久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

Economy

Markets

Industries

Insights

Reports

Events

Gree's net profit rises 53.5% in 2008

By Zhou Yan (chinadaily.com.cn)
Updated: 2009-01-20 14:29

Gree Electric Appliances, one of China's largest air-conditioner manufacturers, has exceeded market projections by posting a 53.5 percent year-on-year growth in net profit in 2008 to 1.95 billion yuan ($285 million).

The Zhuhai-based company announced in its preliminary earnings report that the company's earnings per share (EPS) for 2008 is expected to reach 1.55 yuan.

The profit growth is mainly attributed to the fall in raw materials costs, and the popularity of its self developed products, the Shenzhen-listed company said in the statement.

Sales of air-conditioners have been falling rapidly since May.

Changcheng Securities estimated that the total sales in the industry had dropped 8 to 10 percent in 2008.

CITIC Securities maintained buy recommendation on Gree, and raised its EPS estimate in 2009 to 1.64 yuan.