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Medlive Technology Co., Ltd. Capital/Financing Update 2026
50436_rns_2026-01-20_db681e43-98eb-442c-90ca-9ee766ab8e3f.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.
HISENSE HOME APPLIANCES GROUP CO., LTD. 海信家電集團股份有限公司
(A joint stock limited company incorporated in the People's Republic of China with limited liability) (Stock Code: 00921)
DISCLOSEABLE TRANSACTIONS SUBSCRIPTION OF WEALTH MANAGEMENT PRODUCTS
The Board announces that, during the period from 16 July 2025 to 20 January 2026, the Company's subsidiaries, Air-conditioner Marketing Company and Refrigerator Marketing Company, as subscribers entered into the Huaneng Trust Wealth Management Agreements to subscribe for the Huaneng Trust Wealth Management Products in an aggregate subscription amount of RMB1,815,000,000.
The Group utilised its idle funds for the payment of the subscription amounts under the Huaneng Trust Wealth Management Agreements.
Each of the Huaneng Trust Wealth Management Agreement 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 Huaneng 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 Huaneng 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 2025 held by the twelfth session of the Directors on 28 March 2025 and the 2024 annual general meeting of the Company held on 25 June 2025, 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 RMB23,000,000,000 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 Huaneng Trust Wealth Management Agreements in relation to subscription of wealth management products by the Company's subsidiaries (as subscribers) from Huaneng Trust (as issuers) during the period from 15 April 2025 to 15 July 2025. Please refer to the announcement published by the Company on the website of Hong Kong Stock Exchange (http://www.hkexnews.hk) on 15 July 2025, for further details.
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SUBSCRIPTION OF WEALTH MANAGEMENT PRODUCTS
The Board announces that, during the period from 16 July 2025 to 20 January 2026, the Company's subsidiaries, Air-conditioner Marketing Company and Refrigerator Marketing Company, as subscribers entered into the Huaneng Trust Wealth Management Agreements to subscribe for the Huaneng Trust Wealth Management Products in an aggregate subscription amount of RMB1,815,000,000. The Group utilised its idle funds for the payment of the subscription amounts under the Huaneng Trust Wealth Management Agreements.
MAJOR TERMS OF THE WEALTH MANAGEMENT PRODUCTS
Summarised below are the major terms of the Huaneng Trust Wealth Management Agreements:
| 2025 18th Huaneng Trust Wealth Management Agreement |
|
|---|---|
| (1) Date of subscription: |
16 July 2025 |
| (2) Name of product: | Huaneng Trust Xinying No. 1 Collective Fund Trust Plan (華能信託·信 盈1號集合資金信託計劃) |
| (3) Parties: | (i) Huaneng Trust as the asset manager (ii) Refrigerator Marketing Company as the subscriber |
| (4) Type of product: | Fixed income |
| (5) Risk rating of product: |
Relatively low risk |
| (6) Principal amount of subscription: |
RMB85,000,000 |
| (7) Term of investment: |
Subject to the redemption time of the subscriber |
| (8) Expected rate of return: |
The performance will fluctuate with the market and is subject to uncertainty |
| (9) Investment scope of the product: |
Bank deposits, interbank certificates of deposit, bonds and other credit assets |
| 2025 19th Huaneng Trust Wealth Management Agreement |
|
|---|---|
| (1) Date of subscription: |
16 July 2025 |
| (2) Name of product: | Huaneng Trust Xinying No. 1 Collective Fund Trust Plan (華能信託·信 盈1號集合資金信託計劃) |
| (3) Parties: | (i) Huaneng Trust as the asset manager (ii) Refrigerator Marketing Company as the subscriber |
| (4) Type of product: | Fixed income |
| (5) Risk rating of product: |
Relatively low risk |
| (6) Principal amount of subscription: |
RMB255,000,000 |
| (7) Term of investment: |
Subject to the redemption time of the subscriber |
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| (8) Expected rate of | The performance will fluctuate with the market and is subject to |
|---|---|
| return: | uncertainty |
| (9) Investment scope | Bank deposits, interbank certificates of deposit, bonds and other credit |
| of the product: | assets |
| 2025 20th Huaneng Trust Wealth Management Agreement |
|
|---|---|
| (1) Date of subscription: |
24 July 2025 |
| (2) Name of product: | Huaneng Trust Xinying No. 1 Collective Fund Trust Plan (華能信託·信 盈1號集合資金信託計劃) |
| (3) Parties: | (i) Huaneng Trust as the asset manager (ii) Air-conditioner Marketing Company as the subscriber |
| (4) Type of product: | Fixed income |
| (5) Risk rating of product: |
Relatively low risk |
| (6) Principal amount of subscription: |
RMB100,000,000 |
| (7) Term of investment: |
Subject to the redemption time of the subscriber |
