Wanhua Chemical (600309) is a company with long-term and stable dividends. The reporter found that the company has implemented cash dividends for 23 years since its listing, with a cumulative net profit of 11831.4 billion yuan, with a cumulative cash dividend of 4121.3 billion yuan, with a dividend rate of 3483%。
Production costs are decreasing.
Recently, Wanhua Chemical released its 2023 performance report, which is expected to achieve revenue of 175.4 billion yuan in 2023, a year-on-year increase of 592%；Net profit 168100 million yuan, a year-on-year increase of 357%；Net profit after deducting non-profit was 1640.8 billion yuan, a year-on-year increase of 387%；Basic earnings per share was 536 yuan.
Regarding the 2023 results, Wanhua Chemical said: "During the reporting period, the company's new plant production capacity was rapidly released, and the company continued to deepen the global market, with a year-on-year increase in product sales, but the company's product sales decreased year-on-year, and at the same time, affected by factors such as the decline in major chemical raw materials and energy, the production cost of products also decreased year-on-year. ”
The results for the fourth quarter of 2023 exceeded market expectations. Liu Hairong, an analyst at Minsheng, believes that "the company has established a strong competitive advantage through continuous technological innovation and industrial chain layout." 2024 to 2025 is the peak of the company's capital expenditure, and a large number of projects under construction will be put into operation one after another. ”
The company responded with dividends.
On February 3, 2024, the company highlighted in its report on promoting "improving quality and efficiency and emphasizing returns" and the 2023 annual performance express report that it has formed four industrial clusters of polyurethane, petrochemical, fine chemicals, and emerging materials with a highly integrated industrial chain and deep integration, and achieved sustainable and steady development by increasing technological innovation, expanding international layout, and deepening the construction of an excellent operation system.
At the same time, the company said that it has always attached importance to reasonable returns to investors, and in the past three years, the proportion of cash dividends to net profit has been higher than 30%.
From 2020 to 2022, the proportion of the company's cash dividend amount to the net profit attributable to the parent company in the consolidated statements of the year was .In the future, the company will strengthen the implementation of the shareholder return plan, and continue to increase project investment in related fields in accordance with the strategic plan in combination with the current operating situation and business development goals, so as to bring long-term investment returns to shareholders.
The company continues to pay cash dividends to investors and is seen as a sign of stable earnings and healthy cash flow. These initiatives of the company are designed to provide shareholders with long-term financial returns, not just short-term benefits. An analyst at a brokerage firm in Shanghai told the reporter of the "Public ** Daily" on the 5th, "The company's generous response to dividends reflects its commitment to safeguarding the interests of investors and ensuring the long-term growth of shareholder value through smart investment and clear communication strategies."
Reporter Zhang Cao.