Hisense Electric Net Profit Doubles


August 24 -- Hisense Electric (600060) posted a 109.61 percent increase in net profit to 518 million yuan in the first half of 2011, reports China Business News, citing a company filing. Sales revenue in the same period increased 4.93 percent to 9.799 billion yuan. Revenue from television sales in particular increased 4.93 percent to 9.02 billion yuan.

Percentage changes cited in this story are year-on-year.

According to China Market Monitor’s investigation, Hisense Electric’s tablet television achieved a share of 15.53 percent in the first six months.

However, a report by WitsView shows that six major Chinese television producers delivered a total of 2.6 million television sets in the first six months, down 1.7 percent, with the demand for TV panels down 4.3 percent to 3.04 million sets.


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