湖南发展: 公司未来三年（2025-2027年）股东回报规划

Core Viewpoint - The company has established a shareholder return plan for the next three years (2025-2027) to ensure sustainable, reasonable, and stable returns for investors, focusing on cash dividends as the primary method of profit distribution [1][2]. Group 1: Principles of the Plan - The plan emphasizes continuous and stable profit distribution [1] - It aims to balance reasonable returns for investors with the company's sustainable development [1] - Cash dividends will be prioritized in profit distribution [1] - The company will consider the opinions of shareholders, especially minority investors, and independent directors [1] Group 2: Specific Profit Distribution Plan - The company will distribute profits through cash, stock, or a combination, with cash dividends being the priority when conditions are met [2] - Profit distribution will generally occur annually, with the possibility of mid-term distributions based on company circumstances [2] - Cash dividends will be prioritized if the company is profitable and has positive retained earnings, with a minimum of 30% of the average distributable profit over the last three years to be distributed in cash [2] - The board will consider various factors, including industry characteristics and financial health, to propose differentiated cash dividend policies [2] Group 3: Decision-Making Process - The board will develop a profit distribution proposal, considering the timing, conditions, and minimum ratios for cash dividends [3] - Independent directors can express opinions if they believe the cash dividend plan may harm the company or minority shareholders [4] - The company will communicate with shareholders, especially minority shareholders, to gather their opinions during the profit distribution proposal process [4] Group 4: Review and Adjustment Mechanism - The company will review the shareholder return plan at least every three years and make necessary adjustments based on feedback from shareholders and independent directors [6] - Any adjustments to the profit distribution policy must be thoroughly justified and approved by a two-thirds majority of voting shareholders [6] - The plan will be effective upon approval by the shareholders' meeting and will be interpreted by the board [6]