Haier mulls D-share listing in Germany
BEIJING, Feb. 11 (Xinhua) -- Chinese home appliance giant Haier said that it is currently studying the feasibilities of D-share listing in the German market, but a decision is yet to be made.
Responding to a media report that Haier will be the first Chinese company to issue D-shares in Germany, the Qingdao-based company said in a filing to the Shanghai Stock Exchange (SSE) that it has not hired any professional institute for the listing, and no internal decision has been made.
D-shares refer to shares issued by Chinese companies to be traded on the Frankfurt-based China Europe International Exchange (CEINEX), an off-shore yuan-denominated assets trading center established in 2015 by the SSE, German Borse Group, and the China Financial Futures Exchange.
Companies will need approval from both Chinese and German regulators to issue D-shares.
Haier reported its fastest revenue and profit growth in recent years in 2017 due to steady domestic and overseas expansion. The company raked in 241.9 billion yuan (37.86 billion U.S. dollars) in revenue last year, up 20 percent year on year, while its profit surged 41 percent.
Haier has 54 overseas factories and nine overseas R&D centers, manufacturing about 20 million products each year. Earnings from overseas markets accounted for about 40 percent of last year's total revenue and could grow to over 50 percent this year, according to the company.[ Editor: WPY ]