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Medlive Technology Co., Ltd. — Capital/Financing Update 2024
Jul 4, 2024
50436_rns_2024-07-04_ce0a169d-613d-48d6-9d05-a502eee30dca.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 28 June 2023 to 4 July 2024, the Company and its nonwholly owned subsidiaries, Air-conditioner Marketing Company and Refrigerator Marketing Company, as subscribers entered into the SITI Trust Wealth Management Agreements to subscribe for the SITI Trust Wealth Management Products in an aggregate subscription amount of RMB2,230,000,000 (equivalent to approximately HK$2,445,600,396 [Note 1] ).
The Group utilised its idle funds for the payment of the subscription amount under each of the SITI Trust Wealth Management Agreements.
Each of the SITI 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 SITI 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 SITI 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.
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Reference is made to the SITI Trust Wealth Management Agreements in relation to subscription of wealth management products by the Company and its subsidiaries (as subscribers) from SITI (as issuer), further particulars of which are listed out in the section headed “List of SITI Trust Wealth Management Agreements” in this announcement.
SUBSCRIPTION OF WEALTH MANAGEMENT PRODUCTS
The Board announces that, during the period from 28 June 2023 to 4 July 2024, the Company and its nonwholly owned subsidiaries, Air-conditioner Marketing Company and Refrigerator Marketing Company, as subscribers entered into the SITI Trust Wealth Management Agreements to subscribe for the SITI Trust Wealth Management Products in an aggregate subscription amount of RMB2,230,000,000 (equivalent to approximately HK$2,445,600,396 [Note 1] ).The Group utilised its idle funds for the payment of the subscription amount under each of the SITI Trust Wealth Management Agreements.
MAJOR TERMS OF THE WEALTH MANAGEMENT PRODUCTS
Summarised below are the major terms of SITI Trust Wealth Management Agreements:
| 2023 1st SITI Trust Wealth Management Agreement | |
|---|---|
| (1)Date of subscription: |
28 June 2023 |
| (2) Name of product: |
SITI•Hui Ying No. 1 Bond Investment Collective Fund Trust Plan(陝國投•匯盈1號債券投資集合資金信託計劃) |
| (3) Parties: | (i) SITI as trustee (ii) the Company as subscriber |
| (4) Type of product: |
Non-principal-guaranteed with floating return |
| (5) Risk rating of product: |
Medium-low |
| (6) Principal amount of subscription: |
RMB250,000,000 (equivalent to approximately HK$271,576,775_Note 2_) |
| (7) Term of investment: |
The term of investment of the 2023 1st SITI Trust Wealth Management Product is subject to the redemption time of the subscriber. |
| (8) Expected rate of return: |
The performance of the 2023 1st SITI 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 1st SITI Trust Wealth Management Product invests in: (i) liquid money market instruments and deposit instruments: including but not limited to cash, bond repurchases, bank deposits, large transferable certificates of deposit, etc. (ii) publicly issued bonds issued in the exchange or inter-bank market: treasury bonds, local government bonds, central bank bills, various financial bonds (subordinated bonds, hybrid capital bonds, etc.), enterprise bonds, |
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| corporate bonds, and various debt financing instruments issued through the registration of the competent authorities (short-term financing bills, super short-term financing bills, medium-term bills, etc.). (iii) non-public corporate bonds issued in the exchange or inter-bank market, convertible bonds (segregated convertible bonds, exchangeable bonds, etc.), non-public targeted debt financing instruments, asset securitisation products (asset-backed securities, asset-backed notes, income certificates, ABCP, etc.), REITs, and various fixed-income securities (debenture financing plans, etc.) approved or filed for issuance by the respective regulatory authorities. (iv) fixed income funds: including but not limited to money market funds, bond funds, and the priority of structured funds. (v) asset management plans of securities companies, asset management plans for specific clients of funds and their subsidiaries, etc. The investment scope of such asset management plans shall not exceed (i) to (iv) above. (vi) safeguard fund. |
|
|---|---|
| (10) Right of early termination: |
SITI is entitled to early termination of the 2023 1st SITI Trust Wealth Management Product if there arises any adverse situation which affects the purpose of the 2023 1st SITI Trust Wealth Management Agreement. |
| 2023 2nd SITI Trust Wealth Management Agreement | |
|---|---|
| (1)Date of subscription: |
21 September 2023 |
| (2) Name of product: |
SITI•Hui Ying No. 1 Bond Investment Collective Fund Trust Plan(陝國投•匯盈1號債券投資集合資金信託計劃) |
| (3) Parties: | (i) SITI as trustee (ii) Refrigerator Marketing Company as subscriber |
| (4) Type of product: |
Non-principal-guaranteed with floating return |
| (5) Risk rating of product: |
Medium-low |
| (6) Principal amount of subscription: |
RMB200,000,000 (equivalent to approximately HK$218,119,159_Note 3_) |
| (7) Term of investment: |
The term of investment of the 2023 2nd SITI Trust Wealth Management Product is subject to the redemption time of the subscriber. |
| (8) Expected rate of return: |
