Jiangling Motors Corporation, Ltd.
                  Year 2023-2025 Shareholder Return Plan

In accordance with the requirements of Listed Company Supervision Guideline
No.3——Cash Dividend Distribution promulgated by CSRC, the Board of
Directors of Jiangling Motors Corporation, Ltd. (hereinafter referred to as “JMC”
or the “Company”) formulates JMC Year 2023-2025 Shareholder Return Plan
(hereinafter referred to as “the Plan”), to improve and achieve a scientific,
sustainable, stableand transparent profit distribution policy and supervision
mechanism. Details of the Plan are as follows:

I. Considerations in the Formulation of the Plan
JMC is aiming at long-term and sustainable development, and will build up a
scientific, sustainable, and stable profit distribution policy and supervision
mechanism for all investors, in consideration of JMC’s actual situation,
developing target, wishes and requirements of the shareholders, outside
financing cost and environment, so as to maximize the investment return of the
shareholders and keep the continuity and stability of the Company’s profit
distribution policy.

II. Principles
JMC shall carefully listen to the opinions from the shareholders, (esp. medium
and small shareholders) and Independent Directors, upon the satisfaction of
the capital needs for the Company’s operations and its long term development,
JMC will distribute profits in the forms of cash, stock, combination of cash and
stock, or other ways as allowed by the laws, and will give priority to cash
dividend in its profit distribution. The accumulative profits distributed in cash
within three years shall be no less than 30% of the average annual
distributable profits achieved over the past three years. The Company may
distribute stock dividend if it is conducive to the long term development of the
Company and shareholders’ interests in terms of capital scale and
shareholding structure.

III. Year 2023-2025 Shareholder Return Plan
During 2023-2025, JMC will give priority to cash dividend and keep the
continuity and stability of profit distribution policy. Upon satisfaction of capital
needs for the Company’s routine operations and its long term development,
and if both the profit achieved in the current year and accumulated retained
earnings are positive, the Company can distribute cash dividend. Cash
dividend distributed every year shall be no less than 10% of distributable
profits achieved in the current year; the accumulative profits distributed in cash
within three years shall be no less than 30% of the average annual
distributable profits achieved over the past three years. The Company may
also distribute stock dividend when the cash dividend requirement is met.
                                         1
The Board puts forward the proposal on the Company’s annual profit
distribution after a fiscal year is finished and submits the proposal to
Shareholders’ Meeting for approval. The Board can also put forward interim or
supplemental profit distribution proposals in accordance with the requirements
of laws, regulations and the Articles of Association of the Company.

IV. Formulating the cycle and decision-making mechanism for the
      Shareholder Return Plan
i. The Company will review the Shareholder Return Plan (for the next 3 years)
    every three years.
ii. The Board will formulate the Shareholder Return Plan (for the next 3 years)
    in consideration of profit, cash flow, development phase, current capital.
    Independent Directors shall express their opinions on the Plan. Proposal on
    the Shareholders’ Return Plan will be submitted to the Shareholders’
    Meeting for final approval.

V. The Plan herein shall enter into effect as of the date of being approved by
   the Shareholders’ Meeting.

Board of Directors
Jiangling Motors Corporation, Ltd.
May 24, 2023




                                       2