登录新浪财经APP 搜索【信披】查看更多考评等级 文 孙汝祥 夏欣 2025年堪称上市公司监管领域的"大年"，在监管规则体系完善、推动高质量发展、全链条严打财务造假 等方面均成效卓然。 这一年，上市公司监管从"问题驱动型"的零散规则修补迈向系统性"顶层设计型"的系统法规建构。 2025年12月，中国证监会就《上市公司监督管理条例（征求意见稿）》（以下简称《监管条例》）公开 征求意见。这份覆盖上市公司"全生命周期"的文件，强化全链条监管，标志着我国首部上市公司监管行 政法规即将出炉，也宣告着对上市公司的监管将进入一个更加系统化、法治化的新阶段。 这一年，并购重组市场活力迸发，助力上市公司高质量发展的同时，A股公司常态化分红也形成了良好 生态。 2025年5月中国证监会发布修改后的《上市公司重大资产重组管理办法》（以下简称《重组办法》）， 以更大力度支持上市公司并购重组。数据显示，A股上市公司2025年年内披露重大资产重组超200单， 是2024年的1.4倍。 2025年1—12月，A股上市公司实施现金分红2.55万亿元，1066家沪深公司宣告中期分红7870亿元，进一 步彰显了资本市场的长期投资价值和吸引力。 ...

Core Viewpoint - The article highlights the increasing trend of mid-term dividends among companies listed on the Shenzhen Stock Exchange, with a total dividend amount exceeding 10.25 billion yuan for the first half of 2025, indicating a shift towards more frequent shareholder returns [1][4][2]. Group 1: Mid-term Dividend Trends - As of July 30, 2025, 14 companies in the Shenzhen market have announced mid-term profit distribution plans, with a total dividend amount of 10.251 billion yuan [4]. - The trend of multiple dividends per year is emerging, driven by companies' confidence in their annual performance and industry outlook, as well as regulatory encouragement for companies to establish long-term dividend plans [4][6]. - Eight companies are implementing mid-term dividends for the first time, including Haida Group, which plans to distribute 0.2 yuan per share, totaling 333 million yuan [4]. Group 2: Regulatory and Investor Influence - The Shenzhen Stock Exchange has been actively promoting the establishment of annual dividend plans among listed companies, encouraging them to adopt a more frequent dividend distribution approach [4][6]. - There is a growing emphasis on stable returns for investors, with 216 companies in 2024 and an additional 165 in 2025 announcing long-term shareholder dividend return plans [6][7]. Group 3: Leading Companies and Their Impact - Major companies with strong financial health, such as Ningde Times and Mindray Medical, are leading the way in mid-term dividends, with Ningde Times announcing a dividend of 4.573 billion yuan [11]. - The "leading goose effect" is evident as large-cap companies set an example for others, enhancing overall investor confidence in the market [9][11].