(Yicai) Jan. 25 -- China's Hisense Group earned more than 40 percent of its revenue abroad last year, which shows the electronics giant has become a truly international business with localized supply and sales, according to the chairman.

Last year, the maker of television sets, phones, and white goods recorded CNY80 billion (USD11.3 billion) in overseas revenue, Jia Shaoqian said during an event yesterday where the chairman won a China Economic Newsmaker of the Year award in a contest organized by Sina Finance and Yicai.

Hisense uses mergers and acquisitions to grab sales abroad. Since 2018, Qingdao-based Hisense has acquired Toshiba's TV business, as well as Slovenian home appliances producer Gorenje, and Japanese auto air-conditioner maker Sanden Holdings. A quarter of Hisense's 100,000 employees work overseas, Jia noted.

Unlike foreign capital entering China, overseas firms acquired by Chinese companies can maintain their own brands and even strengthen their positioning, per Jia.

Smart medical care is a key direction for Hisense, the chief said. Domestically, a big development direction in the medical industry is to replace foreign technologies with homegrown products. Still, large multinational corporations such as General Electric, Philips, and Siemens dominate the field of cutting-edge medical devices. It will take one or two decades or even more to accumulate independent research and development capabilities, which means big opportunities for Hisense, he added.

Hisense also sees opportunities in other fields such as those of integrated circuits, intelligent transport, smart cities, optical communication, and auto electronics, Jia concluded.

Editors: Shi Yi, Emmi Laine