Industry News

Frestec relaunches production after acquired by Konka

Frestec relaunches its production on August 28th 2018 after its three subsidies fully acquired by Konka at the price of 455 million Yuan on June 29th 2018. Zhou Bin, President of Konka, says at the production launching ceremony that, the reorganization of Frestec “has to succeed”.

Net profit of China's Haier up 10 pct in H1

The Qingdao Haier Co. Ltd., one of the world's leading home appliance makers, said its net profit in the first half of the year grew 10 percent to 4.86 billion yuan (about 712.5 million U.S. dollars).

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.

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 ...

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...