Mainland whitegoods maker Hualing Holdings hopes to sell one million units each of air-conditioners and refrigerators this year after recording strong sales in the first quarter.
“That would be an increase of 40 per cent over a year ago,” general manager and executive director Chen Xiaoshi said yesterday.
After upgrading production facilities last year, Hualing can turn out up to two million refrigerators and 1.8 million air-conditioners a year, Chen said.
It sold 216,000 air-conditioners and 208,000 refrigerators in the first quarter, up 29 per cent and 48 per cent respectively from the same period in 2003.
“Sales revenues grew at a slower rate,” vice-general manager and finance director Liang Weiwen said after the firm reported its net loss for the year ended December 2003 narrowed to HK$76.98 million from HK$250.36 million a year earlier.
The better result was attributed to an easing of the price war on the mainland.
Turnover grew 25 per cent to HK$1.573 billion, from HK$1.26 billion in 2002. Hualing shares fell 0.43 per cent to HK$0.227 yesterday.
From The Standard