DGAP-News: Haier Smart Home Co.,Ltd. / Key word(s): IPO/Mergers &
Acquisitions
Haier Smart Home Co.,Ltd.: Listing of Haier Smart Home's H-Shares to
Establish 'A+D+H' Global Capital Market Platform
2020-12-23 / 07:30
The issuer is solely responsible for the content of this announcement.
*Listing of Haier Smart Home's H-Shares to Establish "A+D+H" Global Capital
Market Platform*
Qingdao / Shanghai / Hong Kong / Frankfurt, 23 December 2020 - Haier Smart
Home Co., Ltd. ("Haier Smart Home" or "the Company", stock code: 690D,
600690.SH, 6690.HK) announced that the Company's H-Shares will commence
trading on the Main Board of the Hong Kong Stock Exchange with stock code
6690.HK.
To date, the privatization of Haier Electronics Group Co., Ltd. by Haier
Smart Home by way of a scheme of arrangement has finally been completed. In
accordance with the scheme document, the listing of the shares of Haier
Electronics on the Main Board of the Hong Kong Stock Exchange (HKEX) was
officially withdrawn at 9:00 am (HKT) today. Haier Electronics has become a
wholly-owned subsidiary of Haier Smart Home. Haier Group remains to be the
controlling shareholder of Haier Smart Home.
The Management of Haier Smart Home stated, "Haier Smart Home's listing at
HKEX speaks for the Company's confidence over the Hong Kong capital market.
Together with our shareholders, we are looking forward to witnessing the
prosperous chapter of Haier Smart Home in an era of IoT in the Hong Kong
capital market."
*Global capital market platform yielding synergistic effect*
Haier Smart Home is the leader in the global home appliances industry and
global pioneer in providing smart home solutions, whose A-Shares are listed
on the Shanghai Stock Exchange and D-Shares are listed on the Frankfurt
Stock Exchange. After the completion of listing in Hong Kong, Haier Smart
Home has become a tri-listed company of "A+D+H"-Shares, which synchronizes
with the Company's global operations. As mentioned in the scheme document,
after the privatization has become effective, Haier Smart Home and Haier
Electronics are expected to achieve potential synergies in both business
development and corporate governance, along with its expansion of
competitive advantages.
Prior to the privatization, Haier Electronics was mainly engaged in the
manufacturing of domestic washing machines, water heaters and water
purifiers as well as the distribution business covering domestic sales
channels, while Haier Smart Home was mainly engaged in the business of
refrigerators, air conditioner and overseas household appliances. After the
completion of the privatization, Haier Smart Home will aim to fully
integrate with Haier Electronics to improve the comprehensiveness and depth
of smart home solutions. The enlarged Haier Smart Home Group will also take
this opportunity to further deepen the online and offline integration
throughout the entire process, to enhance the user experience and loyalty
and to build and share the Haier Smart Home Experiential Cloud platform
across all categories.
After the completion of the privatization, the enlarged Haier Smart Home
Group will share resources and build capacity throughout the entire value
chain, including R&D, procurement, manufacturing, and distribution of
products, to promote technical cooperation, facilitate result-sharing, and
optimize operations. On one hand, the prior overlapping of products and
channels of both parties can be eliminated, achieving significant synergies.
On the other hand, the improvement of operation management such as reduced
internal procedures and simplified approval process is expected to lower the
sales and management costs. In addition, the operational risks will be
reduced with more robust financial performance supported by a stronger
balance sheet.
The enlarged Haier Smart Home Group will have a larger market
capitalization, improved financial performance and a more diversified
investor base than Haier Electronics Group, which is expected to enhance the
Company's capital market profile and to improve liquidity. Moreover, after
the completion of the privatization, Haier Smart Home Group will establish a
unified capital market image and allow investors to focus on one listing
company.
*IoT based ecosystem brand strategy leading the world*
In recent years, with the rapid development of technologies such as IoT,
cloud computing big data and 5G networks, the home appliance industry sees a
trend towards smart, full-suite and scenario-based solutions. Haier Smart
Home, backed by its portfolio of interconnected home appliance products, its
resources built with partners, its Haier Smart Home App and Experiential
Cloud Platform, and its experience centers and franchised stores, provides
smart home solutions suited for various lifestyle for users, aiming to build
an IoT ecosystem brand of Haier Smart Home.
From 2017 to 2019, Haier Smart Home's revenue increased from RMB154.2
billion to RMB198.0 billion, with a CAGR of 13.3%. For the same period, the
profit increased from RMB9.1 billion to RMB12.3 billion, with a CAGR of
16.3%. Among the total revenue, the smart home business accounted for a
large proportion; in 2019, the revenue from smart home business (including
the PRC and overseas markets) accounted for 89.4% of the total revenue.
After the listing in Hong Kong, Haier Smart Home will continue adhering to
Haier's core value of "prioritizing users over the Company", capitalize on
its RenDanHeYi management model and provide users globally with
whole-process customized smart home solutions. Haier Smart Home is committed
to creating an IoT smart home ecosystem brand and meeting users' needs for a
better life experience.
*About Haier Smart Home Co., Ltd.:*
Haier is one of the world's leading manufacturers of household appliances
with a focus on smart home solutions and customized mass production. Haier
Smart Home Co., Ltd. develops, produces and distributes a wide range of
household appliances. These include refrigerators, freezers, washing
machines, air conditioners, water heaters, kitchen appliances as well as
smaller household appliances and an extensive range of intelligent household
appliances. The Company distributes its products through leading household
brands such as Haier, Casarte, Leader, Candy, GE Appliances, AQUA and Fisher
& Paykel. Haier Smart Home Co., Ltd. has launched Smart Home Experiential
Cloud, which connects homes, users, enterprises and ecosystem partners, and
facilitates the integration of Haier's online, offline and micro-store
businesses and supports user interaction to further optimize the user
experience.
*IR Contact:*
Yao Sun (Sophie) - Haier Smart Home Germany
T: +49 6172 9454 143
F: +49 6172 9454 42143
M: +49 160 9469 3601
Email: y.sun@haier.de
2020-12-23 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: Haier Smart Home Co.,Ltd.
Haier Industrial Park, Laoshan District
266101 Qingdao
China
Phone: +49 6172 9454 143
Fax: +49 6172 9454 42143
E-mail: y.sun@haier.de
Internet: www.haier.net
ISIN: CNE1000031C1, CNE000000CG9 (A-share),
WKN: A2JM2W
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart, Tradegate Exchange
EQS News ID: 1157083
End of News DGAP News Service
1157083 2020-12-23
(END) Dow Jones Newswires
December 23, 2020 01:30 ET (06:30 GMT)