The performance of the 2023 2nd SITI 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 2023 2nd SITI Trust Wealth Management Product invests in: (i) liquid money market instruments and deposit instruments: including but not limited to cash, bond repurchases, bank deposits, large transferable certificates of deposit, etc. (ii) publicly issued bonds issued in the exchange or inter-bank market: treasury bonds, local government bonds, central bank bills, various financial bonds (subordinated bonds, hybrid capital bonds, etc.), enterprise bonds, corporate bonds, and various debt financing instruments issued through the registration of the competent authorities (short-term financing bills, super short-term financing bills, medium-term bills, etc.). (iii) non-public corporate bonds issued in the exchange or inter-bank market, convertible bonds (segregated convertible bonds, exchangeable bonds, etc.), non-public targeted debt financing instruments, asset securitisation products (asset-backed securities, asset-backed notes, income certificates, ABCP, etc.), REITs, and various fixed-income securities (debenture financing plans, etc.) approved or filed for issuance by the respective regulatory authorities. (iv) fixed income funds: including but not limited to money market funds, bond funds, and the priority of structured funds. (v) asset management plans of securities companies, asset management plans for specific clients of funds and their subsidiaries, etc. The investment scope of such asset management plans shall not exceed (i) to (iv) above. (vi) safeguard fund. |
|---|---|
| (10) Right of early termination: |
SITI is entitled to early termination of the 2023 2nd SITI Trust Wealth Management Product if there arises any adverse situation which affects the purpose of the 2023 2nd SITI Trust Wealth Management Agreement. |
| 2023 3rd SITI Trust Wealth Management Agreement | |
|---|---|
| (1)Date of subscription: |
23 November 2023 |
| (2) Name of product: |
SITI•Hui Ying No. 1 Bond Investment Collective Fund Trust Plan(陝國投•匯盈1號債券投資集合資金信託計劃) |
| (3) Parties: | (i) SITI as trustee (ii) the Company as subscriber |
| (4) Type of product: |
Non-principal-guaranteed with floating return |
| (5) Risk rating of product: |
Medium-low |
| (6) Principal amount of subscription: |
RMB50,000,000 (equivalent to approximately HK$54,747,123_Note 4_) |
| (7) Term of investment: |
The term of investment of the 2023 3rd SITI Trust Wealth Management Product is subject to the redemption time of the subscriber. |
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| (8) Expected rate of return: |
The performance of the 2023 3rd SITI 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 3rd SITI Trust Wealth Management Product invests in: (i) liquid money market instruments and deposit instruments: including but not limited to cash, bond repurchases, bank deposits, large transferable certificates of deposit, etc. (ii) publicly issued bonds issued in the exchange or inter-bank market: treasury bonds, local government bonds, central bank bills, various financial bonds (subordinated bonds, hybrid capital bonds, etc.), enterprise bonds, corporate bonds, and various debt financing instruments issued through the registration of the competent authorities (short-term financing bills, super short-term financing bills, medium-term bills, etc.). (iii) non-public corporate bonds issued in the exchange or inter-bank market, convertible bonds (segregated convertible bonds, exchangeable bonds, etc.), non-public targeted debt financing instruments, asset securitisation products (asset-backed securities, asset-backed notes, income certificates, ABCP, etc.), REITs, and various fixed-income securities (debenture financing plans, etc.) approved or filed for issuance by the respective regulatory authorities. (iv) fixed income funds: including but not limited to money market funds, bond funds, and the priority of structured funds. (v) asset management plans of securities companies, asset management plans for specific clients of funds and their subsidiaries, etc. The investment scope of such asset management plans shall not exceed (i) to (iv) above. (vi) safeguard fund. |
| (10) Right of early termination: |
SITI is entitled to early termination of the 2023 3rd SITI Trust Wealth Management Product if there arises any adverse situation which affects the purpose of the 2023 3rd SITI Trust Wealth Management Agreement. |
| 2024 1st SITI Trust Wealth Management Agreement | |
| (1)Date of subscription: |
5 January 2024 |
| (2) Name of product: |
SITI•Hui Ying No. 1 Bond Investment Collective Fund Trust Plan(陝國投•匯盈1號債券投資集合資金信託計劃) |
| (3) Parties: | (i) SITI as trustee (ii) Refrigerator Marketing Company as subscriber |
| (4) Type of product: |
Non-principal-guaranteed with floating return |
| (5) Risk rating of product: |
Medium-low |
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| (6) Principal amount of subscription: |
RMB300,000,000 (equivalent to approximately HK$329,891,466_Note 5_) |
|---|---|
| (7) Term of investment: |
The term of investment of the 2024 1st SITI Trust Wealth Management Product is subject to the redemption time of the subscriber. |
| (8) Expected rate of return: |
The performance of the 2024 1st SITI 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 SITI Trust Wealth Management Product invests in: (i) liquid money market instruments and deposit instruments: including but not limited to cash, bond repurchases, bank deposits, large transferable certificates of deposit, etc. (ii) publicly issued bonds issued in the exchange or inter-bank market: treasury bonds, local government bonds, central bank bills, various financial bonds (subordinated bonds, hybrid capital bonds, etc.), enterprise bonds, corporate bonds, and various debt financing instruments issued through the registration of the competent authorities (short-term financing bills, super short-term financing bills, medium-term bills, etc.). (iii) non-public corporate bonds issued in the exchange or inter-bank market, convertible bonds (segregated convertible bonds, exchangeable bonds, etc.), non-public targeted debt financing instruments, asset securitisation products (asset-backed securities, asset-backed notes, income certificates, ABCP, etc.), REITs, and various fixed-income securities (debenture financing plans, etc.) approved or filed for issuance by the respective regulatory authorities. (iv) fixed income funds: including but not limited to money market funds, bond funds, and the priority of structured funds. (v) asset management plans of securities companies, asset management plans for specific clients of funds and their subsidiaries, etc. The investment scope of such asset management plans shall not exceed (i) to (iv) above. (vi) safeguard fund. |
| (10) Right of early termination: |
