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Development History

 

October 2011 – the Company has entered into an agreement with Home Retail Group (UK) and Home Retail Group (Hong Kong), both wholly-owned subsidiaries of Home Retail Group, in relation to the establishment of the Joint Venture to develop the general merchandise multi-channel retailing business under the brand “Argos” in the PRC.

Aug 2011 – The Company has completed an investment agreement with Carlyle Asia Partners III, L.P. (“Carlyle Asia”), a wholly-owned subsidiary of the Carlyle Group, pursuant to which 100,000,000 convertible bonds with a principal amount of HK$1,067,000,000 and 40,000,000 warrants which carry an exercise price of HK$11.20 per warrant share were issued.

June 2011 – The Company entered into master agreements and management services agreements with 30 selected individuals who collectively own the beneficial interest of 68 Haier stores and their respective corresponding Haier Store Owner BVI companies.

June 2011 – Haier Group Corporation, the controlling shareholder of the Company, together with Haier Group E-commerce Company Limited, a wholly owned subsidiary of Haier Corp, entered into contractual arrangements with Qingdao New Goodaymart Logistics Service Company Limited, a wholly-owned subsidiary of the Company.

June 2011 – Haier Group Corporation, the controlling shareholder of the Company, and Qingdao New Goodaymart Logistics Service Company Limited (“Qingdao NG”), a wholly-owned subsidiary of the Company, entered into an equity transfer agreement, pursuant to which Qingdao NG will acquire the entire equity interest of Qingdao Goodaymart Electronics Service Company Limited at a consideration of RMB240 million (equivalent to approximately HK$288 million).

June 2011 –  The Company entered into a share subscription agreement with Rise Power International Limited and Ocean Vast Investments Limited respectively.

June 2011 – The Company has entered into agreements with its Suzhou and Hunan joint venture partners respectively, pursuant to which the Company proposed to grant share options to each joint venture partner based on the fulfillment of certain conditions.

May 2011 – the Company entered into a share subscription agreement with Shine (HK) Development Limited and SHC International (HK) Limited respectively.

April 2011 – the Company entered into an agreement to acquire approximately 51% controlling interest of Hefei Goodaymart Electric Appliance Co., Ltd from Henan Goodaymart Electric Appliance Co., Ltd at a consideration of RMB5 million, so as to further optimize the Company’s integrated channel service platform. With a view to motivate the joint venture partners to meet the challenging performance targets and to further increase its shareholdings in the two joint venture companies, the Company has entered into the Hefei Subscription Agreement and the Fujian Subscription Agreement with Hefei Joint Venture Partner and Fujian Joint Venture Partner.

December 2010 – the Company acquired 51% controlling interest of Yantai Goodaymart from Henan Goodaymart at a consideration of RMB18.8 million.

December 2010 – the Company and its joint venture partner, Shandong Joint Venture Partner, contributed RMB10.2 million and RMB9.8 million respectively to establish a joint venture company, namely Shandong Goodaymart. With a view to motivate the joint venture partners to meet the challenging performance targets while facilitating the further increase in shareholdings of the Company in the two joint venture companies, the Company entered into separate incentive agreements with Yantai Joint Venture Partner and Shandong Joint Venture Partner.

August 2010 - the Company and Haier Shareholdings (Hong Kong) Limited, a wholly-owned subsidiary of Qingdao Haier entered into the CB Subscription Agreement in respect of the Company's issue of the Convertible Bond with the principal amount of HK$786,600,000.

August 2010 - Qingdao NG, a wholly-owned subsidiary of the Company, as purchaser entered into the Equity Transfer Agreement with Haier Group Corporation as vendor pursuant to which Qingdao NG agreed to acquire and Haier Group Corporation agreed to sell, the 100% shareholding in Qingdao Haier Logistics for a consideration of RMB763 million.

March 2010 - Qingdao Haier Co., Ltd. has completed its acquisition of 32% shareholding of the Company. Qingdao Haier Co., Ltd. is interested in approximately 51.31% in the Company.

January 2010 - the Company and Haier Group Corporation entered into products procurement agreement and internal sales agreement. The Company will distribute the Haier branded home appliance products in 3rd to 4th tier markets of the PRC.

December 2009 - Qingdao Haier Co., Ltd. has entered into agreement with Haier Group Corporation to further acquire 32% shareholding of the Company.

September 2009 - the Company announced to establish a wholly-owned subsidiary in Shanghai, the PRC to expand the sales, logistics and services networks for the 3rd to 4th tier markets of the PRC.

March 2009 - The Company completed the placing took place on 23 March 2009,where a total of 75,000,000 placing shares and 300,000,000 Warrants have been allotted and issued to the subscribe of the placing shares.

June 2008 - Qingdao Haier Co.,Ltd completed the purchase of 20.1% insterest from Dentsche Bank.

December 2007 - The Group has completed the acquisition of the remaining 30% interest in Haier Indesit (front loading washing machines business) from the Italian partner.

March 2007 - The capital reorganization of the Company involving a share consolidation and capital reduction was effected. The details of which are set out in a circular of the Company dated 6 February 2007.

December 2006 - The Company completed the acquisition of front loading washing machine and water heater businesses from Haier Group.

June 2006 - The Company completed the disposal of its mobile handset business to Haier Group.

January 2005 - The Company completed the acquisition of top loading washing machine business and the remaining 35.5% interest in Pegasus Qingdao from Haier Group. As the acquisitions were mainly satisfied by the issue of the Company´s new shares, Haier Group has thereby become the controlling shareholder of the Company. The name of the Company was also changed from “Haier-CCT Holdings Limited” to “Haier Electronics Group Co., Ltd.”.

October 2002 - Haier Group injected its 15.5% stake of Pegasus Qingdao into the Company.

December 2001 - Haier Group injected its 49% stake of Pegasus Hong Kong into the Company. Meanwhile, CCT Telecom injected its 51% stake of Pegasus Hong Kong and 49% stake of Pegasus Qingdao into the Company, making Pegasus Hong Kong a wholly-owned subsidiary of the Company.

September 2000 - Two joint venture companies, namely, Pegasus Telecom (Hong Kong) Co., Limited (“Pegasus Hong Kong”) and Pegasus Telecom (Qingdao) Co., Ltd. (“Pegasus Qingdao”), were established in Hong Kong and Qingdao, the PRC respectively between Haier Group and CCT Telecom Holdings Limited (“CCT Telecom”) for the operation of mobile handsets business.

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