DGAP Post-admission Duties announcement: Haier Smart Home Co.,Ltd. / Third country release according to Article 50 Para. 1, No. 2 of the WpHG [the German Securities Trading Act]
Haier Smart Home Co.,Ltd.: Announcement on Proposed Adoption of the 2021 A-Share Option Incentive Scheme

29.07.2021 / 17:50
Dissemination of a Post-admission Duties announcement according to Article 50 Para. 1, No. 2 WpHG transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Announcement on Proposed Adoption of the 2021 A-Share Option Incentive Scheme

Qingdao / Shanghai / Hongkong / Frankfurt, 29 July 2021 - Haier Smart Home Co., Ltd. (the "Company" or "Haier Smart Home", D-share 690D.DE, A-share 600690.SH, H-share 06690.HK) published an announcement on Proposed Adoption of the 2021 A-Share Option Incentive Scheme in accordance with applicable trading rules of the Shanghai Stock Exchange, the Hongkong Stock Exchange and applicable PRC laws.

Proposed Adoption of the Share Option Incentive Scheme

The Board is pleased to announce that, on 29 July 2021, the Board considered and approved the relevant resolution in relation to proposed adoption of the Share Option Incentive Scheme. The Incentive Scheme shall become effective upon consideration and approval of the general meeting and the Class Meetings of the Company. Before the general meeting and the Class Meetings are held for approval of the Incentive Scheme, the Company may amend the Incentive Scheme upon the request of the regulatory authorities of the PRC and/or Hong Kong.

Reasons for and Benefits of Granting Share Options

The Directors are of the view that the proposed Scheme is an additional measure that builds on the Company's A-Share and H-Share Employee Stock Ownership Schemes and Restricted Share Unit Scheme to further enhance employee incentives. As disclosed in the announcement dated 25 May 2021 and the circular dated 4 June 2021, the A-Share and H-Share Employee Stock Ownership Schemes and Restricted Share Unit Scheme are designed to provide incentive to middle and senior management and core employees with the Company's two to three-year profit target and business unit and individual performance target as the main appraisal benchmarks. To drive the achievement of the Company's longer term target, further enhance the development of high-end scenario-based brand and smart household business, the Company proposes to introduce the Scheme to provide incentive to the core management members with five or six-year appraisal period and higher profit targets than those under the A- Share and H-Share Employee Stock Ownership Schemes. The Company believes that the Incentive Scheme not only further establishes and improves the Company's long-term incentive mechanism, attracts and retains talented individuals, fully mobilizes the enthusiasm of the core management team of the Company, but also aligns the interests of Shareholders, the Company and core individuals together effectively. Various parties will attend to the long-term development of the Company and continuously improve operational efficiency and keep pursuing higher profit levels. The Directors of the Company (including Independent Non-executive Directors) believes that the adoption of the Incentive Scheme will help the Company achieve the above objectives, and is also of the view that the terms and conditions of the Incentive Scheme are on normal commercial terms, fair and reasonable and in the interests of the Company and the Shareholders as a whole.

Hong Kong Listing Rules Implication

This Incentive Scheme constitutes a Share Option Scheme under Chapter 17 of the Hong Kong Listing Rules. Pursuant to Rule 14A.92(3)(a) of the Hong Kong Listing Rules, the grant of Share Options to any Participants who are connected persons of the Company under the Share Option Incentive Scheme is exempted from reporting, announcement and independent shareholders' approval requirements. The Company will apply for a waiver from strict compliance with the requirement of note 1 to Rule 17.03(9) of the Hong Kong Listing Rules in respect of the Exercise Price of the Share Options which may be granted under the Share Option Incentive Scheme.

Extraordinary General Meeting and Class Meetings

An Extraordinary General Meeting and Class Meetings of the Company will be held to consider and approve at discretion, amongst other things, proposed adoption of the A-Share Option Incentive Scheme. The Company will dispatch the notice of the Extraordinary General Meeting, the notices of the Class Meetings and the circular containing further details of the terms of the A-Share Option Incentive Scheme to the Shareholders upon determining the convening date of the Extraordinary General Meeting and Class Meetings in accordance with the requirements under the Listing Rules in Shanghai, Hongkong, Frankfurt and the Articles of Association.

Further Details of the 2021 A-Share Option Incentive Scheme, such as its purpose and principles, administrative body, basis for determining the participants and the scope of participants, source, number and allocation of share options etc. will be found on the website of the Company at https://smart-home.haier.com/en/dggg/ and the Hongkong Stock Exchange at https://www1.hkexnews.hk/listedco/listconews/sehk/2021/0729/2021072901715.pdf.

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 launched Smart Home Experiential Cloud, which connects homes, users, enterprises and ecosystem partners, and 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



29.07.2021 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
Internet: smart-home.haier.com

 
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1222825  29.07.2021 

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