August 31 -- Qingdao Haier ( RCode: 600690:) posted a 19.14 percent year-on-year rise in first half 2011 net profit to 1.53 billion yuan, with basic earnings per share of 0.57 yuan, reports yicai.com, citing a company filing.

Sales revenue rose 17.99 percent year-on-year to 38 billion yuan.

The company's refrigerator business contributed revenue of 14.22 billion yuan, up 8.25 percent year-on-year, while small home appliances generated revenue of 902 million yuan, up 160.81 percent.

During the reporting period, the company expanded its Internet channels through subsidiary Haier Electronics Group (1169.HK).

Haier's outlets covered a total of 2,120 counties as of end June, with coverage ratio of 94 percent.

The company obtained stakes in 10 companies during the reporting period, including Qingdao Haier Modeling, from its effective controller, Haier Group, extending its industrial chain. The newly-acquired companies contributed net profit of 116 million yuan.

Haier plans to roll out products designed for the needs of third and fourth-tier cities in the second half of 2011.

Haier Electronic introduced Carlyle Group as a strategic investor at end July, raising about HK$1 billion.