Symphony Launches Dongguan GSK Appliances in China
China: Symphony wholly owned subsidiary in China, Guangdong Symphony Keruilai Air Cooling Co, has incorporated a new China-based unit, Dongguan GSK Appliances, with an authorized capital of 70100 USD. The newly incorporated subsidiary will engage in the import and export of various goods, and the sales of consumer durables and household appliances such as air coolers, water heaters, tower fans, and washing machines, in line with local regulatory requirements.
Symphony, known for its residential, commercial, and industrial air-cooling solutions, reported a significant increase in its consolidated profit to 10.5 million USD during the quarter, compared to 2.8 million USD in the corresponding quarter last year. Revenue from operations also surged by 75.83% YoY to 63.2 million USD in Q1 FY25.
Source: Business Standard