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Hisense, Xoceco Forecast Healthy H1 Balances
Home electronics manufacturer Hisense Electric (600060.SH) anticipates a more than 50% year-on-year increase in net profit in the first half of 2009 due to strong growth in sales of flat panel TV sets and its release of three new TV LCD module products, the company announced July 7. Hisense recorded RMB 88.98 million in net profit in the first six months of 2008.
Xiamen-based television maker Xoceco Electronic (600870.SH) announced July 8 it expects to become profitable in the first half of 2009. The company sold a total of around 1 million color TV sets in the first six months of 2009 to generate roughly RMB 1.6 billion in revenues and RMB 40 million in net profits. The company's exports of color TV sets increased 86% year-on-year. The company recorded a net loss of RMB 2.39 billion in the first half of 2008. Previous reports said that the Shanghai Stock Exchange would suspend trading of Xoceco Electronic from May 27 due to the company recording three straight years of net losses.
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