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

Apr 26, 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)

DISCLOSEABLE TRANSACTION(S)

Reference is made to the announcement of Hisense Kelon Electrical Holdings Company Limited (the “ Company ”) dated 23 March 2010 in relation to the Company’s proposed disposal of part of the Company’s shareholdings in Huayi Compressor Company Limited (“ Huayi Compressor ”) (stock code: 000404), a company incorporated in the People’s Republic of China and whose A shares are listed on the Shenzhen Stock Exchange, which principally engaged in the production and sale of fluorine-free compressors, refrigerators and their components. For the two years ended 31 December 2009, its net profits before taxation were about RMB89,783,519.03 and RMB199,856,931.51 respectively, its net profits after taxation were about RMB73,161,932.88 and RMB171,347,783.06 respectively. The Company did not receive any dividends for these two years in respect of approximately 1.21% A shares in Huayi Compressor disposed of by the Company. By way of equity accounting, Huayi Compressor recorded gains in investment totalling RMB4,750,000 and RMB15,960,000 respectively for the Company for the year ended 31 December 2008 and for the year ended 31 December 2009 in accordance with its shareholdings in Huayi Compressor. As at 31 December 2009, the book value of the assets which are the subject of this transaction is RMB7,640,000.

At its third extraordinary board meeting of 2010 held on 23 March 2010, the board of directors of the Company (the “ Board ”) resolved to authorise the management of the Company to dispose in tranches or on a one-off basis of not more than six million shares of Huayi Compressor held by the Company at a suitable time and within a reasonable price range.

This announcement is made by the Company in accordance with Rule 14.25 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “ Stock Exchange ”) as the Company had disposed of an aggregate of approximately 1.21 % of its shareholdings in the A shares of Huayi Compressor in a series of on-market transactions between 24 March 2010 and 26 April 2010 at an aggregate cash consideration of RMB39,630,000. The consideration for the disposal of the Company’s approximately 1.21% shares in Huayi Compressor was based on prevailing market prices of the shares of Huayi Compressor at the relevant times of the disposal.

As at the date of this announcement and upon disposal of an aggregate of approximately 6.64% of its total shareholding of 59,280,000 A shares in Huayi Compressor, the Company’s shareholding in Huayi Compressor has decreased from 18.26% to 17.05%.

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The proposed disposal of part of the Company’s shareholdings in Huayi Compressor, which is now no longer subject to the selling moratorium, aimed at better leveraging on the shares in Huayi Compressor held by the Company, and supplementing the Company’s need for cash flow during the course of its normal production and operational activities and at the same time to generate better returns for the Company. The directors of the Company believe that the terms of the transactions are fair and reasonable and in the interests of the shareholders as a whole.

Subject to the review and confirmation by the independent accountants, based on the consideration of RMB39,630,000 for the aggregate disposal of the Company’s 1.21% shares in Huayi Compressor, and the carrying value of the disposed shares of approximately RMB7,640,000 as at 31 December 2009, it is expected that the Company will record a net gain of approximately RMB 31,990,000 in the consolidated financial statements of the Company for the year ended 31 December 2010 as a result of the disposal of the 1.21% shares of Huayi Compressor held by the Company.

As each of the applicable percentage ratios of the disposal is 5% or more, but less than 25%, such a transaction is therefore only subject to the reporting and announcement requirements but exempt from the independent shareholders’ approval requirement under the Hong Kong Listing Rules.

Listing Rules requirements

During the process of disposing the Company’s shareholding in Huayi Compressor, the Company will strictly comply with the relevant provisions and requirements of Guiding Opinions on the Listed Companies’ Transfer of Original Shares Released from Trading Restrictions, the Rules Governing the Listing of Stocks on the Shenzhen Stock Exchange and the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, and timely comply with its obligations in information disclosure. Should there be matters that warrant the submission to the general meeting of the Company for consideration and approval under the provisions and requirements of the relevant rules during the process of the disposal, the Company will timely perform the corresponding procedures of consideration and approval.

Further announcement(s) will be made upon completion of the disposal of shares of up to six million shares in Huayi Compressor held by the Company or when any percentage ratio of a subsequent transaction or a series of subsequent transactions (aggregated under Rules 14.22 and 14.23 of the Listing Rules) which involves the disposal of the Company’s equity interests in Huayi Compressor constitutes a major transaction or a very substantial disposal under the Listing Rules.

Information for Shareholders

The Company, incorporated in the People’s Republic of China, is principally engaged in manufacture and sales of such as refrigerators, air-conditioners, freezers, and so on.

By order of the Board

Hisense Kelon Electrical Holdings Company Limited Tang Ye Guo Chairman

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Foshan City, Guangdong, the PRC, 26 April 2010

As at the date of this announcement, the Company’s directors 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 Company’s independent non-executive directors are Mr. Zhang Sheng Ping, Mr. Lu Qing and Mr. Cheung Yui Kai, Warren.

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