09:52     HAIER-CCT<01169> - Announcement (1)                                 

    The Stock Exchange of Hong Kong Limited takes no responsibility for       
    the contents of this announcement, makes no representation as to its      
    accuracy or completeness and expressly disclaims any liability            
    whatsoever for any loss howsoever arising from or in reliance upon        
    the whole or any part of the contents of this announcement.               
                                                                              
     (HAIER GROUP CORPORATION)                                                
     (Established in the People's Republic of China)                          
                                                                              
    (QINGDAO HAIER INVESTMENT                                                 
    AND DEVELOPMENT CO., LTD.)                                                
    (Established in the People's Republic of China)                           
                                                                              
    HAIER-CCT HOLDINGS LIMITED                                                
    (Incorporated in Bermuda with limited liability)                          
    (Stock Code: 1169)                                                        
                                                                              
    COMPLETION OF ASSET INJECTION BY THE HAIER GROUP                          
    INVOLVING THE ACQUISITION OF THE WASHING MACHINE                          
    BUSINESS AND EXERCISE OF THE CALL OPTION                                  
    (VERY SUBSTANTIAL ACQUISITION, REVERSE TAKEOVER AND CONNECTED             
    TRANSACTION INVOLVING A NEW LISTING APPLICATION AND AN                    
    APPLICATION FOR THE GRANTING OF THE WHITEWASH WAIVER)                     
    RESIGNATION AND APPOINTMENT OF DIRECTORS,                                 
    COMPANY SECRETARY AND QUALIFIED ACCOUNTANT                                
    CHANGE OF CHAIRMAN, AUTHORISED REPRESENTATIVES AND                        
    HEAD OFFICE AND PRINCIPAL PLACE OF BUSINESS IN HONG KONG                  
    AND                                                                       
    CHANGE OF COMPANY NAME                                                    
                                                                              
                                                                              
     Completion                                                               
     The Haier-CCT Directors and the Haier Group                              
    Directors are pleased to announce that completion of the Asset            
    Injection took place on 28 January 2005.                                  
                                                                              
    Following completion of the Asset Injection and with effect from 28       
    January 2005, (i) Ms Yang Mian Mian has been appointed the Chairman       
    and an executive Haier-CCT Director; (ii) Mr Song Chun Guang and Mr       
    Cao Chun Hua have been appointed executive Haier-CCT Directors; (iii) Mr  
    Wu Yinong has been appointed an independent non-executive Haier-CCT       
    Director; (iv) Mr Yip Wai Ming has been appointed the company secretary   
    and the qualified accountant of Haier-CCT; (v) Mr Mak Shiu Tong, Clement  
    has resigned as the Chairman and an executive Haier-CCT Director; (vi) Mr 
    Tam Ngai Hung, Terry and Mr Man Wei Dong have resigned as executive Haier 
    -CCT Directors; (vii) Ms Low Pui Man, Jaime has resigned as the company   
    secretary of Haier-CCT; and (viii) Mr Law Hing Lam, Andy has resigned as  
    the qualified accountant of Haier-CCT.                                    
                                                                              
    With effect from 28 January 2005, the authorised representatives of       
    Haier-CCT for the purposes of Rule 3.05 of the Listing Rules and Part     
    XI of the Companies Ordinance have been changed to Mr Wu Ke Song and      
    Mr Cui Shao Hua and the head office and principal place of business       
    of Haier-CCT in Hong Kong has been changed to Units 6507-08, 65/F.,       
    The Center, 99 Queen's Road Central, Hong Kong.                           
                                                                              
    Proposed Change of Company Name                                           
    As completion of the Asset Injection has taken place, a certified         
    true copy of the special resolution of the shareholders of Haier-CCT      
    approving the proposed change of name of Haier-CCT to `Haier              
    Electronics Group Co., Ltd.' and the Chinese translation of the name      
    of Haier-CCT, for identification purposes only, be changed to `',         
    will be delivered to the Registrar of Companies in Bermuda for filing     
    on 31 January 2005. When the new name is entered on the register by       
    the Registrar of Companies in Bermuda, the change of name in place of     
    the former name will take effect. A further announcement will be made     
    after the change of name becomes effective.                               
                                                                              
                                                                              
    Reference is made to the circular of Haier-CCT Holdings Limited           
    (`Haier-CCT') dated 18 November 2004 (the `Circular') regarding the       
    Asset Injection involving, among others, very substantial                 
    acquisition, reverse takeover and connected transaction involving a       
    new listing application and the Whitewash Waiver, the joint               
    announcement of Haier-CCT, Haier Corp and Haier Investment dated 2        
    April 2004 and the announcements of Haier-CCT dated 30 June 2004, 31      
    August 2004 and 31 December 2004 respectively, and the joint              
    announcement of Haier-CCT and CCT Telecom dated 19 January 2005.          
    Unless defined otherwise, terms used in the Circular have the same        
    meanings when used in this announcement.                                  
                                                                              
    Completion                                                                
    The Haier-CCT Directors and the Haier Group Directors are pleased to      
    announce that completion of the Asset Injection took place on 28