Suning Appliance Co., Ltd, China’s home appliance giant, achieved the operating revenue of RMB 8.94929 billion in the first quarter ended March 31, 2007, up 69.69% year-on-year. The net profit jumped 201.69% yea-on-year to RMB126.2858 million. Suning Appliance estimated, the net profit will continue its steady growth momentum from Jan to June, up 70% to 100%.

Suning Appliance said it added 29 stores and replaced 5 stores in Chinese cities in the first quarter, breaking a rule that not opening stores during the Spring Festival. In February, the company added 9 outlets. By the end of March, Suning Appliance had a total of 375 outlets across China, with the total area of chain stores reaching 1,516,400 square meters. During the reporting period, each store generated average sales of RMB 24.6537 million, up 10.56% year-on-year. At the same time, the sales per unit area based on simple weighted average calculation totaled RMB RMB6090.98, rocketed by 15.00% year-on-year, reflecting its profitability further to enhance compared with 2006.