(Yicai Global) Sept. 13 -- Rainbow Appliance Group’s stock price jumped after the leading Chinese maker of electrical heating appliances said export orders for electric blankets have surged since May.

After jumping almost 6 percent today, Rainbow [SHE: 003023] closed up 4.4 percent at CNY20.35 (USD2.94) a share.

Rainbow did not provide any specific figures, but said electric blankets -- an energy-saving and environmentally friendly product -- are in great demand amid Europe’s energy crisis. The Chengdu-based firm added that it has opened an overseas market development department and a services team to promote exports.

It will be difficult to deliver all the orders in time, in view of the Covid-19 lockdown in Chengdu and the power rationing in August, the more than 30-year-old company said, adding that it is taking measures to export the goods as soon as possible.

Rainbow’s first-half net profit fell 26 percent to CNY61.5 million (USD8.9 million) on a 10 percent drop in revenue to CNY533 million (USD77 million).

Editor: Tom Litting