SITI is entitled to early termination of the 2024 1st SITI Trust Wealth Management Product if there arises any adverse situation which affects the purpose of the 2024 1st SITI Trust Wealth Management Agreement. |
| 2024 2nd SITI Trust Wealth Management Agreement | |
| (1)Date of subscription: |
27 March 2024 |
| (2) Name of product: |
SITI•Hui Ying No. 1 Bond Investment Collective Fund Trust Plan(陝國投•匯盈1號債券投資集合資金信託計劃) |
| (3) Parties: | (i) SITI as trustee (ii) the Company as subscriber |
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| (4) Type of product: |
Non-principal-guaranteed with floating return |
|---|---|
| (5) Risk rating of product: |
Medium-low |
| (6) Principal amount of subscription: |
RMB250,000,000 (equivalent to approximately HK$275,640,036_Note 6_) |
| (7) Term of investment: |
The term of investment of the 2024 2nd SITI Trust Wealth Management Product is subject to the redemption time of the subscriber. |
| (8) Expected rate of return: |
The performance of the 2024 2nd SITI 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 SITI Trust Wealth Management Product invests in: (i) liquid money market instruments and deposit instruments: including but not limited to cash, bond repurchases, bank deposits, large transferable certificates of deposit, etc. (ii) publicly issued bonds issued in the exchange or inter-bank market: treasury bonds, local government bonds, central bank bills, various financial bonds (subordinated bonds, hybrid capital bonds, etc.), enterprise bonds, corporate bonds, and various debt financing instruments issued through the registration of the competent authorities (short-term financing bills, super short-term financing bills, medium-term bills, etc.). (iii) non-public corporate bonds issued in the exchange or inter-bank market, convertible bonds (segregated convertible bonds, exchangeable bonds, etc.), non-public targeted debt financing instruments, asset securitisation products (asset-backed securities, asset-backed notes, income certificates, ABCP, etc.), REITs, and various fixed-income securities (debenture financing plans, etc.) approved or filed for issuance by the respective regulatory authorities. (iv) fixed income funds: including but not limited to money market funds, bond funds, and the priority of structured funds. (v) asset management plans of securities companies, asset management plans for specific clients of funds and their subsidiaries, etc. The investment scope of such asset management plans shall not exceed (i) to (iv) above. (vi) safeguard fund. |
| (10) Right of early termination: |
SITI is entitled to early termination of the 2024 2nd SITI Trust Wealth Management Product if there arises any adverse situation which affects the purpose of the 2024 2nd SITI Trust Wealth Management Agreement. |
| 2024 3rd SITI Trust Wealth Management Agreement | |
| (1)Date of subscription: |
13 May 2024 |
| (2) Name of product: |
SITI•Hui Ying No. 1 Bond Investment Collective Fund Trust Plan(陝國投•匯盈1 號債券投資集合資金信託計劃) |
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| (3) Parties: | (i) SITI as trustee (ii) Refrigerator Marketing Company as subscriber |
| (4) Type of product: |
Non-principal-guaranteed with floating return |
| (5) Risk rating of product: |
Medium-low |
| (6) Principal amount of subscription: |
RMB200,000,000 (equivalent to approximately HK$220,048,631_Note 7_) |
| (7) Term of investment: |
The term of investment of the 2024 3rd SITI Trust Wealth Management Product is subject to the redemption time of the subscriber. |
| (8) Expected rate of return: |
The performance of the 2024 3rd SITI 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 SITI Trust Wealth Management Product invests in: (i) liquid money market instruments and deposit instruments: including but not limited to cash, bond repurchases, bank deposits, large transferable certificates of deposit, etc. (ii) publicly issued bonds issued in the exchange or inter-bank market: treasury bonds, local government bonds, central bank bills, various financial bonds (subordinated bonds, hybrid capital bonds, etc.), enterprise bonds, corporate bonds, and various debt financing instruments issued through the registration of the competent authorities (short-term financing bills, super short-term financing bills, medium-term bills, etc.). (iii) non-public corporate bonds issued in the exchange or inter-bank market, convertible bonds (segregated convertible bonds, exchangeable bonds, etc.), non-public targeted debt financing instruments, asset securitisation products (asset-backed securities, asset-backed notes, income certificates, ABCP, etc.), REITs, and various fixed-income securities (debenture financing plans, etc.) approved or filed for issuance by the respective regulatory authorities. (iv) fixed income funds: including but not limited to money market funds, bond funds, and the priority of structured funds. (v) asset management plans of securities companies, asset management plans for specific clients of funds and their subsidiaries, etc. The investment scope of such asset management plans shall not exceed (i) to (iv) above. (vi) safeguard fund. |
| (10) Right of early termination: |
SITI is entitled to early termination of the 2024 3rd SITI Trust Wealth Management Product if there arises any adverse situation which affects the purpose of the 2024 3rd SITI Trust Wealth Management Agreement. |
| 2024 4th SITI Trust Wealth Management Agreement |
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| (1)Date of subscription: |
15 May 2024 |
|---|---|
| (2) Name of product: |
SITI•Hui Ying No. 1 Bond Investment Collective Fund Trust Plan(陝國投•匯盈1號債券投資集合資金信託計劃) |
| (3) Parties: | (i) SITI as trustee (ii) Air-conditioner Marketing Company as subscriber |
| (4) Type of product: |
Non-principal-guaranteed with floating return |
| (5) Risk rating of product: |
Medium-low |
| (6) Principal amount of subscription: |
RMB150,000,000 (equivalent to approximately HK$164,916,717_Note 8_) |
| (7) Term of investment: |
The term of investment of the 2024 4th SITI Trust Wealth Management Product is subject to the redemption time of the subscriber. |
| (8) Expected rate of return: |
