TCL smart home forgoes subsidiary equity repurchase

TCL Smart Home Appliances Co., Ltd. will not execute the repurchase of a 49% equity stake in its subsidiary, Guangdong Homa Refrigerator Co., Ltd. from minority shareholders, despite holding the right to do so under a 2020 agreement. According to a legal opinion issued by Beijing Jiayuan Law Firm on March 17, 2025, the decision aligns with the original equity transfer and repurchase agreement. The decision was made after negotiations with minority shareholders and considering the current equity structure's benefits for all stakeholders. The legal opinion confirms that the decision does not constitute a breach of contract or violate any existing commitments made by TCL Smart Home or related parties.