Haier Smart Home Co., Ltd.

  • WKN: A2JM2W
  • ISIN: CNE1000031C1
  • Land: China

Nachricht vom 01.08.2019 | 18:30

Haier Smart Home Co.,Ltd.: Announcement on Adjustment to Conversion Price of Convertible Bonds

DGAP-News: Haier Smart Home Co.,Ltd. / Key word(s): Bond

01.08.2019 / 18:30
The issuer is solely responsible for the content of this announcement.

Announcement on Adjustment to Conversion Price of Convertible Bonds

Qingdao / Shanghai / Frankfurt, 1 August 2019 - Haier Smart Home Co., Ltd. (formerly known as Qingdao Haier Co., Ltd.) (D-Share ISIN CNE1000031C1, A-Share ISIN CNE000000CG9, "Haier Smart Home" or the "Company") published a mandatory announcement in accordance with applicable trading rules of the Shanghai Stock Exchange and applicable PRC laws in relation to the Announcement on Adjustment to Conversion Price of Convertible Bonds.

- The conversion price of "Haier Convertible Bonds" before adjustment was RMB14.55 per share

- The conversion price of "Haier Convertible Bonds" after adjustment will be RMB14.20 per share

- Effective date of adjusted conversion price: 8 Aug 2019

According to the Profit Distribution Proposal in 2018 of Qingdao Haier Co., Ltd. (previously name, now has been changed into Haier Smart Home Co., Ltd., hereinafter referred to as the "Company") considered and approved at the 27th meeting of the ninth session of the board of directors of the Company on 29 April 2019 and the Annual General Meeting of 2018 convened on 18 June 2019, the Company proposed the payment of a cash dividend of RMB3.51 (inclusive of tax) for every ten shares to shareholders whose names appear on the register of members of the Company on the equity registration date (7 August 2019) as confirmed in the announcement on dividend payment.

The Company issued 30,074,900 convertible corporate bonds (bond name: Haier Convertible Bonds; bond code: 110049) on 18 December 2018 by way of public issuance. According to the relevant resolutions considered and approved at the 8th meeting of the ninth session of the board of directors of the Company convened on 8 September 2017 and the 2017 First Extraordinary General Meeting of the Company convened on 23 November 2017, the relevant terms of the Prospectus in relation to the Public Issuance of A Share Convertible Corporate Bonds of Qingdao Haier Co., Ltd. (disclosed on the website of the Shanghai Stock Exchange on 13 December 2018) and the relevant regulations of China Securities Regulatory Commission (hereinafter referred to as the "CSRC") on issuance of convertible corporate bonds: when a company makes the payment of cash dividends, the conversion price shall be adjusted in accordance with the following formula (rounded to two decimal places):

Payment of cash dividends: P1=P0-D;

Where: P0 represents the conversion price before adjustment; D represents cash dividend per share; P1 represents the adjusted conversion price.

According to the above agreement, as a result of the profit distribution of the Company for 2018, the conversion price of Haier Convertible Bonds will be adjusted from RMB14.55 per share to RMB14.20 per share from the ex-dividend date determined for the implementation of the 2018 Profit Distribution Proposal of the Company. The adjusted conversion price shall take effect from 8 August 2019.

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 developed three platforms - the cloud-based platform U+ Smart Life, which offers customers integrated smart home solutions, the smart manufacturing platform COSMOPlat, which enables customized mass production, and the online platform Shunguang, which 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

01.08.2019 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.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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