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issue: June 2003 APPLIANCE Magazine

China Report
Chinese Television Producer Doubles Profits


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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.

 

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