Medlive Technology Co., Ltd. — Capital/Financing Update 2010

May 24, 2010

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

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HISENSE KELON ELECTRICAL HOLDINGS COMPANY LIMITED 海信科龍電器股份有限公司

(A joint stock limited company incorporated in the People’s Republic of China with limited liability)

(Stock Code: 00921)

ANNOUNCEMENT

This announcement is made pursuant to Rule 13.09(1) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

Reference is made to the announcements of the Company dated 16 July 2009 and 26 March 2010, and the circular of the Company (the “ Circular ”) dated 31 July 2009 in relation to the acquisition of the Target Group from Qingdao Hisense Air-Conditioning Company Limited and the application for Whitewash Waiver. Unless defined otherwise, capitalized terms used in this announcement shall have the same meaning as those used in the Circular.

On 26 March 2010, Hisense Kelon Electrical Holdings Company Limited (hereinafter referred to as the “Company”) received from the CSRC the Letter of Reply Concerning the Approval for the Major Asset Restructuring of Hisense Kelon Electrical Holdings Company Limited and the Acquisition of Assets through Issuance of Shares to Qingdao Hisense Air-Conditioning Company Limited (Zheng Jian Xu Ke [2010] No. 329) and the Letter of Reply Concerning the Approval for the Announcement by Qingdao Hisense Air-Conditioning Company Limited of the

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Acquisition Report of Hisense Kelon Electrical Holdings Company Limited and the Waiver of its General Offer Obligation (Zheng Jian Xu Ke [2010] No. 330). The CSRC approved the Company to issue 362,048,187 A shares of RMB1 each to Qingdao Hisense Air-conditioning Company Limited, a substantial shareholder of the Company, as consideration for the acquisition of the relevant assets, and approved the waiver of Qingdao Hisense Air-conditioning Company Limited’s relevant general offer obligation.

As at 28 April 2010, the procedures for the change of business registration of the subject assets under the major asset restructuring have been completed. On 19 May 2010, BDO China Li Xin Da Hua CPA Co., Ltd. issued the Capital Verification Report Li Xin Da Hua Yan Zi [2010] No. 039. Pursuant to the capital verification report, as at 19 May 2010, the Company received the additional registered capital (share capital) of RMB362,048,187, fully contributed by Qingdao Hisense Air-Conditioning Company Limited by way of the subject assets.

The Company is proceeding with the follow-up works including the listing of new shares to be issued under the restructuring and the relevant registration and filing in relation to the change in the share capital of the Company in accordance with the relevant requirements. Further announcement will be made once the completion of the Acquistion takes place.

By Order of the Board of

Hisense Kelon Electrical Holdings Company Limited

Tang Ye Guo

Chairman

Foshan City, Guangdong, the PRC, 24 May 2010

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As at the date of this announcement, the executive directors of the Company are Mr. Tang Ye Guo, Mr. Zhou Xiao Tian, Ms.Yu Shu Min, Mr. Lin Lan, Ms. Liu Chun Xin and Mr. Zhang Ming; and the independent non-executive directors are Mr. Zhang Sheng Ping, Mr. Lu Qing and Mr. Cheung Yui Kai, Warren.

The Directors jointly and severally accept full responsibility for the accuracy of the information contained in this announcement and confirm, having made all reasonable enquiries, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any statement in this announcement misleading.

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