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Medlive Technology Co., Ltd. — Capital/Financing Update 2024
Jan 16, 2024
50436_rns_2024-01-16_8824d134-c636-474d-9706-42e594588163.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
At the first meeting for the year 2023 held by the eleventh session of the Directors on 30 March 2023 and the 2022 annual general meeting of the Company held on 29 June 2023, 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 RMB14,000,000,000 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 Cofco Trust Wealth Management Agreements in relation to subscription of wealth management products by the Company and its subsidiaries (as subscribers) from Cofco Trust Wealth Management (as issuer), further particulars of which are listed out in the section headed “List of Cofco Trust Wealth Management Agreements” in this announcement.
The Board is pleased to announce that, during the period from 19 June 2023 to 16 January 2024, the Company and its non-wholly owned subsidiaries, Air-conditioner Marketing Company and Refrigerator Marketing Company as subscribers entered into the Cofco Trust Wealth Management Agreements to subscribe for the Cofco Trust Wealth Management Products in an aggregate subscription amount of RMB1,600,000,000 (equivalent to approximately HK$1,755,531,073 [Note 1] ).
The Group utilised its idle funds for the payment of the subscription amount under each of the Cofco Trust Wealth Management Agreements.
Each of the Cofco Trust Wealth Management Agreements by itself does not constitute 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 relevant subscription amounts under the Cofco Trust Wealth Management Agreements are aggregated, the relevant applicable percentage ratios (as defined under the Listing Rules) of the transactions under the Cofco Trust Wealth Management Agreements exceed 5% but are lower than 25%. Therefore, the transactions under the Cofco 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.
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At the first meeting for the year 2023 held by the eleventh session of the Directors on 30 March 2023 and the 2022 annual general meeting of the Company held on 29 June 2023, 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 RMB14,000,000,000 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 Cofco Trust Wealth Management Agreements in relation to subscription of wealth management products by the Company and its subsidiaries (as subscribers) from Cofco Trust Wealth Management (as issuer), further particulars of which are listed out in the section headed “List of Cofco Trust Wealth Management Agreements” in this announcement.
The Board is pleased to announce that, during the period from 19 June 2023 to 16 January 2024, the Company and its non-wholly owned subsidiaries, Air-conditioner Marketing Company and Refrigerator Marketing Company as subscribers entered into the Cofco Trust Wealth Management Agreements to subscribe for the Cofco Trust Wealth Management Products in an aggregate subscription amount of RMB1,600,000,000 (equivalent to approximately HK$1,755,531,073 [Note 1] ).
The Group utilised its idle funds for the payment of the subscription amount under each of the Cofco Trust Wealth Management Agreements. Summarised below are the major terms of Cofco Trust Wealth Management Agreements:
| 2023 1st Cofco Trust Wealth Management Agreement | |
|---|---|
| (1)Date of subscription: |
19 June 2023 |
| (2) Name of product: |
Cofco Trust•Harvest No. 1 Collective Fund Trust Plan(中糧信託•豐收1 號集合資金信託計劃) |
| (3) Parties: | (i) Cofco Trust as trustee (ii) Air-conditioner Marketing Company as subscriber |
| To the best of the Directors’ knowledge, information and belief having made all reasonable enquiry, Cofco Trust and its ultimate beneficial owner(s) are third parties independent of the Company and its connected persons. |
|
| (4) Type of product: |
Fixed income |
| (5) Risk rating of product: |
Medium-low |
| (6) Principal amount of subscription: |
RMB250,000,000 (equivalent to approximately HK$274,664,909_Note 2_) |
| (7) Currency of subscription: |
Renminbi |
| (8) Term of | Every Working Day is an open day for subscriptions and redemptions, so the |
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| investment: | term of investment of the 2023 1st Cofco Trust Wealth Management Product is subject to the redemption time of the subscriber. |
|---|---|
| (9) Expected rate of return: |
The performance of the 2023 1st Cofco 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. |
| (10) Investment scope of the product: |
