98 A-share companies have disclosed 2025 annual reports; 70 listed companies plan cash dividends totaling 7.05 billion yuan

Data shows that as of March 15, the date of this report, 98 A-share listed companies have disclosed their 2025 annual reports, with 70 planning to distribute cash dividends totaling 70.504 billion yuan.

Qianhai Open Source Fund Chief Economist Yang Delong told Securities Daily that cash dividends from listed companies reflect their profitability, serve as an important way to reward investors and guide long-term value investment, and also demonstrate the ongoing optimization of the dividend ecosystem in the A-share market and confidence in high-quality economic development.

In terms of performance, among the 98 companies, 54 reported net profits attributable to parent company shareholders that increased year-on-year, accounting for 55.10%.

Industry leaders performed notably well. For example, CATL (Contemporary Amperex Technology Co., Limited), a leading company in the power battery sector, achieved revenue of 423.702 billion yuan in 2025, a year-on-year increase of 17.04%; net profit attributable to shareholders was 72.201 billion yuan, up 42.28%, with an average daily profit of about 198 million yuan.

High-quality companies in niche fields also showed strong growth. For instance, Guangzhou Tinci High-tech Materials Co., Ltd. and Shandong Wohua Medical Technology Co., Ltd. both saw net profits attributable to shareholders increase by over 100% last year. Tinci Materials achieved revenue of 16.65 billion yuan, up 33.00%, and net profit of 1.362 billion yuan, up 181.43%. After excluding non-recurring gains and losses, net profit attributable to shareholders was 1.36 billion yuan, up 256.32%.

Notably, nine companies, including Cambrian Science and Technology Co., Ltd., are expected to turn losses into profits in 2025.

Additionally, among the 98 companies, 70 plan to distribute cash dividends, accounting for 71.4%. CATL plans to pay a cash dividend of 69.57 yuan per 10 shares (tax included), totaling 31.532 billion yuan, ranking first.

According to the analysis, most companies that announced dividend plans this time have aligned their dividends with their profitability and also considered shareholder returns.

For example, Zhejiang Hexin Tonghuashun Network Information Co., Ltd. achieved revenue of 6.029 billion yuan and net profit attributable to shareholders of 3.205 billion yuan in 2025, representing year-on-year increases of 44.00% and 75.79%, respectively. Its dividend plan includes a cash dividend of 5.1 yuan per 10 shares (tax included) and a plan to transfer 4 shares for every 10 shares held, reflecting attention to both short-term gains and long-term interests of shareholders.

Wang Yuting, a lecturer at Shanghai University Sydney Business School, told Securities Daily that sustained and stable dividends not only enhance investors’ sense of gain but also attract medium- and long-term funds such as insurance and pension funds into the market. The influx of these funds provides long-term stable support for listed companies and promotes a virtuous cycle of “stable dividends—long-term capital accumulation—high-quality development.”

Wang further stated that in the future, with continuous improvement of regulatory policies and increased awareness of dividend distribution among companies, the dividend ecosystem in the A-share market will become more mature, providing stable returns for investors and injecting lasting momentum into high-quality capital market development.

(Article source: Securities Daily)