Profit of Midea in H1 up by 20% to more than 12.9 billion Yuan

According Midea’s semi-annual report unveiled on August 30th 2018, the revenue of Midea in H1 posted 142.624 billion Yuan, a year-on-year growth of 14.60%, and net profit 12.937 billion Yuan, a year-on-year growth of 19.66%. Earnings per share stood at 1.97 Yuan.

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Gree posted net profit of 12.8 billion Yuan in H1

According to the semi-annual report released by Gree on August 31th 2018, the revenue of Gree came to 90.976 billion Yuan, a year-on-year growth of 31.50%, and net profit attributable to shareholders of the parent company 12.806 billion Yuan, a year-on-year growth of 35.48%. Earnings per share grew ...

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Sales of air-conditioners skyrocket as heat wave grips Northeast China

This year's unusual high temperature in northeastern China, which is usually dry and cool in summer, has led to a sharp rise in demand for air-conditioners and a shortage of installers, Beijing Youth Daily reported. Northeast China provinces - Liaoning, Jilin and Heilongjiang - saw temperatures of...

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Xiaomi banking on new smart ACs

Chinese tech company Xiaomi Corp has unveiled a new smart air conditioner in its latest effort to expand its smart product portfolio, but industry insiders warned traditional home appliance manufacturers have the upper hand and richer experience in their own sector...

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Konka buys assets of refrigerator-maker Frestec

Chinese home appliance and electronics maker Konka Group has bought three subsidiaries of financially troubled refrigerator maker Frestec. In June, court-appointed administrators ordered Frestec to sell as​sets to meet creditors’ demands after it went into financial difficulties. Konka Group made ...

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