Core Insights - The Hong Kong stock market's dividend-themed assets are gaining attention as a defensive investment amid year-end market volatility, with a total scale of 701 billion HKD for 26 dividend-themed ETFs as of November 25, 2025, reflecting a growth of 7 billion HKD in just 7 trading days in November [1] - The Hong Kong Stock Connect Dividend ETF (513530) has seen continuous net inflows for 10 consecutive trading days, reaching a new high of 2.496 billion HKD, indicating increased market interest in Hong Kong dividend assets [1] - The number of Hong Kong-listed companies declaring dividends reached 713 in the first half of 2025, with a total dividend payout of 81.27 billion HKD, marking a year-on-year increase of 31.35% [1] Summary by Category Market Performance - The Hong Kong Stock Connect High Dividend (CNY) Index has a one-year dividend yield of 5.50%, significantly higher than the 1.81% yield of 10-year government bonds, showcasing its attractiveness compared to other indices [2] - The total return index for the Hong Kong Stock Connect High Dividend (CNY) has increased by 31.68% over the past year, outperforming several mainstream dividend indices [2] Fund Details - The Hong Kong Stock Connect Dividend ETF (513530) is the first ETF in the A-share market that can invest in the China Securities Index Hong Kong Stock Connect High Dividend Investment Index through the QDII model, potentially reducing dividend tax costs for long-term holders [2] - The fund manager, Huatai-PB Fund, has over 18 years of experience in index investment and has developed a comprehensive range of dividend-themed ETFs, with a total management scale of 47.315 billion HKD as of November 11, 2025 [3] Historical Performance - The performance of the Hong Kong Stock Connect Dividend ETF since its establishment in April 2022 shows returns of 3.59%, 7.14%, 30.16%, and 12.94% for the years 2022 to the first half of 2025, respectively, compared to its benchmark index [3]

Group 1: Investor Relations and Dividend Policy - The company plans to implement a mid-year cash dividend in 2025 to enhance shareholder returns and boost investor confidence [2][3] - Future cash dividend levels will be determined based on performance and financial planning [2][3] Group 2: Overseas Business Development - The company's overseas operations are primarily focused in Southeast Asia, including Thailand, Vietnam, Malaysia, and Indonesia [4] - Capacity planning will be adjusted based on order conditions and market demand [4] Group 3: Competitive Advantages - The company leverages clear capacity demands from clients to avoid blind expansion in overseas markets [5] - Group-level support services are provided to meet global collaboration needs, enhancing efficiency and cost control compared to local competitors [5] Group 4: Order Status and Client Distribution - The company has established a stable customer base in the corrugated packaging industry, with good order conditions and orderly production [6] - Client distribution: Home appliances (22%), Beer (15%), Dairy (14%), Food (11%), Daily chemicals (4%), E-commerce logistics (4%), Others (30%) [7] Group 5: Customer Expansion and Employee Incentives - The company adopts a diverse customer development strategy, enhancing product value and customer loyalty to attract a wide range of clients [8] - The company values employee contributions and is committed to establishing effective incentive mechanisms, with future plans to disclose relevant information as required [8]

证券日报网讯贵阳银行（601997）11月7日在互动平台回答投资者提问时表示，自2016年上市以来，本 行始终坚持稳健、可持续的分红政策，累计现金分红已超86亿元。未来，本行将在符合监管指引、保障 资本充足和业务可持续发展的前提下，平衡好资本积累与股东回报的关系，致力于为投资者创造长期、 稳定的价值。 ...

Core Viewpoint - The company emphasizes the importance of stable and predictable dividends for investor confidence, but currently does not meet the conditions for cash dividends due to negative retained earnings in both consolidated and parent company financial statements as of September 30, 2025 [1] Group 1 - The company is committed to returning value to all shareholders and recognizes the critical role of dividends in maintaining investor confidence [1] - As of September 30, 2025, the company has negative retained earnings, which prevents it from distributing cash dividends at this time [1] - The company has shown a positive business development trend, with net profits increasing year-on-year in recent years [1] Group 2 - The company plans to continue focusing on its core business operations to enhance profitability and cash flow levels [1] - In the future, when conditions for profit distribution and capital safety are met, the company will actively consider cash dividends, taking into account regulatory guidelines, development stage, profit scale, and future investment plans [1]

（文章来源：每日经济新闻） 新和成（002001.SZ）11月6日在投资者互动平台表示，分红是回馈投资者、共享公司发展成果的重要措 施。公司坚持以相对稳定的利润分配政策和现金分红方案积极回报股东，2025年公司实施了3次现金分 红，当年累计已派发现金分红达27.62亿元。后续分红方案敬请关注公司公告。 每经AI快讯，有投资者在投资者互动平台提问：请问董秘，贵公司是否计划了近几年的分红计划，如 果有，是多少？谢谢！ ...

Core Viewpoint - New Coordinates (sh603040) reached a limit-up price of 82.42 yuan, with a 10% increase, and a total market capitalization of 11.249 billion yuan, driven by strong performance and positive institutional ratings [1][2]. Group 1: Company Performance - The company reported a 19.45% year-on-year increase in revenue for Q3 2025, with net profit growing by 29.41% and non-recurring net profit increasing by 33.88%, indicating a continuous enhancement in its core business profitability [2]. - The company announced a cash dividend distribution plan for Q3 2025, proposing a payout of 2.50 yuan per 10 shares, totaling approximately 33.84 million yuan, which represents 35.58% of the consolidated net profit, attracting investor interest [2]. Group 2: Institutional Ratings - Institutions such as Southwest Securities and Dongxing Securities have given positive ratings to New Coordinates, with Southwest Securities issuing a "Buy" rating and Dongxing Securities providing a "Recommended" rating, reflecting confidence in the company's strengthening profitability and revenue growth [2]. Group 3: Industry Context - The company specializes in precision components for automotive and motorcycle engine timing mechanisms, serving clients including Volkswagen and BYD. The growth of the automotive industry is expected to increase demand for precision components, potentially leading to further performance growth for the company [2].

