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Qingdao Haier Co., Ltd. (600690.SS)

Shanghai - Shanghai Delayed price. Currency in CNY
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22.59+1.31 (+6.16%)
At close: 3:00PM CST
Full screen
Previous close21.28
Open21.01
Bid22.58 x 0
Ask22.59 x 0
Day's range21.01 - 22.88
52-week range13.80 - 22.88
Volume131,835,502
Avg. volume56,286,922
Market cap142.51B
Beta (5Y monthly)1.09
PE ratio (TTM)21.41
EPS (TTM)1.05
Earnings date31 Aug 2020
Forward dividend & yield0.38 (1.76%)
Ex-dividend date16 Jul 2020
1y target est17.76
  • EQS Group

    Haier Smart Home Privatizes Haier Electronics to maximize resource allocation and synergistic effects

    DGAP-News: Haier Smart Home Co.,Ltd. / Key word(s): Miscellaneous 31.07.2020 / 18:13 The issuer is solely responsible for the content of this announcement. Haier Smart Home Privatizes Haier Electronics to maximize resource allocation and synergistic effectsQingdao / Shanghai / Frankfurt, July 31, 2020 - Haier Smart Home Co., Ltd. (hereinafter called "HSH" or "the Company", 600690.SH/690D.DE) and Haier Electronics Group Co., Ltd (hereinafter called "HEG", 1169.HK) jointly announced that HSH plans to privatise HEG by way of a scheme of arrangement ("Scheme"), and put forward a proposal ("Privatisation Proposal") to the Scheme Shareholders for the privatisation of HEG.Based on the Privatisation Proposal, HEG shareholders participating in the transaction (other than HSH and any of its wholly-owned subsidiaries) ("Scheme Shareholders" and each HEG Share held by a Scheme Shareholders is a "Scheme Share") will receive 1.60 new HSH H Shares for each Scheme Share as well as a cash payment of HK$1.95 per Scheme Share ("Cash Payment") if the Scheme becomes effective. Upon the Scheme becoming effective, HEG will become a wholly-owned subsidiary of HSH and HSH H Shares will be listed on the Hong Kong Stock Exchange by way of introduction (the "Introduction"). The Scheme and the Introduction are conditional on each other. Upon the Scheme becoming effective and the Introduction being approved, HSH will become a "A+D+H" listed company (a company listed in China "A", Germany "D" and Hongkong "H").After completion of the transaction, the organization structure, shareholding structure as well as financial performance of the Company is expected to be optimized. Meanwhile, HSH and HEG will work together on further increasing the synergy across different product categories and throughout the whole process, sharing the platform for smart home business and deepening online and offline integration, in a bid to provide users with the best customized service in the full lifecycle and accelerate the implementation of the Smart Home Experiential Cloud Strategy. Reasonable Premium and Benefits beyond Win-win increase shareholders returnsAfter the transaction is completed, Scheme Shareholders will become the shareholders of HSH in the future, holding the shares of a high-quality white goods listed company, and continuing to enjoy the shareholder returns brought by the implementation of HSH's future strategy as well as the synergistic effect after integration, so as to achieve benefits beyond win-win.According to the valuation report prepared by Platinum Securities (HSH's independent valuer), the mid-point value of each HSH H share is estimated at HK$18.47. On such basis, the total value of the HSH H Shares and the Cash Payment to be received by the Scheme Shareholders per Scheme Share is approximately HK$31.51, representing a premium of approximately 42.65% to HEG's average closing price of HK$22.09 for the 30 trading days before the issue of the possible privatization announcement on 16 December 2019, and a premium of approximately 28.34% to HEG's average closing price of HK$24.55 for the 30 trading days before the issue of the privatization announcement on 31 July 2020. The Scheme Shareholders will enjoy the benefit of an integrated HEG and share the potential synergistic effect arising from the further integration of HSH and HEG. Scheme Shareholders will also be able to partly monetize their investments in HEG through the Cash Payment.After completion of the transaction, with improved capital management and operational efficiency, HSH plans to increase the dividend pay-out ratio to 40% within three years on the basis of net profit attributable to parent company's ordinary shareholders which means a significant improvement compared with the 30% pay-out ratio of recent years, in order to enhance returns for all shareholders.New prospect of creating smart home after the in-depth integration of