| (8) Expected rate of return: |
The performance will fluctuate with the market and is subject to uncertainty |
| (9) Investment scope of the product: |
Bank deposits, interbank certificates of deposit, bonds and other credit assets |
| 2025 21st Huaneng Trust Wealth Management Agreement |
|
|---|---|
| (1) Date of subscription: |
18 August 2025 |
| (2) Name of product: | Huaneng Trust Xinying No. 1 Collective Fund Trust Plan (華能信託·信 盈1號集合資金信託計劃) |
| (3) Parties: | (i) Huaneng Trust as the asset manager (ii) Air-conditioner Marketing Company as the subscriber |
| (4) Type of product: | Fixed income |
| (5) Risk rating of product: |
Relatively low risk |
| (6) Principal amount of subscription: |
RMB150,000,000 |
| (7) Term of investment: |
Subject to the redemption time of the subscriber |
| (8) Expected rate of return: |
The performance will fluctuate with the market and is subject to uncertainty |
| (9) Investment scope of the product: |
Bank deposits, interbank certificates of deposit, bonds and other credit assets |
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| 2025 22nd Huaneng Trust Wealth Management Agreement |
|
|---|---|
| (1) Date of subscription: |
21 August 2025 |
| (2) Name of product: | Huaneng Trust Xinying No. 1 Collective Fund Trust Plan (華能信託·信 盈1號集合資金信託計劃) |
| (3) Parties: | (i) Huaneng Trust as the asset manager (ii) Refrigerator Marketing Company as the subscriber |
| (4) Type of product: | Fixed income |
| (5) Risk rating of product: |
Relatively low risk |
| (6) Principal amount of subscription: |
RMB208,000,000 |
| (7) Term of investment: |
Subject to the redemption time of the subscriber |
| (8) Expected rate of return: |
The performance will fluctuate with the market and is subject to uncertainty |
| (9) Investment scope of the product: |
Bank deposits, interbank certificates of deposit, bonds and other credit assets |
| 2025 23rd Huaneng Trust Wealth Management Agreement |
|
|---|---|
| (1) Date of subscription: |
21 August 2025 |
| (2) Name of product: | Huaneng Trust Xinying No. 1 Collective Fund Trust Plan (華能信託·信 盈1號集合資金信託計劃) |
| (3) Parties: | (i) Huaneng Trust as the asset manager (ii) Air-conditioner Marketing Company as the subscriber |
| (4) Type of product: | Fixed income |
| (5) Risk rating of product: |
Relatively low risk |
| (6) Principal amount of subscription: |
RMB200,000,000 |
| (7) Term of investment: |
Subject to the redemption time of the subscriber |
| (8) Expected rate of return: |
The performance will fluctuate with the market and is subject to uncertainty |
| (9) Investment scope of the product: |
Bank deposits, interbank certificates of deposit, bonds and other credit assets |
| 2025 24th Huaneng Trust Wealth Management Agreement |
|
|---|---|
| (1) Date of subscription: |
14 October 2025 |
| (2) Name of product: | Huaneng Trust Xinying No. 1 Collective Fund Trust Plan (華能信託·信 |
| 盈1號集合資金信託計劃) | |
| (3) Parties: | (i) Huaneng Trust as the asset manager |
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| (ii) Air-conditioner Marketing Company as the subscriber |
|
|---|---|
| (4) Type of product: | Fixed income |
| (5) Risk rating of product: |
Relatively low risk |
| (6) Principal amount of subscription: |
RMB310,000,000 |
| (7) Term of investment: |
Subject to the redemption time of the subscriber |
| (8) Expected rate of return: |
The performance will fluctuate with the market and is subject to uncertainty |
| (9) Investment scope of the product: |
Bank deposits, interbank certificates of deposit, bonds and other credit assets |
| 2025 25th Huaneng Trust Wealth Management Agreement |
|
|---|---|
| (1) Date of subscription: |
5 November 2025 |
| (2) Name of product: | Huaneng Trust Xinying No. 1 Collective Fund Trust Plan (華能信託·信 盈1號集合資金信託計劃) |
| (3) Parties: | (i) Huaneng Trust as the asset manager (ii) Refrigerator Marketing Company as the subscriber |
| (4) Type of product: | Fixed income |
| (5) Risk rating of product: |
Relatively low risk |
| (6) Principal amount of subscription: |
RMB100,000,000 |
| (7) Term of investment: |
Subject to the redemption time of the subscriber |
| (8) Expected rate of return: |
The performance will fluctuate with the market and is subject to uncertainty |
| (9) Investment scope of the product: |
Bank deposits, interbank certificates of deposit, bonds and other credit assets |
| 2025 26th Huaneng Trust Wealth Management Agreement |
|
|---|---|
| (1) Date of subscription: |
17 November 2025 |
| (2) Name of product: | Huaneng Trust Xinying No. 1 Collective Fund Trust Plan (華能信託·信 盈1號集合資金信託計劃) |
| (3) Parties: | (i) Huaneng Trust as the asset manager (ii) Refrigerator Marketing Company as the subscriber |
| (4) Type of product: | Fixed income |
| (5) Risk rating of product: |
Relatively low risk |
