Suning Appliance Co Ltd<002024>, China's second largest consumer electronics retailer, said it had no plans of leaving the Shenzhen small and medium enterprise board in response of an earlier rumor.
The company said it has never considered the issue of changing boards, and the SME board has no restrictions on the amount of outstanding shares and market capitalization, according to the company's statement filed with the Shenzhen Stock Exchange.
Suning Appliance is now one of the 30 largest companies by capitalization, with 1.495 billion outstanding shares at the end of June, compared with 93 million shares when it listed.
Suning Appliance booked net profits of RMB 1.1 billion (US$161 million) in the first half this year, up 70.4% year-on-year. The strong growth was contributed by the group's continuing expansion. The company said it extended partnership with suppliers to help improve its profitability, and it forecasted its net profit for Jan-Sep of this year would jump 60% to 90% year-on-year. |
