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Medlive Technology Co., Ltd. — Capital/Financing Update 2024
Sep 5, 2024
50436_rns_2024-09-05_80e854d5-3997-47f3-b595-49bae850aa06.pdf
Capital/Financing Update
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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 HOME APPLIANCES GROUP CO., LTD. 海信家電集團股份有限公司
(A joint stock limited company incorporated in the People’s Republic of China with limited liability) (Stock Code: 00921)
DISCLOSEABLE TRANSACTIONS
SUBSCRIPTION OF WEALTH MANAGEMENT PRODUCTS
The Board announces that, during the period from 16 November 2023 to 5 September 2024, Refrigerator Marketing Company, wholly owned subsidiary of the Company, as subscriber, entered into the Chongqing Trust Wealth Management Agreements to subscribe for the Chongqing Trust Wealth Management Products in an aggregate subscription amount of RMB1,659,844,906.22 (equivalent to approximately HK$1,822,908,600 [Note 1] ).
The Group utilised its idle funds for the payment of the subscription amount under each of the Chongqing Trust Wealth Management Agreements.
Each of the Chongqing Trust Wealth Management Agreements by itself does not constitute a discloseable transaction of the Company under Rule 14.06 of the Listing Rules. However, pursuant to Rule 14.22 of the Listing Rules, when the subscription amounts under the Chongqing Trust Wealth Management Agreements are aggregated, the relevant applicable percentage ratios (as defined under the Listing Rules) exceed 5% but are below than 25%. Therefore, the transactions under the Chongqing Trust Wealth Management Agreements, on an aggregate basis, constitute discloseable transactions of the Company and are subject to the reporting and announcement requirements under the Listing Rules.
BACKGROUND
At the first meeting for the year 2024 held by the eleventh session of the Directors on 29 March 2024 and the 2023 annual general meeting of the Company held on 24 June 2024, a resolution on entrusted wealth management of idle self-owned funds of the Company was considered and approved. Subject to the investment risk control by the Company and the principles of improving efficiency of the use of capital and increasing return on cash assets, the entrustment of idle self-owned funds of not more than RMB19,000,000,000 to commercial banks, trust companies, securities companies, fund companies, insurance companies, asset management companies and other financial institutions to conduct short-term and medium- and low-risk investment for wealth management was approved.
Reference is made to the Chongqing Trust Wealth Management Agreements in relation to subscription of wealth management products by the Company and its subsidiaries (as subscribers) from Chongqing Trust (as issuers) during the period from 22 September 2022 to 18 September 2023. Please refer to the announcement published by the Company on the website of Hong Kong Stock Exchange
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(http://www.hkexnews.hk) on 18 September 2023, for further details.
SUBSCRIPTION OF WEALTH MANAGEMENT PRODUCTS
The Board announces that, during the period from 16 November 2023 to 5 September 2024, Refrigerator Marketing Company, wholly owned subsidiary of the Company, as subscriber, entered into the Chongqing Trust Wealth Management Agreements to subscribe for the Chongqing Trust Wealth Management Products in an aggregate subscription amount of RMB1,659,844,906.22 (equivalent to approximately HK$1,822,908,600 [Note 1] ). The Group utilised its idle funds for the payment of the subscription amount under each of the Chongqing Trust Wealth Management Agreements.
MAJOR TERMS OF THE WEALTH MANAGEMENT PRODUCTS
Summarised below are the major terms of the Chongqing Trust Wealth Management Agreements:
| 2023 12th Chongqing Trust Wealth Management Agreement | |
|---|---|
| (1)Date of subscription: |
16 November 2023 |
| (2) Name of product: |
Chongqing Trust·Haina No. 1 Collective Fund Trust Plan( 重慶信託·海納1號集合資金信託計劃) |
| (3) Parties: | (i) Chongqing Trust as trustee (ii) Refrigerator Marketing Company as subscriber |
| (4) Type of product: |
Fixed income |
| (5) Risk rating of product: |
Medium-low |
| (6) Principal amount of subscription: |
RMB207,762,039.66 (equivalent to approximately HK$226,157,708_Note 2_) |
| (7) Term of investment: |
The term of investment of the 2023 12th Chongqing Trust Wealth Management Product is subject to the redemption time of the subscriber. |
| (8) Expected rate of return: |
The performance of the 2023 12th Chongqing Trust Wealth Management Product will fluctuate with the market and is subject to uncertainty. It will be valued at the net asset value of the trust units on the valuation day. |
| (9) Investment scope of the product: |
The 2023 12th Chongqing Trust Wealth Management Product invests (i) at least 80% of the funds in China Life AMP Ruixing No. 1 Single Asset Management Plan (國壽安保睿興1號單一資產管理計劃), China Life AMP Ruixing No. 2 Single Asset Management Plan (國壽安保睿興2 號單一資產管理計劃) and China Life AMP Ruixing No. 3 Single Asset Management Plan (國壽安保睿興 3號單一資產管理計劃) (collectively, the “China Life AMP Plans”); and (ii) the idle funds as bank deposits in Guangfa Bank. The China Life AMP Plans are managed by China Life AMP as asset manager and invest in: (i) cash: cash, bond repurchase, bank deposits, currency market fund issued by the asset manager; and |
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| (ii) fixed income: bonds, local government bonds, central bank bills and policy-based financial bonds and interbank certificates of deposit. |
|
|---|---|
| (10) Right of early termination: |
