Haier 2009 Annual Report Download - page 24
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BUSINESS REVIEW 業務回顧
HAIER ELECTRONICS GROUP CO., LTD ANNUAL REPORT 2009
22
Although the impact of the global financial crisis and the world economic
downturn persisted in 2009, the Group managed to leverage on some of
the State’s favourable policies such as the “Rural Area Subsidized Electrical
Appliances Purchase Policy” and “Home Appliances Replacement Policy”
through product innovation and expansion of the 3rd and 4th tier markets,
and to take advantage of the favourable opportunities arising from the
Chinese economic recovery to further improve its competitiveness so
that it delivered satisfactory business performance. The Group recorded
a revenue of RMB11,531 million for 2009, representing an increase of
13.3% as compared to RMB10,180 million for 2008. Revenue from the
domestic market increased by 15.4%, while revenue from the overseas
markets declined by 7.6% in 2009. Europe, ASEAN and the Central
African market which were the major places of export of overseas
markets have not fully recovered from the economic crisis, thus dragging
down the performance of overseas markets. Our revenue growth in the
domestic market had effectively offset the adverse effects due to the
tepid demand from overseas markets. The Group continued to maintain
a leading position in the washing machine and water heater sectors, with
the washing machine business performing particularly good.
Profit attributable to owners of the Company for 2009 increased by
172.1% to RMB370 million (equivalent to HK$420 million) as compared
to RMB136 million (equivalent to HK$152 million) for 2008. The increase
in profit is primarily attributable to the growth in the gross profit margin
of the Group’s products and optimization of cost efficiency. Gross profit
margin of the Group increased by 1.1% in 2009 as compared to 2008,
benefiting from reduced raw material prices as well as the Group’s effort
to optimize product mix, strengthen cost control and boost profitability
of single models.
11,531,000,000
10,180,000,000
13.3%
15.4%7.6%
370,000,000420,000,000
136,000,000152,000,000
172.1%
1.1%