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Qingdao Haier 1Q Profits Up 25%
Apr 25, 2013
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Qingdao Haier Co., Ltd., the controlling shareholder of Haier Electronics Group Company Ltd., released its financial results for first quarter 2013.

Qingdao Haier owns 48.24% of Haier Electronics Group and is listed on the Shanghai Stock Exchange.

The company reported that its washing machine business revenues were RMB 3,269 million, up 12% from RMB 2,922 million in the first quarter of 2012.

Water heater business revenues were RMB 1,033 million, up 21% from RMB 857 million in 1Q 2012.

Integrated Channel Services Business revenues were RMB 13,171 million, up 15% from RMB 11,482 million in 1Q 2012.

Unaudited consolidated revenues were RMB 14,161 million, up 14% from RMB 12,403 million in 1Q 2012.

Unaudited consolidated net profit attributable to owners of the company was RMB 396 million, up 25% from RMB 316 million in 1Q 2012.

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