- A China furniture and electronics manufacturer, AIVtech International, says "electronic furniture" has helped drive 77 percent growth. The company, which went public in May 2010, reported $68.3 million in revenue for 2010.Revenue of $68.3 million, up 77.6% fro 2009. Net income was $11 million, up 47 percent.
"We successfully went public in May 2010 and raised $7.5 million in a private placement with two institutional investors in December 2010, which has strategically positioned our Company for future growth and expansions," says Jinli Guo, chairman and CEO. "We believe we will continue to see strong growth in all three of our businesses units consisting of electronic furniture, multimedia/digital speakers, and video products in 2011 and beyond. Our core growth strategy will remain product innovation; however increased distribution and improved branding will be our key initiatives going forward that will also contribute greatly to our success."
AIVtech International Group Co. is the parent company of wholly owned Shenzhen AIVtech Company Limited, which owns 70% of Dongguan AIVtech Company Limited. Guo owns the remaining 30% of Dongguan AIVtech. Founded in 2004, the Company focuses on the integration of electronic products, such as multimedia speakers and video games, with furniture and has coined the term "electronic furniture" to describe its products. http://www.aivtechgroup.com.
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