The performance of the 2024 4th SITI 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 SITI Trust Wealth Management Product invests in: (i) liquid money market instruments and deposit instruments: including but not limited to cash, bond repurchases, bank deposits, large transferable certificates of deposit, etc. (ii) publicly issued bonds issued in the exchange or inter-bank market: treasury bonds, local government bonds, central bank bills, various financial bonds (subordinated bonds, hybrid capital bonds, etc.), enterprise bonds, corporate bonds, and various debt financing instruments issued through the registration of the competent authorities (short-term financing bills, super short-term financing bills, medium-term bills, etc.). (iii) non-public corporate bonds issued in the exchange or inter-bank market, convertible bonds (segregated convertible bonds, exchangeable bonds, etc.), non-public targeted debt financing instruments, asset securitisation products (asset-backed securities, asset-backed notes, income certificates, ABCP, etc.), REITs, and various fixed-income securities (debenture financing plans, etc.) approved or filed for issuance by the respective regulatory authorities. (iv) fixed income funds: including but not limited to money market funds, bond funds, and the priority of structured funds. (v) asset management plans of securities companies, asset management plans for specific clients of funds and their subsidiaries, etc. The investment scope of such asset management plans shall not exceed (i) to (iv) above. (vi) safeguard fund. |
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| (10) Right of early termination: |
SITI is entitled to early termination of the 2024 4th SITI Trust Wealth Management Product if there arises any adverse situation which affects the purpose of the 2024 4th SITI Trust Wealth Management Agreement. |
|---|---|
| 2024 5th SITI Trust Wealth Management Agreement | |
| (1)Date of subscription: |
6 June 2024 |
| (2) Name of product: |
SITI•Hui Ying No. 1 Bond Investment Collective Fund Trust Plan(陝國投•匯盈1號債券投資集合資金信託計劃) |
| (3) Parties: | (i) SITI as trustee (ii) Air-conditioner Marketing Company as subscriber |
| (4) Type of product: |
Non-principal-guaranteed with floating return |
| (5) Risk rating of product: |
Medium-low |
| (6) Principal amount of subscription: |
RMB100,000,000 (equivalent to approximately HK$109,816,497_Note 9_) |
| (7) Term of investment: |
The term of investment of the 2024 5th SITI Trust Wealth Management Product is subject to the redemption time of the subscriber. |
| (8) Expected rate of return: |
The performance of the 2024 5th SITI 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 SITI Trust Wealth Management Product invests in: (i) liquid money market instruments and deposit instruments: including but not limited to cash, bond repurchases, bank deposits, large transferable certificates of deposit, etc. (ii) publicly issued bonds issued in the exchange or inter-bank market: treasury bonds, local government bonds, central bank bills, various financial bonds (subordinated bonds, hybrid capital bonds, etc.), enterprise bonds, corporate bonds, and various debt financing instruments issued through the registration of the competent authorities (short-term financing bills, super short-term financing bills, medium-term bills, etc.). (iii) non-public corporate bonds issued in the exchange or inter-bank market, convertible bonds (segregated convertible bonds, exchangeable bonds, etc.), non-public targeted debt financing instruments, asset securitisation products (asset-backed securities, asset-backed notes, income certificates, ABCP, etc.), REITs, and various fixed-income securities (debenture financing plans, etc.) approved or filed for issuance by the respective regulatory authorities. (iv) fixed income funds: including but not limited to money market funds, bond funds, and the priority of structured funds. |
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| (v) asset management plans of securities companies, asset management plans for specific clients of funds and their subsidiaries, etc. The investment scope of such asset management plans shall not exceed (i) to (iv) above. (vi) safeguard fund. |
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|---|---|
| (10) Right of early termination: |
SITI is entitled to early termination of the 2024 5th SITI Trust Wealth Management Product if there arises any adverse situation which affects the purpose of the 2024 5th SITI Trust Wealth Management Agreement. |
| 2024 6th SITI Trust Wealth Management Agreement | |
| (1)Date of subscription: |
6 June 2024 |
| (2) Name of product: |
SITI•Hui Ying No. 1 Bond Investment Collective Fund Trust Plan(陝國投•匯盈1號債券投資集合資金信託計劃) |
| (3) Parties: | (i) SITI as trustee (ii) Refrigerator Marketing Company as subscriber |
| (4) Type of product: |
Non-principal-guaranteed with floating return |
| (5) Risk rating of product: |
Medium-low |
| (6) Principal amount of subscription: |
RMB150,000,000 (equivalent to approximately HK$164,724,745_Note 9_) |
| (7) Term of investment: |
The term of investment of the 2024 6th SITI Trust Wealth Management Product is subject to the redemption time of the subscriber. |
| (8) Expected rate of return: |
The performance of the 2024 6th SITI 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 SITI Trust Wealth Management Product invests in: (i) liquid money market instruments and deposit instruments: including but not limited to cash, bond repurchases, bank deposits, large transferable certificates of deposit, etc. (ii) publicly issued bonds issued in the exchange or inter-bank market: treasury bonds, local government bonds, central bank bills, various financial bonds (subordinated bonds, hybrid capital bonds, etc.), enterprise bonds, corporate bonds, and various debt financing instruments issued through the registration of the competent authorities (short-term financing bills, super short-term financing bills, medium-term bills, etc.). (iii) non-public corporate bonds issued in the exchange or inter-bank market, convertible bonds (segregated convertible bonds, exchangeable bonds, etc.), non-public targeted debt financing instruments, asset securitisation products (asset-backed securities, asset-backed notes, income certificates, |
