21世纪经济报道记者崔文静 北京报道8月22日晚，江苏国泰公告称，拟投入超18亿元自有资金开展证券 投资；8月24日晚其再次发布公告，宣布终止该计划——全程未跨越一个A股交易日。 值得留意的是，就在江苏国泰宣布终止投资的同一天，其还披露了《未来三年股东分红回报规划》，明 确提出增加分红频次、提高现金分红比例。江苏国泰的这一转变也让一些业内人士解读为其或将原本用 于投资的部分现金拿来分红，以增加投资者回报，更好回馈股东。 另一个值得关注的信号是，如同江苏国泰一样，加大分红力度的上市公司比比皆是，而且其中不乏大手 笔分红者。在截至8月25日推出2025中期分红计划的上市公司中，仅每手（最小持股单位，1手=100 股）分红规模在100元以上的上市公司即多达17家。其中，分红力度最大的吉比特，每手分红规模高达 660元。 未来三年每年最多可分红三次 值得注意的是，在宣布终止设立投资公司的同日，江苏国泰还发布了《未来三年（2025年-2027年）股 东分红回报规划》（以下简称《规划》），拟于9月10日提交股东大会审议。该《规划》明确提出增加 分红频次和提高现金分红比例，彰显公司回馈股东决心。 受访人士认为，在这一系列动 ...

昨夜（8月22日），多家A股公司在发布半年报的同时，拟向全体股东送出中期"大红包"。 其中，中国中车、恒力石化、长安汽车等多家头部企业首次宣告中期分红，最高分红金额超30亿元。 超60家公司拟中期分红 Choice数据显示，8月22日晚间，共有61家A股公司公布了2025年中期利润分配预案。 2023年中期和2024年中期，爱玛科技分别向全体股东派发现金红利3.00亿元、2.86亿元。 一向以"慷慨分红"著称的养元饮品，拟在2025年中期再次向投资者派发丰厚的现金"红包"。预案显示， 公司拟向全体股东每10股派发现金红利5.00元（含税），合计派发现金红利6.30亿元，约占2025年上半 年归母净利润的84.71%。 据统计，自2017年上市以来，养元饮品已累计实施分红8次，分红总金额约158亿元。 值得一提的是，此次中期分红也是养元饮品上市以来首次进行中期分红，打破了以往仅在年度进行分红 的惯例。 多家头部企业首次宣告中期分红 除了养元饮品，记者统计发现，还有多家头部企业在8月22日晚首次宣告了中期分红。 其中，中国中车拟向全体股东每10股派发现金红利1.1元（含税），合计拟派发现金红利31.57亿元，约 ...

【导读】多家头部企业首次宣告中期分红，最高分红金额超 30 亿元 见习记者 夏天 昨夜（ 8 月 22 日），多家 A 股公司在发布半年报的同时，拟向全体股东送出中期 " 大红包 " 。 其中，中国中车、恒力石化、长安汽车等多家头部企业首次宣告中期分红，最高分红金额超 30 亿元。 超 60 家公司拟中期分红 Choice 数据显示， 8 月 22 日晚间，共有 61 家 A 股公司公布了 2025 年中期利润分配预 案。 其中，平安银行拟向全体股东每 10 股派发现金股利 2.36 元（含税），预计派现金额合计为 45.80 亿元，派现额占净利润的 18.42% 。这是公司 1991 年上市以来，累计第 25 次派 现。 随着经营效益持续向好，电动自行车行业龙头公司爱玛科技也在加大对股东的现金回报力 度。 2025 年中期，公司拟向全体股东每 10 股派发现金股利 6.28 元（含税），预计派现金 额合计为 5.46 亿元，约占当期归母净利润的 45.01% 。 2023 年中期和 2024 年中期，爱玛科技分别向全体股东派发现金红利 3.00 亿元、 2.86 亿 元。 一向以 " 慷慨分红 " 著称 的 ...

Wind数据显示，截至8月22日22时，A股共有1657家上市公司披露2025年半年报。其中，959家上市公司实现净利润同比增长，占比约为57.88%。 从行业角度看，电子、交通运输、农林牧渔、汽车、机械设备、有色金属、家用电器、社会服务等行业上市公司业绩表现较为亮眼。 此外，Wind数据显示，截至8月22日22时，A股共有295家上市公司披露2025年中期分红方案。 在上述披露2025年半年报的1657家上市公司中，223家公司归属于上市公司股东的净利润同比增长超100%，382家同比增长超50%，530家同比增长超 30%，794家同比增长超10%。 电子、机械设备等行业表现亮眼 从行业角度看，在申万一级行业中，农林牧渔、电子、钢铁、机械设备等行业净利润同比增幅较大；电子、机械设备、农林牧渔、美容护理等行业的营业 收入同比改善较为明显。 申万一级行业中上半年业绩居前的行业 其中，联迪信息、数码视讯、先达股份、智明达、容知日新、仕佳光子、索通发展等净利润同比增幅居前。 盈利规模方面，上半年，有601家公司归属于上市公司股东的净利润超1亿元，有91家公司超10亿元。 其中，中国移动、贵州茅台、宁德时代、中国电 ...