The subscriber is not entitled to early termination of the 2023 12th Chongqing Trust Wealth Management Product without consent of Chongqing Trust. Chongqing Trust is entitled to early termination of the 2023 12th Chongqing Trust Wealth Management Product if there arises any adverse situation which affects the purpose of the 2023 12th Chongqing Trust Wealth Management Agreement. |
| 2024 1st Chongqing Trust Wealth Management Agreement | |
| (1)Date of subscription: |
18 March 2024 |
| (2) Name of product: |
Chongqing Trust·Haina No. 3 Collective Fund Trust Plan( 重慶信託·海納3號集合資金信託計劃) |
| (3) Parties: | (i) Chongqing Trust as trustee (ii) Refrigerator Marketing Company as subscriber |
| (4) Type of product: |
Fixed income |
| (5) Risk rating of product: |
Medium-low |
| (6) Principal amount of subscription: |
RMB155,358,035.73 (equivalent to approximately HK$171,295,356_Note 3_) |
| (7) Term of investment: |
The term of investment of the 2024 1st Chongqing Trust Wealth Management Product is subject to the redemption time of the subscriber. |
| (8) Expected rate of return: |
The performance of the 2024 1st Chongqing Trust Wealth Management Product will fluctuate with the market and is subject to uncertainty. It will be valued at the net asset value of the trust units on the valuation day. |
| (9) Investment scope of the product: |
The 2024 1st Chongqing Trust Wealth Management Product invests (i) at least 80% of the funds in Shanxi Securities Huitong Hengsheng No. 39 Single Asset Management Plan (山證匯通恒盛39 號單一資產管理計劃) and Shanxi Securities Huitong Hengsheng No. 40 Single Asset Management Plan (山證匯 通恒盛40 號單一資產管理計劃) (collectively, the “Shanxi Securities Huitong Plans”); and (ii) the idle funds as bank deposits in Guangfa Bank. The Shanxi Securities Huitong Plans are managed by Shanxi Securities as asset manager and invest in: (i) cash assets: cash, bank deposits (including but not limited to time deposits, agreement deposits, interbank deposits and other types of deposits), interbank certificates of deposit, bond reverse repurchase with a maturity of 7 days (inclusive), national debt with a maturity of 1 year (inclusive), central bank bills with a maturity of 1 year (inclusive), government bonds with a maturity of 1 year (inclusive), money market funds, etc.; and |
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| (ii) fixed income assets: national debt, local government bonds, central bank bills, policy financial bonds, financial bonds (including subordinated bonds and mixed capital bonds, etc.), corporate bonds, company bonds (including non- public corporate bonds), medium-term notes, short-term financing bills, ultra- short-term financing bills, non-public directed debt financing instruments and reverse repurchase of bonds over 7 days. |
|
|---|---|
| (10) Right of early termination: |
The subscriber is not entitled to early termination of the 2024 1st Chongqing Trust Wealth Management Product without consent of Chongqing Trust. Chongqing Trust is entitled to early termination of the 2024 1st Chongqing Trust Wealth Management Product if there arises any adverse situation which affects the purpose of the 2024 1st Chongqing Trust Wealth Management Agreement. |
| 2024 2nd Chongqing Trust Wealth Management Agreement | |
| (1)Date of subscription: |
28 March 2024 |
| (2) Name of product: |
Chongqing Trust·Haina No. 2 Collective Fund Trust Plan( 重慶信託·海納2號集合資金信託計劃) |
| (3) Parties: | (i) Chongqing Trust as trustee (ii) Refrigerator Marketing Company as subscriber |
| (4) Type of product: |
Fixed income |
| (5) Risk rating of product: |
Medium-low |
| (6) Principal amount of subscription: |
RMB103,336,663.34 (equivalent to approximately HK$113,951,219_Note 4_) |
| (7) Term of investment: |
The term of investment of the 2024 2nd Chongqing Trust Wealth Management Product is subject to the redemption time of the subscriber. |
| (8) Expected rate of return: |
The performance of the 2024 2nd Chongqing Trust Wealth Management Product will fluctuate with the market and is subject to uncertainty. It will be valued at the net asset value of the trust units on the valuation day. |
| (9) Investment scope of the product: |
The 2024 2nd Chongqing Trust Wealth Management Product invests (i) at least 80% of the funds in SWS MU Jiuying No. 1 Single Asset Management Plan (申 萬菱信久盈1號單一資產管理計劃) ( the “SWSMU Plan”); and (ii) the idle funds as bank deposits in Guangfa Bank. The SWSMU Plan is managed by SWSMU as asset manager and invest in fixed- income assets such as cash, bank deposits, interbank certificates of deposits, bond repurchase, national debt, local bonds, policy financial bonds, commercial bank financial bonds, corporate bonds, company bonds, targeted debt financing instruments, medium-term notes, asset-backed securities, asset-backed notes and other fixed-income assets. |
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| (10) Right of early termination: |
The subscriber is not entitled to early termination of the 2024 2nd Chongqing Trust Wealth Management Product without consent of Chongqing Trust. Chongqing Trust is entitled to early termination of the 2024 2nd Chongqing Trust Wealth Management Product if there arises any adverse situation which affects the purpose of the 2024 2nd Chongqing Trust Wealth Management Agreement. |
|---|---|
| 2024 3rd Chongqing Trust Wealth Management Agreement | |
| (1)Date of subscription: |
17 April 2024 |
| (2) Name of product: |
Chongqing Trust·Haina No. 2 Collective Fund Trust Plan( 重慶信託·海納2號集合資金信託計劃) |
| (3) Parties: | (i) Chongqing Trust as trustee (ii) Refrigerator Marketing Company as subscriber |
| (4) Type of product: |
Fixed income |
| (5) Risk rating of product: |
Medium-low |
| (6) Principal amount of subscription: |
RMB103,627,823.31 (equivalent to approximately HK$114,265,987_Note 5_) |
| (7) Term of investment: |
