WELLING HLDG : JOINT ANNOUNCEMENT (1) PROPOSAL FOR THE PRIVATISATION OF WELLING HOLDING LIMITED BY THE OFFEROR BY WAY OF A SCHEME OF ARRANGEMENT UNDER SECTION 673 OF THE COMPANIES ORDINANCE (2) PROPOSED WITHDRAWAL OF LISTING OF WELLING HOLDING LIMITED AND (3) SANCTION OF THE SCHEME BY THE HIGH COURT

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

This announcement appears for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for securities of the Offeror or the Company nor is it a solicitation of any vote or approval in any jurisdiction.

MIDEA INTERNATIONAL

CORPORATION COMPANY LIMITED

美 的 國 際 控 股 有 限 公 司

(Incorporated in Hong Kong with limited liability)

(Incorporated in Hong Kong with limited liability)

(Stock code: 382)

JOINT ANNOUNCEMENT

(1) PROPOSAL FOR THE PRIVATISATION OF

WELLING HOLDING LIMITED

BY THE OFFEROR

BY WAY OF A SCHEME OF ARRANGEMENT UNDER SECTION 673 OF THE COMPANIES ORDINANCE

(2) PROPOSED WITHDRAWAL OF LISTING OF

WELLING HOLDING LIMITED

AND

(3) SANCTION OF THE SCHEME BY THE HIGH COURT

Financial Adviser to the Offeror

Independent Financial Adviser to the

Independent Board Committee

Optima Capital Limited

INTRODUCTION

Reference is made to (i) the scheme document jointly issued by Welling Holding Limited

(the ''Company'') and Midea International Corporation Company Limited (the ''Offeror'') dated 11 January 2018 (the ''Scheme Document'') in relation to, among other things, the proposal for the privatisation of the Company by the Offeror by way of a scheme of arrangement under section 673 of the Companies Ordinance and the proposed withdrawal of the listing of the Company; and (ii) the joint announcement dated 5 February 2018 issued by the Company and the Offeror in relation to, among other things, the results of the Court Meeting and the EGM. Unless otherwise defined, capitalised terms used herein shall have the same meanings as those defined in the Scheme Document.

SANCTION OF THE SCHEME AND CONFIRMATION OF THE CAPITAL REDUCTION BY THE HIGH COURT

The Scheme was sanctioned without modification by the High Court on Wednesday, 14

February 2018. The capital reduction of the Company (the ''Capital Reduction'') was also confirmed by the High Court on the same day.

An office copy of the order of the High Court made on Wednesday, 14 February 2018 sanctioning the Scheme and confirming the Capital Reduction under section 229 of the

Companies Ordinance, and the minute and the return containing particulars required by section 230 of the Companies Ordinance, are expected to be delivered to the Registrar of

Companies of Hong Kong for registration on or before Thursday, 15 February 2018.

Subject to the registration of the order of the High Court, the minute and the return by the Registrar of Companies of Hong Kong, and the fulfilment or waiver (as applicable)

of the remaining Conditions, the Scheme is expected to become effective on Thursday, 15 February 2018.

A further announcement will be made when the Scheme has become effective.

PROPOSED WITHDRAWAL OF THE LISTING OF THE SHARES

Subject to the Scheme becoming effective, the listing of the Shares on the Stock Exchange is expected to be withdrawn at 9:00 a.m. on Tuesday, 20 February 2018.

Warnings:

Shareholders and potential investors should be aware that the implementation of the Proposal is subject to the Conditions being fulfilled or waived, as applicable, and thus the Proposal may or may not be implemented and the Scheme may or may not become effective. Shareholders and potential investors should therefore exercise caution when dealing in the securities of the Company. Persons who are in doubt as to the action they should take should consult their stockbroker, bank manager, solicitor and/or other professional advisers.

By order of the Board of

MIDEA INTERNATIONAL CORPORATION COMPANY LIMITEDBy order of the Board WELLING HOLDING LIMITED

Fu Yongjun

Li Feide

Chairman

Director

Hong Kong, 14 February 2018

As at the date of this announcement, the directors of the Offeror are Mr. Fang Hongbo, Mr. Li Feide and Mr. Xiao Mingguang.

The directors of the Offeror jointly and severally accept full responsibility for the accuracy of the information contained in this announcement (other than that relating to the Group)

and confirm, having made all reasonable enquiries, that to the best of their knowledge, opinions expressed in this announcement (other than those expressed by the Company) have been arrived at after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any statement in this announcement misleading.

As at the date of this announcement, the Board comprises six executive Directors, namely Mr. Fu Yongjun (Chairman), Mr. Zhang Lifeng (Chief Executive Officer), Ms. Pan

Xinling, Mr. Li Li, Mr. Xiao Mingguang and Mr. Li Feide and three independent non-executive Directors, namely Mr. Tan Jinsong, Mr. Lam Ming Yung and Ms. Cao

Zhoutao.

The Directors jointly and severally accept full responsibility for the accuracy of the information contained in this announcement (other than those relating to the Offeror and parties acting in concert with it) and confirm, having made all reasonable enquiries, that to the best of their knowledge, opinions expressed in this announcement (other than those expressed by the Offeror) have been arrived at after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any statement in this announcement misleading.