Asia300

Gree Electric Appliances, Inc. of Zhuhai

China

  • 1m
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Mar 24, 2017
Prev close: 31.54
Mar 24, 2017
Market cap:
Market cap(USD):
189,736M
27,545M
Shares: 6,015.73M

Currency in CNY

Company profile

Market(Ticker): SHE(000651)
Sector:
Industry:
Consumer Durables
Electronics/Appliances
Full time employees: 70,561

Business summary

Gree Electric Appliances, Inc. of Zhuhai engages in the research, development, manufacture, marketing, and sale of air conditioners and other household electric appliances. Its business activities include the manufacture and sale of pumps, valves, compressors, packaging equipment, motors, transmissions, control equipment, wires, cables, fiber optic cables, electrical equipment, and household electrical appliances; wholesale of machinery equipment, hardware, and electronic products; and the retail of household appliances and electronic products. The company was founded on December 13, 1989 and is headquartered in Zhuhai, China.

Company background

Gree Electric Appliances is China's biggest air conditioner maker and one of the largest in the sector worldwide in terms of sales. It has formed a partnership with Daikin Industries of Japan, the world's largest air conditioner maker. In addition to its core Gree-brand air conditioners, it produces household appliances such as electric fans, water purifiers, air purifiers, rice cookers and humidifiers under the Tosot brand. The company is fiercely competing with fellow Chinese air conditioner maker Midea Group over market share in China.

Founded in 1991, Gree Electric is based in Zhuhai, Guangdong Province. Chairwoman Dong Mingzhu is a well-known female executive in China, and often appears in TV commercials and on programs. Many Chinese women look up to her as a role model. Gree Electric listed on the Shenzhen Stock Exchange in 1996. A state-run entity owned by the Zhuhai municipal government owns 18% of the company, making it the largest shareholder.

In March 2015, the company announced it will enter the smartphone market. It plans to launch Gree-brand smartphones by the end of 2015. It has set a sales target of 100 million units a year in a bid to go toe-to-toe with major smartphone makers in the near future.

In the news

Financial highlights

Dec 2015

  • Local currency
  • US Dollar
Revenue 99,812.55M
Gross profit 33,142.45M
Operating income 12,537.67M
Income before tax 14,906.17M
Net income 12,532.44M
EBITDA 13,855.40M
Diluted EPS 2.08
Dividends per share 1.5
Total assets 161,698.01M
Total liabilities 112,996.83M
Total equity 47,521.37M
Operating cash flow 44,463.02M

Currency in CNY

Revenue 15,880.77M
Gross profit 5,273.16M
Operating income 1,994.81M
Income before tax 2,371.66M
Net income 1,993.98M
EBITDA 2,204.47M
Diluted EPS 0.33
Dividends per share 0.23
Total assets 24,901.13M
Total liabilities 17,401.26M
Total equity 7,318.18M
Operating cash flow 7,074.33M

Currency in USD

Valuation measures

Dec 2015

PER 10.74
ROA 7.88%
ROE 27.34%
Operating margin 12.56%
Profit margin 12.55%

Key executive

  • Chairman & President: Ming Zhu Dong
  • CFO, Board Secretary & Vice President: Jing Dong Wang
  • Director & Vice President: Hui Huang
  • Vice President: Pei Zhuang
  • Securities Representative: Yong Xing Yang

Share holders

  • Zhuhai State-Owned Assets Supervision & Admin. Commission(18.3%)
  • Hebei Jinghai Guaranty & Investment Co. Ltd.(8.9%)
  • China Securities Finance Corp. Ltd.(2.8%)
  • China Investment Corp. (Investment Management)(1.4%)
  • Foresea Life Insurance Co. Ltd.(1.0%)
  • Yale University Endowment(0.8%)
  • Hillhouse Capital Management Ltd. (China)(0.7%)
  • DONG MING ZHU(0.7%)
  • First State Investments (Hong Kong) Ltd.(0.6%)
  • FIL Investment Management (Hong Kong) Ltd.(0.2%)

Address

  • Website: http://www.gree.com.cn
  • Address: Jinji West Road, Qianshan District, Zhuhai, 519070, China
  • Phone: +86.756.861.4883

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