Haier Electronics Group Co., Ltd.

Haier Electronics Group Co., Ltd. is a Bermuda-based investment holding company. The Company, along with its subsidiaries, is principally engaged in the manufacture and sale of washing machines and water heaters. It operates in two business segments: the washing machine business segment, which is engaged in the manufacture and sale of washing machines, and the water heater business segment, which is engaged in the manufacture and sale of water heater. The mobile handset business segment, which was engaged in the manufacture and sale of mobile phones, was discontinued during the year ended December 31, 2006.