Gotion High-tech Launches its Profit Distribution Plan in 2023

PRESS RELEASE

Ad hoc announcement pursuant to article 53 LR

Gotion High-tech Launches the Profit Distribution Plan in 2023

Important Notice：

1. Distribution per share: Cash dividend of RMB 1.00 per ten shares (tax included).

2. The profit distribution will be based on the total share capital registered on the record date of the equity distribution after deducting the number of repurchased shares in the special securities account for repurchase. And the exact ex-dividend trading date and the payment date of this profit distribution will be specified in its implementation announcement.

3. In the period from the date of disclosure of this announcement to the record date of the equity distribution, if there is any change in the total share capital of the Company, or there is any change in the shares held in the Company’s repurchase special account due to some reasons, the Company intends to maintain the same amount of the distribution per share and adjust the total amount of the distribution accordingly, and will announce the specific adjustments separately.

I. Contents of the Profit Distribution Plan

As audited by Suya Jincheng Certified Public Accountants (Special General Partnership),  the net profit attributable to shareholders of the listed company was RMB 938.7268 million in 2023; as of December 31, 2023, the accumulated distributable profit on the consolidated and parent company statements was respectively RMB 4473.0018 million and RMB 200.5642 million( the detailed financial data are listed in the 2023 Annual Report disclosed at the official website). Based on factors such as the Company’s profitability in 2023, capital requirements for future development, industry conditions and shareholders’ return on investment, on the basis of paying attention to a reasonable return on investment for investors and taking into account the sustainable development of the Company, the Board of Directors of the Company puts forward the following proposal for the 2023 annual profit distribution plan:

The Company intends to distribute a cash dividend of RMB 1.00 (inclusive of tax) per ten shares to all shareholders on the basis of the total share capital registered on the date of registration of shareholdings for the implementation of the equity distribution, less the repurchased shares in the Company’s special securities account for repurchase, with no bonus shares to be distributed and no increase of capital from reserved fund. As of April 18, 2024, the total share capital of the Company is 1,785,717,757 shares, less the repurchased shares 18,834,168 shares in the Company’s special securities account for repurchase, which is calculated as the total proposed cash dividend of RMB 176,688,358.90 (including tax), accounting for 18.82% of the net profit attributable to shareholders of the listed company for the year 2023.

In the period from the date of disclosure of this announcement to the record date of the equity distribution, if there is any change in the total share capital of the Company, or there is any change in the shares held in the Company’s repurchase special account due to share repurchase, cancellation of the repurchased shares, or the completion of the non-trading transfer of the repurchased shares transferred to the Employee Stock Ownership Plan, the Company intends to maintain the same amount of the distribution per share and adjust the total amount of the distribution accordingly, and will announce the specific adjustments in a separate announcement.

The profit distribution plan has yet to be submitted to the General Meeting of Shareholders of Company for consideration.

II. Approval Procedures Performed by the Company

The Company held the 6^th Meeting of the 9^th Board of Directors and the 6^th Meeting of the 9^th Board of Supervisors, and considered and approved the proposal on the 2023Annual Profit Distribution Plan, and agreed that this proposal shall be submitted to the General Meeting of Shareholders of the Company for consideration.

III. Opinions of the Board of Supervisors

The Board of Supervisors is of the view that the 2023 Annual Profit Distribution Plan is in compliance with the relevant provisions of the “Regulatory Guidelines for the Listed Company No.3 - Cash Distribution of the Listed Companies” and the “Articles of Associations” of the Company. And this Profit Distribution Plan is based on the actual situations of the development stage and financial position of the Company, there is not any harm for the shareholders of the Company, especially the interests of medium and small shareholders, which is helpful for the long-term stable development of the Company and interests of the Shareholders.

IV. Related Risk Warning

The Profit Distribution Plan has taken into account these factors, such as the future capital requirements, cash flow position and continuous return to shareholders, and will not have a significant influence on the Company’s operating cash flow or affect the normal operations and long-term development of the Company. This Profit Distribution Plan is subject to the approval of the Company’s General Meeting of Shareholders, so investors are advised to pay attention to the investment risks.

Contact information

Mr. Rui Gao

Phone: +86 0551 62100213,

e-mail: gxgk@gotion.com.cn 

About Gotion

Gotion High-tech Co., Ltd., as the earliest private enterprise in power battery industry to enter the capital market in China, was listed on the Shenzhen Stock Exchange in May 2015, specializing in power battery for new energy vehicles, energy storage application, power transmission and distribution equipment, etc.

Gotion High-tech is a technology-based company focused on power battery technology research and development and innovation. It is one of the earliest enterprises engaged in the independent research and development, production and sales of new energy vehicle power lithium-ion batteries in China. Gotion High-tech has global operations and has carried out strategic cooperation with Volkswagen, Tata Group, Vinfast and Jinko, among others.

Disclaimers

This announcement may contain forward looking statements, estimates, opinions and projections with respect to anticipated future performance of the Company ("forward-looking statements"). These forward-looking statements can be identified by the use of forward-looking terminology, including the terms "believes," "estimates," "anticipates," "expects," "intends," "may," "will" or "should" or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. Forward-looking statements are based on the current views, expectations and assumptions of the management of the Company and involve significant known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in such statements. Forward-looking statements should not be read as guarantees of future performance or results and will not necessarily be accurate indications of whether or not such results will be achieved. Any forward-looking statements included herein only speak as at the date of this release. Gotion undertakes no obligation, and does not expect to publicly update, or publicly revise, any of the information, forward-looking statements or the conclusions contained herein or to reflect new events or circumstances or to correct any inaccuracies which may become apparent subsequent to the date hereof, whether as a result of new information, future events or otherwise. Gotion accepts no liability whatsoever in respect of the achievement of such forward-looking statements and assumptions.