Haier Electronics Group Co., Ltd., listed on the Hong Kong Stock Exchange, said turnover for full-year 2010 was up 178.0% to RMB 35,806,672,000 (approx. US$5.47 billion). Net profit was reported up 114.9% to RMB 964,363,000.
The group said that in the year ended Dec. 31, 2010, its traditional washing machine and water heater manufacturing business experienced strong growth.
Sales from washing machines were up 25.4%, to RMB 11,519 million, from RMB 9,185 million in 2009. Washing machines accounted for 27% of the group's total revenue.
Sales from the water heater business increased 33.3% to RMB 3,126 million, up from RMB 2,345 million in 2009, and accounted for 7% of total revenue.
Haier Electronics is a subsidiary of Haier Group that primary makes and sells washing machines and water heaters in China under the Haier brand name.
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