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) Withdrawal of Listing of Welling Holding Limited and (3) Effective Date of the Scheme

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) WITHDRAWAL OF LISTING OF WELLING HOLDING LIMITED

AND

(3) EFFECTIVE DATE OF THE SCHEME

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 14 February 2018 issued by the Company and the Offeror in relation to, among other things, the sanction of the Scheme by the High Court. Unless otherwise defined, capitalised terms used herein shall have the same meanings as those defined in the Scheme Document.

EFFECTIVE DATE OF THE SCHEME

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 sanctioning the Scheme and confirming the Capital Reduction, and the minute and the return containing particulars required by section 230 of the Companies Ordinance, were delivered to the Registrar of Companies of Hong Kong for registration on Thursday, 15 February 2018.

All the Conditions of the Scheme as set out in the Scheme Document were fulfilled and the Scheme became effective on 15 February 2018.

PAYMENT UNDER THE SCHEME

Cheques for payment of the Cancellation Consideration under the Proposal will be despatched to the Scheme Shareholders as soon as possible but in any event on or before Wednesday, 28 February 2018.

WITHDRAWAL OF THE LISTING OF THE SHARES

The listing of the Shares on the Stock Exchange is expected to be withdrawn at 9 : 00 a.m. on Tuesday, 20 February 2018.

By order of the Board of

MIDEA INTERNATIONAL CORPORATION COMPANY LIMITED

By order of the Board WELLING HOLDING LIMITED

Fu Yongjun

Li Feide

Chairman

Director

Hong Kong, 15 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.