Joyou AG / Key word(s): Miscellaneous
15.06.2011 23:04
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Frankfurt am Main, 15 June 2011. The major shareholders of the company, Mr.
CAI, Jianshe and Mr. CAI, Jilin, both members of the executive board of
Joyou AG, have as envisaged in their declaration of intent dated 14
February 2011 signed a long-term partnership agreement with Grohe Holding
GmbH according to which Mr. CAI, Jianshe and Mr. CAI, Jilin contribute
28.6% of their respective shares in Joyou AG into Grohe Asia AG against an
issuance of new shares representing 49.99% of Grohe Asia AG.
After execution of the shareholder agreement, Grohe Asia AG will hold 57.2%
of Joyou AG.
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Information and Explaination of the Issuer to this News:
About Joyou
Joyou (ISIN DE000A0WMLD8, WKN A0WMLD, Ticker Symbol JY8) designs, produces
and sells faucets and other sanitary ware products in China under its brand
name 'Joyou' and is also engaged as a OEM/ODM-manufacturer for
international brands and trading companies in the United States and Europe
as well as other emerging markets. In 2010 Joyou was one of the leading
single-brand manufacturers of bathroom, kitchen and other faucets in China
in terms of revenues (according to BSRIA's China Bathroom Study 2011).
Joyou has established an extensive distribution network in China with 3,677
retail points of sales as of 31 March 2011.
Joyou's operating facilities are based in Nan'an near Quanzhou in Fujian
Province in China. Joyou's nine main product groups sold in its own brand
business are Bathroom Faucets, Kitchen Products, Shower Products, Ceramics
and Bathtubs, Bathroom Cabinets, Bathroom Accessories, Other Faucets and
Sanitary Hardware, Copper and Semi-Finished Components, Grohe Business. In
2010, Joyou realised group revenues of EUR 246.6 million, an operating
profit (EBIT) of EUR 43.7 million and a net profit of EUR 33.2 million.
Disclaimer concerning prognoses
This communication contains forward-looking statements. Forward-looking
statements are statements that are not historical facts instead they
reflect Joyou's current views and expectations and the assumptions
underlying them about future events. Forward-looking statements are subject
to many risks and uncertainties. If any of such risks and uncertainties
materialize or if the assumptions underlying any of Joyou's forward-looking
statements are proving to be incorrect, Joyou's actual results may be
materially different from those expressed or implied by such
forward-looking statements. Joyou does not intend or assume any obligation
to update these forward-looking statements. Any forward-looking statement
speaks only as of the date on which it is made.
For further information, please contact:
Joyou AG
Westhafentower, Westhafenplatz 1,
60327 Frankfurt am Main
Ian M Oades, tel.: +49 69 710 456 346 or +86 595-8618 8883, ir@joyou.net
Kirchhoff Consult AG
Jens Hecht, tel.: +49 40 60 91 86 0, jens.hecht@kirchhoff.de
or visit the company website at: http://www.joyou.com
15.06.2011 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Joyou AG
Westhafentower, Westhafenplatz 1
60327 Frankfurt am Main
Deutschland
Phone:
Fax:
E-mail: ir@joyou.net
Internet: www.joyou.de
ISIN: DE000A0WMLD8
WKN: A0WMLD
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Stuttgart
End of Announcement DGAP News-Service
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DGAP-Adhoc: Joyou AG: Shareholder Agreement signed
| Source: EQS Group AG