the capital marketPreviously, because of shareholdings and organizational structure of the two listed companies, the efficient utilization of resources were reduced to a certain extent, thereby curbing their operational efficiency. Especially at the time that HSH needs to build up a single platform as the part of Experiential Cloud Strategy, the Proposed Privatisation is an answer to these challenges and perfectly meet longing market expectations.After the completion of the Proposed Privatisation, the Company will further optimize organization structure and simplify decision-making processes and increase the operational efficiency, which helps bring synergies, strengthen competitiveness, as well as maximize returns for shareholders.On one hand, the synergistic effects in R&D, manufacturing and distribution are expected to reduce HSH's operation costs and improve its asset utilization and financial structure; on the other hand, HSH will further enrich smart home solutions portfolio, and advance the digitalization of the whole industrial chain, thus facilitating the implementation of Smart Home Experiential Cloud Strategy. Besides, since HSH has built world-class brand portfolio and strong global presence, HEG could accelerate the overseas expansion of its existing washing machine, water heater and water purifier businesses by virtue of HSH's global layout, in a bid to gain higher returns for its shareholders. Focus on and Acceleration of the Smart Home Experiential Cloud Strategy Following the "RenDanHeYi"(人单合一 in Chinese means "Maker-Customer Integration") model, an innovative management model initiated by Haier, HSH insists on the implementation of Smart Home Experiential Cloud Strategy with emphasis on "Scenarios and Ecology instead of Products and Industries". As a global leader in the IoT field, HSH dedicated to delivering seamless smart home experience to worldwide users.First, HSH has upgraded traditional household appliances into high-end interconnected smart devices to underpin full-suite smart home solutions covering smart kitchens, smart balconies and smart bedrooms through full living ecologic services in clothing, dining, sheltering and entertaining.Second, Smart Home Experiential Cloud has created a platform connecting billions of families to benefit all users, businesses and the ecology. Based on its strong brand appeal, the Company has developed a cloud-driven platform for smart home experience by connecting thousands of resources providers in different industries, aiming to build an ecological brand in the IoT era centering on the best customer experience; moreover, it has incubated several sub-platforms like the Internet of clothes, Internet of food and Internet of air, and created entries such as Haier Smart Home APP and Store 001 by integrating both online and offline contact networks, providing all kinds of users with solutions and care from home design, construction and services.Once the Proposed Privatisation is completed, the Company will utilize IoT, big data, cloud computing, artificial intelligence and 5G to optimize product portfolios and make products more convenient and interactive for users' better life; and through the accelerated implementation of Smart Home Experiential Cloud Strategy, HSH will realize the strategic visions of customizing wonderful life for millions of users.Through continuous innovation and transformation, HSH will establish an "A+D+H" platform in capital markets and continue global business expansion. The successful Experiential Cloud Strategy will bring more benefits to shareholders globally.HSH has appointed CICC and J.P. Morgan to act as its joint financial advisers, Clifford Chance LLP and King & Wood Mallesons as legal advisers in connection with the Privatisation Proposal and the Scheme, and Sullivan & Cromwell (Hong Kong) LLP and Zhong Lun Law Firm are legal advisers to the joint financial advisers; HEG has appointed UBS as its financial adviser and Fangda Partners as legal adviser in connection with the Privatisation Proposal and the Scheme. 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.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 * * *31.07.2020 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. Archive at www.dgap.de * * * Language: English Company: Haier Smart Home Co.,Ltd. Haier Industrial Park, Laoshan District 266101 Qingdao China Phone: +49 6172 9454 143 Fax: +49 6172 9454 42143 E-mail: y.sun@haier.de Internet: www.haier.net ISIN: CNE1000031C1, CNE000000CG9 (A-share), WKN: A2JM2W Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1107845 End of News DGAP News Service

