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Published on September 15th, 2014 | by The GC Team

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Haier listed among Forbes Asia Fab 50 Companies

Qingdao Haier, the Shanghai-listed company of Haier Group, has been recognised as one of Forbes Asia Fab 50 Companies, an annual list of the best publicly traded companies in the Asia Pacific region.

After its initial inclusion in 2011, Qingdao Haier made the list again for the fourth time in a row. This year, the company’s market value grew to US$8 billion from last year’s US$5.2 billion. Sales revenue rose to US$14 billion from US$12.6 billion.

Haier said its performance can be credited to massive organisational reforms launched at the end of 2012, which aimed to better respond to new market trends and adapt to the internet age. The company is adjusting its organisational structure in an effort to build a platform-based business, develop employees into “creative maker entrepreneurs”, and provide a more personalised end-user experience. The goal of these ongoing reforms is to shift the company from a traditional manufacturer to an open platform for entrepreneurship where employees are encouraged to start their own creative teams and be accountable for their own profits and losses.

According to the company’s 2014 interim report, released on the same day as the Fab 50 list, in the first half of its fiscal year, Qingdao Haier achieved revenues of RMB 47 billion, up by 9.16% year-on-year. Profit attributable to shareholders of the company increased by 20.84% year-on-year to RMB 2.58 billion.

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