The 2023 1st Cofco Trust Wealth Management Product invests in bank deposits, large depository receipts, interbank depository receipts, interbank/exchange bonds, bond repurchase (to the extent permitted by laws and regulations or regulatory filings), bond lending, currency funds, public bond funds, short-term financing bonds (including ultra-short-term financing bonds), intermediate-term notes, pooled notes, convertible bonds (including exchangeable bonds), PPN, non-publicly traded corporate bonds, asset-backed securities, subordinated bonds, pure bonds of separately traded bonds, and only invest in the above underlying bank wealth management products, securities company/fund company/insurance company asset management plans, trust company asset management plans, China trust industry protection fund and other standardized debt asset investments approved by the regulatory authorities. |
| (11) Payment of return on principal upon maturity: |
The principal and return (if any) will be deposited to the designated account of the subscriber within 10 Working Days after the redemption date. |
| (12) Right of early termination: |
Cofco Trust is entitled to early termination of the 2023 1st Cofco Trust Wealth Management Product. |
| 2023 2nd Cofco Trust Wealth Management Agreement | |
| (1)Date of subscription: |
26 June 2023 |
| (2) Name of product: |
Cofco Trust•Harvest No. 1 Collective Fund Trust Plan(中糧信託•豐收1號集合資金信託計劃) |
| (3) Parties: | (i) Cofco Trust as trustee (ii) the Company as subscriber |
| To the best of the Directors’ knowledge, information and belief having made all reasonable enquiry, Cofco Trust and its ultimate beneficial owner(s) are third parties independent of the Company and its connected persons. |
|
| (4) Type of product: |
Fixed income |
| (5) Risk rating of product: |
Medium-low |
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| (6) Principal amount of subscription: |
RMB250,000,000 (equivalent to approximately HK$271,700,738_Note 3_) |
|---|---|
| (7) Currency of subscription: |
Renminbi |
| (8) Term of investment: |
Every Working Day is an open day for subscriptions and redemptions, so the term of investment of the 2023 2nd Cofco Trust Wealth Management Product is subject to the redemption time of the subscriber. |
| (9) Expected rate of return: |
The performance of the 2023 2nd Cofco 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. |
| (10) Investment scope of the product: |
The 2023 2nd Cofco Trust Wealth Management Product invests in bank deposits, large depository receipts, interbank depository receipts, interbank/exchange bonds, bond repurchase (to the extent permitted by laws and regulations or regulatory filings), bond lending, currency funds, public bond funds, short-term financing bonds (including ultra-short-term financing bonds), intermediate-term notes, pooled notes, convertible bonds (including exchangeable bonds), PPN, non-publicly traded corporate bonds, asset-backed securities, subordinated bonds, pure bonds of separately traded bonds, and only invest in the above underlying bank wealth management products, securities company/fund company/insurance company asset management plans, trust company asset management plans, China trust industry protection fund and other standardized debt asset investments approved by the regulatory authorities. |
| (11) Payment of return on principal upon maturity: |
The principal and return (if any) will be deposited to the designated account of the subscriber within 10 Working Days after the redemption date. |
| (12) Right of early termination: |
Cofco Trust is entitled to early termination of the 2023 2nd Cofco Trust Wealth Management Product. |
| 2023 3rd Cofco Trust Wealth Management Agreement | |
| (1)Date of subscription: |
19 July 2023 |
| (2) Name of product: |
Cofco Trust•Harvest No. 1 Collective Fund Trust Plan(中糧信託•豐收1號集合資金信託計劃) |
| (3) Parties: | (i) Cofco Trust as trustee (ii) Air-conditioner Marketing Company as subscriber |
| To the best of the Directors’knowledge, information and belief having made |
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| all reasonable enquiry, Cofco Trust and its ultimate beneficial owner(s) are third parties independent of the Company and its connected persons. |
|
|---|---|
| (4) Type of product: |
Fixed income |
| (5) Risk rating of product: |
Medium-low |
| (6) Principal amount of subscription: |
RMB100,000,000 (equivalent to approximately HK$109,301,563_Note 4_) |
| (7) Currency of subscription: |
Renminbi |
| (8) Term of investment: |
Every Working Day is an open day for subscriptions and redemptions, so the term of investment of the 2023 3rd Cofco Trust Wealth Management Product is subject to the redemption time of the subscriber. |
| (9) Expected rate of return: |
