Annual Shareholders' Meeting of Midea Electric Appliances

The annual shareholders' meeting of GD Midea Electric Appliances Co., Ltd. was convened in the conference center on the second floor of the group on the morning of May 30th, 2006. Present at the meeting included company directors, supervisors and senior managers, as well as shareholders still registered with the Shenzhen branch of China Securities Depository and Clearing Corporation Limited after the close of Shenzhen Stock Exchange on May 23rd, 2006 or their authorized agents, in addition to solicitors engaged by the company. The meeting reviewed and passed thirteen proposals including "The Work Report of the Board of Directors for the Year 2005", "Proposal on Profit Appropriation for the Year 2005", and "Proposal on Revising the 'Articles of Corporation'".
Mr. He Xiangjian, Board Chairman of GD Midea Electric Appliances Co., Ltd., delivered the work report of the Board of Directors for the year 2005.According to the annual report of Midea Electric Appliances, the company has made a revenue of 21.3 billion yuan from its primary business in 2005, an 11% increase over the previous year. And its net profit has been 382 million yuan, up by 17% year on year. The product force and market influence of Midea Electric Appliances have been further enhanced, with its brand value leaping to 27.215 billion yuan, making it the No. 2 in the Chinese industry of white domestic appliances, and No.7 among the most valuable brands in China.