Haier Reports 2005 Loss of $55.83 Million Apr 20, 2006

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Haier Electronics Group Co. Ltd., China's largest home appliance maker, said it suffered a 432.96 million Hong Kong dollars (approx. U.S. $55.83 million) net loss in 2005. The company had a net profit of 119.48 million Hong Kong dollars (approx. U.S. $15.40 million) in 2004.

Revenue in 2005 was 4.94 billion Hong Kong dollars (approx. U.S. $643 million), down from 5.89 billion Hong Kong dollars (approx. U.S. $760 million) in 2004.

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