Profit Distribution. The net profits of the joint investment pool shall be distributed amongst shareholders and depositors according to their respective weightages in the invested funds. The Bank, as (Mudarib), shall be entitled to {90%} of the realized net profit of the depositors.
Profit Distribution. The parties agree that the profits of the Target Company, after deduction of the statutory distribution amount, shall be used by the Target Company for reinvestment or other purposes beneficial to the business and operation of the Target Company or distributed to each shareholder in proportion to the shares held by each shareholder as dividends in accordance with the resolutions of the Shareholders.
Profit Distribution. 13.6.1 After the Company has paid the enterprise income tax, the Board will determine the amount of the reserve fund, enterprise development fund and employee rewards and welfare fund (if applicable) withdrawn from the net profit after tax. The sum of these funds withdrawn annually shall be determined by the Board.
13.6.2 If the Company has an unrecovered loss carried forward from prior years, the net profit after tax for the current year shall first be used to make up for the carry-forward loss, and the profit distribution shall be made after completion of covering the loss. The profits retained by the Company and carried forward from the previous year to the current year may be distributed to the Parties together with the distributable profits for the current year or to the Parties after covering the loss for the current year.
Profit Distribution. (a) After paying taxes in accordance with the law and making contributions to the Three Funds, the remaining earnings of the Company shall be available for dividend distribution to the Parties. The General Manager shall recommend a dividend distribution plan to the Board of Directors within the first three (3) months following the end of each fiscal year of the Company for the Board’s consideration and approval or modification. In his or her recommendation, the General Manager shall consider that the Company has sufficient funds on hand to pay the dividends and meet its approved capital expenditure budget and working capital requirement for the current budget year. The Company shall not distribute dividends unless the losses of previous fiscal year(s) have been fully made up. Remaining undistributed dividend from previous years may be distributed together with that of the current year and the Board of Directors may authorize the payment of dividends from undistributed dividends from previous years at any time.
(b) Dividends shall be distributed to the Parties in proportion to each Party’s holding of the registered capital of the Company at the time of the distribution. Payment of dividend distributions to Party B shall be in United States Dollars. The rate of exchange for all Renminbi amounts that are required to be converted to United States Dollars for payment of such dividends shall be the rate announced by the People’s Bank of China for the conversion from Renminbi to United States Dollars on the date that dividends are declared.
Profit Distribution. If Huayong makes distribution of the undistributed profit over the years, Transferee can be allocated according to the equity ratio held by it.
Profit Distribution. (a) After paying taxes in accordance with the law, making up losses and making contributions to the statutory common reserve, the remaining earnings of the Company shall be available for dividend distribution to the Parties. The Parties hereby agree that as long as the Company has eighteen (18) months of working capital reserved that the Company shall distribute to the Parties the profits in that fiscal year above the amount required to maintain eighteen (18) months of working capital. Distributable profits shall be distributed to the Parties within thirty (30) days of a Board resolution stipulating the distribution of such distributable profits to the Parties. Each Party shall procure that its Directors shall vote in favour of a resolution of any Board member proposing the distribution of the profits as outlined in this paragraph to the Parties. Such profits shall be distributed to a Party according to such Party’s proportion of its paid-in registered capital at the time such profits were earned.
(b) The Company shall not distribute dividends unless the losses of previous fiscal year(s) have been fully made up. Remaining undistributed dividend from previous years must be distributed together with that of the current year and the Board of Directors shall authorise the payment of dividends from undistributed dividends from previous years at any time so long as the Company has eighteen (18) months of working capital reserved.
Profit Distribution. (1) The Issuer executes the dividend payment independently from the BEX Issuer Account in accordance with the Bylaws. BEX will support the Issuer with the dividend payment
Profit Distribution. (a) In each Financial Year, the JV Company shall set aside an amount as determined by the Board from its distributable after-tax profits for allocation to the funds required by PRC Laws. The funds shall be used in accordance with PRC Laws.
(b) Profits may not be distributed before any losses of previous years have been made up. Remaining undistributed profits from previous years may be distributed together with those of the current year.
Profit Distribution. 1. Party A shall charge at 0.10 yuan per message to the communication fees arising from Party A’s cell phone subscriber using the SMS service provided in this agreement. In principle, Party B shall decide the information service fees arising from subscriber’s use of the services hereunder, and submit to China Mobile for approval. Party A propose a price cap (price cap for entry payment shall be 2 yuan per message, and price cap for monthly payment shall be 30 yuan per month). Party B shall submit the specific price that is standard to the authority in charge of pricing, and timely notify Party A of the relevant charging standard.
2. Party A shall provide Party B with the service of billing and collection of information service fees. In each billing month, all the information service fees of subscribers in Beijing shall be the receivable information service fees of Beijing area. Party A shall pay Party B at 85% of the information service fee receivable in the Beijing area, and shall assume the risk of defaulting of subscribers in this area. If Party B is a network cooperative partner of Party A (Party B provides Monternet SMS value-added service to the nationwide subscribers of China Mobile), the information service fees of other provinces and municipalities shall be information service fees receivable by mobile telecom companies of such provinces and municipalities. Mobile telecom companies of other provinces and municipalities shall collect such information service fees, and allocate to Party A according to the settlement ratio provided herein (that is, 85% of the information service fees receivable of the local mobile telecom company), and Party A shall transfer to Party B all the information service fees received from mobile telecom companies of other provinces and municipalities.
3. With respect to the unbalanced communication fees of each month arising from the difference between the number of messages that Party B sends to nationwide subscribers (downlinking SMS) and messages that subscribers send to Party B (uplinking SMS), Party A shall charge to Party B at 0.05-0.10 yuan per message. For details, please see the following table: Below 100k 0.08 X*0.08, minimum 2000 Yuan 100k-300k 0.07 (X-100k)*0.07+100k*0.08 300k-1mm 0.06 (X-300k)*0.06+200k*0.07+100k*0.08 Above 1mm 0.05 (X-1mm)*0.05+700k*0.06+200k*0.07+100k*0.08
Profit Distribution. 17.1 The Company shall distribute its profit in accordance with the following priority sequence, after paying the income tax required by the PRC Enterprise Income Tax Law and its implementing rules as well as other applicable Law:
(1) to make up for the losses of the Company for the previous years;
(2) to make allocation to the statutory common reserve fund, enterprise development fund and statutory common welfare fund (“Three Funds”);
(3) to allocate the profits to the parties to this Contract based on their percentage of contribution to the Company. Any undistributed profits of the previous years may be allocated together with the profits for the current year. The amounts to be distributed shall be 50% or more than 50% of the after-tax distributable profit for the year.
17.2 The Company may, after having the after-tax distributable profits for the previous year audited, conduct profit distribution for more than one time each year. The general manager shall obtain the approval of the Board with respect to its profit distribution plan and the amount of profits to be distributed to each party, within six months following the end of each business year. In addition, the profit distribution shall be calculated in RMB, and upon Party B’s request, the Company shall covert the amount of profit distributed to Party B to Foreign Exchange and remit to Party B. All the expenses in connection with the remittance shall be borne by the Company. For purpose of the remittance hereunder, the conversion rate between the RMB and the given foreign currency shall be the base exchange rate published by the People’s Bank of China on the day immediately prior to the remittance.