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| ABCP, etc.), REITs, and various fixed-income securities (debenture financing plans, etc.) approved or filed for issuance by the respective regulatory authorities. (iv) fixed income funds: including but not limited to money market funds, bond funds, and the priority of structured funds. (v) asset management plans of securities companies, asset management plans for specific clients of funds and their subsidiaries, etc. The investment scope of such asset management plans shall not exceed (i) to (iv) above. (vi) safeguard fund. |
|
|---|---|
| (10) Right of early termination: |
SITI is entitled to early termination of the 2024 6th SITI Trust Wealth Management Product if there arises any adverse situation which affects the purpose of the 2024 6th SITI Trust Wealth Management Agreement. |
| 2024 7th SITI Trust Wealth Management Agreement | |
| (1)Date of subscription: |
6 June 2024 |
| (2) Name of product: |
SITI•Hui Ying No. 1 Bond Investment Collective Fund Trust Plan(陝國投•匯盈1號債券投資集合資金信託計劃) |
| (3) Parties: | (i) SITI as trustee (ii) Refrigerator Marketing Company as subscriber |
| (4) Type of product: |
Non-principal-guaranteed with floating return |
| (5) Risk rating of product: |
Medium-low |
| (6) Principal amount of subscription: |
RMB80,000,000 (equivalent to approximately HK$87,853,197_Note 9_) |
| (7) Term of investment: |
The term of investment of the 2024 7th SITI Trust Wealth Management Product is subject to the redemption time of the subscriber. |
| (8) Expected rate of return: |
The performance of the 2024 7th SITI 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 SITI Trust Wealth Management Product invests in: (i) liquid money market instruments and deposit instruments: including but not limited to cash, bond repurchases, bank deposits, large transferable certificates of deposit, etc. (ii) publicly issued bonds issued in the exchange or inter-bank market: treasury bonds, local government bonds, central bank bills, various financial bonds (subordinated bonds, hybrid capital bonds, etc.), enterprise bonds, corporate bonds, and various debt financing instruments issued through the registration of the competent authorities (short-term financing bills, super short-term financing bills, medium-term bills, etc.). |
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| (iii) non-public corporate bonds issued in the exchange or inter-bank market, convertible bonds (segregated convertible bonds, exchangeable bonds, etc.), non-public targeted debt financing instruments, asset securitisation products (asset-backed securities, asset-backed notes, income certificates, ABCP, etc.), REITs, and various fixed-income securities (debenture financing plans, etc.) approved or filed for issuance by the respective regulatory authorities. (iv) fixed income funds: including but not limited to money market funds, bond funds, and the priority of structured funds. (v) asset management plans of securities companies, asset management plans for specific clients of funds and their subsidiaries, etc. The investment scope of such asset management plans shall not exceed (i) to (iv) above. (vi) safeguard fund. |
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|---|---|
| (10) Right of early termination: |
SITI is entitled to early termination of the 2024 7th SITI Trust Wealth Management Product if there arises any adverse situation which affects the purpose of the 2024 7th SITI Trust Wealth Management Agreement. |
| 2024 8th SITI Trust Wealth Management Agreement | |
| (1)Date of subscription: |
12 June 2024 |
| (2) Name of product: |
SITI•Hui Ying No. 1 Bond Investment Collective Fund Trust Plan(陝國投•匯盈1號債券投資集合資金信託計劃) |
| (3) Parties: | (i) SITI as trustee (ii) the Company as subscriber |
| (4) Type of product: |
Non-principal-guaranteed with floating return |
| (5) Risk rating of product: |
Medium-low |
| (6) Principal amount of subscription: |
RMB150,000,000 (equivalent to approximately HK$164,688,574_Note 10_) |
| (7) Term of investment: |
The term of investment of the 2024 8th SITI Trust Wealth Management Product is subject to the redemption time of the subscriber. |
| (8) Expected rate of return: |
The performance of the 2024 8th SITI 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 8th SITI Trust Wealth Management Product invests in: (i) liquid money market instruments and deposit instruments: including but not limited to cash, bond repurchases, bank deposits, large transferable certificates of deposit, etc. (ii) publicly issued bonds issued in the exchange or inter-bank market: treasury bonds, local government bonds, central bank bills, various financial bonds (subordinated bonds, hybrid capital bonds, etc.), enterprise bonds, |
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| corporate bonds, and various debt financing instruments issued through the registration of the competent authorities (short-term financing bills, super short-term financing bills, medium-term bills, etc.). (iii) non-public corporate bonds issued in the exchange or inter-bank market, convertible bonds (segregated convertible bonds, exchangeable bonds, etc.), non-public targeted debt financing instruments, asset securitisation products (asset-backed securities, asset-backed notes, income certificates, ABCP, etc.), REITs, and various fixed-income securities (debenture financing plans, etc.) approved or filed for issuance by the respective regulatory authorities. (iv) fixed income funds: including but not limited to money market funds, bond funds, and the priority of structured funds. (v) asset management plans of securities companies, asset management plans for specific clients of funds and their subsidiaries, etc. The investment scope of such asset management plans shall not exceed (i) to (iv) above. (vi) safeguard fund. |
|
|---|---|
| (10) Right of early termination: |
SITI is entitled to early termination of the 2024 8th SITI Trust Wealth Management Product if there arises any adverse situation which affects the purpose of the 2024 8th SITI Trust Wealth Management Agreement. |