The performance of the 2023 3rd Cofco 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. |
| (10) Investment scope of the product: |
The 2023 3rd Cofco Trust Wealth Management Product invests in bank deposits, large depository receipts, interbank depository receipts, interbank/exchange bonds, bond repurchase (to the extent permitted by laws and regulations or regulatory filings), bond lending, currency funds, public bond funds, short-term financing bonds (including ultra-short-term financing bonds), intermediate-term notes, pooled notes, convertible bonds (including exchangeable bonds), PPN, non-publicly traded corporate bonds, asset-backed securities, subordinated bonds, pure bonds of separately traded bonds, and only invest in the above underlying bank wealth management products, securities company/fund company/insurance company asset management plans, trust company asset management plans, China trust industry protection fund and other standardized debt asset investments approved by the regulatory authorities. |
| (11) Payment of return on principal upon maturity: |
The principal and return (if any) will be deposited to the designated account of the subscriber within 10 Working Days after the redemption date. |
| (12) Right of early termination: |
Cofco Trust is entitled to early termination of the 2023 3rd Cofco Trust Wealth Management Product. |
| 2023 4th Cofco Trust Wealth Management Agreement | |
| (1)Date of subscription: |
18 December 2023 |
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| (2) Name of product: |
Cofco Trust•Harvest No. 1 Collective Fund Trust Plan(中糧信託•豐收1號集合資金信託計劃) |
|---|---|
| (3) Parties: | (i) Cofco Trust as trustee (ii) Air-conditioner Marketing Company as subscriber |
| To the best of the Directors’ knowledge, information and belief having made all reasonable enquiry, Cofco Trust and its ultimate beneficial owner(s) are third parties independent of the Company and its connected persons. |
|
| (4) Type of product: |
Fixed income |
| (5) Risk rating of product: |
Medium-low |
| (6) Principal amount of subscription: |
RMB300,000,000 (equivalent to approximately HK$329,960,405_Note 5_) |
| (7) Currency of subscription: |
Renminbi |
| (8) Term of investment: |
Every Working Day is an open day for subscriptions and redemptions, so the term of investment of the 2023 4th Cofco Trust Wealth Management Product is subject to the redemption time of the subscriber. |
| (9) Expected rate of return: |
The performance of the 2023 4th Cofco 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. |
| (10) Investment scope of the product: |
The 2023 4th Cofco Trust Wealth Management Product invests in bank deposits, large depository receipts, interbank depository receipts, interbank/exchange bonds, bond repurchase (to the extent permitted by laws and regulations or regulatory filings), bond lending, currency funds, public bond funds, short-term financing bonds (including ultra-short-term financing bonds), intermediate-term notes, pooled notes, convertible bonds (including exchangeable bonds), PPN, non-publicly traded corporate bonds, asset-backed securities, subordinated bonds, pure bonds of separately traded bonds, and only invest in the above underlying bank wealth management products, securities company/fund company/insurance company asset management plans, trust company asset management plans, China trust industry protection fund and other standardized debt asset investments approved by the regulatory authorities. |
| (11) Payment of return on principal upon maturity: |
The principal and return (if any) will be deposited to the designated account of the subscriber within 10 Working Days after the redemption date. |
| (12) Right of early termination: |
Cofco Trust is entitled to early termination of the 2023 4th Cofco Trust Wealth Management Product. |
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| 2024 1st Cofco Trust Wealth Management Agreement | |
|---|---|
| (1)Date of subscription: |
3 January 2024 |
| (2) Name of product: |
Cofco Trust•Harvest No. 1 Collective Fund Trust Plan (中糧信託•豐收1號集合資金信託計劃) |
| (3) Parties: | (i) Cofco Trust as trustee (ii) Air-conditioner Company as subscriber |
| To the best of the Directors’ knowledge, information and belief having made all reasonable enquiry, Cofco Trust and its ultimate beneficial owner(s) are third parties independent of the Company and its connected persons. |
|
| (4) Type of product: |
Fixed income |
| (5) Risk rating of product: |
Medium-low |
| (6) Principal amount of subscription: |
RMB150,000,000 (equivalent to approximately HK$165,081,881_Note 6_) |
| (7) Currency of subscription: |
Renminbi |
| (8) Term of investment: |
