The first batch of A-share dividend-paying companies announced, with 20 companies planning to distribute over 5.6 billion yuan in cash dividends

Currently, A-share companies are entering the annual report disclosure season. As of March 5th, 25 companies have disclosed their 2025 annual reports. Along with the annual reports, there are also plans for annual dividends. According to Tonghuashun iFinD data, out of these 25 companies, 20 plan to distribute cash dividends, accounting for 80% of the companies that have disclosed their annual reports, with a total proposed cash dividend of over 5.6 billion yuan.

In terms of planned dividend amounts, Shanjin International (000975.SZ) currently leads. Shanjin International’s main business involves precious metals and non-ferrous metal mining and trading. Benefiting from rising gold prices and other factors, the company achieved operating revenue of 17.099 billion yuan, a year-on-year increase of 25.86%; net profit attributable to shareholders of the listed company was 2.972 billion yuan, up 36.75%.

According to Shanjin International’s 2025 profit distribution plan, it proposes to pay a cash dividend of 4.8 yuan (including tax) per 10 shares to all shareholders, totaling 1.323 billion yuan, accounting for 44.82% of the net profit attributable to the company’s shareholders for this year.

Looking at past dividend data, Shanjin International’s dividend payout ratio is not particularly high. Tonghuashun iFinD data shows that since its listing in 2000, Shanjin International has paid dividends 21 times, with a total dividend amount of nearly 7.32 billion yuan and a dividend payout rate of 53.5%.

It is worth noting that, according to financial reports, as of the end of 2025, Shanjin International has undistributed profits of 6.793 billion yuan.

Another company with a relatively large cash dividend is Desay SV (002920.SZ), which plans to distribute a cash dividend of 12.50 yuan (including tax) per 10 shares to all shareholders, with an expected total payout of 742 million yuan, accounting for 30.26% of the net profit attributable to the parent company’s shareholders for this year.

Similar to Shanjin International, Desay SV has shown good performance growth in recent years. The 2025 annual report indicates that in 2025, the company’s high-end intelligent cockpit and advanced intelligent driving products maintained a leading market share, driving record high operating performance. The company achieved operating revenue of 32.557 billion yuan, a year-on-year increase of 17.88%; net profit attributable to shareholders of the listed company was 2.454 billion yuan, up 22.38%.

In recent years, Desay SV’s annual dividend payout rate has remained around 30%, close to that of 2025. According to Tonghuashun iFinD data, since its listing in 2017, Desay SV has paid 9 cash dividends, with a total scale of nearly 2.98 billion yuan.

Currently, most of the profit distribution plans for the above companies are in the board of directors’ proposal stage. Only Wohua Medicine (002107.SZ) and Guidance (300803.SZ), which disclosed their annual reports earlier, have announced implementation notices. The two companies will respectively distribute cash dividends of 84.2726 million yuan and 48.7834 million yuan.

Overall, 80% of the companies disclosing their annual reports this time plan to distribute cash dividends, which is a relatively high proportion. Tonghuashun iFinD data shows that in 2024, 3,626 A-share companies conducted annual cash dividends, accounting for about 67%.

Since the release of the new “National Nine Articles” in April 2024, the dividend distribution situation of A-share companies has continued to improve. The new “National Nine Articles” explicitly strengthen the regulation of cash dividends for listed companies. For companies that have not paid dividends for many years or have a low dividend ratio, restrictions are placed on major shareholders’ reduction of holdings and risk warnings are implemented. Meanwhile, the policy emphasizes increasing incentives for high-quality dividend companies and taking multiple measures to promote higher dividend yields. According to an announcement from China Securities Depository and Clearing Corporation Limited, starting from January 1, 2025, the fee for dividend distribution in the Shanghai and Shenzhen markets will be halved as a preferential measure.

According to data from the China Securities Association, the total cash dividends of listed companies in Shanghai and Shenzhen in 2024 amounted to 2.4 trillion yuan, an increase of 9% compared to 2023. The number and proportion of companies that continued to pay dividends in 2024 have both increased compared to the previous year. Among 2,447 Shanghai and Shenzhen A-share companies listed for more than three years, nearly 2,447 companies paid continuous cash dividends over the past three years, an increase of 12% from 2023.