Hisense Kelon

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Hisense Kelon Electrical Holdings Limited
海信科龍電器股份有限公司
Type Private
Industry White goods manufacturing
Founded 1984
Headquarters Shunde, Foshan, Guangdong, People's Republic of China
Area served People's Republic of China
Key people Chairman: Mr. Tang Yeguo
General manager: Mr. Wang Shilei
Products Household appliances
Parent Hisense Group
Website www.kelon.com
Old logo of Kelon before 2007

Hisense Kelon Electrical Holdings Limited, Hisense Kelon or Kelon (SEHK921), (SZSE: 000921), formerly Guangdong Kelon Electrical Holdings Company Limited,[1] is one of the largest white goods manufacturers in China, producing refrigerators, air conditioners, freezers and small electric appliances. The company is well known in mainland China for its brand names Kelon and Rongsheng. The head office of the company is in Shunde, Foshan, Guangdong.

History[edit]

Founded in 1984 in Shunde, an industrial county in Guangdong, Kelon started to produce refrigerators. Its H shares were listed on the Hong Kong Stock Exchange in 1996 while A shares were listed on the Shenzhen Stock Exchange in 1999.[2] In 2006, Hisense Group, another large-scale white goods manufacturer in Qingdao, Shandong, acquired Kelon and became Kelon's largest shareholder. In 2007, the company name was changed to Hisense Kelon Electrical Holdings Limited after the acquisition.[3]

H shares trading suspended 2005–2009[edit]

On June 16, 2005, Kelon announced that trading in its H shares was suspended "pending the release of an announcement in relation to price sensitive information". This was because Kelon's former chairman and largest shareholder, Gu Chujun, was involved in seizing company assets and was being investigated by the Foshan police. Gu was later dismissed by the Board of Directors of Kelon.[4] The case was settled by the Intermediate People’s Court of Foshan City on 9 January 2009.[5] H shares resumed trading on 21 January 2009.[6]

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