Business Intelligence on Retailing, Franchising, and Consumerism in China

Qingdao Haier Net Profit Up 49.64% In 2009

Chinese electronics and home appliances maker Qingdao Haier has published its annual financial report for 2009, stating that its operating revenue increased by 8.46% year-on-year to CNY33 billion; while its net profit increased by 49.64% to CNY1.149 billion.

At the same time, its net cash flow reached CNY4.626 billion, a year-on-year increase of 251.12%; and its gross margin reached 26.43%, an increase of 3.3 percentage points compared with the previous year. These financial indices all reportedly reached the company's record high.

For various sectors, Qingdao Haier's revenue from refrigerator was about CNY16.287 billion, an increase of 22.36%; its revenue from freezers was CNY2.715 billion, an increase of 17.57%; revenue from air-conditioners was CNY8.685 billion, a decrease of 9.98%; revenue from small home appliances products was CNY873 million, a decrease of 11.17%; and revenue from other products was CNY3.912 billion, an increase of 5.56%.

In 2009, Qingdao Haier's revenue from the domestic Chinese market was CNY29.2 billion, an increase of 15.51% compared with the previous year; and its revenue from the overseas markets was CNY3.778 billion, a decrease of 26.33% over the previous year.

In addition, on December 11, 2009, Qingdao Haier signed an agreement with Haier Electronics, the Hong Kong-listed affiliate of Haier Group, to acquire an additional 31.93% stake in Haier Electronics. On the completion of the transaction, Qingdao Haier will hold about a 51.31% stake in Haier Electronics and Qingdao Haier's product lines will also expand into washing machines and water heaters, forming relatively complete white goods product lines.

Be the first to comment on "Qingdao Haier Net Profit Up 49.64% In 2009"

Leave a comment

Your email address will not be published.


  Other China News

AutoNavi, Delphi Reach Deal

Hisense's Net Profit Down 47.39% In First Three Quarters Of 2017

Airbnb China Head Resigns

DMG To Buy China Rights Of Forbes Brand


Chinese Electric Bus Manufacturer Lands USA Deal

American Electric Car Manufacturer To Build In China

U.S. Clean Water Company Makes Chinese Inroads

GE Will Promote Wind Power Through New Chinese Education Center

JD To Build Global Logistics Headquarters In Xi'an

Wumart, AGS Sign Agreement For Seafood Direct Procurement

India Gains Second Factory From China's Xiaomi

85% of Indian Staff To Lose Jobs At China's LeEco