98 A-share companies disclose 2025 annual reports; 70 plan cash dividends totaling 70.5 billion yuan

Reporter Xu Yiming

According to data from Tonghuashun, as of March 15th, when this article was published, 98 A-share listed companies have disclosed their 2025 annual reports ahead of schedule. Among them, 70 companies plan to distribute cash dividends, totaling 70.504 billion yuan.

Yang Delong, Chief Economist at Qianhai Open Source Fund, told Securities Daily that cash dividends from listed companies not only reflect their profitability but also serve as an important way to reward investors and guide long-term value investment. It also demonstrates the ongoing optimization of the dividend ecosystem in the A-share market and the confidence in high-quality economic development.

In terms of performance, among the 98 companies, 54 reported year-over-year growth in net profit attributable to parent company shareholders, accounting for 55.10%.

Industry leaders performed particularly well. For example, CATL (Contemporary Amperex Technology Co., Limited), a leading company in the power battery sector, achieved operating revenue of 423.702 billion yuan in 2025, a 17.04% increase year-over-year; 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. (Tinci Materials) and Shandong Wohua Pharmaceutical 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%; net profit attributable to shareholders was 1.362 billion yuan, up 181.43%; and net profit after deducting non-recurring gains and losses 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%. For example, CATL plans to pay a cash dividend of 69.57 yuan per 10 shares (tax included), totaling 31.532 billion yuan, ranking first.

Data shows that most companies announcing dividend plans this time align their dividends with their profitability and also consider shareholder returns.

For instance, Zhejiang Hexin Tonghuashun Network Information Co., Ltd. expects to achieve revenue of 6.029 billion yuan and net profit of 3.205 billion yuan in 2025, representing year-over-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 to enter 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 the high-quality development of the capital market.