The term of investment of the 2024 3rd Chongqing Trust Wealth Management Product is subject to the redemption time of the subscriber. |
| (8) Expected rate of return: |
The performance of the 2024 3rd Chongqing Trust Wealth Management Product will fluctuate with the market and is subject to uncertainty. It will be valued at the net asset value of the trust units on the valuation day. |
| (9) Investment scope of the product: |
The 2024 3rd Chongqing Trust Wealth Management Product invests (i) at least 80% of the funds in the SWSMU Plan; and (ii) the idle funds as bank deposits in Guangfa Bank. The SWSMU Plan is managed by SWSMU as asset manager and invest in fixed- income assets such as cash, bank deposits, interbank certificates of deposits, bond repurchase, national debt, local bonds, policy financial bonds, commercial bank financial bonds, corporate bonds, company bonds, targeted debt financing instruments, medium-term notes, asset-backed securities, asset-backed notes and other fixed-income assets. |
| (10) Right of early termination: |
The subscriber is not entitled to early termination of the 2024 3rd Chongqing Trust Wealth Management Product without consent of Chongqing Trust. Chongqing Trust is entitled to early termination of the 2024 3rd Chongqing Trust Wealth Management Product if there arises any adverse situation which affects the purpose of the 2024 3rd Chongqing Trust Wealth Management Agreement. |
| 2024 4th Chongqing Trust Wealth Management Agreement |
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| (1)Date of subscription: |
17 April 2024 |
|---|---|
| (2) Name of product: |
Chongqing Trust·Haina No. 1 Collective Fund Trust Plan( 重慶信託·海納1號集合資金信託計劃) |
| (3) Parties: | (i) Chongqing Trust as trustee (ii) Refrigerator Marketing Company as subscriber |
| (4) Type of product: |
Fixed income |
| (5) Risk rating of product: |
Medium-low |
| (6) Principal amount of subscription: |
RMB268,705,520.30 (equivalent to approximately HK$296,290,132_Note 5_) |
| (7) Term of investment: |
The term of investment of the 2024 4th Chongqing Trust Wealth Management Product is subject to the redemption time of the subscriber. |
| (8) Expected rate of return: |
The performance of the 2024 4th Chongqing Trust Wealth Management Product will fluctuate with the market and is subject to uncertainty. It will be valued at the net asset value of the trust units on the valuation day. |
| (9) Investment scope of the product: |
The 2024 4th Chongqing Trust Wealth Management Product invests (i) at least 80% of the funds in the China Life AMP Plans; and (ii) the idle funds as bank deposits in Guangfa Bank. The China Life AMP Plans are managed by China Life AMP as asset manager and invest in: (i) cash: cash, bond repurchase, bank deposits, currency market fund issued by the asset manager; and (ii) fixed income: bonds, local government bonds, central bank bills and policy-based financial bonds and interbank certificates of deposit. |
| (10) Right of early termination: |
The subscriber is not entitled to early termination of the 2024 4th Chongqing Trust Wealth Management Product without consent of Chongqing Trust. Chongqing Trust is entitled to early termination of the 2024 4th Chongqing Trust Wealth Management Product if there arises any adverse situation which affects the purpose of the 2024 4th Chongqing Trust Wealth Management Agreement. |
| 2024 5th Chongqing Trust Wealth Management Agreement | |
| (1)Date of subscription: |
16 May 2024 |
| (2) Name of product: |
Chongqing Trust·Haina No. 1 Collective Fund Trust Plan( 重慶信託·海納1號集合資金信託計劃) |
| (3) Parties: | (i) Chongqing Trust as trustee (ii) Refrigerator Marketing Company as subscriber |
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| (4) Type of product: |
Fixed income |
|---|---|
| (5) Risk rating of product: |
Medium-low |
| (6) Principal amount of subscription: |
RMB102,618,228.43 (equivalent to approximately HK$112,769,762_Note 6_) |
| (7) Term of investment: |
The term of investment of the 2024 5th Chongqing Trust Wealth Management Product is subject to the redemption time of the subscriber. |
| (8) Expected rate of return: |
The performance of the 2024 5th Chongqing Trust Wealth Management Product will fluctuate with the market and is subject to uncertainty. It will be valued at the net asset value of the trust units on the valuation day. |
| (9) Investment scope of the product: |
The 2024 5th Chongqing Trust Wealth Management Product invests (i) at least 80% of the funds in the China Life AMP Plans; and (ii) the idle funds as bank deposits in Guangfa Bank. The China Life AMP Plans are managed by China Life AMP as asset manager and invest in: (i) cash: cash, bond repurchase, bank deposits, currency market fund issued by the asset manager; and (ii) fixed income: bonds, local government bonds, central bank bills and policy-based financial bonds and interbank certificates of deposit. |
| (10) Right of early termination: |
The subscriber is not entitled to early termination of the 2024 5th Chongqing Trust Wealth Management Product without consent of Chongqing Trust. Chongqing Trust is entitled to early termination of the 2024 5th Chongqing Trust Wealth Management Product if there arises any adverse situation which affects the purpose of the 2024 5th Chongqing Trust Wealth Management Agreement. |
| 2024 6th Chongqing Trust Wealth Management Agreement | |
| (1)Date of subscription: |
16 May 2024 |
| (2) Name of product: |
Chongqing Trust·Haina No. 3 Collective Fund Trust Plan( 重慶信託·海納3號集合資金信託計劃) |
| (3) Parties: | (i) Chongqing Trust as trustee (ii) Refrigerator Marketing Company as subscriber |
| (4) Type of product: |
Fixed income |
| (5) Risk rating of product: |
Medium-low |
| (6) Principal amount of subscription: |
RMB71,936,595.45 (equivalent to approximately HK$79,052,941_Note 6_) |
