Sep 25, 2015 - Companiesâ), both being wholly-owned foreign enterprises ... The Company is engaged in manufacture and
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SKYWORTH DIGITAL HOLDINGS LIMITED (創 維 數 碼 控 股 有 限 公 司)* （Incorporated in Bermuda with limited liability） (Stock Code: 00751)
VOLUNTARY ANNOUNCEMENT STRATEGIC COOPERATION WITH TOSHIBA This announcement is issued by Skyworth Digital Holdings Limited (the “Company”, which together with its subsidiaries, the “Group”) on a voluntary basis. Strategic cooperation with Toshiba The board (the “Board”) of directors of the Company wishes to announce that Skyworth Electronic Appliance Limited (a 75%-owned subsidiary of the Company) has entered into strategic agreements with Toshiba Lifestyle Products and Services Corporation (#東芝生活電器株式會社) (“Toshiba”) (an independent third party company limited by shares (#株式會社東芝) incorporated in Japan with limited liability, and the issued shares of which are in turn held by Toshiba Corporation (#東芝株式 會社), a company incorporated in Japan with limited liability and the issued shares of which are listed on the Tokyo and Nagoya Stock Exchange of Japan) pursuant to which: (i) the Group will acquire 5% equity interests in each of Toshiba HA Manufacturing (Nanhai) Co., Ltd. (#東芝家用電器製造(南海)有限公司) and Toshiba Home Appliances Manufacturing (Shenzhen) Co., Ltd. (# 東 芝 家 用 電 器 製 造 ( 深 圳 ) 有 限 公 司 ) (together the “Target Companies”), both being wholly-owned foreign enterprises established by Toshiba in the People’s Republic of China (“PRC”); and (ii) the Group will be granted an exclusive sales right in the PRC for designated models of refrigerators, washing machines, and vacuum cleaners (collectively “Designated Appliances”) manufactured by the Target Companies.
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Reasons for the strategic cooperation The Company is engaged in manufacture and sales of consumer electronic products and upstream accessories, property development and property holding. The Target Companies are principally engaged in the manufacturing of refrigerators and washing machines, vacuum cleaners, the sale of the products of Toshiba and the provision of after sale services therefor. The strategic cooperation mentioned above has enabled the Group to form strategic alliance with Toshiba for the sale and development of Designated Appliances in the PRC and Japan and thereby promoting the brand names of the Group and Toshiba. Accordingly, the Directors consider that the terms of the strategic cooperation with Toshiba, which were negotiated on arm’s length basis, are fair and reasonable, and are in the interest of the Company and its shareholders as a whole. Listing rules implication The agreements entered into by the Group for the strategic cooperation with Toshiba do not constitute a notifiable or connected transaction of the Company under the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. By order of the Board Skyworth Digital Holdings Limited Chan Wai Kay, Katherine Executive Director Hong Kong, 25 September 2015 As at the date of this announcement, the Board comprises Ms. Lin Wei Ping as the chairperson of the Board, Mr. Yang Dongwen as executive director and the chief executive officer, Mr. Lu Rongchang, Mr. Shi Chi and Ms. Chan Wai Kay, Katherine as executive directors, and Mr. Li Weibin, Mr. Wei Wei and Mr. Cheong Ying Chew, Henry as independent non-executive directors. * For identification purpose only. # For the purposes of this announcement, the English translation of the Chinese names of these entities is for information only.
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