Qingdao-based Haier Group, one of the world's biggest home appliance suppliers, said on Saturday its net profit increased 12.6 percent in the first three quarters this year.

In the first nine months, Haier raked in 3.5 billion yuan (US$516.6 million) of net profit, and business revenues reached 84.3 billion yuan, up 18.80 percent, according to a statement the company filed to the Shanghai Stock Exchange.  

The company's major products saw their market share grow during the period including refrigerators, washing machines, air conditioners and water heaters, among which refrigerators and washing machines both took over 27 percent of the whole market.