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| (7) Term of investment: |
The term of investment of the 2024 6th Chongqing Trust Wealth Management Product is subject to the redemption time of the subscriber. |
|---|---|
| (8) Expected rate of return: |
The performance of the 2024 6th Chongqing Trust Wealth Management Product will fluctuate with the market and is subject to uncertainty. It will be valued at the net asset value of the trust units on the valuation day. |
| (9) Investment scope of the product: |
The 2024 6th Chongqing Trust Wealth Management Product invests (i) at least 80% of the funds in the Shanxi Securities Huitong Plans; and (ii) the idle funds as bank deposits in Guangfa Bank. The Shanxi Securities Huitong Plans are managed by Shanxi Securities as asset manager and invest in: (i) cash assets: cash, bank deposits (including but not limited to time deposits, agreement deposits, interbank deposits and other types of deposits), interbank certificates of deposit, bond reverse repurchase with a maturity of 7 days (inclusive), national debt with a maturity of 1 year (inclusive), central bank bills with a maturity of 1 year (inclusive), government bonds with a maturity of 1 year (inclusive), money market funds, etc.; and (ii) fixed income assets: national debt, local government bonds, central bank bills, policy financial bonds, financial bonds (including subordinated bonds and mixed capital bonds, etc.), corporate bonds, company bonds (including non- public corporate bonds), medium-term notes, short-term financing bills, ultra- short-term financing bills, non-public directed debt financing instruments and reverse repurchase of bonds over 7 days. |
| (10) Right of early termination: |
The subscriber is not entitled to early termination of the 2024 6th Chongqing Trust Wealth Management Product without consent of Chongqing Trust. Chongqing Trust is entitled to early termination of the 2024 6th Chongqing Trust Wealth Management Product if there arises any adverse situation which affects the purpose of the 2024 6th Chongqing Trust Wealth Management Agreement. |
| 2024 7th Chongqing Trust Wealth Management Agreement | |
| (1)Date of subscription: |
28 May 2024 |
| (2) Name of product: |
Chongqing Trust·Haina No. 1 Collective Fund Trust Plan( 重慶信託·海納1號集合資金信託計劃) |
| (3) Parties: | (i) Chongqing Trust as trustee (ii) Refrigerator Marketing Company as subscriber |
| (4) Type of product: |
Fixed income |
| (5) Risk rating of product: |
Medium-low |
| (6) Principal amount of subscription: |
RMB291,000,000 (equivalent to approximately HK$319,492,326_Note 7_) |
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| (7) Term of investment: |
The term of investment of the 2024 7th Chongqing Trust Wealth Management Product is subject to the redemption time of the subscriber. |
|---|---|
| (8) Expected rate of return: |
The performance of the 2024 7th Chongqing Trust Wealth Management Product will fluctuate with the market and is subject to uncertainty. It will be valued at the net asset value of the trust units on the valuation day. |
| (9) Investment scope of the product: |
The 2024 7th Chongqing Trust Wealth Management Product invests (i) at least 80% of the funds in the China Life AMP Plans; and (ii) the idle funds as bank deposits in Guangfa Bank. The China Life AMP Plans are managed by China Life AMP as asset manager and invest in: (i) cash: cash, bond repurchase, bank deposits, currency market fund issued by the asset manager; and (ii) fixed income: bonds, local government bonds, central bank bills and policy-based financial bonds and interbank certificates of deposit. |
| (10) Right of early termination: |
The subscriber is not entitled to early termination of the 2024 7th Chongqing Trust Wealth Management Product without consent of Chongqing Trust. Chongqing Trust is entitled to early termination of the 2024 7th Chongqing Trust Wealth Management Product if there arises any adverse situation which affects the purpose of the 2024 7th Chongqing Trust Wealth Management Agreement. |
| 2024 8th Chongqing Trust Wealth Management Agreement | |
| (1)Date of subscription: |
4 July 2024 |
| (2) Name of product: |
Chongqing Trust·Haina No. 2 Collective Fund Trust Plan( 重慶信託·海納2號集合資金信託計劃) |
| (3) Parties: | (i) Chongqing Trust as trustee (ii) Refrigerator Marketing Company as subscriber |
| (4) Type of product: |
Fixed income |
| (5) Risk rating of product: |
Medium-low |
| (6) Principal amount of subscription: |
RMB198,000,000 (equivalent to approximately HK$216,891,226_Note 8_) |
| (7) Term of investment: |
The term of investment of the 2024 8th Chongqing Trust Wealth Management Product is subject to the redemption time of the subscriber. |
| (8) Expected rate of return: |
The performance of the 2024 8th Chongqing Trust Wealth Management Product will fluctuate with the market and is subject to uncertainty. It will be valued at the net asset value of the trust units on the valuation day. |
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| (9) Investment scope of the product: |
The 2024 8th Chongqing Trust Wealth Management Product invests (i) at least 80% of the funds in the SWSMU Plan; and (ii) the idle funds as bank deposits in Guangfa Bank. The SWSMU Plan is managed by SWSMU as asset manager and invest in fixed- income assets such as cash, bank deposits, interbank certificates of deposits, bond repurchase, national debt, local bonds, policy financial bonds, commercial bank financial bonds, corporate bonds, company bonds, targeted debt financing instruments, medium-term notes, asset-backed securities, asset-backed notes and other fixed-income assets. |
|---|---|
| (10) Right of early termination: |
