Qingdao on high
By Feng Jianmin |
April 20, 2010, Tuesday
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Print Edition
Print Edition
QINGDAO Haier Co yesterday announced a record high profit of 1.15 billion yuan (US$168.3 million) in 2009, thanks to a recovery in exports and growing domestic demand.
Its revenue hit 33 billion yuan, up 8.46 percent from a year before. The net profit soared by 49.5 percent annually, according to its annual report filed to the Shanghai Stock Exchange.
The company also plans to extend its production line from fridges, air conditioners and kitchen appliances to cover washing machines and water heaters. Sales of appliances are expected to pick up as exports recover and demand in domestic rural areas is set to rise in 2010, but profit may be affected by rising costs of steel, the company said.
Its revenue hit 33 billion yuan, up 8.46 percent from a year before. The net profit soared by 49.5 percent annually, according to its annual report filed to the Shanghai Stock Exchange.
The company also plans to extend its production line from fridges, air conditioners and kitchen appliances to cover washing machines and water heaters. Sales of appliances are expected to pick up as exports recover and demand in domestic rural areas is set to rise in 2010, but profit may be affected by rising costs of steel, the company said.
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