Suning Appliance Co Ltd, an electronics retailing giant in China, Tuesday reported that its net profit in 2009 reached 2.89 billion yuan ($423.6 million), up 33.17 percent year-on-year.
Special Coverage:2009 Annual Reports of Listed CompaniesThe company attributed the surge in net profit mainly to its expansion in chain shops, which reached 22 more cities with 182 new outlets opening last year.
Shares of Suning closed higher at 18.13 yuan per share, up 1.69 percent compared to the previous close on the profit jump report.
