China Trade Information

Qingdao Haier Co., Ltd., a leading Chinese household electric appliance producer, announced Thursday evening that its net profit in the third quarter rose 48.88 percent year on year to 300.7 million yuan (44.03 million U.S. dollars).

Its net profit in the first three quarters increased 28.7 percent from a year earlier to 966.4 million yuan, the firm said in a statement to the Shanghai Stock Exchange.

The eastern Shandong Province-based company attributed the net profit hike to reduced inventory and improved assets quality.

Equities of the Shanghai-listed firm added 1.28 percent to 18.17 yuan per share Thursday.

Tags: business, Haier

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