200 Companies Release Annual Reports with Dividend Distributions, Leading Companies Generous with Cash Payouts

Securities Times Reporter Liu Junling

A-shares’ 2025 annual reports with cash dividends are being implemented intensively, and listed companies are steadily increasing their shareholder returns. According to Securities Times Data Treasure, as of the close on March 24, 224 companies have announced their annual dividend plans, with a total cash dividend of 171.068 billion yuan, of which 27 companies have dividends exceeding 10 billion yuan.

5 Leading Companies with Annual Dividends Over 100 Billion Yuan

Data shows that the top of the dividend list exhibits a significant head effect. Among the 27 companies with dividends over 10 billion yuan, five leading enterprises—CATL (300750), Sinopec (600028), Foxconn Industrial Internet (601138), CITIC Bank (601998), and others—have broken the 100-billion-yuan mark.

CATL has the highest total dividend, planning to distribute 69.57 yuan (tax included) in cash dividends per 10 shares to all shareholders, with a proposed total payout of 31.532 billion yuan, setting a new record since the company’s listing. The company’s 2025 performance continues to grow rapidly, with operating revenue reaching 423.702 billion yuan, up 17.04% year-on-year, and net profit attributable to parent of 72.201 billion yuan, up 42.28%.

Sinopec follows closely, with a cash dividend of 0.112 yuan (tax included) per share, totaling 13.544 billion yuan (tax included). The annual report shows that due to sharp declines in international crude oil prices and sluggish chemical market gross margins, the company’s performance has decreased significantly year-on-year. However, cash flow from operating activities remains ample, and financial health is stable. The total cash dividend per share is 0.2 yuan, and after combining with share repurchases, the payout ratio reaches 81%.

In terms of market performance, since March, the stock prices of companies that have announced dividend plans have generally declined, with an average drop of 10.37%. Companies with large dividends over 10 billion yuan have been relatively resilient, with 27 such companies experiencing an average decline of 5.77%. Baofeng Energy (600989), CATL, CITIC Bank, and Satellite Chemical have all gained more than 10%.

19 Large Dividend Companies with Growth in Parent Net Profit

Among the 27 companies with dividend plans exceeding 10 billion yuan, 19 have achieved year-on-year growth in parent net profit, accounting for over 70%. High-growth listed companies tend to show stronger dividend willingness.

Shenghong Technology saw the highest growth, with 2025 net profit attributable to parent reaching 4.312 billion yuan, up 273.52%, and planning to distribute 1.74 billion yuan in cash dividends. The company’s annual report states that it has seized the historic opportunity of AI computing power technology innovation and data center upgrades, continuously consolidating its technological leadership in the global PCB manufacturing field. Its overseas business performed strongly, with direct export revenue of 14.821 billion yuan, a 126.88% increase year-on-year.

WuXi AppTec’s growth is also notable, with net profit attributable to parent reaching 19.151 billion yuan, up 102.65%. The company indicated in its annual report that its performance is closely related to the development of the global pharmaceutical industry and investment in new drug R&D. Driven by the booming global pharmaceutical industry, the company’s main business has broad development prospects, and the global pharmaceutical market size and demand for R&D services are expected to continue growing.

Over 40 Companies in the Electronics Sector Distribute Dividends

From an industry perspective, the listed companies that have announced annual dividend plans are mainly concentrated in six sectors: electronics, pharmaceuticals and biology, power equipment, basic chemicals, machinery, and non-ferrous metals. Each of these sectors has more than 10 companies, with electronics leading at 42 companies, followed by pharmaceuticals and biology with 25.

Within the electronics sector, semiconductor companies are the most active in distributing dividends, with 20 semiconductor companies having announced dividend plans, totaling 2.05 billion yuan in dividends. In recent years, the semiconductor industry has experienced rapid growth. According to the U.S. Semiconductor Industry Association, global semiconductor sales in January 2026 are projected to reach $82.54 billion, a new high, up 3.65% month-on-month, marking 11 consecutive months of growth.

Among semiconductor companies, Cambrian (寒武纪) has the highest total cash dividend, reaching 632 million yuan, and plans to issue 4.9 shares for every 10 shares held. The company achieved profitability for the full year for the first time in 2025, with its A-shares removing the “U” special label and releasing its first annual dividend plan. The company states that leveraging its significant progress in AI chip products, basic software platforms, and cluster software toolchains, its products have been deployed at scale in key industries such as telecom, finance, and internet, passing rigorous customer environment tests, and gaining broad recognition for their versatility, stability, and ease of use.

CITIC Securities research notes that the semiconductor equipment and component sector is currently under a dual trend of independent controllability: on one hand, AI-driven capacity expansion cycles are opening, with domestic equipment requirements increasing for Chinese semiconductor equipment, and the localization of components expanding the overall market space; on the other hand, the overall localization rate of key components remains low, and high-end product substitution is still in early stages.