Because according to:
After the enterprise stops implementing the public welfare fund system, if the employee bonus and welfare fund of a foreign-invested enterprise is decided by the board of directors to continue to be withdrawn, the purpose, conditions and procedures for its use shall be clearly defined as liability management.
(Notice of the Ministry of Finance on Financial Treatment of Enterprises after Implementation)
Article 76 The profit distribution principles of a joint venture after paying income tax according to the Income Tax Law of People's Republic of China (PRC) on Enterprises with Foreign Investment and Foreign Enterprises are as follows:
(1) Withdraw reserve fund, employee bonus and welfare fund and enterprise development fund, and the withdrawal ratio shall be determined by the board of directors;
Regulations of the People's Republic of China on the Implementation of the Law on Sino-foreign Joint Ventures
This involves the relationship between the Company Law and the relevant laws and administrative regulations of foreign-invested enterprises. See: Article 2 18 of the Company Law for the specific legal basis; Foreign Enterprises for Industry and Commerce [2006] No.8 1 andNo. 102.
The key is to see how the articles of association stipulate the distribution of profits. If it is still stipulated that three funds should be withdrawn, three funds will be withdrawn.