Share’s code： 000550 Share’s Name： Jiangling Motors No.： 2023—027
200550 Jiangling B
Jiangling Motors Corporation, Ltd.
PublicAnnouncement on Year 2022 Dividend Distribution
Jiangling Motors Corporation, Ltd. and its Board members undertake that the
information disclosed herein is truthful, accurate and complete and does not
contain any false statement, misrepresentation or major omission.
I. Review and approval of the Proposal on Dividend Distribution at a Shareholders’
Meeting
1. The proposal on dividend distribution of Jiangling Motors Corporation, Ltd.
(hereinafter referred to as “JMC” or the “Company”) for the year 2022 was
approved at the Company’s 2022 Annual Shareholders’ Meeting held on June 16,
2023, and the proposal on dividend distribution is as follows: based on the
Company’s total share capital of 863,214,000 shares, a cash dividend of RMB 4.24
(including tax) per 10 shares is to be distributed to shareholders.
2. The total share capital of the Company remains unchanged from the disclosure of
the distribution proposal to the implementation period. The total share capital is
863,214,000 shares, of which the total number of A shares is 519,214,000 shares
and the total number of B shares is 344,000,000 shares.
3. The distribution of dividends is consistent with the proposal on dividend
distribution approved at the Shareholders’Meeting.
4. The time limit for the distribution of dividends is no more than two months from
the annual shareholders’meeting.
II. Proposal on Dividend Distribution
The proposal on dividend distribution of the Company for the year 2022 is as follows:
based on the Company’s total share capital of 863,214,000 shares, a cash dividend of
RMB 4.24 (including tax) per 10 shares is to be distributed to shareholders. After tax,
qualified foreign institutional investors (QFII and RQFII) holding the Company’s
A-shares, individual shareholders and securities investment funds holding the
Company’s pre-IPO limited tradable A-shares will receive a cash dividend of RMB
3.816 per 10 shares. Individual shareholders holding the Company’s post-IPO limited
tradable A-shares, equity incentive limited tradable A-shares or unlimited tradable
A-shares will receive their dividends at differentiation tax rate, i.e., receive a cash
dividend of RMB 4.24 per 10 shares firstly and pay taxes per actual shareholding
period in case investors reduce their holdings of shares after equity record day (Note).
Regarding to the tax on dividends of securities investment funds holding the
Company’s post-IPO limited tradable A-shares, equity incentive limited tradable
A-shares or unlimited tradable A-shares, Hong Kong investors will pay tax at 10% of
tax rate, and domestic investors will pay tax at differentiation tax rate. Non-resident
enterprise shareholders holding the Company’s B-shares and individual shareholders
holding the Company’s pre-IPO limited tradable B-shares will receive an after-tax cash
dividend of RMB 3.816 per 10 shares. Domestic and foreign individual shareholders
holding the Company’s unlimited tradable B-shares will receive their dividends at
differentiation tax rate, i.e., receive a cash dividend of RMB 4.24 per 10 shares firstly
and pay taxes per actual shareholding period in case investors reduce their holdings of
shares after equity record day.
Note: shareholding period will be counted on securities account and apply “First-In,
First-Out”. Regarding the shareholding period within one month (including one month),
the shareholder will pay extra tax payment of RMB 0.848 per 10 shares when sells the
shares; regarding the shareholding period between over one month and one year
(including one year), the shareholder will pay extra tax payment of RMB 0.424 per 10
shares; regarding the shareholder period over one year, there is no extra tax payment.
Special statement: as the Company is a joint venture, the foreign individual
shareholders may temporarily exempt from dividend income tax.
The cash dividend paid to the shareholders holding B shares shall be paid in Hong
Kong Dollars converted at HKD 1.00 = RMB 0.9102, being the middle rate of the
exchange rates between HK dollar and RMB quoted by the People’s Bank of China on
the first business day (June 19, 2023) immediately after the relevant resolutions were
passed at the Company’s Shareholders’ Meeting. The tax to be paid by the individual
shareholders holding B shares withheld in the future shall be converted according to
the aforementioned exchange rate.
III. Equity Record Date and Ex-dividend Date
1. Equity record date forAshares: July 20, 2023;
Ex-dividend date: July 21, 2023.
2. Last trading date for B shares: July 20, 2023;
Ex-dividend date: July 21, 2023;
Equity record date for B shares: July 25, 2023.
IV. Beneficiaries
1. All the A-share holders of the Company who have registered with China Securities
Depository and Clearing Corporation,
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