Chinese home appliance maker Midea has announced its 2010 performance report, stating that due to the optimization of its product structure and sales increase, its operating revenue increased by 57.70% year-over-year to CNY74.559 billion and its net profit increased by 69% year-over-year to CNY3.127 billion.

Midea said that during the year 2010, its business structure formed by air conditioners, refrigerators, and washing machines promoted the rapid growth of its sales; meanwhile, enhanced products like inverter air conditioners and multi-door refrigerators further ensured the continuous improvement of the company's profit level.

The company also revealed that the revenue from its air conditioners and air conditioner parts increased by 50.63% year-over-year to CNY48.259 billion; revenue from its refrigerators and refrigerator parts increased by 57.45% year-over-year to CNY9.939 billion; and revenue from its washing machines and washing machine parts increased by 63.10% year-over-year to CNY9.729 billion.

In addition, Midea plans to distribute the dividend payment of CNY1 for every ten shares.


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