The subscriber is not entitled to early termination of the 2024 8th Chongqing Trust Wealth Management Product without consent of Chongqing Trust. Chongqing Trust is entitled to early termination of the 2024 8th Chongqing Trust Wealth Management Product if there arises any adverse situation which affects the purpose of the 2024 8th Chongqing Trust Wealth Management Agreement. |
| 2024 9th Chongqing Trust Wealth Management Agreement | |
| (1)Date of subscription: |
16 July 2024 |
| (2) Name of product: |
Chongqing Trust·Haina No. 3 Collective Fund Trust Plan( 重慶信託·海納3號集合資金信託計劃) |
| (3) Parties: | (i) Chongqing Trust as trustee (ii) Refrigerator Marketing Company as subscriber |
| (4) Type of product: |
Fixed income |
| (5) Risk rating of product: |
Medium-low |
| (6) Principal amount of subscription: |
RMB52,500,000 (equivalent to approximately HK$57,459,942_Note 9_) |
| (7) Term of investment: |
The term of investment of the 2024 9th Chongqing Trust Wealth Management Product is subject to the redemption time of the subscriber. |
| (8) Expected rate of return: |
The performance of the 2024 9th Chongqing Trust Wealth Management Product will fluctuate with the market and is subject to uncertainty. It will be valued at the net asset value of the trust units on the valuation day. |
| (9) Investment scope of the product: |
The 2024 9th Chongqing Trust Wealth Management Product invests (i) at least 80% of the funds in the Shanxi Securities Huitong Plans; and (ii) the idle funds as bank deposits in Guangfa Bank. The Shanxi Securities Huitong Plans are managed by Shanxi Securities as asset manager and invest in: (i) cash assets: cash, bank deposits (including but not limited to time deposits, agreement deposits, interbank deposits and other types of deposits), interbank certificates of deposit, bond reverse repurchase with a maturity of 7 days (inclusive), national debt with a maturity of 1 year (inclusive), central bank bills |
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| with a maturity of 1 year (inclusive), government bonds with a maturity of 1 year (inclusive), money market funds, etc.; and (ii) fixed income assets: national debt, local government bonds, central bank bills, policy financial bonds, financial bonds (including subordinated bonds and mixed capital bonds, etc.), corporate bonds, company bonds (including non- public corporate bonds), medium-term notes, short-term financing bills, ultra- short-term financing bills, non-public directed debt financing instruments and reverse repurchase of bonds over 7 days. |
|
|---|---|
| (10) Right of early termination: |
The subscriber is not entitled to early termination of the 2024 9th Chongqing Trust Wealth Management Product without consent of Chongqing Trust. Chongqing Trust is entitled to early termination of the 2024 9th Chongqing Trust Wealth Management Product if there arises any adverse situation which affects the purpose of the 2024 9th Chongqing Trust Wealth Management Agreement. |
| 2024 10th Chongqing Trust Wealth Management Agreement | |
| (1)Date of subscription: |
5 September 2024 |
| (2) Name of product: |
Chongqing Trust·Haina No. 3 Collective Fund Trust Plan( 重慶信託·海納3號集合資金信託計劃) |
| (3) Parties: | (i) Chongqing Trust as trustee (ii) Refrigerator Marketing Company as subscriber |
| (4) Type of product: |
Fixed income |
| (5) Risk rating of product: |
Medium-low |
| (6) Principal amount of subscription: |
RMB105,000,000 (equivalent to approximately HK$115,282,002_Note 10_) |
| (7) Term of investment: |
The term of investment of the 2024 10th Chongqing Trust Wealth Management Product is subject to the redemption time of the subscriber. |
| (8) Expected rate of return: |
The performance of the 2024 10th Chongqing Trust Wealth Management Product will fluctuate with the market and is subject to uncertainty. It will be valued at the net asset value of the trust units on the valuation day. |
| (9) Investment scope of the product: |
The 2024 10th Chongqing Trust Wealth Management Product invests (i) at least 80% of the funds in the Shanxi Securities Huitong Plans; and (ii) the idle funds as bank deposits in Guangfa Bank. The Shanxi Securities Huitong Plans are managed by Shanxi Securities as asset manager and invest in: (i) cash assets: cash, bank deposits (including but not limited to time deposits, agreement deposits, interbank deposits and other types of deposits), interbank certificates of deposit, bond reverse repurchase with a maturity of 7 days (inclusive), national debt with a maturity of 1 year (inclusive), central bank bills |
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| with a maturity of 1 year (inclusive), government bonds with a maturity of 1 year (inclusive), money market funds, etc.; and (ii) fixed income assets: national debt, local government bonds, central bank bills, policy financial bonds, financial bonds (including subordinated bonds and mixed capital bonds, etc.), corporate bonds, company bonds (including non- public corporate bonds), medium-term notes, short-term financing bills, ultra- short-term financing bills, non-public directed debt financing instruments and reverse repurchase of bonds over 7 days. |
|
|---|---|
| (10) Right of early termination: |
The subscriber is not entitled to early termination of the 2024 10th Chongqing Trust Wealth Management Product without consent of Chongqing Trust. Chongqing Trust is entitled to early termination of the 2024 10th Chongqing Trust Wealth Management Product if there arises any adverse situation which affects the purpose of the 2024 10th Chongqing Trust Wealth Management Agreement. |
To the best of the Directors’ knowledge, information and belief having made all reasonable enquiry, Chongqing Trust and its ultimate beneficial owner(s) are third parties independent of the Company and its connected persons.
