Stock Code: 600299

Stock Name: Adisseo

No: 2020-006

Bluestar Adisseo Company

Announcement on Profit Distribution Plan of 2020

The board of directors and all directors guarantee that the contents of this Announcement are free of false information, misguiding representations or material omissions, and shall be jointly and severally liable for the authenticity, accuracy and completeness of the contents therein.

Note:

  • Distribution ratio per share: 1.76 Yuan (including tax) per 10 shares. No other plans.
  • The distribution of profits shall be based on the total share amount as at the equity registration date, and the registration date shall be specified in the announcement on profit distribution.
  • If the total share capital of Adisseo changes before the date of registration, it is proposed to maintain the same distribution ratio per share and adjust the total amount of distribution accordingly. An announcement shall be released accordingly.
  1. Profit distribution plan
    As audited by KPMG Huazhen LLP, the net profit attributable to the shareholders of Bluestar Adisseo Company (the Company) at the consolidated level for the year ended 31st December 2020 amounted to RMB 1,351,600,222 and the accumulated profits available for distribution at parent company level as at 31st December 2020 amounted to RMB 687,241,965.
    In order to share the Company's operation achievements with all shareholders, as well as enabling the Company for further development in consideration of the Company's actual operation situations, the Company proposes that: based on the Company's total share capital on the registration date, the Company will distribute to all shareholders, cash dividend of RMB 1.76 yuan per 10 shares (inclusive of tax). The expected total amount of the cash dividends to be distributed is RMB 472,014,624 yuan. Total payout ratio of 2020 is 35%.
    If the total share capital of the Company changes before the date of registration, it is proposed to maintain the same distribution ratio per share and adjust the total amount of distribution accordingly. An announcement shall be released accordingly.

The above proposal is still subject to the approval of 2020 Annual General Shareholders' Meeting.

  1. Deliberation procedures performed by the Company
    1. Board of the Company
      On 30th March 2021, the 7th Board of Directors of the Company held the 14th meeting, deliberated and passed the proposal on 2020 Annual Plan of Dividends Distribution with 9 votes in favor, 0 objection, and 0 abstention. The board agreed to submit it to 2020 Annual General Shareholders' Meeting for further consideration.
    2. Independent directors' opinion
      The Company's 2020 Annual Plan of Dividends Distribution is consistent with the Company's actual situations, conforms to laws and rules. It does not prejudice the Company or the shareholders, especially the minority shareholders. Independent directors agree to submit this proposal to the shareholders' general meeting for deliberation.
    3. Board of Supervisors' opinion
      The Company's distribution of dividends complies with relevant laws, rules and Articles of Association, takes fully consideration of all shareholders' benefits and aligns with the Company's actual situations. There is no prejudice on the Company's and shareholders' benefits.
  1. Risk warning

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This profit distribution plan takes the Company's development and future capital requirements into account and will not have a significant impact on the Company's operating cash flow, nor will it affect the Company's normal operations and long-term development.

The above proposal is still subject to the approval of 2020 Annual General Shareholders' Meeting. Please be aware of the investment risks arising from that.

It is hereby announced.

Bluestar Adisseo Company

30th March 2021

(In case of discrepancies between the English version and the Chinese version of this announcement, the Chinese version, officially published and disclosed, shall prevail.)

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Disclaimer

Blue Star Adisseo Co. Ltd. published this content on 31 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 31 March 2021 06:07:02 UTC.