Securities code: Bank Of Shanghai Co.Ltd(601229) securities abbreviation: Bank Of Shanghai Co.Ltd(601229) Announcement No.: pro 2022018 preferred stock code: 360029 preferred stock abbreviation: Shanghai Yinyou 1 convertible bond Code: 113042 convertible bond abbreviation: Shanghai Yinyou convertible bond Bank Of Shanghai Co.Ltd(601229)
Announcement of profit distribution plan in 2021
Bank Of Shanghai Co.Ltd(601229) (hereinafter referred to as “the company”) the board of directors and all directors guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear individual and joint liabilities for the authenticity, accuracy and completeness of its contents.
Important content tips:
● distribution ratio: cash dividend of RMB 4.00 (including tax) for every 10 ordinary shares.
● the profit distribution is based on the total share capital of the company’s common shares registered on the equity registration date when the equity distribution is implemented at that time. The specific equity registration date will be specified in the equity distribution implementation announcement.
● the profit distribution plan needs to be submitted to the general meeting of shareholders for deliberation and approval.
1、 Contents of profit distribution plan
According to the audited financial statements of the bank prepared in accordance with the Chinese accounting standards for business enterprises, the company realized a net profit of 21922092000 yuan in 2021. After deducting the preferred stock dividend of 1040000 yuan (including tax, which was paid on December 20, 2021), the annual profit available for distribution to ordinary shareholders was 20882092000 yuan. The profit distribution plan for 2021 is as follows:
1. Withdraw the statutory surplus reserve at 10% of the after tax profit, totaling 2192209000 yuan;
2. According to the provisions of the measures for the administration of reserve provision of financial enterprises (CJ [2012] No. 20) of the Ministry of finance, the general reserve is withdrawn, amounting to 300000 yuan, and the balance of the general reserve after withdrawal reaches 37330000 yuan;
3. The discretionary surplus reserve is withdrawn at 20% of the after tax profit, totaling 4384418000 yuan;
4. Based on the total share capital of ordinary shares on the date of equity distribution and equity registration at that time, cash dividends of RMB 4.00 (including tax) will be distributed to all ordinary shareholders registered for every 10 shares; The remaining undistributed profits are carried forward to the next year.
The profit distribution plan needs to be submitted to the general meeting of shareholders for deliberation and approval.
2、 Description of cash dividend ratio less than 30% in this year
During the reporting period, the net profit attributable to the common shareholders of the parent company in the consolidated statements of the company was 21 Changgao Electric Group Co.Ltd(002452) 000 yuan. Based on the total share capital of 14206637093 common shares by the end of 2021, it is proposed to distribute 568265484 thousand yuan of common stock cash dividends, accounting for 27.06% of the net profit attributable to the common shareholders of the parent company in the consolidated statements of the year. It is mainly based on the following considerations: first, the financial supervision department continued to strengthen macro prudential supervision. In 2021, it issued the additional supervision provisions on systemically important banks (for Trial Implementation), which put forward stricter capital supervision requirements for commercial banks; Second, the company is accelerating the transformation and development. The retained undistributed profits are mainly used to promote the implementation of transformation strategy and development plan, optimize and adjust business structure, continuously enhance risk resilience, improve the quality and efficiency of serving the real economy, and support the long-term sustainable development of the company; Third, on the premise that the profitability and capital adequacy ratio meet the requirements of the company’s sustainable operation and long-term development, take into account the requirements of investors to share the company’s operating and development achievements and obtain reasonable investment return, provide shareholders with sustainable, stable and reasonable investment return, and maintain a stable and sustainable dividend policy.
3、 Decision making procedures performed by the company
(I) convening, deliberation and voting of the board meeting
At the 13th meeting of the 6th board of directors held on April 21, 2022, the company deliberated and approved the proposal on the profit distribution plan for 2021 and agreed to submit the profit distribution plan for 2021 to the general meeting of shareholders for deliberation.
(II) opinions of independent directors
All independent directors of the company believe that the profit distribution plan for 2021 complies with the provisions of relevant laws and regulations on profit distribution, such as the notice on further implementing matters related to cash dividends of listed companies, the guidelines for the supervision of listed companies No. 3 – cash dividends of listed companies (revised in 2022) and the provisions of Bank Of Shanghai Co.Ltd(601229) articles of association, and maintains a steady and sustainable dividend policy, Meeting the requirements of the company’s sustainable operation and long-term development, taking into account the requirements of investors to share the company’s operating results and obtain reasonable investment return, the company agreed to the profit distribution plan for 2021 and agreed to submit it to the general meeting of shareholders for deliberation.
(III) opinions of the board of supervisors
The board of supervisors of the company believes that the profit distribution plan for 2021 meets the regulatory requirements of the regulatory authorities for cash dividends and sufficient capital. At the same time, taking into account the sustainable development of the company and the return on investment of shareholders, the formulation procedures comply with the provisions of the articles of Association, and agrees to submit the profit distribution plan for 2021 to the general meeting of shareholders for deliberation. 4、 Relevant risks suggest that this profit distribution plan needs to be submitted to the 2021 annual general meeting of shareholders of the company for deliberation and approval. It is hereby announced.
Bank Of Shanghai Co.Ltd(601229) board of directors April 22, 2022
