Qingdao Haier Co announced Thursday annual growth in both revenues and profits amid sluggish development in the domestic home appliance manufacturing industry.
It said in an annual report that its revenue increased 8.13 percent year-on-year to 79.9 billion yuan ($12.9 billion) in 2012, with its profits up 21.54 percent to 3.3 billion yuan.
The company announced separately Thursday that its chairman Yang Mianmian will be replaced by current general manager Liang Haishan.
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