On 9th September 2005, the subsidiary of Hisense Group Qingdao Hisense Air-Conditioning Co., Ltd. entered into a Share Sale and Purchase Agreement with Guangdong Greencool Enterprise Development Co., Ltd. ("Greencool"), the controlling shareholder of Guangdong Kelon Electrical Holdings Co., Ltd. ("Kelong") to purchase from Greencool 26.43% of the outstanding shares of Kelon for a consideration no more than RMB900 million. The H Shares and A Shares of Kelon have been listed on the Hong Kong Stock Exchange and Shenzhen Stock Exchange, respectively. The acquisition has been announced on the two stock exchanges, but has not closed. Global is retained by Hisense Group as its PRC legal counsel and the team is led by LIU, Jinrong.