REASONS FOR AND BENEFITS OF THE SUBSCRIPTIONS
The approval procedures of the subscriptions of wealth management products by the Company are in compliance with the relevant requirements of “Management Measures for Conducting Entrusted Wealth Management Transactions” ( 《委託理財管理制度》 ) of the Company. The subscriptions of the Chongqing Trust Wealth Management Products are made from the idle self-owned funds of the Group. Such use of the idle self-owned funds for entrusted wealth management is beneficial for enhancing efficiency of use of idle self-owned funds of the Group and will not adversely affect the daily operation and the principal business development of the Group as well as the interests of medium and small investors of the Company.
The Board considers that the subscriptions of the Chongqing Trust Wealth Management Products are on normal commercial terms, fair and reasonable, and in the interests of the Company and Shareholders as a whole.
IMPLICATION UNDER THE LISTING RULES
Each of the Chongqing Trust Wealth Management Agreements by itself does not constitute a discloseable transaction of the Company under Rule 14.06 of the Listing Rules. However, pursuant to Rule 14.22 of the Listing Rules, when the subscription amounts under the Chongqing Trust Wealth Management Agreements are aggregated, the relevant applicable percentage ratios (as defined under the Listing Rules) exceed 5% but are below 25%. Therefore, the transactions under the Chongqing Trust Wealth Management Agreements, on an aggregate basis, constitute discloseable transactions of the Company and are subject to the reporting and announcement requirements under the Listing Rules.
INFORMATION ON THE PARTIES
The Company
The Company and its subsidiaries are principally engaged in research and development, manufacturing and marketing of electrical products such as refrigerators, household air-conditioners, central air-
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conditioners, freezers, washing machines, kitchen appliances, etc and automotive air conditioner compressor and integrated thermal management system.
Refrigerator Marketing Company
Refrigerator Marketing Company is a company established in the PRC and a subsidiary of the Company, which is principally engaged in sales and after-sales service and technical services of household appliances such as refrigerators, freezers, washing machines, household appliances.
Chongqing Trust
Chongqing Trust is a company incorporated under the laws of the PRC and a non-bank financial institution regulated by China Banking and Insurance Regulatory Commission which is principally engaged in trust business, investment banking business and fund business. The ultimate beneficial owner of Chongqing Trust is the State-owned Assets Supervision and Administration Commission of the State Council.
China Life AMP
China Life AMP is a joint venture incorporated under the laws of the PRC by China Life Insurance Assets Management Co. Ltd.(中國人壽資產管理有限公司) and AMP Capital(安保資本投資有限公司) and approved by China Securities Regulatory Commission which is principally engaged in asset management and fund sales.
Shanxi Securities
Shanxi Securities is a comprehensive professional securities company approved by the China Securities Regulatory Commission and listed on the Shenzhen Stock Exchange (stock code: 002500), mainly engaged in securities business.
SWSMU
SWSMU is a joint venture incorporated under the laws of the PRC by Shenwan Hongyuan Securities Co., Ltd.(申萬宏源證券有限公司) and Mitsubishi UFJ Trust and Banking Corp.(日本三菱 UFJ 信託銀 行) and approved by China Securities Regulatory Commission which is principally engaged in asset management and fund sales.
