Hisense's First-Half Net Profit Jumps 18.5% on Lower Costs
Yicai Global
/SOURCE : Yicai
Hisense's First-Half Net Profit Jumps 18.5% on Lower Costs

(Yicai Global) Aug. 12 -- Hisense Electric Co. [SHA:600060], a Chinese electrical appliances maker, said profit jumped 18.5 percent in the first half of this year after costs declined.

Net profit was CNY741 million (USD111.6 million) in the six months ended June 30, the Qingdao-based company said in a statement yesterday. Revenue fell 5.1 percent to CNY13.29 billion.

Gross margin at its television division was 18.03 percent in its television business in the six months through June, up 1.79 percentage points from a year ago.

In terms of new products, the company said its high-end Internet television brand VIDAA, released in June, has had a good market response. It also rolled out the world's first super short-throw 4K laser TV this July.

Users of its smart TVs hit 19.62 million while their daily use almost doubled to 44.8 percent in June from 25.1 percent in December 2012.

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