China Resources Logic has appointed Chen Lang as deputy chairman and chief executive. At a special general meeting to announce the production of environmental compressors, Mr Chen (left) said the firm's compressor division had become its core business unit, raking in profits of HK$133 million for the first half of the financial year. This accounted for 86 per cent of the group's net earnings. Mr Chen said the company had a 10 per cent share in the mainland's air-conditioner compressor market. Market share is expected to increase to 15 per cent by 2003.
