Chipown(SH:688508) Zheng Quan Zhi Xing·2025-05-30 15:21Core Viewpoint - The company aims to establish a scientific, sustainable, and stable profit distribution mechanism to enhance transparency and protect the rights of minority investors while ensuring long-term development [1] Profit Distribution Policy - The company emphasizes reasonable returns for shareholders, particularly minority shareholders, and aims to create a stable profit distribution policy based on profitability and strategic needs [2][3] - The distribution of after-tax profits follows a specific order, prioritizing the replenishment of previous losses before allocating to reserves [2] - The company will prioritize cash dividends, with stock dividends considered only when cash flow is sufficient and the overall interests of shareholders are maintained [2][4] Conditions for Cash and Stock Dividends - Cash dividends are contingent upon positive distributable profits, sufficient cash flow, and the absence of major investment plans exceeding 30% of the latest audited net assets [3] - Stock dividends can be proposed when the company is performing well, ensuring that cash dividends are adequately distributed [4] - The company aims for a minimum cash dividend ratio of 80% for mature companies without major expenditures, 40% for those with significant expenditures, and 20% for growing companies with major expenditures [4][5] Decision-Making Mechanism - The company’s profit distribution decisions are made through a structured process involving the board of directors and shareholder meetings, ensuring transparency and communication with minority shareholders [5][6] - Adjustments to the profit distribution policy require thorough justification and approval from two-thirds of the voting rights at the shareholder meeting [6][7] Information Disclosure - The company is required to disclose detailed information regarding its cash dividend policy, including compliance with regulations, clarity of standards, and the opportunity for minority shareholders to express their opinions [7][8] - For companies planning to issue securities, there is an obligation to disclose the profit distribution policy and recent dividend history, ensuring transparency for investors [8][9] Supervision Mechanism - The board and management's adherence to the profit distribution policy is subject to oversight by the audit committee [9] - In cases of shareholder misconduct involving fund misappropriation, the company will deduct the corresponding cash dividends to recover the funds [9]