BANK OF CHINA(601988) 证券之星·2025-03-30 09:13Core Viewpoint - The China Bank has established a shareholder return plan for the years 2025-2027, emphasizing cash dividends while considering long-term sustainability and overall shareholder interests [1][2]. Group 1: Basic Principles - The plan prioritizes shareholder returns while balancing the bank's long-term interests and sustainable development [1]. - Annual profit distribution will adhere to the proportions outlined in the company's articles of association [1]. - Cash dividends will be the preferred method of profit distribution [1]. - The profit distribution policy aims to maintain continuity and stability [1]. Group 2: Key Considerations for the Shareholder Return Plan - The plan will consider the bank's long-term sustainable development, analyzing factors such as the banking industry's operating environment, shareholder expectations, social capital costs, external financing conditions, and regulatory policies [1]. - The bank will balance business sustainability with comprehensive shareholder returns, taking into account capital, business development, profit scale, investment needs, and liquidity [1]. Group 3: Shareholder Return Plan for 2025-2027 - The bank will determine the frequency and level of dividends based on operational performance, financial status, and future development, aiming to enhance the stability and predictability of dividends [2]. - Dividends may be distributed in cash, stock, or a combination of both [2]. - In normal circumstances, the bank will distribute cash dividends of at least 10% of the after-tax profit attributable to ordinary shareholders, provided there are profits and retained earnings are positive [2]. - Special circumstances that may affect dividend distribution include significant investments, low capital adequacy ratios, regulatory restrictions, and force majeure events [2]. Group 4: Decision-Making and Supervision Mechanism - The board of directors will formulate the plan based on relevant laws, regulations, and the company's articles of association, considering input from shareholders, independent directors, and the supervisory board [4]. - Adjustments to the profit distribution policy may occur due to force majeure, significant regulatory changes, or substantial changes in the bank's operating conditions [4]. - The profit distribution plan will be proposed by the president and submitted for board and supervisory board review before being presented to the shareholders' meeting for approval [4]. Group 5: Implementation Mechanism - The shareholder return plan applies to ordinary shareholders, while preferred shareholders will follow specific provisions in the company's articles of association [5]. - The plan will take effect upon approval by the shareholders' meeting [5].