MPCSH(SZ:000637) Zheng Quan Zhi Xing·2025-08-31 08:12Core Viewpoint - The company has established a shareholder return plan for the next three years (2025-2027) to enhance transparency and operational feasibility in profit distribution, ensuring reasonable returns for all shareholders [1][2]. Group 1: Considerations for the Plan - The company focuses on strategic goals and sustainable development while considering operational realities, shareholder demands, social capital costs, external financing environments, and cash flow [1]. - The plan emphasizes a scientific, continuous, and stable profit distribution policy that prioritizes reasonable returns to shareholders while ensuring the company's sustainable health [1][2]. Group 2: Specific Dividend Return Plan - The company will distribute dividends in cash, stock, or a combination of both, based on current profitability, cash flow, development stage, and funding needs [1][2]. - The minimum dividend payout ratio for the next three years will be at least 30% of the average distributable profit, contingent on sufficient cash flow for normal operations and long-term development [2][3]. - If the company's performance grows rapidly, the board may propose stock dividends in addition to the minimum cash dividends, depending on annual profitability and cash flow [2]. Group 3: Decision-Making Procedures - The annual profit distribution proposal will be drafted by management and the board, considering the company's articles of association, profitability, funding needs, and shareholder return plan, and will be submitted for shareholder approval [3][4]. - The board must carefully evaluate the timing, conditions, and minimum ratios for cash dividends, with independent directors required to provide clear opinions [3][4]. - The company will actively communicate with shareholders, especially minority shareholders, to gather their opinions and address their concerns regarding the dividend proposals [3][4]. Group 4: Oversight and Review Mechanisms - The audit committee will supervise the execution of the dividend policy and shareholder return plan, ensuring compliance with decision-making procedures [4][5]. - Any adjustments to the profit distribution policy must prioritize shareholder protection and require thorough justification and adherence to decision-making protocols [5]. Group 5: Implementation and Governance - The shareholder return plan will be reviewed at least every three years, with potential adjustments based on shareholder feedback and independent directors' opinions [5]. - The plan will take effect upon approval by the company's shareholders and will be interpreted by the board [5].