GZITIC Hualing predicts product prices to be lowered

GZITIC Hualing Holdings (0382) Chairman Chen Xiaoshi said at the shareholders meeting that the prices of domestic refrigerators and air conditioners would be reduced and the gross profit rate of the company will not be affected significantly since the company had a well-positioned strategy.

The company exported 80,000 air conditioners from Jan. to May, a leap of 176% from the same period last year, and the export of refrigerators rose 8% to stand at 120,000 units. The company is in talks with 2-3 distributors on cooperation.

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