Who is Jinling washing machine for?

Jinling washing machine was acquired by Italian candy washing machine company. Jinling Electric Appliance Group 1994 was incorporated in Jiangmen, Guangdong Province in September, with a registered capital of 260 million yuan, 50% of which was contributed by Hutchison Electric Appliances and 50% by Jiangmen Washing Machine Factory. As a professional manufacturer of washing machines, the annual output is 6.5438+0.6 million units. Although Jinling Electric's sales revenue last year was 490 million yuan, the rising cost of raw materials and losses for two consecutive years have made Hutchison Electric decide to sell. In 2004 and 2005, due to holding 50% equity of Jinling Electric, Hutchison Electric has incurred losses of HK$ 6.5438+0.748 million and HK$ 23.46 million respectively.

Italian Candy Group is a multinational enterprise that produces all kinds of household appliances. In 2005, the output of household appliances reached 665,438+million units, with an output value of1.01.30 billion euros. Candy washing machine company is a subsidiary of candy group. Candy has made nearly ten overseas acquisitions in recent years, and now it has opened the door to the China market by holding Jinling Electric. Candy will add 1 10,000 euros to Jinling Electric to start production of 250,000 front-door washing machines in China as soon as possible. At the same time, because we are optimistic about China's potential market and manufacturing level, Candy plans to establish its largest washing machine production base in the world in China, with an estimated total investment of 3,654,380+0,000 euros.