DEFINITIONS
In this announcement, unless the context otherwise requires, the following terms have the meanings set out below:
| “2023 12th Chongqing | the wealth management agreement entered into between Refrigerator |
|---|---|
| Trust Wealth Management | Marketing Company and Chongqing Trust on 16 November 2023 in |
| Agreement” | relation to the subscription of the 2023 12th Chongqing Trust Wealth |
| Management Product; | |
| “2024 1st Chongqing Trust | the wealth management agreement entered into between Refrigerator |
| Wealth Management | Marketing Company and Chongqing Trust on 18 March 2024 in relation |
| Agreement” | to the subscription of the 2024 1st Chongqing Trust Wealth Management |
| Product; |
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| “2024 2nd Chongqing Trust | the wealth management agreement entered into between Refrigerator |
|---|---|
| Wealth Management | Marketing Company and Chongqing Trust on 28 March 2024 in relation |
| Agreement” | to the subscription of the 2024 2nd Chongqing Trust Wealth Management |
| Product; | |
| “2024 3rd Chongqing Trust | the wealth management agreement entered into between Refrigerator |
| Wealth Management | Marketing Company and Chongqing Trust on 17 April 2024 in relation to |
| Agreement” | the subscription of the 2024 3rd Chongqing Trust Wealth Management |
| Product; | |
| “2024 4th Chongqing Trust | the wealth management agreement entered into between Refrigerator |
| Wealth Management | Marketing Company and Chongqing Trust on 17 April 2024 in relation to |
| Agreement” | the subscription of the 2024 4th Chongqing Trust Wealth Management |
| Product; | |
| “2024 5th Chongqing Trust | the wealth management agreement entered into between Refrigerator |
| Wealth Management | Marketing Company and Chongqing Trust on 16 May 2024 in relation to |
| Agreement” | the subscription of the 2024 5th Chongqing Trust Wealth Management |
| Product; | |
| “2024 6th Chongqing Trust | the wealth management agreement entered into between Refrigerator |
| Wealth Management | Marketing Company and Chongqing Trust on 16 May 2024 in relation to |
| Agreement” | the subscription of the 2024 6th Chongqing Trust Wealth Management |
| Product; | |
| “2024 7th Chongqing Trust | the wealth management agreement entered into between Refrigerator |
| Wealth Management | Marketing Company and Chongqing Trust on 28 May 2024 in relation to |
| Agreement” | the subscription of the 2024 7th Chongqing Trust Wealth Management |
| Product; | |
| “2024 8th Chongqing Trust | the wealth management agreement entered into between Refrigerator |
| Wealth Management | Marketing Company and Chongqing Trust on 4 July 2024 in relation to the |
| Agreement” | subscription of the 2024 8th Chongqing Trust Wealth Management |
| Product; | |
| “2024 9th Chongqing Trust | the wealth management agreement entered into between Refrigerator |
| Wealth Management | Marketing Company and Chongqing Trust on 16 July 2024 in relation to |
| Agreement” | the subscription of the 2024 9th Chongqing Trust Wealth Management |
| Product; | |
| “2024 10th Chongqing | the wealth management agreement entered into between Refrigerator |
| Trust Wealth Management | Marketing Company and Chongqing Trust on 5 September 2024 in relation |
| Agreement” | to the subscription of the 2024 10th Chongqing Trust Wealth Management |
| Product; | |
| “2023 12th Chongqing | the wealth management product subscribed under the 2023 12th |
| Trust Wealth Management | Chongqing Trust Wealth Management Agreement, the major terms of |
| Product” | which are summarised in this announcement; |
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| “2024 1st Chongqing Trust | the wealth management product subscribed under the 2024 1st Chongqing |
|---|---|
| Wealth Management | Trust Wealth Management Agreement, the major terms of which are |
| Product” | summarised in this announcement; |
| “2024 2nd Chongqing Trust | the wealth management product subscribed under the 2024 2nd Chongqing |
| Wealth Management | Trust Wealth Management Agreement, the major terms of which are |
| Product” | summarised in this announcement; |
| “2024 3rd Chongqing Trust | the wealth management product subscribed under the 2024 3rd Chongqing |
| Wealth Management | Trust Wealth Management Agreement, the major terms of which are |
| Product” | summarised in this announcement; |
| “2024 4th Chongqing Trust | the wealth management product subscribed under the 2024 4th Chongqing |
| Wealth Management | Trust Wealth Management Agreement, the major terms of which are |
| Product” | summarised in this announcement; |
| “2024 5th Chongqing Trust | the wealth management product subscribed under the 2024 5th Chongqing |
| Wealth Management | Trust Wealth Management Agreement, the major terms of which are |
| Product” | summarised in this announcement; |
| “2024 6th Chongqing Trust | the wealth management product subscribed under the 2024 6th Chongqing |
| Wealth Management | Trust Wealth Management Agreement, the major terms of which are |
| Product” | summarised in this announcement; |
| “2024 7th Chongqing Trust | the wealth management product subscribed under the 2024 7th Chongqing |
| Wealth Management | Trust Wealth Management Agreement, the major terms of which are |
| Product” | summarised in this announcement; |
| “2024 8th Chongqing Trust | the wealth management product subscribed under the 2024 8th Chongqing |
| Wealth Management | Trust Wealth Management Agreement, the major terms of which are |
| Product” | summarised in this announcement; |
| “2024 9th Chongqing Trust | the wealth management product subscribed under the 2024 9th Chongqing |
| Wealth Management | Trust Wealth Management Agreement, the major terms of which are |
| Product” | summarised in this announcement; |
| “2024 10th Chongqing | the wealth management product subscribed under the 2024 10th |