Every Working Day is an open day for subscriptions and redemptions, so the term of investment of the 2024 1st Cofco Trust Wealth Management Product is subject to the redemption time of the subscriber. |
| (9) Expected rate of return: |
The performance of the 2024 1st Cofco 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. |
| (10) Investment scope of the product: |
The 2024 1st Cofco Trust Wealth Management Product invests in bank deposits, large depository receipts, interbank depository receipts, interbank/exchange bonds, bond repurchase (to the extent permitted by laws and regulations or regulatory filings), bond lending, currency funds, public bond funds, short-term financing bonds (including ultra-short-term financing bonds), intermediate-term notes, pooled notes, convertible bonds (including exchangeable bonds), PPN, non-publicly traded corporate bonds, asset-backed securities, subordinated bonds, pure bonds of separately traded bonds, and only invest in the above underlying bank wealth management products, securities company/fund company/insurance company asset management plans, trust company asset management plans, China trust industry protection fund and other standardized debt asset investments approved by the regulatory authorities. |
| (11) Payment of return on principal upon |
The principal and return (if any) will be deposited to the designated account of the subscriber within 10 Working Days after the redemption date. |
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| maturity: | |
|---|---|
| (12) Right of early termination: |
Cofco Trust is entitled to early termination of the 2024 1st Cofco Trust Wealth Management Product. |
| 2024 2nd Cofco Trust Wealth Management Agreement | |
| (1)Date of subscription: |
11 January 2024 |
| (2) Name of product: |
Cofco Trust•Harvest No. 1 Collective Fund Trust Plan(中糧信託•豐收1號集合資金信託計劃) |
| (3) Parties: | (i) Cofco Trust as trustee (ii) Refrigerator Marketing Company as subscriber |
| To the best of the Directors’ knowledge, information and belief having made all reasonable enquiry, Cofco Trust and its ultimate beneficial owner(s) are third parties independent of the Company and its connected persons. |
|
| (4) Type of product: |
Fixed income |
| (5) Risk rating of product: |
Medium-low |
| (6) Principal amount of subscription: |
RMB350,000,000 (equivalent to approximately HK$384,881,841_Note 7_) |
| (7) Currency of subscription: |
Renminbi |
| (8) Term of investment: |
Every Working Day is an open day for subscriptions and redemptions, so the term of investment of the 2024 2nd Cofco Trust Wealth Management Product is subject to the redemption time of the subscriber. |
| (9) Expected rate of return: |
The performance of the 2024 2nd Cofco 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. |
| (10) Investment scope of the product: |
The 2024 2nd Cofco Trust Wealth Management Product invests in bank deposits, large depository receipts, interbank depository receipts, interbank/exchange bonds, bond repurchase (to the extent permitted by laws and regulations or regulatory filings), bond lending, currency funds, public bond funds, short-term financing bonds (including ultra-short-term financing bonds), intermediate-term notes, pooled notes, convertible bonds (including exchangeable bonds), PPN, non-publicly traded corporate bonds, asset-backed securities, subordinated bonds, pure bonds of separately traded bonds, and only invest in the above underlying bank wealth management products, securities company/fund company/insurance company asset management plans, trust |
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| company asset management plans, China trust industry protection fund and other standardized debt asset investments approved by the regulatory authorities. |
|
|---|---|
| (11) Payment of return on principal upon maturity: |
The principal and return (if any) will be deposited to the designated account of the subscriber within 10 Working Days after the redemption date. |
| (12) Right of early termination: |
Cofco Trust is entitled to early termination of the 2024 2nd Cofco Trust Wealth Management Product. |
| 2024 3rd Cofco Trust Wealth Management Agreement | |
|---|---|
| (1)Date of subscription: |
16 January 2024 |
| (2) Name of product: |
Cofco Trust•Harvest No. 1 Collective Fund Trust Plan(中糧信託•豐收1號集合資金信託計劃) |
| (3) Parties: | (i) Cofco Trust as trustee (ii) Refrigerator Marketing Company as subscriber |
| To the best of the Directors’ knowledge, information and belief having made all reasonable enquiry, Cofco Trust and its ultimate beneficial owner(s) are third parties independent of the Company and its connected persons. |
|
| (4) Type of product: |
Fixed income |
| (5) Risk rating of product: |
Medium-low |
