Following Beiqi Medical, Qinyan Technology, a new third board company, has also launched a plan for high transfer and high dividends, and the company plans to "distribute cash dividends of 100 yuan (tax included) for every 10 bonus shares and 50 shares", and the company's share capital will expand rapidly.
In addition, there are a number of listed companies that plan to distribute cash "red envelopes" in large sums of money. Market participants believe that the new third board companies frequently have large dividends, and individual shareholders who have held shares for more than one year will enjoy preferential policies of individual income tax exemption.
Qinyan Technology pushes up the plan for sending high dividends
At the same time as the recent disclosure of the 2023 annual report, Qinyan Technology announced a dazzling annual equity distribution plan.
According to the plan, Qinyan Technology will give 50 bonus shares for every 10 shares to shareholders participating in the distribution with undistributed profits based on 27.469 million shares (if there are treasury shares or no distribution to all shareholders, the number of treasury shares or shares not participating in the distribution) should be subtracted, and a cash dividend of 100.00 yuan (tax included) will be distributed to shareholders participating in the distribution with undistributed profits.
The company's total share capital is 27.469 million shares, and the equity distribution is expected to distribute a total of 137.345 million bonus shares and a cash dividend of 274.69 million yuan. After the implementation of equity distribution, the company's share capital will expand rapidly.
Previously, Beiqi Medical also disclosed a high transfer and high dividend plan: the company's total share capital is 6 million shares, based on the number of shares to be distributed 6 million shares, and a cash dividend of 23.00 yuan (tax included) will be distributed to shareholders participating in the distribution with undistributed profits for every 10 shares, and 55 shares will be transferred to shareholders participating in the distribution with capital reserve. The equity distribution is expected to distribute a total cash dividend of 13.8 million yuan, an increase of 33 million shares.
The total amount of dividends proposed by Qinyan Technology this time far exceeds last year's profit. The annual report shows that the company will achieve revenue of 596 million yuan in 2023, a year-on-year decrease of 9%, a net profit of 97.33 million yuan, a year-on-year decrease of 15%, and a net profit of 92.61 million yuan after deducting non-profits, a year-on-year decrease of 17%. As of December 31, 2023, the undistributed profit of the listed company was 438.536 million yuan.
According to the data, Qinyan Technology is a state-level specialized and new "little giant" enterprise, which is mainly engaged in the research and development, production and sales of pigment intermediates and sulfamate high-efficiency superplasticizer products. The company purchases toluene, sulfuric acid, nitric acid, liquid chlorine, liquid alkali, alkali powder, formaldehyde, phenol and other production raw materials and water, electricity, coal and other energy sources from upstream suppliers.
According to the 2023 annual report, Qinyan Technology has a total of 41 shareholders, and the top ten shareholders are all natural person shareholders. Qiu Wenzhong, the largest shareholder, is the controlling shareholder and actual controller of the company, holding 19.767 million shares of the company, with a shareholding ratio of 71.96%.
A number of companies have paid large dividends
On the New Third Board, the most "trench" in dividends is Thunder Shares, a game operating company that has implemented large dividends year after year. Yongshi Network, another listed company whose main business is also involved in games, continued to show a high dividend plan despite the year-on-year decline in performance last year.
According to the 2023 annual equity distribution plan disclosed by Yongshi Network, the company's total share capital is 5 million shares, based on the number of shares to be distributed to 5 million shares, and a cash dividend of 80 yuan (tax included) will be distributed to shareholders participating in the distribution for every 10 shares based on undistributed profits. The equity distribution is expected to distribute a total cash dividend of 40 million yuan.
Yongshi Network is mainly engaged in the development of mobile games, and the company's product research and development models mainly include two mobile game product models: independent and joint research and development. The company's revenue in 2023 will be 280 million yuan, a year-on-year decrease of 19%, a net profit of 87.2 million yuan, a year-on-year decrease of 29%, and a net profit of 67.02 million yuan, a year-on-year decrease of 42%. As of December 31, 2023, the undistributed profit attributable to the parent company in the consolidated statements of the listed company was 255.865 million yuan, and the undistributed profit of the parent company was 240.418 million yuan.
According to the 2023 annual report, Yongshi Network has only 6 shareholders, and the actual controllers of the company are Liu Zhenyong, Peng Yan, and Chen Tianxiang, holding 29.70%, 19.80%, and 16.50% of the shares respectively, and Zhishi Investment, in which these 3 shareholders participate, holds 10% of the company's shares.