| (6) Principal amount of subscription: |
RMB207,000,000 |
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| (7) Term of investment: |
Subject to the redemption time of the subscriber |
|---|---|
| (8) Expected rate of | The performance will fluctuate with the market and is subject to |
| return: | uncertainty |
| (9) Investment scope | Bank deposits, interbank certificates of deposit, bonds and other credit |
| of the product: | assets |
| 2026 1st Huaneng Trust Wealth Management Agreement |
|
|---|---|
| (1) Date of subscription: |
20 January 2026 |
| (2) Name of product: | Huaneng Trust Xinying No. 1 Collective Fund Trust Plan (華能信託·信 盈1號集合資金信託計劃) |
| (3) Parties: | (i) Huaneng Trust as the asset manager (ii) Air-conditioner Marketing Company as the subscriber |
| (4) Type of product: | Fixed income |
| (5) Risk rating of product: |
Relatively low risk |
| (6) Principal amount of subscription: |
RMB200,000,000 |
| (7) Term of investment: |
Subject to the redemption time of the subscriber |
| (8) Expected rate of return: |
The performance will fluctuate with the market and is subject to uncertainty |
| (9) Investment scope of the product: |
Bank deposits, interbank certificates of deposit, bonds and other credit assets |
To the best of the Directors' knowledge, information and belief having made all reasonable enquiry, Huaneng Trust and its respective 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 Huaneng 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 Huaneng 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
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Each of the Huaneng Trust Wealth Management Agreement 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 Huaneng 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 Huaneng Trust Wealth Management Agreements, on an aggregate basis, constitute discloseable transactions of the Company and are subject to the reporting and announcement requirements under the Listing Rules.
INFORMATION ON THE PARTIES
The Company
The Company and its subsidiaries are principally engaged in research and development, manufacturing and marketing of electrical products such as refrigerators, household air-conditioners, central air- conditioners, 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 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 dailyuse appliances.
Refrigerator Marketing Company
Refrigerator Marketing Company is a company incorporated in the PRC and a subsidiary of the Company. It is principally engaged in sales and after-sales service and technical services of household appliances such as refrigerators, freezers, washing machines, household appliances.
Huaneng Trust
Huaneng Trust is a company incorporated under the laws of the PRC and a non-bank financial institution which is principally engaged in the business of capital trust, movable asset trust and real estate trust, etc. The ultimate beneficial owner of Huaneng Trust is the State-owned Assets Supervision and Administration Commission of the State Council.
DEFINITIONS
In this announcement, unless the context otherwise requires, the following terms have the meanings set out below:
| "2025 18th Huaneng Trust |
the wealth management agreement entered into between |
|---|---|
| Wealth Management | Refrigerator Marketing Company and Huaneng Trust on 16 July |
| Agreement" | 2025 in relation to the subscription of the 2025 18th Huaneng |
| Trust Wealth Management Product; |
|
| "2025 19th Huaneng Trust |
the wealth management agreement entered into between |
| Wealth Management | Refrigerator Marketing Company and Huaneng Trust on 16 July |
| Agreement" | 2025 in relation to the subscription of the 2025 19th Huaneng |
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Trust Wealth Management Product;
"2025 20th Huaneng Trust Wealth Management Agreement"
the wealth management agreement entered into between Airconditioner Marketing Company and Huaneng Trust on 24 July 2025 in relation to the subscription of the 2025 20th Huaneng Trust Wealth Management Product;
"2025 21st Huaneng Trust Wealth Management Agreement"
the wealth management agreement entered into between Airconditioner Marketing Company and Huaneng Trust on 18 August 2025 in relation to the subscription of the 2025 21st Huaneng Trust Wealth Management Product;
"2025 22nd Huaneng Trust Wealth Management Agreement"
the wealth management agreement entered into between Refrigerator Marketing Company and Huaneng Trust on 21 August 2025 in relation to the subscription of the 2025 22nd Huaneng Trust Wealth Management Product;
"2025 23rd Huaneng Trust Wealth Management Agreement"
the wealth management agreement entered into between Airconditioner Marketing Company and Huaneng Trust on 21 August 2025 in relation to the subscription of the 2025 23rd Huaneng Trust Wealth Management Product;
