issue: June 2003 APPLIANCE Magazine China Report Chinese Television Producer Doubles Profits	Share  Printable format  Email this Article  Search
by Clint Stevens, China correspondent, APPLIANCE magazine Sichuan Changhong Electric Co. reported that its profits doubled last year from a year earlier, thanks to increased exports.

China's largest color-television manufacturer said its profits reached 176.2 million yuan ($21.2 million) in 2002, a 109.7-percent rise year-on-year. Revenue in the Shanghai-listed firm increased by 32 percent to 12.59 billion yuan last year, compared with 9.51 billion yuan in the previous year.

"The fast growth can be attributed to a drastic hike in our overseas sales," said Tai Mingxian, a firm official. Exports generated sales of 5.54 billion yuan for Sichuan Changhong during the same period, up 44.03 percent.