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Taiwan Stock Exchange Corporation Articles of Incorporation  CH

Amended Date: 2023.07.13 
Categories: Basic Laws and Regulations
   Chapter 7 Accounting
Article 32    The Corporation adopts a fiscal year ending end of July on a six-month basis or ending end of December on a full-year basis.
Article 33    At the end of a fiscal year, the Board shall prepare the following reports and statements to be reviewed by the supervisors before they will be submitted to the regular shareholders' meeting for recognition:
  1. Business report;
  2. Financial statements; and
  3. Proposal for allocation of profits or compensation of losses.
    The reports and statements in the preceding paragraph shall be submitted to the competent authority and published in accordance with law.
Article 34    If the Corporation has gained profits within a fiscal year, 1% and 12% of the profits shall be reserved as the employees' compensation. However, in case of the accumulated losses, certain profits shall first be reserved to cover them.
     The reserve ratio determined for the employees' compensation of the current year shall be resolved with a consent of a majority of the directors present at a meeting attended by more than two thirds of the total directors and reported to the shareholder's meeting by the Board.
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Article 34-1    At the end of fiscal year, the Corporation shall first compensate the accumulated losses with profits after tax, before contributing 10% of the remaining net profits as legal reserve as well as a certain percentage of the remaining net profits as special reserve determined by the competent authority in accordance with the Regulations Governing Stock Exchanges; further plans to allocate the remaining profits after tax, together with the retained net profits earlier at the beginning of the fiscal period and the remaining net profits of the current year shall be proposed and submitted by the Board to the shareholder's meeting for its resolution.
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Article 35    The Corporation shall make the allocations of earnings upon resolution at the shareholders' meeting. The stock dividends of the Corporation shall be distributed based on the shareholders' register on the distribution date as set forth in accordance with Paragraph 2, Article 165 of the Company Act.
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Article 35-1    While planning the budget for the next year during every fiscal year, 3% to 5% of the Corporation's profits after tax of the previous year shall be reserved for donation or to support social welfare programs; reserve ratio shall be determined by a resolution of the Board.
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