Hisense Visual boosts production with asset buys, streamlines operations

Hisense Visual Technology plans to acquire assets from Hisense Home Appliances (Guangdong) Kitchen and Bathroom Systems Co., Ltd. and Qingdao Hisense Mould Co., Ltd. for CNY 14,059.33 million. Concurrently, its subsidiary, Hisense Electronics (Guangdong) Co., Ltd., will acquire another asset group from Hisense Mold (Guangdong) Co., Ltd. and Foshan Shunde Rongsheng Plastic Co., Ltd. for CNY 1,419.51 million. These acquisitions aim to bolster Hisense Visual's production of television casing components and reduce reliance on external suppliers.

In a complementary move, Hisense Visual Technology will sell its 26.0006% stake in Hisense Home Appliances (Guangdong) Kitchen and Bathroom Systems Co., Ltd. to Qingdao Hisense Mould Co., Ltd. for CNY 9,429.051695 million after deducting dividends. This divestiture is intended to optimize equity investments and sharpen the company's focus on its primary operations. The board approved these transactions, which are not considered major asset restructurings and do not require shareholder approval.

The company also announced board changes, with Mr. Liu Xin and Mr. Zhu Ran resigning as non-independent directors due to work adjustments. Mr. Yan Qun was nominated as an independent director, and Ms. Fang Xueyu was nominated as a non-independent director. These nominations, along with the appointment of Mr. Li Minhua as an employee representative director, will be voted on at the Extraordinary General Meeting scheduled for October 14, 2025.