KONKA Group Acquires Beko Changzhou Plant and Reaches a Strategic Cooperation with Arcelik

SHENZHEN, China, Oct. 12, 2020 /PRNewswire/ -- On September 30, Jiangsu KONKA (000016.SZ) Smart Electrical Appliances Co., Ltd. acquired Beko Changzhou Plant and entered into a strategic cooperation agreement with Arcelik (the parent company of Beko).

                                                                                              The signing ceremony of the cooperation agreement between KONKA Group and Arcelik

By signing this agreement, both parties agree to share their developments related to systematic washing machine design. This will help make up for KONKA's engineering capacity shortcoming for KONKA drum washing machine manufacturing, facilitate the export of KONKA washing machines to Europe, America and other regions, and further promote the globalization of KONKA white goods and the KONKA brand.

In 2021, the forecasted annual sales volume of KONKA drum washing machine is over 500,000 sets, reaching a level near first-tier brands. In the next 3 years, the planned annual total sales volume of KONKA washing machine will surpass 1 million sets. By then, KONKA will become one of the first-tier washing machine brands in China.

The strong alliance with Arcelik, as one of the major measures of KONKA's Ten-billion-sales-volume Strategy for White Goods, marked the beginning of a new phase for KONKA drum washing machine: a shift from OEM to independent R&D, design, production and manufacturing. In the future, led by KONKA Group's strategic transformation, KONKA white goods will continue to update its products targeting consumer pain points, such as intelligence and healthcare, and enhance its core competitiveness.