DGAP-News: Joyou AG / Key word(s): Offer Joyou AG: Joint Opinion of Management Board and Supervisory Board on takeover offer of GraceB S.à r.l. 18.11.2013 / 16:44 --------------------------------------------------------------------- Joyou AG: Joint Opinion of Management Board and Supervisory Board on takeover offer of GraceB S.à r.l. Hamburg, Germany, November 18, 2013. Management Board and Supervisory Board of Joyou AG have today published their joint statement pursuant to Sec. 27 para.1 of the German Securities Acquisition and Takeover Act (WpÜG) on the public takeover offer of GraceB S.à r.l., a subsidiary of the LIXIL Group. Management Board and Supervisory Board welcome the intention for a strategic cooperation and operative and financial integration between Joyou Group, Grohe Group, and LIXIL Group as described in the offer document. Management Board and Supervisory Board believe that the stated strategic goals of LIXIL Group are positive and in the interest of Joyou AG, its shareholders and employees. However, Management Board and Supervisory Board believe that the implementation of the stated strategic goals does not depend on a high acceptance rate of the takeover offer. Management Board and Supervisory Board consider the offer price of EUR 12.16 per Joyou AG share not to be adequate and, thus, recommend the Joyou shareholders not to accept the takeover offer. The complete joint opinion can be downloaded at the investor relations section (Investor Relations / Corporate News / Press Releases) of the website www.joyou.com. About Joyou Joyou (ISIN DE000A0WMLD8, WKN A0WMLD, Ticker Symbol JY8) designs, produces and mainly sells products for the entire bathroom solution 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 various emerging markets, as well as Joyou branded international sales. 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 franchised retail stores 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 Gasstraße 18, Haus 6A 22761 Hamburg Ian M. Oades, tel.: +86-595-8618 8887, [email protected] Kirchhoff Consult AG Jens Hecht, tel.: +49 40 60 91 86 0, [email protected] or visit the company website at: http://www.joyou.com Disclaimer concerning prognoses This communication contains forward-looking statements. Forward-looking statements are statements that are not historical facts 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. End of Corporate News --------------------------------------------------------------------- 18.11.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Joyou AG Gasstraße 18, Haus 6 A 22761 Hamburg Germany E-mail: [email protected] Internet: www.joyou.de ISIN: DE000A0WMLD8 WKN: A0WMLD Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 240481 18.11.2013