实力展现，更是A股市场生态走向成熟、更加注重股东回报的标志性信号。头 部公司的引领示范清晰地向市场传递了一个积极信号——国内核心资产具备为投资者提供持续、稳定现 金回报的能力，价值投资的压舱石作用愈发凸显。 中期分红乃至一年多次分红正逐渐成为新常态。 随着半年报高峰期来临，中期分红的队伍逐步扩大。近期，泰禾股份、中钢天源和炬芯科技在披露2025 年半年报的同时，首次公布了中期分红方案。此前，中国中车、恒力石化、长安汽车等多家龙头上市公 司也公开了首次中期分红计划。 中期分红是上市公司向资本市场传递经营质量的重要信号。南开大学金融学教授田利辉表示，一批上市 公司尤其行业龙头正在用真金白银对全年经营情况进行注脚，也反映出对行业发展前景的积极预期。中 期分红乃至一年多次分红正逐渐成为新常态，回馈投资者正在从"选择题"变为"必答题"。 中期分红队伍扩围 超20家上市公司在近期公布了首次中期分红计划。8月24日，泰禾股份、中钢天源和炬芯科技披露的上 半年利润分配方案显示，拟合计现金分红1.53亿元。其中，泰 ...

中期分红乃至一年多次分红正逐渐成为新常态。 随着半年报高峰期来临，中期分红的队伍逐步扩大。近期，泰禾股份、中钢天源和炬芯科技在披露2025年半年报的同时，首次公布了中期分红方案。此前， 中国中车、恒力石化、长安汽车等多家龙头上市公司也公开了首次中期分红计划。 中期分红是上市公司向资本市场传递经营质量的重要信号。南开大学金融学教授田利辉表示，一批上市公司尤其行业龙头正在用真金白银对全年经营情况进 行注脚，也反映出对行业发展前景的积极预期。中期分红乃至一年多次分红正逐渐成为新常态，回馈投资者正在从"选择题"变为"必答题"。 另有宁德时代、牧原股份、中国联通等多家公司分红金额均超过30亿元，超六成上市公司的中期分红金额在千万元级别左右。 分行业看，银行股的中期分红比例较高，目前已有多家银行披露中期分红意向。常熟银行每股拟派发现金分红0.15元（含税），共计拟派发4.97亿元。平安 银行拟中期分红45.8亿元，杭州银行也召开股东大会审议通过中期利润分配方案的议案。 中期分红队伍扩围 超20家上市公司在近期公布了首次中期分红计划。8月24日，泰禾股份、中钢天源和炬芯科技披露的上半年利润分配方案显示，拟合计现金分红1.5 ...

Core Viewpoint - The trend of mid-term dividends among listed companies is increasing, indicating a shift from sporadic occurrences to a regular practice in the market, with multiple dividends becoming the new norm [1][3]. Group 1: Increase in Mid-term Dividends - Over 20 listed companies have recently announced their first mid-term dividend plans, including Taihe Co., China Steel Tianyuan, and Yuchip Technology, with cash dividends per 10 shares of 2 yuan, 0.6 yuan, and 1 yuan respectively [3]. - Major companies like CRRC, Hengli Petrochemical, and Changan Automobile have also announced their first mid-term dividend plans, with CRRC planning to distribute 1.1 yuan per 10 shares, totaling 3.157 billion yuan [3][4]. - The cash dividend ratios for Taihe Co., China Steel Tianyuan, and Yuchip Technology are approximately 49%, 31%, and 19% respectively, reflecting a growing emphasis on shareholder returns [3]. Group 2: Record High Dividend Scale - Approximately 400 companies have disclosed mid-term dividend plans, with a total planned dividend amount of around 180 billion yuan, marking a historical high [4]. - Major companies such as China Mobile, China Telecom, and Sinopec have mid-term dividends exceeding 10 billion yuan, with amounts of 54 billion yuan, 16.581 billion yuan, and 10.67 billion yuan respectively [4]. - More than 60% of listed companies have mid-term dividends in the million yuan range, with banks showing a higher dividend ratio, as evidenced by Changshu Bank and Ping An Bank's announced dividend plans [4]. Group 3: Characteristics of Current Dividends - The current dividend landscape is characterized by high amounts, high ratios, and high frequencies, with 3,720 companies planning cash dividends totaling approximately 2.4 trillion yuan in 2024 [5]. - This figure not only sets a new historical record but also marks the third consecutive year exceeding 2 trillion yuan in total dividends [5]. - Many companies have indicated plans for stable and regular returns to investors, committing to annual profit distributions when conditions allow, including a certain proportion of cash dividends [5].

Group 1 - The company plans to distribute a cash dividend of 1.00 yuan per 10 shares, totaling 77,699,358.30 yuan, which represents a cash dividend ratio of 25.90% based on the total share capital as of June 30, 2025 [1][52] - The company has announced the date for the fourth extraordinary general meeting of shareholders to be held on September 11, 2025, at 10:30 AM [4][7] - The voting for the upcoming shareholders' meeting will be conducted through a combination of on-site and online voting methods [5][6] Group 2 - The company intends to provide a joint liability guarantee for its subsidiaries, Xinjiang Huijin Logistics and Aksu Yikang Warehousing, for their regulatory cotton storage and cotton futures delivery business [21][30] - The guarantee period for the regulatory cotton storage business is set for two years from the termination of the relevant cooperation agreement, while the guarantee for cotton futures delivery will last for three years from the date the Zhengzhou Commodity Exchange obtains the right to claim against the delivery warehouse [22][27] - The board of directors has unanimously approved the guarantee proposal, emphasizing that it will enhance the market competitiveness of the subsidiaries and contribute to the overall economic benefits for the company and its shareholders [32][42] Group 3 - The company has reported a total of 32.22 billion yuan in external guarantees, which accounts for 89.71% of the company's audited net assets as of the end of 2024 [33][43] - The company has no overdue guarantee matters, and the external guarantee balance is 8.52 billion yuan, representing 23.73% of the company's audited net assets as of the end of 2024 [33][43] - The company has committed to providing a maximum of 9.26 billion yuan in joint liability guarantees for its subsidiaries' banking and financing activities [38][40]