CHIGO Achieved a Total Revenue of 10.7 Billion RMB in 2017

2018-03-31 CHIGO

In March 29th, CHIGO Holding released its 2017 annual results, showing that as of December 31, 2017, CHIGO achieved a total revenue of 10.7365 billion yuan, gaining a year-on-year growth of 15.4%. 

The income increase mainly benefited from the rapid increase of domestic sales. In 2017, CHIGO group achieved a gross profit of 1.7163 billion RMB, gaining a growth of 18.6%.

According to the announcement, thanks to the adjustment of strategies, including focusing on the development of products and network, developing the online and offline business in a balanced manner and enhancing sales promotion. Compared with 2016, CHIGO increased domestic sales and profit in air conditioning products satisfactorily. In China, CHIGO achieved a sales volume of 6.4277 billion yuan, increasing by 19.6%  over the same period last year.

Benefited from the overall improvement of China exports Air conditioning products, CHIGO’ s overseas sales increased to 4.3088 billion yuan in 2017, which was 9.7% growth, comparing with the same period last year. What’ s more, CHIGO’s sales in the continent of America, Europe and Oceania increased by 50.1%, 31.3% and 11.8% respectively.

Prices of major raw materials in the air conditioning market are predicted to continue rising in 2018, the statement said, due to the tightening of Chinese policy and the increasing number of Chinese smart AC- providers, the whole industry will be more competitive.

In 2018, CHIGO Group plan to focus its resources and efforts to promote the growth of smart air conditioning products, and will rely on its innovative ability to further consolidate its market position as the leader in smart air conditioners development.

For exports, the air conditioning industry is predicted to face more challenges and uncertainties in 2018, including the upward price volatility of major raw materials for steel, copper and aluminium, the stronger exchange rate of RMB against the US dollar, etc. The exports are also affected by commercial barriers and environmental barriers. Take into account the above factors, the demand for exports of air conditioners is predicted to slow down. The group predicts export sales of air conditioners for the year of 2018 will be in line with 2017.

CHIGO Group will continue to focus on brand building, investment resources and human resources to enhance brand influence and overseas reputation.

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