China Household Refrigeration Industry Report, 2007

In the first half of 2007, the output of household refrigeration products still kept a growing trend. After undergoing a rapid growth in 2006, the output of domestic refrigerators rose by 7.8% in H1 2007, seeing a sharp fall over the same period last year. By contrast with the performance of domestic refrigerator market, the output of domestic household air conditioners grew by 13.47% in H1 2007 and witnessed a strong rebound after experiencing a historical decline in 2006.

The export growth of household refrigerators and air conditioners boosted the growth of the export income of domestic household refrigeration products. In H1 2007, the export growth of household air conditioners appeared a rebound and its export dependence jumped as high as nearly 10% compared with the same period last year. At the same time, the average ex-works price, domestic average selling price and average export price of major household refrigeration products (refrigerators and household air conditioners) rose by different margins in H1 2007.

The pretax profit growth of household refrigeration industry is far higher than the sales income growth. From January to June 2007, the sales income and pretax profits of domestic household refrigeration industry rose by 25% and 50% respectively over the same period of previous year. This showed the profitability of domestic household refrigeration industry improved a lot since 2006. Other household refrigeration appliances products represented by refrigerator demonstrated a fast-growing trend in sales income and pre-tax profits, making great contributions to the growth of the household refrigeration industry.