In Brief
Hisense profit jumps 204pc on strong domestic demand, exports
Hisense Kelon Electrical Holdings, one of the mainland's largest manufacturers of air conditioners and washing machines, yesterday reported hefty gains last year on strong domestic demand and exports. The Guangdong-based company said net profit last year jumped 204.3 per cent to 632.35 million yuan (HK$749.97 million) from 207.83 million yuan in 2009. Revenue increased 32.5 per cent to 15.81 billion yuan from 11.93 billion yuan in the previous year. Bien Perez
Property sales drive 12pc growth in Socam earnings
Shui On Construction and Materials (Socam) yesterday said net profit rose 12 per cent to HK$903 million last year, largely driven by property sales. Turnover soared 151 per cent to HK$8 billion. A final dividend of 40 HK cents was recommended, up 60 per cent from 25 HK cents the year before. Last year's net profit included a HK$363 million revaluation gains on investment properties. Earnings from property sales and rental were HK$501 million. It sold four property projects last year and generated significant cash flow and profit on its quick-asset-turnover model. Sandy Li
AAC Acoustic Technologies posts 60pc rise in net income
AAC Acoustic Technologies Holdings, a global supplier of miniature components for consumer electronics devices, reported a 60.4 per cent increase in net profit last year to 986.7 million yuan from 615 million yuan in 2009. Revenue grew 52 per cent to 3.35 billion yuan from 2.20 billion yuan and basic earnings per share rose 60.4 per cent to 80.35 yuan. The Shenzhen-based company has proposed to change its name to AAC Technologies Holdings. Bien Perez
