Alto Electronics announced last year's profit distribution plan to distribute 3 yuan for every 10 shares

On March 26, 2012, Wu Hanqu, Chairman of Alto Electronics (002587.SZ) submitted a proposal and commitment letter for the 2011 profit distribution and capital reserve to share capital plan to the company's board of directors, with the company's total as of December 31, 2011. Based on the equity of 84 million shares, all shareholders will receive a dividend of 3.00 yuan (including tax) for every 10 shares of cash, totaling 25.2 million yuan. At the same time, the capital reserve will be transferred to all shareholders for 3 shares for every 10 shares, and the total share capital will be increased by 25.2 million shares. After the transfer of share capital, the company's total share capital increased to 109.2 million shares.

The profit distribution and capital reserve fund transfer plan is only the proposal of Mr. Wu Hanqu. It is still subject to the approval of the company's board of directors and the 2011 annual general meeting to determine the final 2011 profit distribution and capital reserve fund transfer plan.

Alto's 2011 annual performance report showed that during the reporting period, the operating income was RMB 23,004.78 million, an increase of 3.64% over the same period of the previous year. The operating profit was RMB 34,471,000, a decrease of 34.72% over the same period of the previous year. The net profit of shareholders was RMB 3,360,870, a decrease of 30.37% over the same period of the previous year.

According to the company, domestic orders were lagging behind expectations during the reporting period. Although contracts have been signed, they need to be implemented across the years, so that domestic revenues have not reached the expected targets. At the same time, the company's foreign customers are mainly distributed in Europe and Japan. Due to the European debt crisis and the Japanese earthquake, foreign revenues did not reach the expected target. The above reasons made the annual operating income increase less.

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