Gree Electric Appliances Inc of Zhuhai<000651>, based in Zhuhai, Guangdong Province, saw its net profit increase by an estimated 40% year on year in 2009, said President Dong Mingzhu on Monday at the 11th National People's Congress.
Net profit increased 66% year on year in 2008.
Due to the economic turmoil, the Shenzhen-listed firm's output value declined to RMB 3 billion in 2009, from RMB 5 billion in 2008, Dong added.
The appliance manufacturer, which reaped RMB 2.1 billion in net profit in 2008, will post its 2009 fiscal results on Apr. 27.
www.EnergyChinaForum.com
Reportedly, Gree Electric Appliances Inc of Zhuhai intends to spend RMB 300 million to build housing for its staff. Around 200 workers have moved to new apartments already.(Edited by EnergyChinaFroum.com. For more information, please email to: info@energychinaforum.com)
(China Knowledge,Mar 10,2010)
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