> 数据图表咨询大家3.22025-6-43.2高分红提供持续稳定的股东回报 高分红、稳增长、高股息，中药央国企红利价值凸显。我们梳理了2024年股息率超2%且预计2025年股息率超2%的中药企业，其中超半数为央国企，中药央国企中江中药业、东阿阿胶股息率靠前，值得注意的是天士力2024年加大了分红力度，全年3次分红，股息支付率达82.86%。公司名称济川药业202135.1%202237.4%分红率202342.4%江中药业 108.3%121.5%115.5%东阿阿胶96.5%97.3%桂林三金 152.4%142.6%云南白药方盛制药佐力药业羚锐制药康恩贝天士力华润三九达仁堂贵州三力葵花药业健民集团马应龙同仁堂白云山73.2%92.0%67.8%78.0%20.5%20.9%41.1%50.3%0.0%57.7%38.0%32.5%32.4%30.0%90.4%53.9%77.1%72.7%107.7%-192.2%40.4%100.1%20.4%67.3%37.6%31.5%30.8%30.0%99.6%83.7%90.5%68.3%82.4%79.4%85.2%46.0%52.0%99.9%27.9%78.3%35.3%38.9%41.1%30.0%2024年股息率超2%且预计2025年股息率超2%的中药企业归母净利润（亿元）202475.9%95.8%99.8%67.6%90.1%53.3%81.8%70.6%60.8%82.9%50.3%44.2%50.2%59.3%38.1%50.6%89.9%45.9%2025E76%90%100%85%90%70%80%70%70%85%50%100%50%59%35%51%65%30%202425.327.8815.575.2247.492.555.087.236.229.5633.6822.292.744.923.625.2815.2628.352025E22.758.9218.535.1252.123.096.628.297.1211.4738.538.643.175.045.166.3917.6631.54202120222.4%3.7%1.2%6.0%2.8%1.3%1.1%2.0%3.4%2.0%2.7%1.5%0.0%4.3%2.0%1.2%0.8%2.6%3.1%4.9%2.2%5.3%2.7%3.1%1.7%2.5%3.2%2.0%3.1%3.3%0.8%6.2%2.5%1.2%0.9%2.7%股息率20234.6%5.6%3.3%4.0%3.6%2.6%2.5%3.3%4.3%2.0%4.7%3.7%1.6%9.3%2.9%1.4%1.3%2.8%20242025E7.4%5.2%4.5%4.0%4.2%2.8%3.4%3.7%3.2%3.2%4.1%3.7%2.8%3.1%2.2%2.2%2.7%3.0%6.7%5.4%5.4%4.9%4.6%4.4%4.3%4.2%4.1%4.0%3.6%3.3%3.2%3.2%2.9%2.6%2.2%2.2%资料来源：wind，浙商证券研究所估算（归母净利润来自wind一致预期，截至2025年6月12日收盘）13浙商证券综合其他