| 2024 9th SITI Trust Wealth Management Agreement | |
| (1)Date of subscription: |
19 June 2024 |
| (2) Name of product: |
SITI•Hui Ying No. 1 Bond Investment Collective Fund Trust Plan(陝國投•匯盈1號債券投資集合資金信託計劃) |
| (3) Parties: | (i) SITI as trustee (ii) Refrigerator Marketing Company as subscriber |
| (4) Type of product: |
Non-principal-guaranteed with floating return |
| (5) Risk rating of product: |
Medium-low |
| (6) Principal amount of subscription: |
RMB100,000,000 (equivalent to approximately HK$109,724,920_Note 11_) |
| (7) Term of investment: |
The term of investment of the 2024 9th SITI Trust Wealth Management Product is subject to the redemption time of the subscriber. |
| (8) Expected rate of return: |
The performance of the 2024 9th SITI 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 9th SITI Trust Wealth Management Product invests in: (i) liquid money market instruments and deposit instruments: including but not limited to cash, bond repurchases, bank deposits, large transferable certificates of deposit, etc. (ii) publicly issued bonds issued in the exchange or inter-bank market: treasury bonds, local government bonds, central bank bills, various financial bonds (subordinated bonds, hybrid capital bonds, etc.), enterprise bonds, corporate bonds, and various debt financing instruments issued through the registration of the competent authorities (short-term financing bills, super short-term financing bills, medium-term bills, etc.). (iii) non-public corporate bonds issued in the exchange or inter-bank market, convertible bonds (segregated convertible bonds, exchangeable bonds, etc.), non-public targeted debt financing instruments, asset securitisation products (asset-backed securities, asset-backed notes, income certificates, ABCP, etc.), REITs, and various fixed-income securities (debenture financing plans, etc.) approved or filed for issuance by the respective regulatory authorities. (iv) fixed income funds: including but not limited to money market funds, bond funds, and the priority of structured funds. (v) asset management plans of securities companies, asset management plans for specific clients of funds and their subsidiaries, etc. The investment scope of such asset management plans shall not exceed (i) to (iv) above. (vi) safeguard fund. |
|---|---|
| (10) Right of early termination: |
SITI is entitled to early termination of the 2024 9th SITI Trust Wealth Management Product if there arises any adverse situation which affects the purpose of the 2024 9th SITI Trust Wealth Management Agreement. |
| 2024 10th SITI Trust Wealth Management Agreement | |
|---|---|
| (1)Date of subscription: |
4 July 2024 |
| (2) Name of product: |
SITI•Hui Ying No. 1 Bond Investment Collective Fund Trust Plan(陝國投•匯盈1號債券投資集合資金信託計劃) |
| (3) Parties: | (i) SITI as trustee (ii) the Company as subscriber |
| (4) Type of product: |
Non-principal-guaranteed with floating return |
| (5) Risk rating of product: |
Medium-low |
| (6) Principal amount of subscription: |
RMB250,000,000 (equivalent to approximately HK$273,852,558_Note 12_) |
| (7) Term of investment: |
The term of investment of the 2024 10th SITI Trust Wealth Management Product is subject to the redemption time of the subscriber. |
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| (8) Expected rate of return: |
The performance of the 2024 10th SITI 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 SITI Trust Wealth Management Product invests in: (i) liquid money market instruments and deposit instruments: including but not limited to cash, bond repurchases, bank deposits, large transferable certificates of deposit, etc. (ii) publicly issued bonds issued in the exchange or inter-bank market: treasury bonds, local government bonds, central bank bills, various financial bonds (subordinated bonds, hybrid capital bonds, etc.), enterprise bonds, corporate bonds, and various debt financing instruments issued through the registration of the competent authorities (short-term financing bills, super short-term financing bills, medium-term bills, etc.). (iii) non-public corporate bonds issued in the exchange or inter-bank market, convertible bonds (segregated convertible bonds, exchangeable bonds, etc.), non-public targeted debt financing instruments, asset securitisation products (asset-backed securities, asset-backed notes, income certificates, ABCP, etc.), REITs, and various fixed-income securities (debenture financing plans, etc.) approved or filed for issuance by the respective regulatory authorities. (iv) fixed income funds: including but not limited to money market funds, bond funds, and the priority of structured funds. (v) asset management plans of securities companies, asset management plans for specific clients of funds and their subsidiaries, etc. The investment scope of such asset management plans shall not exceed (i) to (iv) above. (vi) safeguard fund. |
| (10) Right of early termination: |
SITI is entitled to early termination of the 2024 10th SITI Trust Wealth Management Product if there arises any adverse situation which affects the purpose of the 2024 10th SITI Trust Wealth Management Agreement. |
To the best of the Directors’ knowledge, information and belief having made all reasonable enquiry, SITI 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 SITI 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 SITI Trust Wealth Management Products are on normal commercial terms, fair and reasonable, and in the interests of the Company and Shareholders as a whole.
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IMPLICATION UNDER THE LISTING RULES
Each of the SITI 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 SITI 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 SITI 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 COMPANY, AIR-CONDITIONER MARKETING COMPANY, REFRIGERATOR MARKETING COMPANY AND SITI
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 airconditioners, freezers, washing machines, kitchen appliances, etc and automotive air conditioner compressor and integrated thermal management system.
