Haier's 2009 net profit jumps 50 pct on government incentives

April 19, 2010 10:42 am 

BEIJING, April 19 — Qingdao Haier Co., Ltd, one of the world's leading white goods and household appliance manufacturers, said Sunday that its 2009 net profit jumped 49.64 percent on government stimulus program and products innovation.

Net profit hit 1.15 billion yuan (168.37 million U.S. dollars) last year on revenue of 33 billion yuan, according to its annual report filed with the Shanghai Stock Exchange.

Earnings per share rose nearly 50 percent to 0.859 yuan.

The Chinese government introduced a series of measures to boost consumption of household appliances last year in a bid to counter the global economic downturn and buoy the country's economic growth.

Benefited from government incentives, sales of multi-door refrigerators rose to 21.7 percent year on year in 2009, said the report.

Haier topped the world in refrigerator sales last year with its products taking up 12.4 percent of the world's total sales, according to a survey conducted by Euromonitor International, an international provider of business intelligence on industries, countries and consumers.

The electric appliances maker is committed to improving its products quality and making them more environmentally-friendly and energy-saving, the report said.

The Qingdao-based company with over 60,000 employees from home and abroad sells its products in over 100 countries around the world. (PNA/Xinhua) ALM

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