TOPSPORTS (HKEX: 06110) experienced a significant surge of over 7% in afternoon trading. By the time of writing, the stock had risen 7.14% to HK$3.00, with a trading volume of HK$42.39 million.

This movement follows the company's release of its full-year results. Annual revenue was reported at RMB 25.74 billion, representing a year-on-year decrease of 4.7%. Net profit attributable to shareholders was RMB 1.267 billion, down 1.5% compared to the previous year.

The company has proposed a final dividend of RMB 0.03 per share along with a special dividend of RMB 0.12 per share. Combined with the interim dividend, the total annual dividend payout ratio reached 137.1%.

Analysis suggests that amidst market skepticism regarding the company's ability to maintain a 135% payout ratio for FY25, TOPSPORTS has once again raised the bar by increasing its payout ratio to 137% for FY26 through the special dividend. This move not only elevates the FY26 dividend yield to over 11% but also further solidifies the company's reputation among investors as a high-dividend stock.