Dividend Policy

The Company has a policy to pay dividends to shareholders at no less than 40% of the net profit according to the consolidated financial statements of the Company after the deduction of corporate income tax and after the deduction of all types of reserves required by the law and Articles of Association of the Company each year. The dividend payment must not exceed the retained earnings from its separated financial statements. The Board of Directors will consider a dividend payout by considering various factors for the benefit of shareholders, such as economic conditions, operating results, and the Company’s financial position, cash flow, reserves for future investments, reserves for loan payments, or as working capital within the Company, conditions and limitations as specified in the loan contract. The dividend payment shall not have a significant impact on the normal operations of the Company as the Board of Directors deems appropriate.