According to the flush data, as of February 28, 22 listed companies in Shanghai and Shenzhen have disclosed the profit distribution plan for 2022. From the perspective of profit distribution content, cash dividends have become the mainstream. Twenty-two listed companies have proposed cash dividend plans with different amounts. In addition, four companies also plan to increase their shares at the same time. Many analysts interviewed by the reporter of Securities Daily said that listed companies are no longer "clever" in the way of transferring high dividends to dividends, but instead focus on cash dividends to return to investors, which is conducive to curbing the hype in the secondary market and promoting the formation of value investment ideas. On the whole, three of the 22 listed companies listed above have a dividend amount of more than 0.5 yuan per share, namely, Flush, Focus Technology and Xinhan New Materials. Among them, the proposed dividend amount of the flush is the highest. According to the 2022 annual report of Tonghuashun, the company plans to distribute cash dividends of 25.00 yuan (tax included) to all shareholders for every 10 shares. Focus Technology reported that it plans to distribute cash dividends of 9 yuan (including tax) to all shareholders for every 10 shares. Xinhan Xincai mentioned in its annual report that it plans to distribute a cash dividend of 6 yuan (tax included) for every 10 shares to all shareholders, and transfer 3 shares to all shareholders for every 10 shares with capital reserve. With regard to the cash dividend scheme actively launched by listed companies, Shen Meng, chief strategist of Guangke Consulting, told the reporter of Securities Daily that in recent years, the regulatory authorities have proposed that listed companies increase cash dividend, hoping that more investors establish the concept of long-term investment and obtain stable returns. In addition, Pan Helin, co-director of the Digital Economy and Financial Innovation Research Center of the International Business School of Zhejiang University, also told the Securities Daily that cash dividends of listed companies are conducive to improving the shareholder return mechanism of the company and attracting more value investors. "After the full implementation of the registration system, the effect of survival of the fittest in the market will increase. If enterprises want to attract investors, they have to offer 'real gold and silver'. The stable return formed by high dividends will be more attractive to investors." Among the companies that have launched the cash dividend plan, some listed companies have issued separate profit distribution announcements to explain the rationality of the dividend plan. Some listed companies clearly stated in the profit distribution announcement that, in view of the company's current good operating conditions, in order to ensure the reasonable return on investment of shareholders, in accordance with the CSRC's policy of encouraging cash dividends of listed companies and the Articles of Association and other relevant provisions, on the premise of ensuring the normal development of the company, taking into account the reasonable return of investors and the long-term development needs of the company, relevant profit distribution plans were proposed. In addition, some independent directors of the company expressed their opinions on the profit distribution plan, and believed that the 2022 profit distribution plan of the company comprehensively considered the sustainable development of the company and the long-term interests of all shareholders and other factors, which is conducive to the sustainable, stable and healthy development of the company, and there is no harm to the interests of shareholders, especially small and medium-sized shareholders. "Increase the strength of cash dividends, so that investors' investment concept can change from looking for 'gimmicks' to focus on the sustainable operation ability of enterprises. For listed companies, under the background of the registration system, long-term and stable cash dividends can attract some cornerstone investors, and have a good role in promoting the stability of the company's market value." Shen