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Gree Holds Intention Investor Meeting Baidu and 25 other institutions to attend

via:蓝鲸TMT     time:2019/5/23 15:39:19     readed:155

Gree Electric said that the transfer of equity transferee's selection conditions and specific programs will be around the goal of the Gree Electric Mixed Change.


As for whether the management can form a common body with other investors to participate in the public transfer, Gree Electric discloses that, as the overall scheme of public solicitation is being formulated, Gree Group in principle welcomes all intending investors who conform to the principle of public solicitation to participate in the public transfer. Intentional investors need to meet the requirements of relevant laws and regulations. On the other hand, SASASAC and Gree Group welcomed the theme of legally transferable for the development of Gree Electric Appliances.

As to whether foreign investment is allowed to participate in the transfer, how to ensure that foreign shareholders account for no more than 30% of the shares after the completion of the transaction? Gree Electric said that, as the overall plan is being formulated, Gree Group in principle welcomed all willing investors in accordance with laws and regulations to participate in the transfer of this open solicitation agreement.

According to the existing regulations, future intentional investors involving foreign capital will need to submit to the relevant business departments for approval in accordance with the Regulations on the Management of Strategic Investment by Foreign Investors in Listed Companies and other legal provisions. According to the Regulations on the Interconnection Mechanism of Stock Market Transactions between the Mainland and Hong Kong, foreign investors will hold shares in strategic investment of listed companies according to law. It is not subject to the restriction that the total proportion of A shares held by all foreign investors in a single listed company shall not exceed 30% of the total number of shares held by that listed company.

According to Gree Group, the establishment of a 15% transfer ratio of public solicitation agreements and the retention of 3.22% shares is a comprehensive consideration of the impact of the transfer on the equity structure of listed companies, corporate governance and Gree Group's own strategy and financial needs. After the transfer, Gree Group will continue to support the healthy development of listed companies as shareholders of Listed Companies in accordance with relevant laws and regulations.

On April 8, Gree Electric announced that Gree Group intends to transfer 15% of Gree Electric Group's total equity through public solicitation of transferees.

A few days ago, Gree Electric announced its annual report for 2018. During the reporting period, Gree Electric realized business income of 1981.22 billion yuan, an increase of 33.61% over the previous year, and realized net profit of 26.202 billion yuan, an increase of 16.97% over the previous year. It is worth mentioning that in 2018, Gree's R&D investment reached 7.268 billion yuan, an increase of 26.04%.

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