2014 profit of Suzhou newway Valve Co., Ltd

The 2014 annual profit distribution implementation announcement of Suzhou Neway Valve Co., Ltd.

the 2014 annual profit distribution plan price of Suzhou Neway Valve Co., Ltd. (hereinafter referred to as "the company") has been reviewed and approved at the 2014 annual general meeting of shareholders held on May 21, 2015. The resolution announcement of the company's 2014 annual general meeting (provisional number) was published in Shanghai Securities News and the above on May 22, 2015

securities code: 603699 securities abbreviation: newway shares Announcement No.: Provisional

Suzhou newway Valve Co., Ltd.

2014 annual profit distribution implementation announcement

the board of directors and all directors of the company guarantee that the contents of this announcement are free from any false records, misleading statements or major omissions, And bear individual and joint liabilities for the authenticity, accuracy and integrity of its content

important content tips:

cash dividend per share: RMB 0.40 (including tax)

cash dividend per share (after tax): RMB 0.38 for natural person shareholders and securities investment funds, and RMB 0.36 for qualified foreign institutional investor (QFII) shareholders, Hong Kong stock exchange investors are 0.36 yuan

equity registration date: July 13, 2015 (Monday)

ex dividend date: July 14, 2015 (Tuesday)

cash dividend payment date: July 14, 2015 (Tuesday)

1 The session and date of the shareholders' meeting that adopted the profit distribution plan:

the 2014 annual profit distribution plan of Suzhou newway Valve Co., Ltd. (hereinafter referred to as "the company") has been reviewed and approved at the 2014 annual shareholders' meeting held on May 21, 2015. The resolution announcement of the company's 2014 annual general meeting (Provisional) was published in Shanghai Securities News and Shanghai Stock Exchange on May 22, 2015 ()

II. Profit distribution plan:

1. Profit distribution plan: Based on the total share capital of 750000000 shares on the equity registration date of July 13, 2015, when the company implemented dividend distribution, it was found that (3) for every 10 shares, a cash dividend of 4 yuan (including tax) was issued due to the heat resistance of wool tops, and a total of 300 million yuan (including tax) was distributed to all shareholders. The remaining undistributed profits are carried forward to the next year

2. According to the relevant national tax laws:

(1) for individual shareholders holding shares of the company (including securities investment funds), according to the relevant provisions of the notice on issues related to the implementation of differentiated individual income tax policies for dividends and bonuses of listed companies (CS [2012] No. 85) issued by the Ministry of finance, the State Administration of Taxation and the CSRC, the shareholding period is within 1 month (including 1 month), The full amount of its dividend income is included in the taxable income, and the actual tax burden is 20%; If the shareholding period is more than 1 month to 1 year (including 1 year), 50% of the taxable income will be included temporarily, and the actual tax burden is 10%; If the shareholding period exceeds 1 year, it shall be temporarily reduced by 25% and included in the taxable income, and the actual tax burden is 5%. According to the notice, when the company distributes cash dividends, it temporarily withholds and pays personal income tax at the tax rate of 5%, and the actual cash dividend per share is 0.38 yuan. When it transfers its shares, China Securities Depository and Clearing Corporation Limited Shanghai Branch (hereinafter referred to as "zhongdeng Shanghai Branch") will calculate the actual tax payable according to the shareholders' shareholding period. The part exceeding the withheld tax will be deducted from the personal capital account and transferred to zhongdeng Shanghai branch by the securities company and other share custody institutions, and zhongdeng Shanghai Branch will transfer it to the company within the next month, The company shall declare and pay the tax to the competent tax authority within the statutory declaration period of the month in which the tax is received

(2) for qualified foreign institutional investors ("QFII"), the company withheld and remitted enterprise income tax at the rate of 10% in accordance with the notice of the State Administration of Taxation on issues related to the withholding and withholding of enterprise income tax by Chinese resident enterprises paying dividends, bonuses and interests to QFII (Guo Shui Han [2009] No. 47), and the actual cash dividend after deduction was 0.36 yuan per share. If the relevant shareholders believe that the dividends and bonus income they obtain need to enjoy the treatment of tax treaties (arrangements), they can apply to the competent tax authorities after obtaining dividends and bonuses in accordance with the regulations

(3) for investors (including enterprises and individuals) from the Hong Kong stock exchange to invest in A-share shares of the company ("Shanghai Stock connect"), the cash dividends will be distributed in RMB by the company through zhongdeng Shanghai branch according to the account of the nominal holder of the shares, and the tax deduction will be implemented in accordance with the notice of the Ministry of finance, the State Administration of Taxation and the CSRC on the tax policies related to the pilot of the Shanghai Hong Kong stock market trading interconnection mechanism (CS [2014] No. 81), The income tax is withheld at the tax rate of 10%, and the actual cash dividend per share is 0.36 yuan after tax

(4) for other institutional investors and corporate shareholders, the company will not withhold and remit corporate income tax, and the taxpayer will decide whether to pay corporate income tax locally according to the tax law, and the actual cash distribution per share is RMB 0.40 (including tax)

III. specific implementation date

equity registration date: July 13, 2015 (Monday)

ex dividend date: July 14, 2015 (Tuesday)

cash dividend distribution date: July 14, 2015 (Tuesday)

IV. distribution object

after the closing of the Shanghai Stock Exchange on the afternoon of July 13, 2015, "all shareholders of the company registered in the Shanghai Branch of China Securities Depository and Clearing Corporation Limited

v. distribution implementation method

1. The cash dividends of Suzhou Zhenghe Investment Co., Ltd., Tongtai (Hong Kong) Co., Ltd., the shareholders of tradable shares with limited sales conditions, and Suzhou newway Valve Co., Ltd., the shareholders of tradable shares with unlimited sales conditions - phase I employee stock ownership plan are directly distributed by the company

2. In addition to the above shareholders, the cash dividends of other non tradable shares are entrusted to China Securities Depository and Clearing Corporation Limited, Shanghai Branch, which accounts for 68% of the global output, to be distributed through its capital clearing system to shareholders registered on the equity registration date and who have handled designated transactions in the member units of the Shanghai Stock Exchange. Investors who have handled designated transactions can receive cash dividends at their designated securities business department on the dividend distribution day. Shareholders' dividends that have not handled designated transactions are temporarily kept by China Securities Depository and Clearing Corporation Limited Shanghai branch and will be distributed after handling designated transactions

VI. consultation contact method

consultation address: Securities Department of the company, No. 666, Taishan Road, high tech Zone, Suzhou, Jiangsu Province

:0512 -

Fax: 0512 -

postal code: 215129

VII. Documents for reference

resolutions of the company's 2014 annual general meeting of shareholders

it is hereby announced

board of directors of Suzhou Neway Valve Co., Ltd