Get what we want without losing what we have.

September 5^th, 1997 is an important Milestones in the history of Haier Group. The launch of color television indicated Haier's initial success in the brown goods sector through cross-sector restructure as the No.1 white goods supplier in China since its start 1984, marking a significant advance of Haier Group towards an international conglomerate.

Haier had acquired 18 companies running at a loss and activated the assets with a total amount of RMB 1.55 billion by restructure, recapitalization, recovery of idle assets through the period from 1984 to 1998, including Qingdao Red Star Appliances Stock Co., Ltd., Wuhan Xi Dao Industrial Stock Co., Ltd., Laiyang General Household Appliances Plant and Hefei Yellow Mount Television Plant, etc. with a total loss of RMB 550 million. Being a increasingly stronger presence, Haier Group has created more and more intangible assets using its capital operation idea of "Get what we want without losing what we have", which brings about immeasurable benefits for business growth.

Summary: Diversify from one product to a variety of products (in 1984, we had refrigerators only, and in 1998, we had dozens of products), from white goods to brown goods through capital operation in a way of "activating shock fish". Tangible assets were activated using intangible assets and the business was expanded and strengthened at the minimum cost and in the shortest time.