当下，A股市场下起"红包雨"。截至8月22日，已经披露2025年半年度分红预案的A股上市公司，中期拟 合计派现超千亿元。 上市公司积极分红不仅反映出其更加注重投资者回报，资本市场投资吸引力进一步增强，更彰显了我国 资本市场治理效能的持续提升，分红已从过去的"政策引导"逐步转向"内生需求"，成为企业完善治理与 创造价值的有机组成部分。 笔者认为，进一步推动上市公司分红常态化，需多维度协同发力，化"被动响应"为"主动作为"，从而夯 实价值投资基石，推动资本市场行稳致远。 其二，优化分红结构与方式，让"红包雨"下得更精准。上市公司应结合现金流状况，积极探索更灵活的 分红方式，让投资者能更及时地分享公司成长红利。同时，要平衡即期与远期利益，在保证现金分红比 例的前提下，探索"现金分红+股份回购"组合拳，或通过股本回报等方式，在提升股东即期回报与保障 企业长期发展之间找到最佳平衡点，提升分红的"含金量"与精准度。 其一，强化分红稳定性和可预期性，让回报有章可循。上市公司要避免"一年分、一年不分"的随意性， 将分红从"一时热"升华为"长久计"，让其真正成为稳定市场预期的"定心丸"。 这要求上市公司综合考虑自身发展阶段、经 ...

Core Viewpoint - Several listed companies announced significant cash dividends, with China Petroleum & Chemical Corporation (Sinopec) reporting a decline in revenue and profit for the first half of 2025 but maintaining a strong cash flow and proposing a substantial dividend payout [1][4]. Financial Performance Summary - Sinopec's revenue for the first half of 2025 was RMB 1.41 trillion, a decrease of 10.6% year-on-year, while net profit attributable to shareholders was RMB 21.48 billion, down 39.8% [2][3]. - The company's operating cash flow increased by 44.4% to RMB 61.02 billion compared to the previous year [3]. - The total assets rose by 2.9% to RMB 2.14 trillion, and equity attributable to shareholders increased by 0.9% to RMB 827.45 billion [3]. Production and Capital Expenditure - Sinopec's oil and gas equivalent production reached 262.81 million barrels, a 2.0% increase year-on-year, with domestic crude oil production at 126.73 million barrels and natural gas production at 736.28 billion cubic feet [2][3]. - The company plans to reduce its annual capital expenditure by approximately 5%, focusing on exploration and development projects [5]. Dividend Announcement - Sinopec proposed a cash dividend of RMB 0.088 per share, totaling approximately RMB 10.67 billion, with a cash payout ratio of 49.7% [4]. - Other companies, such as Dong'e Ejiao and Baichu Electronics, also announced their dividend plans, with Dong'e Ejiao proposing a cash dividend of RMB 12.69 per 10 shares, totaling RMB 8.17 billion, which is 117.01% of its net profit for the first half of 2025 [8]. Share Buyback Plan - Sinopec announced a share buyback plan, intending to use between RMB 5 billion and RMB 10 billion to repurchase shares at a maximum price of RMB 8.72 per share, potentially buying back approximately 57.34 million to 114.68 million shares [6].

Group 1: Company Performance - As of August 20, 845 A-share listed companies have released their semi-annual reports, with 130 companies reporting a net profit attributable to shareholders that increased by over 100% year-on-year [1] - Factors driving high growth in these companies include improved market supply and demand for main products and the extension of the industrial chain [1] - For instance, Shandong Xianda Agricultural Chemical Co., Ltd. reported significant profit growth due to a rise in the price of its main product, acetochlor, and the successful market launch of a new product, pyrazolyl quinoline [1] Group 2: Industry Trends - Several poultry farming companies have also shown impressive performance in the first half of the year, attributed to lower feed costs and increased profit margins [1] - Analysts indicate that leading companies are focusing on high-value-added product channels, enhancing their market position through full industry chain development [1] Group 3: Dividend Policies - Many listed companies are implementing substantial dividend plans to share development dividends with investors, reflecting a consensus on returning profits [2] - Cash dividends are seen as a positive signal for the health of the capital market, indicating real profitability and cash flow stability [2] - A consistent dividend policy can attract long-term capital, optimize investor structure, and enhance market resilience [2] Group 4: Market Implications - The trend of active dividend distribution among Chinese listed companies aligns with international market practices, aiding in the transition from speculation to value-driven investment [3] - This phenomenon is indicative of improved company quality and a sign of ongoing optimization in the capital market ecosystem [3] - Companies with strong performance and proactive investor returns are expected to gain more favor in the capital market as more semi-annual reports are released [3]