| (6) Principal amount of subscription: |
RMB200,000,000 (equivalent to approximately HK$219,939,737_Note 8_) |
| (7) Currency of subscription: |
Renminbi |
| (8) Term of investment: |
Every Working Day is an open day for subscriptions and redemptions, so the term of investment of the 2024 3rd Cofco Trust Wealth Management Product is subject to the redemption time of the subscriber. |
| (9) Expected rate of return: |
The performance of the 2024 3rd Cofco 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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| (10) Investment scope of the product: |
The 2024 3rd Cofco Trust Wealth Management Product invests in bank deposits, large depository receipts, interbank depository receipts, interbank/exchange bonds, bond repurchase (to the extent permitted by laws and regulations or regulatory filings), bond lending, currency funds, public bond funds, short-term financing bonds (including ultra-short-term financing bonds), intermediate-term notes, pooled notes, convertible bonds (including exchangeable bonds), PPN, non-publicly traded corporate bonds, asset-backed securities, subordinated bonds, pure bonds of separately traded bonds, and only invest in the above underlying bank wealth management products, securities company/fund company/insurance company asset management plans, trust company asset management plans, China trust industry protection fund and other standardized debt asset investments approved by the regulatory authorities. |
|---|---|
| (11) Payment of return on principal upon maturity: |
The principal and return (if any) will be deposited to the designated account of the subscriber within 10 Working Days after the redemption date. |
| (12) Right of early termination: |
Cofco Trust is entitled to early termination of the 2024 3rd Cofco Trust Wealth Management Product. |
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 Cofco 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 Cofco 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 Cofco Trust Wealth Management Agreements by itself does not constitute 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 relevant subscription amounts under the Cofco Trust Wealth Management Agreements are aggregated, the relevant applicable percentage ratios (as defined under the Listing Rules) of the transactions under the Cofco Trust Wealth Management Agreements exceed 5% but are lower than 25%. Therefore, the transactions under the Cofco 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 COFCO TRUST
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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.
Cofco Trust
Cofco Trust is a company incorporated under the laws of the PRC and a non-bank financial institution regulated by National Financial Regulatory Administration which is principally engaged in the business of capital trust, movable asset trust and real estate trust, etc. The ultimate beneficial owner of Cofco Trust is the State-owned Assets Supervision and Administration Commission of the State Council.
LIST OF COFCO TRUST WEALTH MANAGEMENT AGREEMENTS
| Name of agreement | Date of agreement / announcement |
Subscriber | Wealth management products subscribed |
|---|---|---|---|
| 2023 1st Cofco Trust Wealth Management Agreement |
19 June 2023 (agreement) / 16 January 2024 (announcement) |
Air-conditioner Marketing Company |
2023 1st Cofco Trust Wealth Management Product |
| 2023 2nd Cofco Trust Wealth Management Agreement |
26 June 2023 (agreement) / 16 January 2024 (announcement) |
the Company | 2023 2nd Cofco Trust Wealth Management Product |
| 2023 3rd Cofco Trust Wealth Management Agreement |
19 July 2023 (agreement) / 16 January 2024 (announcement) |
Air-conditioner Marketing Company |
2023 3rd Cofco Trust Wealth Management Product |
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| 2023 4th Cofco Trust Wealth Management Agreement |
18 December 2023 (agreement) / 16 January 2024 (announcement) |
Air-conditioner Marketing Company |
2023 4th Cofco Trust Wealth Management Product |
|---|---|---|---|
| 2024 1st Cofco Trust Wealth Management Agreement |
3 January 2024 (agreement) / 16 January 2024 (announcement) |
Air-conditioner Marketing Company |
2024 1st Cofco Trust Wealth Management Agreement |
| 2024 2nd Cofco Trust Wealth Management Agreement |
11 January 2024 (agreement) / 16 January 2024 (announcement) |
Refrigerator Marketing Company |
2024 2nd Cofco Trust Wealth Management Product |
The aggregate subscription amount of the Cofco Trust Wealth Management Products above (excluding the 2024 3rd Cofco Trust Wealth Management Product) is RMB1,400,000,000 (equivalent to approximately HK$1,535,591,336 [Note 1] ).