In addition, nearly 20 NEEQ companies, such as Shangketong, Qinhuai Fengguang and LONGi Instrument, have launched a high dividend plan of more than 10 yuan for 10 shares. Among them, the company's total share capital is 42.035 million 50,000 shares, based on the number of shares to be distributed 38.9799 million shares, and a cash dividend of 21.00 yuan (tax included) will be distributed to shareholders participating in the distribution for every 10 shares with undistributed profits. The equity distribution is expected to distribute a total cash dividend of 81.8578 million yuan.
In the eyes of market participants, the new third board company pays large dividends, and individual shareholders will directly enjoy the preferential individual income tax policy. Previously, in July 2019, the Ministry of Finance, the State Administration of Taxation and the China Securities Regulatory Commission jointly issued the Announcement on Continuing to Implement the Differentiated Individual Income Tax Policy on Dividends and Dividends of Companies Listed on the National Equities Exchange and Quotations. According to the policy, if an individual holds shares of a listed company for a period of more than one year, the income from dividends and dividends will be temporarily exempted from individual income tax. It is worth mentioning that this policy will be implemented from July 1, 2019 to June 30, 2024.
Pre-IPO dividends are in the spotlight
Dividends from companies planning to IPO are also in the spotlight. On April 12, the relevant departments issued a number of policies related to the provisions of dividends before and after the listing of enterprises.
The "Several Opinions on Strengthening Supervision and Preventing Risks and Promoting the High-quality Development of the Capital Market" issued by the State Council pointed out that the access to issuance and listing should be strictly controlled. Further improve the issuance and listing system. Raise the listing standards of the main board and the Growth Enterprise Market, and improve the evaluation standards for the scientific and technological innovation attributes of the Science and Technology Innovation Board. Improve the quality and efficiency of issuance and listing counseling, and expand the coverage of on-site inspections of enterprises under review and related intermediaries. It is clear that the dividend policy should be disclosed when listing. Situations such as pre-listing surprise "clearance" dividends will be included in the negative list for issuance and listing. Strictly supervise spin-offs and listings. Strict refinancing review and control.
In addition, the continuous supervision of listed companies is strictly enforced. Strengthen the supervision of cash dividends of listed companies. For companies that have not paid dividends for many years or have a low proportion of dividends, major shareholders are restricted from reducing their holdings and risk warnings are implemented. Increase incentives for high-quality companies that pay dividends, and take multiple measures to promote the increase in dividend yields. Enhance the stability, sustainability and predictability of dividends, and promote multiple dividends a year, pre-dividends, and dividends before the Spring Festival.
Since March 15, 2024, the China Securities Regulatory Commission (CSRC) has formulated and issued policy documents related to strengthening supervision and preventing risks and promoting the high-quality development of the capital market, proposing a series of policy measures from the aspects of issuance access, continuous supervision of listed companies, and supervision of intermediaries. Under the overall guidance of the China Securities Regulatory Commission, the Beijing Stock Exchange has studied and evaluated the detailed implementation measures at the exchange level in accordance with the requirements put forward in the policy documents, and has improved the institutional arrangements for public offering and listing, major asset restructuring, share reduction, dividends, and delisting, and revised the relevant supporting business rules.
The Beijing Stock Exchange said that in order to implement the relevant requirements of the China Securities Regulatory Commission's "Opinions on Strengthening the Supervision of Listed Companies (Trial)", further strengthen the supervision of dividends of listed companies, and promote listed companies to enhance their investment value, the Beijing Stock Exchange revised the "Guidelines for Equity Distribution", improved the regulatory requirements for cash dividends of listed companies, and encouraged listed companies to increase dividends and enhance investor returns. The first is to simplify the review process for interim dividends. The requirement for the board of directors to review the equity distribution plan at the same time when deliberating the periodic report was deleted, and the company was promoted to combine undistributed profits and pre-dividends for the current performance before the Spring Festival to facilitate multiple dividends within a year. The second is to clarify the medium-term dividend benchmark. Interim dividends are required to be based on the latest audited undistributed profits, and reasonable consideration should be given to the current profits, so as to eliminate the market's understanding of the audit requirements for interim dividend statements.
Zhu Weiyi, a veteran of the Beijing Stock Exchange market and general manager of Guangdong Power Private Equity Fund Management Co., Ltd., believes that the National Nine Articles on April 12 and the dividend rules issued by the China Securities Regulatory Commission and various exchanges have very detailed regulations, which can be summed up as: "less points before listing, more points after listing."
Editor-in-charge: Zhong Tian
Proofreading: Yang Lilin
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