China’s top air-conditioner maker net profit surges in first 3 quarters

BEIJING, Nov. 4 (Xinhua) — Gree Electric Appliances, China’s leading air conditioner manufacturer, reported a 36.59 percent surge in net profit in the first three quarters this year.

Net profit attributable to shareholders hit 21.12 billion yuan (about 3 billion U.S. dollars) in the January to September period, the Guangdong-based firm said in its Q3 report filed with the Shenzhen Stock Exchange.

Its total business revenue increased 34.11 percent to 148.69 billion yuan, while total assets rose 15.14 percent year-on-year to about 247.52 billion yuan.

In 2017, the company’s air conditioner sales for home use remained the largest in China for a 23rd consecutive year, while sales for commercial air conditioners were the largest for the sixth year running.

Leave a Reply

Your email address will not be published. Required fields are marked *