Nearly 90% of the annual net profit was used to pay dividends, which attracted attention. On March 2, the Shenzhen Stock Exchange issued a letter of concern to Jiangsu Boiln Plastics Co.Ltd(301003) requesting to explain the reasons and necessity of continuous high proportion dividends after listing, and whether there is a situation of transferring benefits to major shareholders through cash dividends.
The letter of concern pointed out that Jiangsu Boiln Plastics Co.Ltd(301003) implemented the semi annual equity distribution in 2021 in September 2021, and distributed a cash dividend of 10 yuan for every 10 shares based on the total share capital of 58.27 million shares. On March 1, 2022, the profit distribution plan for 2021 was disclosed. It is proposed to distribute cash dividends of 10 yuan for every 10 shares based on the total share capital of 58.27 million shares, and convert capital reserve into 7 shares for every 10 shares. Based on this calculation, cash dividends distributed in Jiangsu Boiln Plastics Co.Ltd(301003) 2021 totaled 116.53 million yuan. From 2019 to 2021, Jiangsu Boiln Plastics Co.Ltd(301003) realized the net profit attributable to shareholders of listed companies (hereinafter referred to as net profit) of 77.19 million yuan, 110.86 million yuan and 134.97 million yuan. The total dividend of 2021 accounted for 86% of the net profit of the year.
In this regard, the Shenzhen stock exchange requires Jiangsu Boiln Plastics Co.Ltd(301003) to explain the basis and rationality of determining the proportion of profit distribution in the half year and the year of 2021, the reason and necessity of continuously paying a high proportion of dividends after listing, and whether there is a situation of transferring benefits to major shareholders through cash dividends
Explain the specific process of planning the profit distribution plan of the company, as well as the trading of the company’s shares by insiders and their close relatives within one month before the disclosure of the profit distribution plan.
Explain the company’s media interviews and institutional research within one month before the disclosure of the profit distribution plan, and verify whether there is any disclosure of information related to the profit distribution plan to specific investors.
According to the official website of the enterprise, Jiangsu Boiln Plastics Co.Ltd(301003) was established in 2006. The company’s products cover automotive, electronic and electrical appliances, health home, electric tools and other application fields.
In the secondary market, as of the closing on the 2nd, Jiangsu Boiln Plastics Co.Ltd(301003) shares rose 2.42% to close at 62.55 yuan / share.
