Subsidiary Dongguan Huake Electronics Board Resolves to Distribute Dividends
Original: 代子公司東莞華科電子有限公司公告董事會決議發放股利。
Summary
Walsin Technology (2492) is making this announcement on behalf of its PRC subsidiary, Dongguan Huake Electronics Co., Ltd., disclosing that the subsidiary's board of directors has passed a resolution to distribute dividends. For investors, dividend remittances from PRC entities to a Taiwanese parent are subject to Chinese withholding tax (typically 10%) and cross-border regulatory procedures, which can affect the timing and net amount of cash repatriation. Full body available on MOPS.
Full Translation
On behalf of its subsidiary Dongguan Huake Electronics Co., Ltd. (東莞華科電子有限公司), [Walsin Technology] announces that the subsidiary's board of directors has adopted a resolution to distribute dividends. — Dongguan Huake Electronics is a wholly or majority-owned operating entity incorporated in Dongguan, Guangdong Province, China (PRC). Under PRC regulations, dividend distributions by a foreign-invested enterprise to its overseas parent require completion of foreign-exchange registration procedures and are generally subject to a 10% withholding tax under the China-Taiwan cross-strait tax arrangement, unless a reduced rate applies. The resolution itself does not specify the dividend amount or payment date in this subject line. [Body not available — subject line only. See MOPS for full announcement.]