Core Viewpoint - The company is focusing on enhancing its operational strategies and exploring new business opportunities to counteract the challenges faced in its core warehousing business due to macroeconomic factors. Group 1: Business Strategy and Development - The company is expanding into emerging services such as smart customer service and logistics chain management, although these currently account for less than 3% of revenue [1] - Future strategic direction includes transitioning from traditional energy and chemical services to renewable energy and green chemical services [1] - The company aims to leverage its extensive national warehousing network and flexible operational strategies to ensure steady business growth despite market fluctuations [1] Group 2: Financial Performance and Shareholder Concerns - The company acknowledges recent performance declines due to macroeconomic impacts and industry demand fluctuations, leading to a cautious approach in future acquisitions and business expansions [2] - There is a commitment to consider cash dividend policies that balance performance growth with investor returns, while maintaining a stable cash flow [2] - The company is aware of shareholder concerns regarding stock price declines and is focused on improving operational efficiency and service offerings to enhance competitiveness [2] Group 3: Market Position and Competition - The company does not see competition with national strategic oil reserve bases, as it primarily serves domestic and international petrochemical producers and traders [2] - The decline in gross margin is attributed to reduced industry demand and high fixed costs, rather than direct price competition within the sector [2] - The company has obtained designated delivery warehouse qualifications for several chemical products, which is expected to enhance customer trust and improve overall profitability [2]

Core Points - The company announced a cash dividend distribution of CNY 0.03 per share (including tax) for the first half of 2025 [2][4] - The total cash dividend to be distributed amounts to CNY 151,211,414.49 (including tax) based on a total share capital of 5,040,380,483 shares [4] Distribution Plan - The dividend distribution plan was approved at the company's first extraordinary general meeting on September 11, 2025 [3] - The distribution is applicable to all shareholders registered with the China Securities Depository and Clearing Corporation Limited Shanghai Branch as of the close of trading on the registration date [4] Implementation Details - Cash dividends for unrestricted circulating shares will be distributed through the clearing system of the China Securities Depository and Clearing Corporation [5] - Shareholders who have completed designated transactions can receive their cash dividends on the distribution date at their designated securities business department [5] Taxation Information - For individual shareholders and securities investment funds, dividends are subject to different tax treatments based on the holding period [8] - For shares held for over one year, dividends are exempt from individual income tax; for shares held for one year or less, the actual cash dividend received is CNY 0.03 per share, with tax calculated upon stock transfer [8] - Qualified Foreign Institutional Investors (QFII) will have a 10% corporate income tax withheld, resulting in a net cash dividend of CNY 0.027 per share [8][9]

Core Viewpoint - China Shenhua (601088.SH) announced a cash dividend distribution for the first half of 2025, amounting to CNY 0.98 per share (tax included), totaling CNY 19.471 billion (tax included) [1] Summary by Categories Dividend Distribution - The company will distribute a cash dividend of CNY 0.98 per share [1] - The total cash dividend payout will be CNY 19.471 billion [1] - The record date for the dividend is set for November 7, 2025, and the payment date is November 10, 2025 [1]

Core Insights - As of October 31, 279 companies listed on the Beijing Stock Exchange (BSE) have disclosed their Q3 reports, with a total revenue of 145.068 billion yuan, reflecting a year-on-year growth of 5.99% [1] - The net profit for these companies reached 9.203 billion yuan, with over 80% of the companies reporting profits, and 131 companies showing a year-on-year increase in net profit [1] - The North Stock 50 index continues to play a significant role, contributing nearly 40% of the overall revenue with a total of approximately 58.416 billion yuan [1] - A total of 13 BSE companies have announced dividend plans, with a cumulative payout of 356 million yuan [1] Revenue Performance - Ten BSE companies, including BetterRay and Yinuowei, reported revenues exceeding 2 billion yuan in the first three quarters, with BetterRay leading at 12.384 billion yuan, a 20.60% increase year-on-year [2] - BetterRay's Q3 revenue reached 4.547 billion yuan, marking a 40.70% increase, with net profit growing by 61.98% to 289 million yuan [2] - Four companies, including BetterRay and Jinbo Bio, reported net profits exceeding 500 million yuan, while 16 companies achieved over 100 million yuan in net profit [2] Losses and Challenges - Companies such as Haitai New Energy and Anda Technology reported significant losses, with Haitai New Energy's revenue declining by 42.26% to 1.432 billion yuan and a net loss of 248 million yuan due to falling market prices in the photovoltaic industry [3] Growth Rates - Five companies, including Zhuozhao Point Glue and Digital Human, saw revenue growth rates exceeding 100%, with Zhuozhao Point Glue achieving a remarkable 164.92% increase [4] - 23 companies reported net profit growth rates over 100%, with Shunyu Precision achieving a net profit increase of 2586.85% [4] Dividend Distribution - 13 BSE companies have announced dividend plans, with 11 companies distributing over 10 million yuan each, and Guohang Ocean proposing a total dividend of 55.5407 million yuan [5] - Newly listed Dingjia Precision plans to distribute 60 yuan per 10 shares, totaling 49.8 million yuan, reflecting strong financial health and cash flow management [5]