The Company may, by a resolution of the shareholders’ meeting, declare and pay annual dividends, except for interim dividends, which the Board of Directors of the Company itself may declare and pay the dividends from time to time when it appears that the Company retains reasonable profits as to justify the payment. For every time an interim dividend is paid, the Board of Directors shall report it to shareholders of the Company at the next general shareholders’ meeting.

The Company shall declare and pay dividends at the rate of not less than 40% of its consolidated net profits after deducting corporate income tax and any reserve as required by law and the Articles of Association of the Company, provided that the dividend payment shall not exceed the Company’s separate retained earnings.

The dividend payment and rates are subject to various factors, such as financial conditions, results of operations, cashflow, working capital, future investment plans and business expansion of the Company, as well as macro-economic conditions, legal requirements, debt obligations, conditions or restrictions imposed by financing agreements and other factors as deemed suitable and appropriate.