PAYMENT OF THE FINAL DIVIDENDS

2.           Mainland investors investing in the H shares of the Company via the Shanghai-Hong Kong Stock Connect or Shenzhen-Hong Kong Stock Connect

Dividends payable to mainland investors who invest in the H shares of the Company via the Shanghai-Hong Kong Stock Connect or Shenzhen-Hong Kong Stock Connect will be paid in Renminbi by China Securities Depository and Clearing Corporation Limited (the "CSDC") as entrusted by the Company. The Company will pay the 2019 Final Dividends to CSDC on 16 July 2020 for distribution thereafter.

3.         Holders of A shares of the Company

Dividends payable to the holders of A shares of the Company shall be paid in Renminbi. The   2019 Final Dividends will be paid on 16 July 2020 to holders of A shares of the Company registered with the Shanghai Branch of CSDC after the close of trading hours of the Shanghai  Stock Exchange in the afternoon on 15 July 2020.

TAXATION ON THE FINAL DIVIDENDS

In accordance with the "Enterprise Income Tax Law of the People' s Republic of China" 《(  中華人民共和國企業所得稅法》) and the "Rules for the Implementation of the Enterprise Income Tax Law of the People's Republic of China" 《(  中華人民共和國企業所得稅法實施條例》), both implemented on 1 January 2008 and the "Notice of the State Administration of Taxation on Issues Relevant to the Withholding  of  Enterprise  Income  Tax  on  Dividends  Paid  by  PRC  Enterprises  to  Offshore  Non-resident Enterprise Holders of H Shares" (Guo Shui Han [2008] No. 897) 《(  關於中國居民企業向境外H股非居民企業股東派發股息代扣代繳企業所得稅有關問題的通知》 (國稅函[2008]897號)) promulgated on 6 November 2008, the Company is obliged to withhold  and  pay  PRC  enterprise  income tax on behalf of non-resident enterprise shareholders at a tax rate of 10% from 2008 onwards when the Company distributes any dividends to non-resident enterprise shareholders whose  names appear  on  the  register  of  members  of  H  shares  of  the  Company.  As  such,  any  H  shares  of  the Company which are not registered in the name(s) of  individual  shareholder(s)  (which,  for  this  purpose, includes shares registered in the name of HKSCC Nominees  Limited,  other  nominees,  trustees, or other organisations or groups) shall be deemed to be H shares held by  non-resident  enterprise shareholder(s), and the PRC enterprise income tax shall be withheld from any dividends payable thereon. Non-resident enterprise shareholders may wish to apply for a tax refund (if any) in accordance with the relevant requirements, such as  tax agreements  (arrangements),  upon  receipt of any dividends.

In accordance with the "Circular on Certain Issues Concerning the Policies of Individual Income Tax" (Cai Shui Zi [1994] No. 020) 《( 關於個人所得稅若干政策問題的通知》(財稅字[1994]020號)) promulgated by the Ministry of Finance and the State Administration  of Taxation on 13 May 1994, overseas individuals  are,  as an interim measure, exempted from the PRC individual income  tax  for  dividends  or bonuses  received from foreign-invested enterprises. As the Company is a foreign invested enterprise, the Company will not withhold and pay the individual income tax on behalf of individual shareholders when  the  Company distributes the 2019 Final Dividends to individual shareholders whose names appear on the register  of  members of H shares of the Company.

Pursuant to the "Circular on Tax Policies Concerning the Pilot Programme of the Shanghai and Hong Kong Stock Market Trading Interconnection Mechanism" (Cai Shui [2014] No. 81) 《(  關 於 滬 港 股 票市場交易互聯互通機制試點有關稅收政策的通知》(財稅[2014]81號))  promulgated  on  31  October 2014 and the "Circular on Tax Policies Concerning the Pilot Programme of the Shenzhen and Hong Kong Stock Market Trading Interconnection Mechanism" (Cai Shui [2016] No. 127) 《(  關於深港股票 市場交易互聯互通機制試點有關稅收政策的通知》 (財稅[2016]127號)) promulgated on 5 November 2016:

•           For mainland individual investors who invest in the H shares of the Company via the Shanghai- Hong Kong Stock Connect or Shenzhen-Hong Kong Stock Connect, the Company will withhold individual income tax at the rate of 20% in the distribution of the 2019 Final Dividends. Where individual investors have already paid foreign withholding taxes for such income, investors may apply to the competent tax authorities of CSDC for tax credit with valid tax withholding  certificates. For mainland securities investment funds that invest in  the  H  shares  of  the Company via the Shanghai-Hong Kong Stock Connect or Shenzhen-Hong Kong Stock Connect,  the Company will withhold individual income tax in the  distribution  of  the  2019  Final  Dividends pursuant to the foregoing provisions; and

•            For mainland corporate investors that invest in the H shares of the Company via the Shanghai- Hong Kong Stock Connect or Shenzhen-Hong Kong Stock Connect, the Company will not  withhold the income tax in the distribution of the 2019 Final Dividends and  the  mainland  corporate investors shall file the tax returns on their own.