DEFINITIONS
In this announcement, unless the context otherwise requires, the following terms have the meanings set out below:
“2023 1st Cofco Trust Wealth Management Agreement”
the wealth management agreement entered into between Air-conditioner Marketing Company and Cofco Trust on 19 June 2023 in relation to the subscription of the 2023 1st Cofco Trust Wealth Management Product;
“2023 2nd Cofco Trust Wealth Management Agreement”
the wealth management agreement entered into between the Company and Cofco Trust on 26 June 2023 in relation to the subscription of the 2023 2nd Cofco Trust Wealth Management Product;
“2023 3rd Cofco Trust Wealth Management Agreement”
the wealth management agreement entered into between Air-conditioner Marketing Company and Cofco Trust on 19 July 2023 in relation to the subscription of the 2023 3rd Cofco Trust Wealth Management Product;
“2023 4h Cofco Trust Wealth Management Agreement”
the wealth management agreement entered into between Air-conditioner Marketing Company and Cofco Trust on 18 December 2023 in relation to the subscription of the 2023 4th Cofco Trust Wealth Management Product;
“2024 1st Cofco Trust Wealth Management Agreement”
the wealth management agreement entered into between Air-conditioner Marketing Company and Cofco Trust on 3 January 2024 in relation to the subscription of the 2024 1st Cofco Trust Wealth Management Product;
“2024 2nd Cofco Trust Wealth Management Agreement”
the wealth management agreement entered into between Refrigerator Marketing Company and Cofco Trust on 11 January 2024 in relation to the subscription of the 2024 2nd Cofco Trust Wealth Management Product;
“2024 3rd Cofco Trust Wealth Management Agreement”
the wealth management agreement entered into between Refrigerator Marketing Company and Cofco Trust on 16 January 2024 in relation to the subscription of the 2024 3rd Cofco Trust Wealth Management Product;
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“2023 1st Cofco Trust Wealth Management Product”
the wealth management product subscribed under the 2023 1st Cofco Trust Wealth Management Agreement, the major terms of which are summarised in this announcement;
“2023 2nd Cofco Trust Wealth Management Product”
the wealth management product subscribed under the 2023 2nd Cofco Trust Wealth Management Agreement, the major terms of which are summarised in this announcement;
“2023 3rd Cofco Trust Wealth Management Product”
the wealth management product subscribed under the 2023 3rd Cofco Trust Wealth Management Agreement, the major terms of which are summarised in this announcement;
“2023 4th Cofco Trust Wealth Management Product”
the wealth management product subscribed under the 2023 4th Cofco Trust Wealth Management Agreement, the major terms of which are summarised in this announcement;
“2024 1st Cofco Trust Wealth Management Product”
the wealth management product subscribed under the 2024 1st Cofco Trust Wealth Management Agreement, the major terms of which are summarised in this announcement;
“2024 2nd Cofco Trust Wealth Management Product”
the wealth management product subscribed under the 2024 2nd Cofco Trust Wealth Management Agreement, the major terms of which are summarised in this announcement;
“2024 3rd Cofco Trust the wealth management product subscribed under the 2024 3rd Cofco Trust Wealth Management Wealth Management Agreement, the major terms of which are summarised Product” in this announcement;
“Air-conditioner Marketing Qingdao Hisense Air-conditioner Marketing Co., Ltd.(青島海信空調營 Company” 銷股份有限公司), a non-wholly owned subsidiary of the Company “Board” the board of directors of the Company; “Cofco Trust” Cofco Trust Company Limited( 百瑞信託有限責任公司 ), a company incorporated under the laws of the PRC and a non-bank financial institution;
“Cofco Trust Wealth the Cofco Trust wealth management agreements as listed in the section Management Agreements” headed “List of Cofco Trust Wealth Management Agreements” in this announcement and the 2024 3rd Cofco Trust Wealth Management Agreement;
“Cofco Trust Wealth the wealth management products subscribed under the Cofco Trust Wealth Management Products” Management Agreements;
“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
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| 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; |
| “Renminbi” or “RMB” | Renminbi, the lawful currency of the PRC; |
| “Shareholder(s)” | the shareholder(s) of the Company; |
| “Working Day” | a normal business day of financial institutions stipulated by the PRC laws; |
| “%” | 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. 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 RMB0.9102 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 RMB0.92013 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 RMB0.9149 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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5. This amount has been converted from RMB into HK$ at an exchange rate of RMB0.9092 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 RMB0.90864 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 RMB0.90937 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 RMB0.90934 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, 16 January 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, Mr. Xia Zhang Zhua and Ms. Gao Yu Ling; and the Company’s independent non-executive directors are Mr. Zhong Geng Shen, Mr. Cheung Sai Kit and Mr. Li Zhi Gang.
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