Hisense subsidiaries commit RMB1.89bn to wealth management products

Hisense Home Appliances Group announced that its subsidiaries, including Air-conditioner Marketing Company, (Beijing) Electric Company, Gorenje Company, and Refrigerator Marketing Company, have subscribed to Jingu Trust Wealth Management Products totaling RMB1,892,000,000. These subscriptions, made between October 14, 2025, and December 19, 2025, utilized the group's idle funds. The products are primarily fixed income with a medium-low risk rating, investing in deposits, bonds, and other debt assets.

While each individual agreement does not constitute a discloseable transaction, the aggregated subscription amount triggers reporting and announcement requirements under HKEX Listing Rule 14.22. This is because the relevant percentage ratios exceed 5% but are below 25%. The board believes these transactions are on normal commercial terms, fair, and reasonable, enhancing the efficient use of idle funds without negatively impacting daily operations.

This strategic investment aligns with the company's previously approved resolution from its 2024 annual general meeting, authorizing the entrustment of up to RMB23,000,000,000 in idle self-owned funds for short-term and medium- and low-risk wealth management. Jingu Trust is a non-bank financial institution regulated by China Banking and Insurance Regulatory Commission, with its ultimate beneficial owner being the State-owned Assets Supervision and Administration Commission of the State Council.