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By Xie Fang

Supor, China's leading kitchen appliance manufacturer, released its preliminary financial results for the first half of 2018 Saturday evening, reporting a double-digit growth in both its operating revenue and net profit.

During the reporting period, the company's operating revenue grew by 25.27 percent from the previous year to reach RMB 8.849 billion, with a net profit of RMB 739 million, which also increased by 22.59 percent year-on-year.

According to the report, a dramatic growth in the sales revenue from its kitchenware and kitchen appliances made up the largest portion of the increase in the company's total operating revenue. Meanwhile, it also saw a moderate export growth rate over the first half of the year.

The company's excellent business performance could also be partly attributed to its efforts to cut management expenses which were down by 0.03 percentage points during the reporting period.

However, the company's sales expense rose by 0.21 percentage points as the company took multiple measures, including selling products via e-commerce platforms, to promote its sales.

The company has been maintaining its leading position in China's kitchen appliance market for years as the market shares of its core products remain unchanged.

Meanwhile, China's kitchen appliance market has also been expanding rapidly in recent years, with the data showing that the retail sales of the rice cookers and electric pressure cookers jumped by 6.5 percent and 7.3 percent year-on-year respectively over the first half of 2018.

Given the company's effective collaboration with the French kitchen appliance giant, SEB, which is also the controlling shareholder of Supor, analysts believe that export will play a larger role in the company's revenue growth in the future.