Normalization of mid-term dividends! For the second year in a row, Yao Ming Kangde (02359) officially announced the mid-term dividend reservation for 26 years, and the total amount of cash dividends exceeded 5.7 billion

The Zhitong Finance App learned that the shareholder return mechanism of Yao Ming Kangde (603259.SH/02359) is entering a new stage. Following the implementation of the first interim dividend in 2025, the company is expected to continue this initiative in 2026 to achieve the second consecutive year of mid-term dividends. Combined with the annual dividend plan, the total amount of cash dividends is expected to exceed 5.7 billion yuan in 2026, setting a new historical record. This means that the “mid-term dividend” is changing from a one-off special measure to a normalized and predictable return mechanism for the company.

The motivation for normalizing dividends stems from continuing to exceed expectations in performance growth. According to the 2025 results announcement, the company's annual revenue reached 45.456 billion yuan, and net profit to mother surged 102.65% year-on-year. Strong profitability and healthy cash flow provide a solid foundation for continued high dividends. In the seven years since its listing, Yao Ming Kangde has given back more than 20 billion yuan to shareholders through dividends and repurchases, accounting for more than 40% of net profit for the same period.

The analysis points out that “normalization of mid-term dividends” sends a triple signal: first, management has full confidence in operating cash flow and annual profit prospects; second, the “annual+medium term” double dividend rhythm has improved capital efficiency and enhanced investment attractiveness; and third, it has deepened the business philosophy of “sharing development results with shareholders”. In a market environment that pursues certainty, Yao Ming Kangde is continuing to consolidate its core asset position through the dual superior performance of “high performance growth+high shareholder return”.