DGAP-Adhoc: Joyou AG improves financing structure through new loan

Joyou AG / Key word(s): Miscellaneous

07.06.2013 17:14

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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Ad-hoc release according to § 15 WpHG

Joyou AG improves financing structure through new loan

Frankfurt am Main, 07 June 2013. Joyou AG has secured a 100 million US
dollar (approx. 77 million Euros) syndicated loan for its wholly-owned
subsidiary Hong Kong Zhongyu Sanitary Technology Limited. The coordinating
arranger of the loan is Nomura International (Hong Kong) Limited.

The loan has a repayment schedule with a first repayment of 5 per cent
after 18 months, further repayments of 15 per cent each every three months
thereafter and a final repayment of 20 per cent after 36 months. The loan
has an annual interest rate of LIBOR (for the relevant interest period)
plus 4.25 per cent.

The purpose of the loan is to align Joyou's financing structure with the
company's asset structure. The loan will be used for the repayment of
maturing short-term debt and to support the ongoing expansion of Joyou's
production facilities including a shower heads facility, phase two and
three of the ceramics plants, an upgrade of the faucet production lines as
well as for general corporate purposes.

With an equity position of 341.5 million Euros as of 31 December 2012,
representing an equity ratio of 75.7 per cent, Joyou has a strong debt
capacity. As a result, the company will continue to maintain a sound
balance sheet structure post the implementation of this facility.

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Information and Explaination of the Issuer to this News:

About Joyou

Joyou AG (ISIN DE000A0WMLD8, WKN A0WMLD, Ticker Symbol JY8) is a leading
bathroom solutions provider in China. Joyou designs, produces and sells
products for the entire bathroom mainly in China under its brand name
'Joyou' and is also engaged as a OEM/ODM-manufacturer for international
brands and trading companies in the United States and Europe as well as
other emerging markets. In 2011 Joyou was one of the leading single-brand
manufacturers of bathroom, and other faucets in China in terms of revenues
(according to BSRIA's China Bathroom Study 2011). Joyou has established an
extensive distribution network in China with over 4,000 retail points of
sales as of 31 December 2012.

Joyou's operating facilities are based in Nan'an near Quanzhou in Fujian
Province in China. Joyou mainly sells under its own brand name and has the
following nine product groups in its business portfolio: Bathroom Faucets,
Kitchen Products, Shower Products, Ceramics and Bathtubs, Bathroom
Cabinets, Bathroom Accessories, Other Faucets and Sanitary Hardware, Copper
and Semi-Finished Components, Grohe Products. In 2012, Joyou realised group
revenues of 329.6 million Euros, an operating profit (EBIT) of 50.8 million
Euros and a net profit of 39.8 million Euros.

For further information, please contact:

Joyou AG
Winterstraße 4-8
22765 Hamburg
Ian M. Oades, tel.: +86-595-8618 8887, ir@joyou.net

Kirchhoff Consult AG
Jens Hecht, tel.: +49 40 60 91 86 0, jens.hecht@kirchhoff.de

or visit the company website at: http://www.joyou.com

Disclaimer concerning prognoses
This communication may contain forward-looking statements. Forward-looking
statements are statements that are not historical facts but 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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Language: English
Company: Joyou AG
Winterstraße 4-8
22765 Hamburg
Germany
Phone:
Fax:
E-mail: ir@joyou.net
Internet: www.joyou.de
ISIN: DE000A0WMLD8
WKN: A0WMLD
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Stuttgart

End of Announcement DGAP News-Service

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