Qingdao Haier Net Worth is4.3 $Billion
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Company Name: Haier Group
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Haier Group (simplified Chinese: aeu?a??; traditional Chinese: aeu?c? 3/4 ; pinyin: HC?i'A?r) (SEHK: 1169, SSE: 600690) is a Chinese multinational consumer electronics and home appliances company headquartered in Qingdao, Shandong, People's Republic of China. Its products include air conditioners, mobile phones, computers, microwave ovens, washing machines, refrigerators, and televisions. In 2011 the Haier brand had the world's largest market share in white goods, with 7.8 per cent.
The origins of Haier date back long before the actual founding of the company. In the 1920s, a refrigerator factory was built in Qingdao to supply the Chinese market. After the 1949 establishment of the People's Republic of China, this factory was then taken over and turned into a state-owned enterprise.
By the 1980s, the factory had debt of over CNY A?1.4 million and suffered from dilapidated infrastructure, poor management, and lack of quality controls, resulting from the planned economic system and relevant policies. Production had slowed to a trickle, rarely surpassing 80 refrigerators a month, and the factory was close to bankruptcy. In desperation, the Qingdao government turned to a young assistant city-manager, Zhang Ruimin, responsible for a number of city owned appliance companies. Zhang was appointed the managing director of the factory in 1984.
Zhang was an avid reader of Western and Japanese business practices and management techniques. When he arrived in 1984, Zhang realized that the poor condition of the factory's quality controls was endangering its continued survival.
In 1985, a customer brought a faulty refrigerator back to the factory and showed it to Zhang. Zhang and the customer then went through his entire inventory of 400 refrigerators looking for a replacement. In the process he discovered that there was a 20 percent failure rate in his merchandise. To emphasize the importance of product quality, Zhang had the 76 dud refrigerators lined up on the factor

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Qingdao Haier Latest News

GE Appliances planning fresh investment, expansion: Exclusive interview

This latest announcement comes two years after China-based Qingdao Haier Co. Ltd. bought the appliance business from General Electric Co. for $5.4 billion. In an exclusive interview this week, Qingdao Haier president Haishan Liang and GE Appliances CEO ...
Posted: June 6, 2018, 7:09 am

CEINEX welcomes Chinese regulator's approval of Haier's offshore-listing on D-Share

"The approval by the CSRC for an offshore listing by Qingdao Haier Co., Ltd. on the CEINEX D-Share Market is a great encouragement to us," said Chen Han, Co-CEO of CEINEX. "CEINEX will continue to closely cooperate with the issuer to prepare the listing of ...
Posted: June 12, 2018, 2:32 pm

Qingdao summit to usher in more dynamic SCO

Last year, the trade volume between Qingdao and SCO member states hit 4.6 billion dollars, up 9.8 percent year on year. The city's imports from SCO member states jumped 41 percent to reach 1.46 billion dollars. Haier Group, the world's leading home ...
Posted: June 6, 2018, 7:50 am
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