生物试剂业务具有生产周期短、毛利率高、现金流好等特征，能快速产生收益，所产生的现金流可以较好的维持其正常运 营。Wind数据显示，义翘神州上市前2020年净利润为11.28亿元，当年未进行分红，为上市后向公众投资者连续分红提供了较 好的经营积累。 作为一个凭借高技术壁垒构筑宽广护城河的生物试剂企业，义翘神州一直展现出良好的现金流表现。中报显示，目前公司 流动资金累计近40亿元，未分配利润超11亿元。 作为中国生物试剂行业重要代表企业之一，义翘神州这份半年报传递出了两个重要信号：首先，经过三年的市场调整，中 国生物医药企业所承受的后疫情时代业绩增长压力正在逐步改善，此次中报显示，义翘神州扣非净利润同比增幅为31.85%，是 疫情之后首次实现正增长，其中二季度扣非净利润环比增幅为189%，伴随着新冠业务的逐渐出清，其非新冠业务的拓展和增 长后劲十足。其次，基于对公司自身经营情况和未来长期发展趋势的信心，持续回报投资者，义翘神州首次进行年中分红。 根据Wind数据，上市四年来，义翘神州一直保持了一定的营收规模持续盈利。为了认真践行与投资者共享发展成果的承 诺，义翘神州连续四年以分红形式回馈投资者，积极响应了监管政策 ...

（原标题：A股，新常态！多家上市公司首次中期分红） 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，泰禾股份拟每10股派发现金红利2元（含税），预计派发总额为9000万元；中钢天源拟每10股派现0.6元（含税），预计派发4523 万元；炬芯科技计划每10股派发现金红利1元（含税），预计派发1742万元。这三家企业均为首次进行中期分红，现金分红比例分别约为49%、 31%、 ...

证券时报记者 程丹 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，泰禾股份拟每10股派发现金红利2元（含税），预计派发总额为 9000万元；中钢天源拟每10股派现0.6元（含税），预计派发4523万元；炬芯科技计划每10股派发现金红利1元（含 税），预计派发1742万元。这三家企业均为首次进行中期分红，现金分红比例分别约为49%、31%、19%。 此前，中国中车、恒力石化、长安汽车等多家龙头企业也将中期分红方案 ...

Group 1 - A-share listed companies are increasingly signaling mid-term dividend plans for 2025, indicating a trend towards a more mature capital market with a focus on shareholder returns [1][2] - As of June 9, a total of 58 listed companies have announced their mid-term profit distribution plans for 2025, with many stating that their dividend policies are part of long-term strategic planning [2] - Companies like Shanghai Zhangjiang Hi-Tech Park Development Co., Ltd. and Chengdu High-tech Development Co., Ltd. are planning to increase mid-term cash dividends, with expected payouts ranging from 20% to 40% of net profits [1][2] Group 2 - The establishment of a stable and normalized dividend mechanism is seen as crucial for reshaping investment logic and enhancing market confidence, attracting long-term investors seeking stable returns [3] - A-share companies are expected to maintain a continuous, stable, and proactive profit distribution policy, considering factors such as operational performance, shareholder expectations, and cash flow [2][3] - The overall dividend payout ratio for the Shanghai Stock Exchange main board is projected to be 39% in 2024, with a dividend yield of 3.6% [2]

Group 1 - The core viewpoint of the article highlights that A-share listed companies are experiencing a significant increase in cash dividends, with a trend towards regularized dividend mechanisms being established [1][4][10] - In the 2024 fiscal year, nearly 70% of over 5,400 listed companies announced dividends, totaling approximately 2.39 trillion yuan, marking a year-on-year increase of over 7% and setting a new historical high [1][3] - The total cash dividends and the number of companies distributing dividends have been steadily increasing over the years, with the total cash dividends nearly doubling compared to 2018 and the number of dividend-paying companies growing by nearly 50% [1][3] Group 2 - The banking sector remains a major contributor to dividends, with 42 listed banks distributing over 630 billion yuan, accounting for more than 30% of their net profits [3][4] - State-owned enterprises continue to play a significant role in dividend distribution, with nearly 1,000 state-owned companies collectively distributing 1.5 trillion yuan, representing over 60% of the total market dividends [3][4] - New trends in dividend distribution include multiple distributions within a year, with over 90% of newly listed companies in the North Exchange announcing dividend plans [6][7] Group 3 - The introduction of the new "National Nine Articles" policy has strengthened the regulation of cash dividends, encouraging companies to increase dividend frequency and ratios [6][8] - A total of 985 companies in the Shanghai and Shenzhen markets announced interim dividends, with the total amount reaching 699.47 billion yuan, representing 4.3 times the number of companies and 2.7 times the amount from 2023 [7][8] - Companies are increasingly focusing on enhancing investment value and long-term dividend stability, with significant actions taken by nearly 60% of companies in the Shanghai market to improve quality and returns [8][9]