  • EQS Group

    Haier Smart Home Co., Ltd.: Proposal for the Privatisation of and the proposed Delisting of shares in Haier Electronics Group Co. Ltd.

    Haier Smart Home Co.,Ltd. / Key word(s): Miscellaneous Haier Smart Home Co., Ltd.: Proposal for the Privatisation of and the proposed Delisting of shares in Haier Electronics Group Co. Ltd. 31-Jul-2020 / 12:37 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. * * *Disclosure of inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014Haier Smart Home Co., Ltd.: Proposal for the Privatisation of and the proposed Delisting of shares in Haier Electronics Group Co. Ltd.Haier Smart Home Co., Ltd. ("HSH") has, on 31 July 2020, issued a joint announcement with Haier Electronics Group Co. Ltd. ("HEG"), a subsidiary of HSH that is incorporated with limited liability in Bermuda and listed on the Hong Kong Stock Exchange, that HSH has formally requested the board of directors of HEG to, subject to the satisfaction of certain pre-conditions, put forward a proposal for the privatisation of HEG by HSH by way of a scheme of arrangement (the "Scheme") under Section 99 of the Companies Act 1981 of Bermuda (as amended) (the "Privatisation Proposal" or "Transaction"). The joint announcement was issued pursuant to Rule 3.5 of the Code on Takeovers and Mergers (the "Rule 3.5 Announcement") with relevant clearance obtained from the Executive Director of the Corporate Finance Division of the Hong Kong Securities and Futures Commission or any delegate thereof.As part of the Privatisation Proposal, upon the fulfilment of certain conditions and the Scheme becoming effective, all shares of HEG in issue and such further HEG Shares as may be issued prior to the record time for determining entitlement under the Scheme, other than those held by HSH and those held by any of its wholly-owned subsidiaries, (the "Scheme Shares") will be cancelled. Pursuant to the terms of the Privatisation Proposal, for every Scheme Share cancelled, the holders of the Scheme Shares will be entitled to receive 1.60 HSH H shares to be newly listed on the Hong Kong Stock Exchange pursuant to a listing by introduction (the "Introduction") and a cash payment of HK$1.95. The HSH H Shares to be issued are ordinary shares with a nominal value of RMB1.00 each. The Introduction and the Privatisation Proposal are conditional upon each other. Upon completion of the Privatisation Proposal, the listing of the HEG shares will be withdrawn from the Hong Kong Stock Exchange, and HEG will become a wholly-owned subsidiary of HSH.As at the date of this announcement, HEG has a share capital consisting of a total of 2,816,995,978 ordinary shares of a nominal value of HK$ 0.10 per share ("HEG Shares"). HSH and its wholly-owned subsidiary directly and indirectly an aggregate of 1,286,820,592 HEG Shares, representing approximately 45.68% of the outstanding issued share capital of HEG, which will not form part of the Scheme Shares.Platinum, the independent valuer appointed by HSH to value the HSH H Shares, has estimated that the value of each HSH H Share as at 30 July 2020 is in the range of RMB16.45 to RMB16.90. On the basis of such valuation and that Scheme Shareholders will receive (i) 1.60 HSH H Shares and (ii) the Cash Payment for every Scheme Share cancelled, the theoretical total value of the HSH H Shares and the Cash Payment for each Scheme Share under the Privatisation Proposal will be in the range of approximately HK$31.11 to HK$31.90. Accordingly, with 2,816,995,978 HEG Shares in issue as at 31 July 2020, the entire issued share capital of HEG would be theoretically valued under the Privatisation Proposal in the range of approximately HK$87,644 million to HK$89,873 million.On the relevant bases and assumptions set out in the Rule 3.5 Announcement, upon the fulfilment of the Conditions and the Scheme becoming effective, (i) up to an aggregate of 2,857,351,251 HSH H Shares (representing approximately 43.43% of the entire issued share capital of HSH as at the date of this announcement or approximately 30.28% of the entire issued share capital of HSH as enlarged by the issuance of such HSH H Shares) will be issued by HSH and (ii) a Cash Payment in the total amount of up to HK$3,482 million will be paid by HEG to the Scheme Shareholders.The making of the Privatisation Proposal is conditional upon the following pre-conditions:\- The requisite approval by the independent shareholders of HSH at the general meeting of HSH and the requisite approval by the HSH A Shareholders and HSH D Shareholders at the HSH A Shares class meeting and HSH D Shares class meeting respectively;\- approval of the CSRC in respect of the issuance of HSH H Shares pursuant to the Introduction; and\- approval by the Listing Committee of the Hong Kong Stock Exchange on the listing of, and the permission to deal in, the HSH H Shares on the Main Board of the Hong Kong Stock Exchange.The implementation of the Privatisation Proposal (including the effectiveness of the Scheme), is subject to the satisfaction or waiver (as applicable) of the further conditions, including obtaining approval from the disinterested Scheme Shareholders and the shareholders of HEG, Bermuda court sanction, third party consents and other governmental or regulatory approvals.Further details of the Transaction, under mandatory laws applicable to issuers on the Shanghai Stock Exchange, will be published on the Company's website at: http://smart-home.haier.com/en/gsxw/ Disclaimer: The Privatisation is subject to the disclosure requirements and practices applicable in Hong Kong, PRC and Bermuda, which differ from the disclosure and other requirements of the U.S. securities laws and the securities laws of the member states of the European Economic Area (the latter "Relevant States" and each member state of the European Economic Area a "Relevant State"). This Announcement is not an offer of securities for sale nor a solicitation of an offer to buy securities to the public in any Relevant State. No regulatory approval or clearance in respect of the HSH H Shares, which will be issued in connection with the Privatisation, has been, or will be, applied for in any jurisdiction other than Hong Kong, PRC or Bermuda. The HSH H Shares may not be offered or sold to the public in any Relevant State absent prior publication of a securities prospectus that has been approved by the competent authority in that Relevant State under Regulation (EU) 2017/1129 (the "EU Prospectus Regulation") or, where appropriate, approved in another Relevant State and notified to the competent authority in that Relevant State, all in accordance with the EU Prospectus Regulation, except that an offer to the public in that Relevant State of any Shares may be made at any time under the following exemptions under the EU Prospectus Regulation: (a) to any legal entity which is a qualified investor as defined under the EU Prospectus Regulation; (b) to fewer than 150 natural or legal persons (other than qualified investors as defined under the EU Prospectus Regulation); or (c) in any other circumstances falling within Article 1(4) of the EU Prospectus Regulation. The expression an "offer to the public" in relation to the HSH H Shares in any Relevant State means the communication in any form and by any means of sufficient information on the terms of the Privatisation and any HSH H Shares to be offered so as to enable a holder of Scheme Shares in any Relevant State to decide to accept the Privatisation and to receive HSH H Shares. HSH does not intend to make an offer of securities to the public in a Relevant State. 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* * *31-Jul-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de * * * Language: English Company: Haier Smart Home Co.,Ltd. Haier Industrial Park, Laoshan District 266101 Qingdao China Phone: +49 6172 9454 143 Fax: +49 6172 9454 42143 E-mail: y.sun@haier.de Internet: www.haier.net ISIN: CNE1000031C1, CNE000000CG9 (A-share), WKN: A2JM2W Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1107583 End of Announcement DGAP News Service

