The partnership represents an important step in Changhong's global and multi-brand strategy.

The cooperation covers major product categories including consumer electronics, large home appliances, air conditioners, and selected small domestic appliances. The licensed markets include Europe (excluding Türkiye), the Asia-Pacific region, the CIS, and China. Leveraging its global industrial capabilities, Changhong will oversee the full value chain for Grundig, spanning product development, design, manufacturing, sales, logistics, and customer service, with localized strategies tailored to different markets.

With more than 60 years of industry experience, Changhong has built strong capabilities in smart home appliances, supported by robust R&D strength, a vertically integrated supply chain, and a global manufacturing and operations network. Its overseas business covers core markets such as Europe, Australia, Southeast Asia, the Middle East, and Latin America, with manufacturing bases in countries including the Czech Republic, Indonesia, and Vietnam. These strengths provide a solid foundation for supporting the long-term development of international brands.

Founded in 1945 and headquartered in Nuremberg, Germany, Grundig is a well-established European home appliance brand with a long history in consumer electronics and household appliances. The brand joined Türkiye-based Arçelik Group in 2004 and today operates in more than 55 countries and regions worldwide, maintaining strong brand recognition across Europe.

As part of Changhong's multi-brand international strategy, its owned brand CHiQ has made steady progress in the European market in recent years. Positioned toward mass and younger consumer segments, CHiQ has expanded through localized channel development, product launches, and brand communication, gradually building market presence across key European countries.

With its strong European heritage and mid-to-high-end positioning, Grundig will complement CHiQ's role within Changhong's brand portfolio, enabling clear brand differentiation and synergy. Together, the two brands are expected to strengthen Changhong's channel coverage, market reach, and overall competitiveness in Europe and global markets.

Changhong stated that it will advance the partnership with a long-term and sustainable development perspective, continuously strengthening product, channel, marketing, and service capabilities to support the stable growth of the Grundig brand internationally.

Hashtag: #Changhong #Grundig

The issuer is solely responsible for the content of this announcement.

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