WELLING HLDG : Change of Directors

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

The Board of the Company hereby announces that with effect from 24 April 2017:

1. Mr. Zhong Lin resigned as an executive Director, the Chief Executive Officer and a member of the Executive Committee of the Company; and

2. Mr. Zhang Lifeng has been appointed as an executive Director, the Chief Executive Officer and a member of the Executive Committee of the Company.

The Board of the Company hereby announces that with effect from 24 April 2017:

1. Resignation of Mr. Zhong Lin ("Mr. Zhong")

   Mr. Zhong resigned as an executive Director, the Chief Executive Officer and a member of the Executive Committee of the Company, to pursue other career opportunities in Midea.

   Mr. Zhong has confirmed to the Board that he has no disagreement with the Board and the Company, and there is no other matter in relation to his resignation that needs to be brought to the attention of the shareholders of the Company.

2. Appointment of Mr. Zhang Lifeng ("Mr. Zhang")

Mr. Zhang has been appointed as an executive Director, the Chief Executive Officer and a member of the Executive Committee of the Company.

Mr. Zhang Lifeng, aged 39, joined the Group in January 2017 and is the general manager of the production plants in Shunde. Mr. Zhang was employed by Midea Group in July 2002 and held various middle and senior management positions in Midea Group. He has extensive experience in production and manufacturing, new project development and quality management. Mr. Zhang holds a Bachelor of Mechanical Engineering and Automation Degree from Zhejiang University of Technology and a Master of Business Administration Degree from Nanjing University.

Save as disclosed above, Mr. Zhang did not hold any directorships in any other listed public companies in Hong Kong or overseas in the last three years. Mr. Zhang does not have any relationship with any Directors, senior management or substantial or controlling shareholders of the Company.

As at the date of this announcement, Mr. Zhang did not have any interests or short positions in the Shares or underlying shares of the Company which are discloseable under Part XV of the SFO.

Mr. Zhang has entered into a service contract with the Company for a term of three years which is terminable by either party giving not less than one month's written notice or payment in lieu. He is also subject to retirement by rotation and re-election at the annual general meetings of the Company in accordance with the Articles of Association. Mr. Zhang is entitled to an employee salary of RMB45,833 per month and receive compensation or bonus (in the form of cash, shares and/or share options in the Company or other members of the Group) as determined by the Remuneration Committee of the Company, in its absolute discretion, based on the responsibilities and work performance of Mr. Zhang and the performance of the Group, as well as the prevailing market conditions.

Save as disclosed above, there is no other information relating to Mr. Zhang that should be disclosed under Rule 13.51(2) of the Listing Rules or any other matter that needs to be brought to the attention of the shareholders of the Company.

The Board would like to take this opportunity to express its sincere gratitude to Mr. Zhong for his valuable contribution to the Company during his tenure of services, and extend its warmest welcome to Mr. Zhang in joining the Board.

In this announcement, the following expressions shall have the following meanings unless the context otherwise requires:

"Articles of Association" the articles of association of the Company (as amended from time to time)

"Board" the board of Directors

"Company" Welling Holding Limited, a company incorporated in Hong Kong with limited liability, the shares of which are listed on the Stock Exchange (stock code: 382)

"Director(s)" the director(s) of the Company

"Group" the Company and its subsidiaries

"Hong Kong" Hong Kong Special Administrative Region of the PRC

"Listing Rules" The Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited

"Midea" 美 的 集 團 股 份 有 限 公 司 (Midea Group Co., Ltd.*), a company

incorporated in the PRC with limited liability (the shares of which are listed on the Shenzhen Stock Exchange (stock code: 000333)) and is the controlling shareholder of the Company holding approximately 68.63% of the issued share capital of the Company as at the date of this announcement

"Midea Group" Midea and its subsidiaries

"PRC" People's Republic of China, but for the purposes of this announcement and for geographical reference only (unless otherwise indicated) excludes Hong Kong, Macau and Taiwan

"SFO" Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong)

"Share(s)" ordinary share(s) in the share capital of the Company "Stock Exchange" The Stock Exchange of Hong Kong Limited

In addition, the terms "controlling shareholder" and "substantial shareholder" shall have the meanings ascribed to them under the Listing Rules.

* The English name is a translation of its Chinese name and is included in this announcement for identification purposes only.

On behalf of the Board Welling Holding Limited Xiang Weimin

Chairman

Hong Kong, 24 April 2017

As at the date of this announcement, the Directors of the Company are:

Executive Directors: Mr. Xiang Weimin (Chairman), Mr. Zhang Lifeng (Chief Executive Officer), Ms. Pan Xinling, Mr. Li Li, Mr. Xiao Mingguang and Mr. Li Feide

Independent non-executive Directors: Mr. Tan Jinsong, Mr. Lam Ming Yung and Ms. Cao

Zhoutao