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INVESTOR  RELATIONS

Dividend Policy

Companies can use cash, stock or cash and stocks to distribute

dividends. Cash dividends take precedence over stock dividends.

The company's profit distribution should pay attention to the

reasonable return on investment of investors, profit distribution

policy should maintain continuity and stability, the company's profit distribution policy is:

 

(1) When the company realizes profit in the current year in

accordance with the profit distribution conditions, and there is no

major investment plan or major cash expenditure, the company

must make annual cash dividends, and the annua l profit distributed in cash is not less than the distributable profit realized in the current year. Fifteen percent. The company's board of directors can

propose interim cash dividends based on the company's funding

needs.

       The board of directors of the company shall comprehensively

consider the characteristics of the industry, development stage,

business model, profitability and whether there are major capital

expenditure arrangements, etc., distinguish the following situations, and carry out differentiated cash dividends according to the

procedures stipulated in the Articles of Association;

       When the company's development stage is mature and there is no major capital expenditure arrangement, when the profit

distribution is made, the cash dividend will account for 80% of the

profit distribution.

       When the company's development stage is mature and there

are major capital expenditure arrangements, when the profit

distribution is made, the cash dividend will account for 40% of the

profit distribution.

 

The company's development stage is a long-term and has major

capital expenditure arrangements. When distributing profits, the

proportion of cash dividends in this profit distribution should be at

least 20%; the company's development stage is difficult to

distinguish but there are major capital expenditure arrangements.

Can be handled in accordance with the provisions of the preceding paragraph.

      (2) Major investment plans or major cash expenditures refer to one of the following situations:

        In the next 12 months, the company plans to invest in foreign

investment, purchase assets or purchase equipment to meet or

exceed 50% of the company's latest net assets under review, and

exceed RMB 50 million;

        In the next 12 months, the company plans to invest in foreign

investment, purchase assets or purchase equipment to meet or

exceed 30% of the company's latest audited total assets.