Suning Appliance Co Ltd<002024>, which operates franchised retail appliance shops in China, yesterday announced that it will open 30 chain stores in Hong Kong, bringing its total to 50, in the next three years.

The firm will aim to have a market share of 25% at the end of 2012.

On Dec. 30, 2009, the appliance manufacturer spent HK$35 million to become the sole owner of Citicall Retail Management to boost its expansion in Hong Kong.

Last year, Suning Appliance's net profit surged 32.79% year on year, hitting RMB 2.88 billion, and its operating revenue was RMB 58.3 billion, up 16.84% year on year.

The enterprise had 941 stores in Chinese 200 cities at the end of 2009, sources reported.