Manufacturing News

China's Haier Q1 net profit up 47.17 pct

Haier Group, one of the world's leading white goods and home appliances makers, announced Wednesday that its first quarter net profit jumped 47.17 percent year on year to 531 million yuan (81 million U.S. dollars).

In a statement filed to the Shanghai Stock Exchange, Haier said its total value of assets increased 8.39 percent year from a year earlier to 31.7 billion yuan as of the end of March this year.

Earnings per share soared 47.21 percent year on year to 0.396 yuan, said the statement.

Haier attributed the profit surge mainly to an export boom and tax rebates.

The Qingdao-based Haier sells its products in over 100 countries and regions around the world.

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