Sichuan Changhong Electric reported profits of Yn176m for 2002, more than double the amount for the previous year. Revenues climbed 32 per cent to Yn12.59bn. The company attributed the rise to an increase in export sales. These totalled Yn5.54bn, 44 per cent higher than in 2001.
The company has denied reports in Shenzhen Economic Daily that it had been the victim of fraud in the US where a dealer failed to pay for more than 3m imported sets.