Joyou AG: Special Audit; Management Board/Management

2015.05.03

Hamburg, May 3, 2015 - The current audit at subsidiaries of Joyou AG (the "Company") showed as an interim result that substantial deviations from revenue figures, the amount of indebtedness and the amount of available cash compared to the relevant amounts reported by the Company in its financial reports 2014 must be assumed. Such deviations may possibly lead to the net assets, financial and profit situation of the Company having been presented too positively in the financial reports 2014 of the Company. The extent of the deviations is currently being investigated as part of the special audit conducted by auditors and legal counsel.

- End of the ad-hocc release -

About Joyou


Joyou AG (ISIN DE000A0WMLD8, WKN A0WMLD, Ticker Symbol JY8) is a leading manufacturer and supplier of bathroom fixtures and fittings. Based in Fujian Province, China, Joyou sells its products under the "JOYOU" brand name and is also a private label supplier for international brands and trading companies. Since 2011 Joyou has been part of the GROHE Group, the world's leading provider of sanitary fittings.

In 2013 Joyou was the leading single-brand manufacturers of bathroom faucets in China in terms of revenues (according to BSRIA's China Bathroom Study 2014). Joyou has established an extensive distribution network in China with over 4,100 individual franchised retail stores as of 31 December 2014.


For further information, please contact:



Joyou AG
Gasstrasse 18, Haus 6A
22761 Hamburg
Germany
ISIN: DE000A0WMLD8
WKN: A0WMLD

Matthias Poth
c/o HERING SCHUPPENER
mpoth@heringschuppener.com
+49-172-2756012 (mobile)
+49-69-921874680 (land line)


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 materialise 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.




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