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TV Maker Plans Listing
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The mainland's leading television manufacturer, Konka Group Co Ltd, plans to list in Hong Kong within three years.


It is also looking for acquisition opportunities in overseas markets in a bid to improve its international brand image.


One of the world's top four TV makers, Shenzhen-based Konka said it is considering floating shares in Hong Kong within three years to fuel growth.


"Encouraged by our satisfactory performance last year, we are preparing to list in Hong Kong," the company's president, Yang Guohe, told China Daily.


He declined to give more details, but an anonymous analyst said the company might consider a "back-door" listing, which means injecting assets into an already-listed company.


Konka now trades its shares in Shenzhen. The TV maker saw its profit for 2005 top 20 million yuan (US$2.5 million), and expects that figure to increase by 50-100 percent this year.


It also expects sales to grow to 3 billion yuan (US$375 million) this year, Yang said.


He said Konka wants to build a good brand image worldwide and overseas acquisitions would be one of the most efficient ways to achieve that goal.


"We are currently looking for good acquisition opportunities in the United States, Europe and Japan. Asian and Chinese firms are not our favored options."


The US is Konka's biggest export destination, accounting for 30 percent of its exports.


The Shenzhen-based home appliance manufacturer has recently shipped the mainland's first batch of digital CRT (cathode ray tube) TV sets to the world's number one economy.


(China Daily April 13, 2006)


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