Core Viewpoint - The A-share market has seen a record-breaking cash dividend of 2.34 trillion yuan in 2024, marking a significant shift towards enhancing shareholder returns and reflecting a transformation in the investment ecosystem [1][2][10]. Group 1: Dividend Policy and Regulation - The new "National Nine Articles" issued in April 2024 strengthens the regulation of cash dividends for listed companies, encouraging higher dividend payouts and limiting major shareholders' sell-offs for companies with low or no dividends [2][5]. - The China Securities Regulatory Commission (CSRC) has also released guidelines to promote long-term dividend planning and increase the frequency of dividends, enhancing predictability and stability [2][10]. Group 2: Dividend Performance - A total of 3,720 listed companies distributed dividends in 2024, with the total cash dividend amounting to 2.34 trillion yuan, which is 46.32% of the total net profit of A-share companies for the year [2][10]. - The number of companies paying cash dividends has increased significantly from 2,572 in 2018 to 3,720 in 2024, indicating a growing trend towards regular dividend payments [4][10]. Group 3: Industry Insights - The banking sector led the dividend payouts in 2024, with a total of 631.54 billion yuan, representing 30.95% of the sector's net profit [6][10]. - Major companies such as Industrial and Commercial Bank of China, China Mobile, and China Petroleum each distributed over 100 billion yuan in dividends, showcasing the strong performance of these firms [6][7]. Group 4: Market Impact - The increase in dividends is expected to attract long-term investors, improve market liquidity, and shift focus from short-term speculation to long-term value investment [9][10]. - Regular and stable dividends signal good corporate governance and financial health, which can enhance investor confidence and lead to a concentration of market resources towards high-quality companies [11].

Core Viewpoint - The A-share market is witnessing a significant transformation towards a normalized cash dividend mechanism, with the total cash dividends for 2024 reaching a historical record of 2.34 trillion yuan, marking the third consecutive year above the 2 trillion yuan threshold [1][3][13]. Summary by Sections Policy Impact - The new "National Nine Articles" policy, issued in April 2024, emphasizes the regulation of cash dividends for listed companies, encouraging them to prioritize shareholder returns and enhancing the overall investment ecosystem in the A-share market [1][3]. - The policy includes measures to restrict major shareholders from reducing their holdings in companies that have not paid dividends for years or have low dividend ratios, while also incentivizing companies with high dividend payouts [3][6]. Dividend Statistics - As of now, 3,720 A-share companies have declared cash dividends for 2024, with the total amount reaching 2.34 trillion yuan, which constitutes 46.32% of the total net profit for the year, an increase of nearly 4 percentage points year-on-year [3][13]. - The number of companies paying cash dividends has increased significantly from 2,572 in 2018 to 3,720 in 2024 [5]. Industry Performance - The banking sector stands out with a total dividend payout of 631.54 billion yuan in 2024, accounting for 30.95% of the sector's net profit [8][10]. - Major companies such as Industrial and Commercial Bank of China, China Mobile, and China Construction Bank each distributed over 1 billion yuan in dividends [10]. Market Dynamics - The trend of regular dividends is expected to attract more long-term investors, enhancing market liquidity and stability, while also shifting focus from short-term speculation to long-term value investment [11][13]. - Companies that consistently pay dividends signal strong operational performance and profitability, which can boost investor confidence and market participation [13][14].