On the evening of October 13, Hangzhou Grascent Co.,Ltd. (301688) issued an announcement stating that the company's board of directors received a proposal from Chairman Lu Wencong that same day regarding the formulation of a profit distribution plan for the company's 2026 third quarter and accumulated undistributed profits.
In order to actively reward the broad base of investors, continuously enhance the company's investment value, and boost investor confidence in the company's future development, and in accordance with relevant regulations while comprehensively considering the funds needed for the company's future sustainable development and reasonable returns to investors, Chairman Lu Wencong proposed that, provided the profit distribution policy complies with relevant laws and regulations and the company's Articles of Association, the company distribute a cash dividend of 10 yuan per 10 shares (including tax) to all shareholders based on the total share capital on the equity registration date for the future implementation of the profit distribution plan, without issuing bonus shares, without converting capital reserves into share capital, and without any other form of profit distribution.
On September 2 of this year, Hangzhou Grascent was listed on the ChiNext board of the Shenzhen Stock Exchange. According to the listing announcement, the company's issue price was 26.33 yuan per share, corresponding to an issue price-to-earnings ratio of 19.8 times. On its first day of trading, the company's share price surged to as high as 72 yuan per share before fluctuating downward, closing at 38.86 yuan per share as of October 13.
Public information shows that Hangzhou Grascent is a pioneer and one of the important well-known enterprises in China's fragrance industry, focusing on the research and development, production, and sales of fragrance products. It has formed three major product series: turpentine, cedarwood oil, and fully synthetic. Specific products include nearly 40 subdivided fragrance varieties such as sandalwood (turpentine series), methyl cedryl ketone (cedarwood oil series), and damascenone (fully synthetic series). Its products are mainly sold to large international fragrance and flavor enterprises and are widely used in downstream daily chemical applications, with broad market demand potential.
After deducting issuance expenses, the funds raised from the listing will be primarily invested in projects including "annual production of 6,300 tons of high-grade fragrances," "intelligent transformation of factory facilities," and "research and innovation transformation and upgrading."
In terms of performance, Hangzhou Grascent achieved operating revenue of 608 million yuan from January to June 2026, an increase of 11.07% compared to the same period last year; net profit attributable to the parent company was 98.5212 million yuan, an increase of 4.17% compared to the same period last year; and net profit excluding non-recurring gains and losses was 96.8442 million yuan, an increase of 3.79% compared to the same period last year.
In the announcement on the evening of the 13th, the company stated that the specific profit distribution plan will be formulated by the board of directors in accordance with the law within the scope authorized by the shareholders' meeting, based on the company's 2026 third quarter financial situation, accumulated undistributed profits, cash flow conditions, and the company's development plan, and will fulfill approval procedures and information disclosure obligations in accordance with relevant regulations.
Lu Wencong pledged to actively promote the company's convening of a board of directors meeting to review the matter of the 2026 third quarter and accumulated undistributed profit distribution plan, and will vote in favor when the relevant meeting reviews this matter.
However, the above profit distribution matter must fulfill relevant approval procedures in accordance with regulations before it can be implemented, and uncertainty still exists. Investors are kindly reminded to pay attention to investment risks.
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