Gree Electric Appliances Posts Over 40% Revenue, Net Profit Growth in First Half

Leading Chinese home appliance company Gree Electric Appliances, Inc. has reported a 40 percent annual rise in operating income to USD10.61 billion (CNY70.02 billion) in the first half of the year. Net profit soared 48 percent to USD1.43 billion (CNY9.45 billion).

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Zhejiang Supor to Acquire China Business of Germany's WMF Brand from Parent Company

Zhejiang Supor Co., Ltd. is to acquire the China business of WMF, a small household appliance brand in Germany, from its controlling shareholder. The company intended to spend self-owned funds buying WMF's consumer products business of the Chinese market, mainly regarding the inventories (kitchen...

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Gome Posts First-Half Net Profit of USD18.44 Million, Using Its App to Boost Retail Business

Chinese electrical appliance retailer Gome Retail Holdings Ltd., formerly Gome Electrical Appliances Holding Ltd., posted a net-profit decline of 1.61 percent to USD18.44 million (CNY122 million) in the first half on higher costs. The company introduced its Gome Plus app in the first half to boost...

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BOE Technology Details USD170 Million Investment in China's First Micro-OLED Plant in Kunming

Electronic display giant BOE Technology Group Co. will build its first large-scale organic light-emitting diode (OLED) micro-display production line in the capital of China’s southwestern Yunnan province, Kunming, with a total investment of CNY1.15 billion (USD172 million), it said in a press...

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Gree Electric's Chief Engineer Huang Hui Will Serve as Executive President

Huang Hui, former chief engineer of Gree Electric Appliances Inc. of Zhuhai (Gree), will act as its executive president after a management reshuffle at the home appliance maker based in China’s southeastern economic dynamo of Guangdong province. Dong Mingzhu will remain its chairwoman and president...

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