Share’s code： 000550 Share’s Name： Jiangling Motors No.： 2024—028
200550 Jiangling B
Jiangling Motors Corporation, Ltd.
PublicAnnouncement on Year 2023 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 2023 was approved
at the Company’s 2023 Annual Shareholders’ Meeting held on June 25, 2024, 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 6.84 (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 ofAshares 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 2023 is as follows:
based on the Company’s total share capital of 863,214,000 shares, a cash dividend of
RMB 6.84 (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 6.156 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
6.84 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 paytax 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 6.156 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 6.84 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 1.368 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 0.684 per 10
shares; regarding the shareholder period over one year, there is no extra tax payment.
Special statement: as the Companyis 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 0.9124, 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 26, 2024) immediately after the relevant resolutions were passed at
the Company’s Shareholders’ Meeting. The tax to be paid bythe 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 18, 2024;
Ex-dividend date: July 19, 2024.
2. Last trading date for B shares: July 18, 2024;
Ex-dividend date: July 19, 2024;
Equity record date for B shares: July 23, 2024.
IV. Beneficiaries
1. All the A-share holders of the Company who have registered with China Securities
Depository and Clearing Corporation, Ltd.,
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