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(a joint stock company incorporated in the People's Republic of China with limited liability)
(Stock Code: 1133)
PROPOSED DISTRIBUTION OF SPECIAL DIVIDEND
PROPOSED DISTRIBUTION OF SPECIAL DIVIDEND
The Board of Directors (the "Board") of Harbin Electric Company Limited (the "Company") hereby announces that on 24 March 2021, the Board proposed the distribution of special dividend of the Company of RMB0.011 per share (tax inclusive). The total amount of dividend payment is RMB18.7718 million. The dividend for H shareholders shall be paid in Hong Kong dollars and the exchange rate will be the market rate of RMB to Hong Kong dollars as announced by the People's Bank of China five days prior to 24 March 2021 (RMB1 = HK$1.1941). H shareholders are entitled to a dividend of HK$0.0131 per share.
The proposed distribution of special dividend is subject to the approval at the annual general meeting of the Company.
EXPLANATION ON THE PROPOSED DISTRIBUTION OF SPECIAL DIVIDEND
Without prejudice to the healthy and sustained development of the Company, in order to offer a better return for investors, the Board proposed the recommendation of the distribution of special dividend.
The Board proposed to distribute a special dividend of the Company of RMB0.011 per share (tax inclusive) based on the total share capital of the Company of 1,706,523,000 shares, representing 10.58% of the total earnings of RMB0.104 per share of the Company in 2018 and 2019.
CLOSURE OF REGISTER
The Special dividend will be distributed on Thursday, 24 June 2021. The register of members of the Company will be closed from Friday, 18 June 2021 to Thursday, 24 June 2021 (both dates inclusive), during which period no transfer of shares will be registered. Shareholders whose names appear on the register of members of the Company as at Friday, 18 June 2021 are qualified for the special dividend. In order to be qualified for the special dividend, all duly completed transfers of shares together with the relevant share certificates must be lodged with Hong Kong Registrars Limited, the Company's share registrar in Hong Kong, at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen's Road East, Wan Chai, Hong Kong not later than 4:30 p.m. on Thursday, 17 June 2021.
GENERAL
A circular containing, among other things, the details of the proposed distribution of special dividend and a notice of the annual general meeting will be dispatched to the shareholders in due course.
By Order of the Board Harbin Electric Company Limited
Chairman
Si Ze-fu
Harbin, PRC
24 March 2021
As at the date of this announcement, the executive directors of the Company are Mr. Si Ze-fu, Mr. Wu Wei-zhang and Mr. Sun Zhi-yong; and the independent non-executive directors of the Company are Mr. He Yu, Mr. Hu Jian-min, Mr. Chen Guo-qing and Mr. Tang Zhi-hong.