Global Times | A-share companies dole out interim dividend payouts of over $23 billion to reward investors
A total of 1,688 A-share listed companies released their 2025 interim reports as of Sunday, with 978 positing year-on-year net profit growth.
Among them, 288 companies announced interim dividend plans alongside their reports, with a total proposed dividend payout of 164.698 billion yuan ($23.1 billion), according to statistics from Wind, a Chinese provider of financial information, published on Monday.
The average interim cash dividend payout ratio for companies disclosing 2025 interim reports is approximately 80.87 percent, a significant increase from 36.14 percent seen in 2024, Wind data showed.
Analysts said that since the introduction of the "State Council's Nine-Point Guidelines" in April 2024, promoting multiple dividends annually, including pre-dividends, interim and quarterly dividends have edged up among listed companies.
Overall, among the 1,688 public companies, 610 reported net profits attributable to shareholders topping 100 million yuan, 92 companies exceeded 1 billion yuan, and 9 surpassed 10 billion yuan, Wind data showed.
Additionally, 809 companies recorded their year-on-year growth in net profit attributable to shareholders exceeding 10%, with 391 growing more than 50 percent growth, and 227 more than 100 percent.
Sectors such as electronics, agriculture, forestry, fisheries, machinery, non-ferrous metals, household appliances, and social services reported strong revenue performance, while agriculture, building materials, electronics, power equipment, media, steel, and machinery led the net profit growth.
Robust financial performance has enabled the listed companies' ability to reward investors. In total, 119 companies proposed interim cash dividends exceeding 100 million yuan, 56 over 300 million yuan, and 21 over 1 billion yuan. Leading the pack are China Mobile, China Telecom, and Sinopec.
This year, a number of companies are planning their first-ever interim dividends. According to news portal Yicai, more than 20 firms disclosing 2025 interim profit distribution plans as of Sunday are set to issue their first interim cash dividend.
Additionally, 18 companies planned interim dividends of more than 1 billion yuan, with some exceeding 3 billion yuan, including Muyuan Foods Co, Contemporary Amperex Technology Co (CATL), and China Unicom.
More than 30 percent of other dividend-paying companies plan payouts ranging from 100 million and 1 billion yuan, according to Yicai.
The rise in dividend payouts sends an encouraging signal. This clearly shows that, under regulatory guidance and market evolution, more A-share companies are prioritizing shareholder returns, marking a significant step toward market maturity and the deepening of value investing principles, Yang Delong, chief economist of the Shenzhen-based First Seafront Fund, told the Global Times on Monday.
"This shift shows that the A-share market is moving from a past focus on 'heavy financing, light returns' toward a healthier balance between investment and financing. A stable dividend culture enhances the attractiveness and stability of the entire capital market," said Yang.
Over the past week, China's stock market continued its strong upward momentum, demonstrating that once market enthusiasm for buying is ignited, coupled with favorable policies, it can further amplify investors' optimism, Yang noted.
"I believe this signals a sustained 2 to 3-year steady bull market run," said Yang.