Hisense Home Appliances restructures with equity acquisition, asset disposals

Hisense Home Appliances Group announced board approval for a series of connected transactions aimed at consolidating its injection molding and stamping businesses while divesting non-core manufacturing assets. The company's wholly-owned subsidiary, Qingdao Hisense Mould Co., Ltd. (Hisense Mould), will acquire 26.0006% equity in Hisense (Guangdong) Kitchen & Bath Systems Co., Ltd. (Hisense Kitchen & Bath) from Hisense Visual Technology Co., Ltd. (Hisense Visual) for yuan 94,290,516.95, following a valuation and deduction of dividends. This transaction will result in Hisense Mould holding 100% of Hisense Kitchen & Bath.

Additionally, Hisense Mould and Hisense Kitchen & Bath will jointly sell the Huangdao Visual Plastics and Metal Workshop asset group to Hisense Visual for yuan 140.5933 m. This includes current assets, fixed assets, in-progress construction, and current liabilities as of August 31, 2025. Concurrently, Hisense Mould and Foshan Shunde Ronshen Plastic Co., Ltd. will sell the Jiangmen Electronic Plastic Products Workshop asset group to Hisense Electric Co., Ltd. for yuan 14.1951 m, encompassing current assets, fixed assets, in-progress construction, and current liabilities as of August 31, 2025.

These transactions are structured to focus on core businesses, streamline asset structures, and improve overall operational efficiency. All transactions are priced based on independent valuations and were approved by the board with relevant connected directors abstaining from voting.