New Acquisition of Haier Smart Home

December 14, 2023 - Haier Smart Home entered into a stock purchase agreement with Carrier Global Corporation (NYSE: CARR) to acquire Carrier’s Commercial Refrigeration Business (“Carrier Commercial Refrigeration”) through acquiring 100% of the equity interest in Carolin Holdings B.V. Carrier, for total consideration of approximately USD 640 million (the “Transaction”), which represents 11x 2022A P/E. The Transaction marks Haier Smart Home’s expansion from its existing household refrigeration business into the commercial refrigeration business, creating additional future growth opportunities.