Air-conditioner Marketing Company
Air-conditioner Marketing Company is a company established in the PRC and a non-wholly owned subsidiary of the Company, which is principally engaged in the sales of refrigeration and air-conditioning equipment; sales of household appliances; installation services for household appliances; technical services, technical development, technical consultation, technical transfer, technical promotion; repair of daily-use appliances.
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.
SITI
SITI is a non-bank financial institution incorporated under the laws of the PRC and listed on the Shenzhen Stock Exchange (Stock code: 000563) which is principally engaged in the business of capital trust, movable asset trust and real estate trust, etc. The ultimate beneficial owner of SITI is the State-owned Assets Supervision and Administration Commission of Shaanxi Provincial People’s Government.
LIST OF SITI TRUST WEALTH MANAGEMENT AGREEMENTS
| Name of agreement | Date of agreement / announcement |
Subscriber | Wealth management products subscribed |
|
|---|---|---|---|---|
17
| 2023 1st SITI Trust Wealth Management Agreement |
28 June 2023 (agreement) / 4 July 2024 (announcement) |
the Company | 2023 1st SITI Trust Wealth Management Product |
|---|---|---|---|
| 2023 2nd SITI Trust Wealth Management Agreement |
21 September 2023 (agreement) / 4 July 2024 (announcement) |
Refrigerator Marketing Company |
2023 2nd SITI Trust Wealth Management Product |
| 2023 3rd SITI Trust Wealth Management Agreement |
23 November 2023 (agreement) / 4 July 2024 (announcement) |
the Company | 2023 3rd SITI Trust Wealth Management Product |
| 2024 1st SITI Trust Wealth Management Agreement |
5 January 2024 (agreement) / 4 July 2024 (announcement) |
Refrigerator Marketing Company |
2024 1st SITI Trust Wealth Management Product |
| 2024 2nd SITI Trust Wealth Management Agreement |
27 March 2024 (agreement) / 4 July 2024 (announcement) |
the Company | 2024 2nd SITI Trust Wealth Management Product |
| 2024 3rd SITI Trust Wealth Management Agreement |
13 May 2024 (agreement) / 4 July 2024 (announcement) |
Refrigerator Marketing Company |
2024 3rd SITI Trust Wealth Management Product |
| 2024 4th SITI Trust Wealth Management Agreement |
15 May 2024 (agreement) / 4 July 2024 (announcement) |
Air-conditioner Marketing Company |
2024 4th SITI Trust Wealth Management Product |
| 2024 5th SITI Trust Wealth Management Agreement |
6 June 2024 (agreement) / 4 July 2024 (announcement) |
Air-conditioner Marketing Company |
2024 5th SITI Trust Wealth Management Product |
| 2024 6th SITI Trust Wealth Management Agreement |
6 June 2024 (agreement) / 4 July 2024 (announcement) |
Refrigerator Marketing Company |
2024 6th SITI Trust Wealth Management Product |
| 2024 7th SITI Trust Wealth Management Agreement |
6 June 2024 (agreement) / 4 July 2024 (announcement) |
Refrigerator Marketing Company |
2024 7th SITI Trust Wealth Management Product |
| 2024 8th SITI Trust Wealth Management Agreement |
12 June 2024 (agreement) / 4 July 2024 (announcement) |
the Company | 2024 8th SITI Trust Wealth Management Product |
18
| 2024 9th SITI Trust Wealth Management Agreement |
19 June 2024 (agreement) / 4 July 2024 (announcement) |
Refrigerator Marketing Company |
2024 9th SITI Trust Wealth Management Product |
|
|---|---|---|---|---|
The aggregate subscription amount of the SITI Trust Wealth Management Products above (excluding the 2024 10th SITI Trust Wealth Management Product) is RMB1,980,000,000 (equivalent to approximately HK$2,171,747,838 [Note 1] ).
