JIANGLING MOTORS CORPORATION, LTD. Share's code： | 000550 | Share's Name： | Jiangling Motors | No.： | 2015-034 |
200550 | Jiangling B |
Note: Jiangling Motors Corporation, Ltd. and its Board members undertake that the information disclosed herein is truthful, accurate and complete and does not contain false statements, misrepresentations or major omissions.
The proposal on dividend distribution of Jiangling Motors Corporation, Ltd. (hereinafter referred to as 'JMC' or the 'Company') for the year 2014 was approved at the Company's 2014 Annual Shareholders' Meeting held on June 25, 2015. Matters related to the implementation of the proposal are announced as follows:
I. Proposal on Dividend Distribution
Based on the Company's total share capital of 863,214,000 shares, a cash dividend of RMB 9.7 (including tax) per 10 shares is to be distributed to shareholders.
The cash dividends on B shares shall be paid in Hong Kong Dollars converted at HKD 1.00 = RMB 0.7887, 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, 2015) immediately after the relevant resolutions were passed at the Company's Shareholders' Meeting.
II. Income Tax for Cash Dividends
The individual shareholders and investment funds holding the Company's A shares, and the domestic individual shareholders holding the Company's B shares will receive an after-tax cash dividend of RMB 9.215 per 10 shares at income tax rate of 5% temporarily. When the JMC shareholders transfer his/her JMC shares, China Securities Depository and Clearing Corporation Limited will calculate the actual tax payable based on shareholders' shareholding period and withhold extra tax payment than the withheld, which will be paid by the Company on his/her behalf, in accordance with the Notice on Implementing Differential Income Tax Policy on Listed Companies' Dividends (No. Caishui[2012]85) promulgated jointly by Ministry of Finance, State Administration of Taxation and China Securities Regulatory Commission. 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 1.455 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 0.485 per 10 shares; regarding the shareholder period over one year, there is no extra tax payment.
The qualified foreign institutional investors holding the Company's A shares will receive an after-tax cash dividend of RMB 8.73 per 10 shares at income tax rate of 10%. For residential enterprises holding the Company's A shares, the Company will not withhold nor pay the income tax on their behalf, and the taxpayer shall pay the tax in the place where the income is received.
Non-resident enterprises holding the Company's B share will receive an after-tax cash dividend of RMB 8.73 per 10 shares; for foreign individual shareholders, the Company will not withhold nor pay the income tax on their behalf.
The extra tax payment paid by the domestic individual shareholders holding the Company's B shares in future will be converted at the aforesaid exchange rate of HKD 1.00 = RMB 0.7887.
The shareholders can login to China Securities Depository and Clearing Corporation Limited'sofficial website (www.chinaclear.com.cn) to query their shareholding period and shareholding change record concerning income tax for dividends, after achieving web service identity authentication. The shareholders also can dial the hotline numbered 4008-058-058 to inquire the questions concerning income tax policy for dividends.
III. Equity Record Date and Ex-dividend Date
1. Equity record date for A shares: July 22, 2015;
Ex-dividend date: July 23, 2015.
2. Last trading date for B shares: July 22, 2015;
Ex-dividend date: July 23, 2015;
Equity record date for B shares: July 27, 2015.
IV. Beneficiaries
1. All the A-share holders of the Company who have registered with China Securities Depository and Clearing Corporation, Ltd., Shenzhen Branch, as of the afternoon closing of Shenzhen Stock Exchange on July 22, 2015.
2. All the B-share holders of the Company who have registered with China Securities Depository and Clearing Corporation, Ltd., Shenzhen Branch, as of the afternoon closing of Shenzhen Stock Exchange on July 27, 2015 (the last trading date is July 22, 2015).
V. Distribution Methods
1. Cash dividends for A-share holders, which the Company authorizes China Securities Depository and Clearing Corporation, Ltd., Shenzhen Branch to distribute, will be remitted directly to the shareholders' accounts through their authorized brokers on July 23, 2015.
2. Cash dividends for B-share holders, which the Company authorizes China Securities Depository and Clearing Corporation, Ltd., Shenzhen Branch to distribute, will be remitted directly to the shareholders' accounts through their authorized brokers or custodian banks on July 27, 2015. If a B-share holder changes his/her custodian on July 27, 2015, he/she shall still receive the dividend from the former custodian.
3. The Company will remit the cash dividends for Jiangling Motor Holding Co., Ltd. and the shareholders holding restrictedly tradable shares.
VI. The total share capital of the Company will remain unchanged after the dividend distribution.
VII. Other Explanation
If a qualified foreign institutional investor or a non-residential enterprise who holds the Company's B shares enjoys special taxation arrangement, the Company will handle income taxes per the relevant regulations concerning executive of special taxation arrangement.
VIII. Consulting Institute: Securities Department, Jiangling Motors Corporation, Ltd.
Address: No.509, Northern Yingbin Avenue, Nanchang City, JiangxiProvince
Tel: 0791-85266178
Fax: 0791-85232839
Contact person: Quan Shi, Gong Hui
The announcement is hereby published.
Board of Directors
Jiangling Motors Corporation, Ltd.
July 16, 2015
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