Whirlpool (China) Co., Ltd., Royalstar, founded in 1992, is a well-known white goods brand, Whirlpool's large-scale comprehensive enterprise group mainly engaged in home appliance manufacturing, with washing machines and refrigerators as the leading products, involving small household appliances, solar water heaters, kitchen and bathroom appliances, electric vehicles and other diversified products
Royalstar is a well-known home appliance brand in China, and its leading products are washing machines and refrigerators, as well as small household appliances, solar water heaters, kitchen and bathroom appliances, electric vehicles and other diversified products. In 2006, the authoritative evaluation of "Royalstar" brand value by China Brand Research Institute exceeded 2.6 billion yuan.
With China's reform and opening up, after more than 20 years of market storms, "Royalstar-Royalstar" has become a mark of a generation of Chinese people's better life. At present, Hefei Royalstar Sanyo Electric Co., Ltd. is the management owner of the "Royalstar" brand, and also has the right to use the refrigerator, washing machine and microwave oven brand.
In the past 20 years of development, Royalstar Group has successively established joint ventures and cooperation with many well-known large enterprises at home and abroad, and jointly established 9 joint ventures, among which Hefei Sanyo is China's first joint venture listed enterprise for home appliances; 6 Chinese-funded enterprises and a number of strategic cooperative enterprises. The production and sales of its leading products, washing machines and refrigerators, have always ranked among the top three and top ten in the industry.
In May 2012, Hefei Royalstar Sanyo Company obtained the right to manage the "Royalstar" brand, and on April 1, 2013, it obtained the right to use the brand of "Royalstar" washing machines, refrigerators and microwave ovens, so far the "Royalstar" brand officially returned.
On August 12, 2013, Whirlpool Group, through its wholly-owned company, Whirlpool (China) Investment Co., Ltd., planned to acquire 51% of the equity of Royalstar for a price of 3.401 billion yuan. Whirlpool Group intends to acquire 29.51% equity interest (57,245,200 shares) of Royalstar held by Sanyo Electric Co., Ltd. and Sanyo Electric (China) Co., Ltd. for RMB 1.415 billion, and at the same time subscribe for 233,639,000 new shares of Royalstar, with a transaction amount of RMB 1.986 billion. On October 21, 2014, the transaction was closed.
