dividends-8846威尼斯

dividend policy

company policy dictates:

should the company report profits for the year, 3-12% will be distributed as employee bonuses, 1-2% as director and supervisor bonuses. however, should the company report losses for the year, recouping the lost numbers will be prioritized.

cash and stock options are eligible as employee bonuses. applicable to main and subsidiary branch employees that fit requirements decided by the board of directors.

should the company report a surplus for the year, priority will be given to taxes and making up for the loss of the previous year. furthermore, 10% will be reserved towards the statutory surplus requirement. however, should the surplus requirement be met, exemption can be made. after taking into account company operations costs, statutory requirements, and special surplus, the remaining balance in addition to undistributed surplus will have 10-100% allocated by the board of directors. proposed surplus distribution is presented during the shareholder’s meeting for resolution.

cash dividends shall not be less than 30% of the total dividend. however, if the cash dividend is less than 0.1 yuan per share, it must be distributed as a stock dividend. surplus distribution ratio is subject to adjustment based on factors such as profits, capital budget and capital status for the year. if cash dividend is used as the surplus distribution in the preceding paragraph, the board of directors is authorized to distribute and report to the shareholders' meeting.