The Company’s Board of Directors (the “Board”) may consider making an annual dividend payment provided that such dividend payment must be approved at a shareholders’ meeting. This does not include interim dividend payments, which the Board, from time to time, has a right to approve if it views that the Company has sufficient profits to be allocated to its shareholders. In this regard, the Board must report such payments to shareholders for acknowledgement at the next shareholders’ meeting.

The Company will make dividend payments at a rate of not less than 40% of net profits after deduction of all taxes and legal reserves. The Board will consider paying dividends after taking into account shareholders’ interests. These considerations include reservation of funds for future investment, repayment of loans or for the Company’s working capital.