  • EQS Group

    Haier Smart Home: Announcement on the Results of Issuance of the First Tranche of Super Short-term Commercial Papers of 2020

    DGAP-News: Haier Smart Home Co.,Ltd. / Key word(s): Miscellaneous 20.07.2020 / 15:38 The issuer is solely responsible for the content of this announcement. Haier Smart Home: Announcement on the Results of Issuance of the First Tranche of Super Short-term Commercial Papers of 2020 Qingdao / Shanghai / Frankfurt, 20 July 2020 - Haier Smart Home Co., Ltd. (D-Share ISIN CNE1000031C1, A-Share ISIN CNE000000CG9, "Haier Smart Home" or the "Company") has considered and approved the Proposal on the Proposed Registration and Issuance of Debt Financing Instruments of Haier Smart Home Co., Ltd. at the 2019 Annual General Meeting, pursuant to which, it was agreed that the Company intends to apply for debt financing instruments with a total registration amount not exceeding RMB 15 billion (inclusive) to the National Association of Financial Market Institutional Investors. Among of which, the amount of super short-term commercial papers of proposed registration will not exceed RMB 10 billion (inclusive) and the amount of medium-term notes of proposed registration will not exceed RMB 5 billion (inclusive). For details, please refer to the Announcement on the Proposed Registration and Issuance of Debt Financing Instruments of Haier Smart Home Co., Ltd. (No.: L2020-019) and the Announcement of Resolutions at the 2019 Annual General Meeting of Shareholders of Haier Smart Home Co.,Ltd. (No.: L2020-029), which were disclosed on the website of Shanghai Stock Exchange (www.sse.com.cn) and relevant websites by the Company on 30 April 2020 and 4 June 2020, respectively.The National Association of Financial Market Institutional Investors convened the 85th Registration Meeting of 2020 on 10 July 2020, pursuant to which, it was agreed to accept the registration of the super short-term commercial papers and medium-term notes of the Company, and issue the Notice of Registration Acceptance to them respectively. For details, please refer to the Announcement on the Approval of Registration of Debt Financing Instruments by the National Association of Financial Market Institutional Investors of Haier Smart Home Co.,Ltd. (No.: L2020-033), which was disclosed on the website of Shanghai Stock Exchange and relevant websites by the Company on 16 July 2020.On 17 July 2020, the Company issued the first tranche of super short-term commercial papers of 2020 pursuant to the funding arrangement of the Company and the conditions of the inter-bank market, and the information of the issuance are as follows:Name of Bond The first tranche of super short-term commercial papers of 2020 of Haier Smart Home Co.,Ltd. Abbreviation of Bond 20Haier Smart Home SCP001 (20海尔智家SCP001) Bond Code 012002518 Term 180 days Value date 17 July 2020 Redemption date 13 January 2021 Total amount proposed to be issued (RMB0'000) 300,000.00 Actual amount issued (RMB0'000) 300,000.00 Interest rate for the issuance 1.45% Issuance price (nominal value of RMB100) 100.00 Lead underwriter Industrial Bank Co., Ltd. Joint lead underwriter China CITIC Bank Corporation Limited The relevant documents in relation to the issuance of the first tranche has been published on the websites of Shanghai Clearing House (http://www.shclearing.com) and China Money (www.chinamoney.com.cn). 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 Haier Smart Home APP, 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 * * *20.07.2020 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. Archive at www.dgap.de * * * Language: English Company: Haier Smart Home Co.,Ltd. Haier Industrial Park, Laoshan District 266101 Qingdao China Phone: +49 6172 9454 143 Fax: +49 6172 9454 42143 E-mail: y.sun@haier.de Internet: www.haier.net ISIN: CNE1000031C1, CNE000000CG9 (A-share), WKN: A2JM2W Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange EQS News ID: 1097767 End of News DGAP News Service

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