Group 1 - The company achieved a revenue of 2.997 billion yuan, a year-on-year increase of 44.8%, and net profit of 34.95 million yuan, marking a turnaround from loss to profit [1] - The company's profitability is primarily driven by sales revenue from high-performance electronic copper foil products and the difference between sales and cost [1] - The company completed a copper foil production of 35,078 tons during the reporting period, with a steady increase in the production of lithium battery copper foil of 5μm and below [1] Group 2 - The company has multiple complete production lines for HVLP copper foil and has recently purchased several surface treatment machines to expand HVLP copper foil capacity [2] - The global PCB market is expected to reach 94.661 billion USD by 2029, with a compound annual growth rate of 5.2% from 2024 to 2029, benefiting the copper foil market [2] - The company plans to distribute a cash dividend of 0.2 yuan per 10 shares, totaling 16.5203 million yuan, reflecting an increased willingness for dividend distribution among listed companies [2]

自2024年4月发布的新"国九条"出台以来，一年多次分红渐成主流，浙江上市公司积极响应。为持续提 升投资者回报水平，增加分红频次，截至8月11日，海康威视（002415）、嘉化能源（600273）、洁美 科技（002859）、浙数文化（600633）等多家浙江上市公司披露2025年中期分红公告或计划。 近期，嘉化能源发布2025半年度分配预案，拟10派2元（含税），预计派现金额合计为2.65亿元。派现 额占净利润比例为45.66%，这是嘉化能源上市以来，累计第26次派现。 浙数文化也于近日披露《关于2025年中期利润分配预案的公告》，在兼顾公司经营、可持续发展及广大 投资者特别是中小投资者的利益下，浙数文化拟连续第二年推出中期分红，派发现金红利1.01亿元，分 红比例为半年度归母净利润的26.88%。 九洲药业（603456）推出的2025年中期利润分配方案显示，该公司拟向全体股东每10股派发现金红利2 元（含税，下同），共计派发现金股利1.76亿元。2025年上半年，九洲药业现金分红和回购金额合计 2.78亿元，占2025年半年度净利润的比例为52.93%。 据了解，这也是海康威视上市后首度推出中期分红计划 ...

Core Viewpoint - The article highlights the increasing trend of interim dividends among A-share companies, with many firms announcing substantial profit distributions, indicating a robust performance in the first half of the year despite some experiencing revenue declines [3][4][8]. Summary by Sections Interim Dividend Announcements - As of August 8, companies like Guanggang Gas (688548.SH) and Shuoshi Bio (688399.SH) have announced interim profit distributions, with Shuoshi Bio proposing a distribution of 3.4 yuan per share, totaling 285 million yuan [3][4]. - Nearly 50 A-share companies have disclosed interim dividend proposals, with a total distribution amount exceeding 720 billion yuan [4][6]. Major Dividend Payers - China Mobile (600941.SH) leads with a proposed dividend of 2.75 HKD per share, amounting to approximately 594.32 billion HKD (over 540 billion yuan) [4][6]. - Other significant companies include Ningde Times (300750.SZ) and Oriental Yuhong, with proposed distributions of 10.07 yuan and 9.25 yuan per share, respectively [5][6]. Performance of Dividend Companies - Many companies proposing high dividends have reported revenue and profit growth in the first half of the year, such as Dongpeng Beverage, which achieved a revenue of 10.737 billion yuan and a net profit of 2.375 billion yuan, both up over 30% year-on-year [8]. - However, some companies like China Mobile and Cangge Mining (000408.SZ) experienced slight revenue declines, with China Mobile's revenue at 543.769 billion yuan, down 0.54% year-on-year [8][9]. Upcoming Dividend Distributions - Three A-share companies, including Sujiao Science and Technology (300284.SZ), are set to implement interim dividends next week, with Sujiao proposing a distribution of 0.2 yuan per share [10][11]. Trends in Dividend Distribution - The trend of increased dividend distributions is supported by regulatory encouragement, with the total cash dividends for A-share companies in 2024 projected to reach 2.4 trillion yuan, a 9% increase from 2023 [12]. - The frequency of dividend payments is also rising, with many companies adopting policies for multiple distributions within a year [12]. Investment Considerations - Investors are advised to analyze dividend yield, coverage ratio, and sustainability when selecting stocks, considering industry differences and company fundamentals [12][13]. - In mature industries, high dividends are attractive, while in growth sectors, increased dividends may indicate a shift towards maturity or a change in profit models [13][14].