"2025 24th Huaneng Trust Wealth Management Agreement"
the wealth management agreement entered into between Airconditioner Company and Huaneng Trust on 14 October 2025 in relation to the subscription of the 2025 24th Huaneng Trust Wealth Management Product;
"2025 25th Huaneng Trust Wealth Management Agreement"
the wealth management agreement entered into between Refrigerator Marketing Company and Huaneng Trust on 5 November 2025 in relation to the subscription of the 2025 25th Huaneng Trust Wealth Management Product;
"2025 26th Huaneng Trust Wealth Management Agreement"
the wealth management agreement entered into between Refrigerator Marketing Company and Huaneng Trust on 17 November 2025 in relation to the subscription of the 2025 26th Huaneng Trust Wealth Management Product;
"2026 1st Huaneng Trust Wealth Management Agreement"
the wealth management agreement entered into between Airconditioner Marketing Company and Huaneng Trust on 20 January 2026 in relation to the subscription of the 2026 1st Huaneng Trust Wealth Management Product;
"2025 18th Huaneng Trust Wealth Management Product"
the wealth management product subscribed under the 2025 18th Huaneng Trust Wealth Management Agreement, the major terms of which are summarised in this announcement;
"2025 19th Huaneng Trust Wealth Management Product"
the wealth management product subscribed under the 2025 19th Huaneng Trust Wealth Management Agreement, the major terms of which are summarised in this announcement;
"2025 20th Huaneng Trust Wealth Management
the wealth management product subscribed under the 2025 20th Huaneng Trust Wealth Management Agreement, the major terms
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| Product" | of which are summarised in this announcement; |
|---|---|
| "2025 | the wealth management product subscribed under the 2025 |
| 21st | 21st |
| Huaneng | Huaneng |
| Trust | Trust |
| Wealth Management | Wealth Management Agreement, the major terms |
| Product" | of which are summarised in this announcement; |
| "2025 | the wealth management product subscribed under the 2025 |
| 22nd | 22nd |
| Huaneng | Huaneng |
| Trust | Trust |
| Wealth Management | Wealth Management Agreement, the major terms |
| Product" | of which are summarised in this announcement; |
| "2025 | the wealth management product subscribed under the 2025 |
| 23rd | 23rd |
| Huaneng | Huaneng |
| Trust | Trust |
| Wealth Management | Wealth Management Agreement, the major terms |
| Product" | of which are summarised in this announcement; |
| "2025 | the wealth management product subscribed under the 2025 |
| 24th | 24th |
| Huaneng | Huaneng |
| Trust | Trust |
| Wealth Management | Wealth Management Agreement, the major terms |
| Product" | of which are summarised in this announcement; |
| "2025 | the wealth management product subscribed under the 2025 |
| 25th | 25th |
| Huaneng | Huaneng |
| Trust | Trust |
| Wealth Management | Wealth Management Agreement, the major terms |
| Product" | of which are summarised in this announcement; |
| "2025 | the wealth management product subscribed under the 2025 |
| 26th | 26th |
| Huaneng | Huaneng |
| Trust | Trust |
| Wealth Management | Wealth Management Agreement, the major terms |
| Product" | of which are summarised in this announcement; |
| "2026 | the wealth management product subscribed under the 2026 |
| 1st | 1st |
| Huaneng | Huaneng |
| Trust | Trust |
| Wealth Management | Wealth Management Agreement, the major terms |
| Product" | of which are summarised in this announcement; |
| "Air-conditioner Marketing | Qingdao Hisense Air-conditioner Marketing Co., Ltd.*(青島海信 |
| Company" | 空調營銷股份有限公司), a 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; |
| "Hong Kong Stock Exchange" |
The Stock Exchange of Hong Kong Limited; |
| "Huaneng Trust" |
Huaneng Guicheng Trust Co., Ltd. (華能貴誠信託有限責任公 |
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司), a company incorporated under the laws of the PRC and a
non-bank financial institution;
"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
Company" 冰箱營銷股份有限公司), a subsidiary of the Company;
"Renminbi" or "RMB" Renminbi, the lawful currency of the PRC;
"Shareholder(s)" the shareholder(s) of the Company;
"%" per cent; and
"*" for identification purposes only.
By order of the Board Hisense Home Appliances Group Co., Ltd. Gao Yu Ling Chairperson
Foshan City, Guangdong, the PRC, 20 January 2026
As at the date of this announcement, the Company's executive directors are Ms. Gao Yu Ling, Mr. Jia Shao Qian, Mr. Yu Zhi Tao, Ms. Fang Xue Yu and Mr. Dai Hui Zhong, the Company's independent non-executive directors are Mr. Li Zhi Gang, Mr. Tsoi Wing Sing and Mr. Xu Guo Jun, and the Company's employee representative director is Mr. Yin Bi Tong.