Dividend Policy

The dividend policy of the Company based on the principle of stable and even, considering both the profit of shareholders and the impact to the operational performance. Earnings may be distributed in total after taking financial, business and operational factors into consideration. Distribution of earnings shall be made preferably by way of cash dividend, may also be made by way of stock dividend, and provided however, the ratio for stock dividend shall not exceed 50% of total distribution. In case there are no earnings for distribution in a certain year, or the earnings of a certain year are far less than the earnings actually distributed by the Company in the previous year, or considering the financial, business or operational factors of the Company, the Company may allocate a portion or all of its reserves for distribution in accordance with relevant laws or regulations or the orders of the authorities in charge.