DEFINITIONS
In this announcement, unless the context otherwise requires, the following terms have the meanings set out below:
“2023 1st SITI Trust Wealth Management Agreement”
the wealth management agreement entered into between the Company and SITI on 28 June 2023 in relation to the subscription of the 2023 1st SITI Trust Wealth Management Product;
“2023 2nd SITI Trust Wealth Management Agreement”
the wealth management agreement entered into between Refrigerator Marketing Company and SITI on 21 September 2023 in relation to the subscription of the 2023 2nd SITI Trust Wealth Management Product;
“2023 3rd SITI Trust Wealth Management Agreement”
the wealth management agreement entered into between the Company and SITI on 23 November 2023 in relation to the subscription of the 2023 3rd SITI Trust Wealth Management Product;
“2024 1st SITI Trust Wealth Management Agreement”
the wealth management agreement entered into between Refrigerator Marketing Company and SITI on 5 January 2024 in relation to the subscription of the 2024 1st SITI Trust Wealth Management Product;
“2024 2nd SITI Trust Wealth Management Agreement”
the wealth management agreement entered into between the Company and SITI on 27 March 2024 in relation to the subscription of the 2024 2nd SITI Trust Wealth Management Product;
“2024 3rd SITI Trust Wealth Management Agreement”
the wealth management agreement entered into between Refrigerator Marketing Company and SITI on 13 May 2024 in relation to the subscription of the 2024 3rd SITI Trust Wealth Management Product;
“2024 4th SITI Trust Wealth Management Agreement”
the wealth management agreement entered into between Air-conditioner Marketing Company and SITI on 15 May 2024 in relation to the subscription of the 2024 4th SITI Trust Wealth Management Product;
“2024 5th SITI Trust Wealth Management Agreement”
the wealth management agreement entered into between Air-conditioner Marketing Company and SITI on 6 June 2024 in relation to the subscription of the 2024 5th SITI Trust Wealth Management Product;
“2024 6th SITI Trust Wealth Management Agreement”
the wealth management agreement entered into between Refrigerator Marketing Company and SITI on 6 June 2024 in relation to the subscription of the 2024 6th SITI Trust Wealth Management Product;
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“2024 7th SITI Trust Wealth Management Agreement”
“2024 8th SITI Trust Wealth Management Agreement”
“2024 9th SITI Trust Wealth Management Agreement”
“2024 10th SITI Trust Wealth Management Agreement”
“2023 1st SITI Trust Wealth Management Product”
“2023 2nd SITI Trust Wealth Management Product”
“2023 3rd SITI Trust Wealth Management Product”
“2024 1st SITI Trust Wealth Management Product”
“2024 2nd SITI Trust Wealth Management Product”
“2024 3rd SITI Trust Wealth Management Product”
“2024 4th SITI Trust Wealth Management Product”
“2024 5th SITI Trust Wealth Management Product”
the wealth management agreement entered into between Refrigerator Marketing Company and SITI on 6 June 2024 in relation to the subscription of the 2024 7th SITI Trust Wealth Management Product;
the wealth management agreement entered into between the Company and SITI on 12 June 2024 in relation to the subscription of the 2024 8th SITI Trust Wealth Management Product;
the wealth management agreement entered into between Refrigerator Marketing Company and SITI on 19 June 2024 in relation to the subscription of the 2024 9th SITI Trust Wealth Management Product;
the wealth management agreement entered into between the Company and SITI on 4 July 2024 in relation to the subscription of the 2024 10th SITI Trust Wealth Management Product;
the wealth management product subscribed under the 2023 1st SITI Trust Wealth Management Agreement, the major terms of which are summarised in this announcement;
the wealth management product subscribed under the 2023 2nd SITI Trust Wealth Management Agreement, the major terms of which are summarised in this announcement;
the wealth management product subscribed under the 2023 3rd SITI Trust Wealth Management Agreement, the major terms of which are summarised in this announcement;
the wealth management product subscribed under the 2024 1st SITI Trust Wealth Management Agreement, the major terms of which are summarised in this announcement;
the wealth management product subscribed under the 2024 2nd SITI Trust Wealth Management Agreement, the major terms of which are summarised in this announcement;
the wealth management product subscribed under the 2024 3rd SITI Trust Wealth Management Agreement, the major terms of which are summarised in this announcement;
the wealth management product subscribed under the 2024 4th SITI Trust Wealth Management Agreement, the major terms of which are summarised in this announcement;
the wealth management product subscribed under the 2024 5th SITI Trust Wealth Management Agreement, the major terms of which are summarised in this announcement;
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“2024 6th SITI Trust Wealth Management Product”
the wealth management product subscribed under the 2024 6th SITI Trust Wealth Management Agreement, the major terms of which are summarised in this announcement;
“2024 7th SITI Trust Wealth Management Product”
the wealth management product subscribed under the 2024 7th SITI Trust Wealth Management Agreement, the major terms of which are summarised in this announcement;
“2024 8th SITI Trust Wealth Management Product”
the wealth management product subscribed under the 2024 8th SITI Trust Wealth Management Agreement, the major terms of which are summarised in this announcement;
“2024 9th SITI Trust Wealth Management Product”
the wealth management product subscribed under the 2024 9th SITI Trust Wealth Management Agreement, the major terms of which are summarised in this announcement;
“2024 10th SITI Trust Wealth Management Product”
the wealth management product subscribed under the 2024 10th SITI Trust Wealth Management Agreement, the major terms of which are summarised in this announcement;
“Air-conditioner Marketing Company”
Qingdao Hisense Air-conditioner Marketing Co., Ltd.*(青島海信空調營 銷股份有限公司), a non-wholly owned subsidiary of the Company
“Board”
the board of directors of the Company;
“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;
“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;
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| “Renminbi” or “RMB” | Renminbi, the lawful currency of the PRC; |
|---|---|
| “Shareholder(s)” | the shareholder(s) of the Company; |
| “SITI” | Shaanxi International Trust Co., Ltd.*(陝西省國際信託股份有限公司), |
| a non-bank financial institution incorporated under the laws of the PRC; | |
| “SITI Trust Wealth | the SITI Trust wealth management agreements as listed in the section |
| Management | headed “List of SITI Trust Wealth Management Agreements” in this |
| Agreements” | announcement and the 2024 10th SITI Trust Wealth Management |
| Agreement; | |
| “SITI Trust Wealth | the wealth management products subscribed under the SITI Trust Wealth |
| Management Products” | Management Agreements; |
| “%” | 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 SITI 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 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 RMB0.92055 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 RMB0.91693 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 RMB0.91329 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 RMB0.90939 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 RMB0.90698 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 RMB0.90889 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 RMB0.90955 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.
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9. This amount has been converted from RMB into HK$ at an exchange rate of RMB0.91061 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.
11. This amount has been converted from RMB into HK$ at an exchange rate of RMB0.91137 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.
12. This amount has been converted from RMB into HK$ at an exchange rate of RMB0.91290 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, 4 July 2024
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. Cheung Sai Kit, Mr. Li Zhi Gang and Mr. Tsoi Wing Sing.
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