Whirlpool disclosed on the evening of July 23, on July 18, the company and Hefei State-owned Assets Holding Co., Ltd. renewed the "Trademark Licensing Contract". The state-owned company will hold the 'licensed trademark' licensed to the listed company for use in the seventh category. The washing machine series and the 11th class of refrigerators, microwave oven products, and their belongings and promotional materials.
Within the time limit for the use of the trademark, the company shall pay the trademark license fee to the state-owned company according to the year of use (the first year of use is April 1, 2018 to March 31, 2019, and the subsequent use year). The license fee standard for the first year of use is 3.85 million yuan. After that, the annual license fee is increased by 5% based on the license fee for the year of use. The license period is from April 1, 2018 to March 31, 2023. The contract expires and the company has priority to be licensed.
According to the company, the renewal of this license contract has played a key role in implementing the multi-brand and multi-category strategy and strengthening the company's ability to ensure the sustainable growth of the company's profitability and achieve the goal of maximizing the interests of all shareholders.