| Trust Wealth Management | Chongqing Trust Wealth Management Agreement, the major terms of |
| Product” | which are summarised in this announcement; |
| “Board” | the board of directors of the Company; |
| “China Life AMP” | China Life AMP Asset Management Company Limited *(國壽安保基金 |
| 管理有限公司), a company incorporated under the laws of the PRC; | |
| “Chongqing Trust” | Chongqing International Trust Company Limited *(重慶國際信托股份有 |
限公司), a company incorporated under the laws of the PRC and a non- |
|
| bank financial institution; |
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| “Company” | Hisense Home Appliances Group Co., | Ltd. (海信家電集團股份有限公 |
|---|---|---|
| 司), a joint stock limited company incorporated in the PRC with limited | ||
| liability, whose shares are listed on the main board of the Hong Kong Stock | ||
| Exchange and the Shenzhen Stock Exchange; | ||
| “connected person(s)” | has the meaning ascribed to it under the Listing Rules; | |
| “Director(s)” | the director(s) of the Company; | |
| “Group” | the Company and its subsidiaries; | |
| “Guangfa Bank” | a branch of China Guangfa Bank Co., Ltd. *(廣發銀行股份有限公司), a | |
| licensed bank incorporated under the laws of the PRC; | ||
| “HK$” | Hong Kong dollars, the lawful currency of Hong Kong; | |
| “Hong Kong Stock | The Stock Exchange of Hong Kong Limited; | |
| Exchange” | ||
| “Listing Rules” | the Rules Governing the Listing of Securities on the Hong Kong Stock | |
| Exchange; | ||
| “PRC” | the People’s Republic of China; | |
| “Refrigerator Marketing | Guangdong Hisense Refrigerator Marketing Co., Ltd.* (廣東海信冰箱營 | |
| Company” | 銷股份有限公司), a non-wholly owned subsidiary of the Company; | |
| “Renminbi” or “RMB” | Renminbi, the lawful currency of the PRC; | |
| “Shanxi Securities” | Shanxi Securities Co. Ltd.*(山西證券股份有限公司), a company |
|
| incorporated under the laws of the | PRC and a non-bank financial | |
| institution; | ||
| “Shareholder(s)” | the shareholder(s) of the Company; | |
| “SWSMU” | SWS MU Fund Management Co., Ltd. | *(申萬菱信基金管理有限公司), |
| a company incorporated under the laws of the PRC and a non-bank | ||
| financial institution; | ||
| “%” | per cent; and | |
| “*” | for identification purposes only. |
Notes:
1. This amount is an aggregation of the HK$ amounts converted from RMB at the exchange rates that were used in the announcements corresponding to the “ Announcement Dates ” in the list of Chongqing Trust Wealth Management Agreements. The conversions were for the purpose of illustration only. No representation is made that any amount in HK$ or RMB could have been or could be converted at the
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relevant dates at the above rate or at any other rates or at all.
2. This amount has been converted from RMB into HK$ at an exchange rate of RMB0.91866 to HK$1 for the purpose of illustration only. No representation is made that any amount in HK$ or RMB could have been or could be converted at the relevant dates at the above rate or at any other rates or at all.
3. This amount has been converted from RMB into HK$ at an exchange rate of RMB0.90696 to HK$1 for the purpose of illustration only. No representation is made that any amount in HK$ or RMB could have been or could be converted at the relevant dates at the above rate or at any other rates or at all.
4. This amount has been converted from RMB into HK$ at an exchange rate of RMB0.90685 to HK$1 for the purpose of illustration only. No representation is made that any amount in HK$ or RMB could have been or could be converted at the relevant dates at the above rate or at any other rates or at all.
5. This amount has been converted from RMB into HK$ at an exchange rate of RMB0.9069 to HK$1 for the purpose of illustration only. No representation is made that any amount in HK$ or RMB could have been or could be converted at the relevant dates at the above rate or at any other rates or at all.
6. This amount has been converted from RMB into HK$ at an exchange rate of RMB0.90998 to HK$1 for the purpose of illustration only. No representation is made that any amount in HK$ or RMB could have been or could be converted at the relevant dates at the above rate or at any other rates or at all.
7. This amount has been converted from RMB into HK$ at an exchange rate of RMB0.91082 to HK$1 for the purpose of illustration only. No representation is made that any amount in HK$ or RMB could have been or could be converted at the relevant dates at the above rate or at any other rates or at all.
8. This amount has been converted from RMB into HK$ at an exchange rate of RMB0.9129 to HK$1 for the purpose of illustration only. No representation is made that any amount in HK$ or RMB could have been or could be converted at the relevant dates at the above rate or at any other rates or at all.
9. This amount has been converted from RMB into HK$ at an exchange rate of RMB0.91368 to HK$1 for the purpose of illustration only. No representation is made that any amount in HK$ or RMB could have been or could be converted at the relevant dates at the above rate or at any other rates or at all.
10. This amount has been converted from RMB into HK$ at an exchange rate of RMB0.91081 to HK$1 for the purpose of illustration only. No representation is made that any amount in HK$ or RMB could have been or could be converted at the relevant dates at the above rate or at any other rates or at all.
By order of the Board Hisense Home Appliances Group Co., Ltd. Dai Hui Zhong Chairman
Foshan City, Guangdong, the PRC, 5 September 2024
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As at the date of this announcement, the Company’s executive directors are Mr. Dai Hui Zhong, Mr. Jia Shao Qian, Mr. Yu Zhi Tao, Mr. Hu Jian Yong, Ms. Gao Yu Ling and Mr. Zhu Dan; and the Company’s independent non-executive directors are Mr. Li Zhi Gang, Mr. Tsoi Wing Sing and Mr. Xu Guo Jun.
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