Gree Electric Appliances, Inc. of Zhuhai
- 52.60 CNY
- -1.94
- -3.56%
China
Aug 21, 2019Ticker
SHE(000651)Prev. close
54.54Market cap (CNY)
328,097.93MMarket cap (USD)
46,451.70MShares
6,015.73M
In the news
- China's electronics makers lose steam as market matures Dec 5, 2018
- Chinese companies rush to make own chips as trade war bites Nov 7, 2018
- Beer and cars fuel optimism for Asian corporate profits May 17, 2018
- Nikkei Asia300 Index extends losses with US 10-year bond yields above 3% Apr 26, 2018
- Trade frictions and rising US yields drag Hong Kong shares lower Apr 26, 2018 See more articles on Gree Electric Appliances, Inc. of Zhuhai
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.
Business Summary
Financial Highlights
| Dec 2018 | CNY | USD |
| Revenue | 198,282.10M | 29,965.50M |
| Gross Profit | 60,001.93M | 9,067.83M |
| Operating income | 29,487.37M | 4,456.29M |
| Income before tax | 31,272.94M | 4,726.14M |
| Net income | 26,202.78M | 3,959.91M |
| EBITDA | 32,560.98M | 4,920.79M |
| Diluted EPS | 4.35 | 0.65 |
| Dividends Per Share | 2.10 | 0.31 |
| Total Assets | 251,234.15M | 36,592.65M |
| Total liabilities | 158,353.15M | 23,064.38M |
| Total equity | 91,327.09M | 13,301.93M |
| Operating cash flow | 30,020.28M | 4,536.83M |
| Currency in CNY | Currency in USD |
Historical Data
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | |
| Revenue | 138,642.96M | 99,812.55M | 108,682.69M | 148,506.51M | 198,282.10M |
| Gross Profit | 49,910.75M | 33,142.45M | 35,703.40M | 48,747.22M | 60,001.93M |
| Operating income | 15,804.16M | 12,537.67M | 13,708.28M | 25,750.96M | 29,487.37M |
| Income before tax | 16,756.03M | 14,906.17M | 18,565.03M | 26,609.24M | 31,272.94M |
| Net income | 14,155.16M | 12,532.44M | 15,463.62M | 22,400.48M | 26,202.78M |
| EBITDA | 17,161.03M | 13,855.40M | 15,524.96M | 27,783.96M | 32,560.98M |
| Diluted EPS | 2.35 | 2.08 | 2.57 | 3.72 | 4.35 |
| Dividends Per Share | 1.50 | 1.50 | 1.80 | 0 | 2.10 |
| Total Assets | 156,230.94M | 161,698.01M | 182,373.99M | 214,987.90M | 251,234.15M |
| Total liabilities | 111,011.05M | 112,996.83M | 127,249.75M | 148,006.98M | 158,353.15M |
| Total equity | 44,152.65M | 47,521.37M | 53,972.18M | 65,614.91M | 91,327.09M |
| Operating cash flow | 18,983.86M | 44,463.02M | 15,124.68M | 16,735.64M | 30,020.28M |
| Dec 2014 | Dec 2015 | Dec 2016 | Dec 2017 | Dec 2018 | |
| Revenue | 22,500.76M | 15,880.77M | 16,359.10M | 21,974.20M | 29,965.50M |
| Gross Profit | 8,100.15M | 5,273.16M | 5,374.13M | 7,213.02M | 9,067.83M |
| Operating income | 2,564.90M | 1,994.81M | 2,063.39M | 3,810.31M | 4,456.29M |
| Income before tax | 2,719.38M | 2,371.66M | 2,794.44M | 3,937.31M | 4,726.14M |
| Net income | 2,297.28M | 1,993.98M | 2,327.61M | 3,314.55M | 3,959.91M |
| EBITDA | 2,785.11M | 2,204.47M | 2,336.84M | 4,111.13M | 4,920.79M |
| Diluted EPS | 0.38 | 0.33 | 0.38 | 0.55 | 0.65 |
| Dividends Per Share | 0.24 | 0.23 | 0.27 | 0 | 0.31 |
| Total Assets | 25,182.29M | 24,901.13M | 26,242.74M | 33,014.11M | 36,592.65M |
| Total liabilities | 17,893.46M | 17,401.26M | 18,310.63M | 22,728.34M | 23,064.38M |
| Total equity | 7,116.80M | 7,318.18M | 7,766.34M | 10,076.00M | 13,301.93M |
| Operating cash flow | 3,080.94M | 7,074.33M | 2,276.59M | 2,476.33M | 4,536.83M |
Valuation Measures
| Dec 2018 | |
| PER | 8.19 |
| ROA | 11.24% |
| ROE | 33.39% |
| Operating margin | 14.87% |
| Profit margin | 13.21% |
Key executives
- Chairman & President: Ming Zhu Dong
- Chief Executive Officer & Director: Hui Huang
- CFO, Board Secretary & Vice President: Jing Dong Wang
- Chief Engineer & Vice President: Jian Ming Tan
- Vice President: Pei Zhuang
Shareholders
- Zhuhai State-Owned Assets Supervision & Admin. Commission (18.3%)
- Hebei Jinghai Guaranty & Investment Co. Ltd. (8.9%)
- China Securities Finance Corp. Ltd. (3.0%)
- China Life Asset Management Co., Ltd. (2.0%)
- Qian Hai Life Insurance Co., Ltd. (1.9%)
- China Investment Corp. (Investment Management) (1.4%)
- E Fund Management Co., Ltd. (1.0%)
- Harvest Fund Management Co., Ltd. (0.8%)
- Bosera Asset Management Co., Ltd. (0.8%)
- China Universal Asset Management Co., Ltd. (0.8%)
Contact Details
- Website:http://www.gree.com.cn
- Address: Jinji West Road, Qianshan, Zhuhai, 519070, China
- Phone: +86.756.8614883
Related Companies
- Gree (Shijiazhuang) Small Home Appliances Co., Ltd.
- Zhengzhou Landa Compressor Co., Ltd
- Gree Electric Appliance (Wuhu) Co. Ltd.
- Gree Electric Appliances (Shijiazhuang) Co. Ltd.
- Zhuhai Gree Daikin Device Co., Ltd.
- Gree Electric Appliances (Zhengzhou) Co. Ltd.
- Gree Electric Appliances (Wuhan) Co., Ltd.
- Gree Electric Appliances (Hefei) Co., Ltd.
- Zhuhai Kaibang Motor Manufacture Co., Ltd.
- Gree Electric Appliances Chongqing Electronic Tech Co., Ltd.
- Gree Electric Appliances (Chongqing) Co., Ltd.
- Zhuhai Gree Household Electric Appliance Co. Ltd.
- Zhuhai Gree Xinyuan Electronic Co. Ltd.
- Zhuhai Gree Electric Enterprises Ltd.
- Zhuhai Landa Compressor Co. Ltd.
Competitors
- Midea Group Co. Ltd. Class A
- Shanghai Highly (Group) Co., Ltd. Class B
- Chigo Holding Limited
- Rechi Precision Co. Ltd.
- Sichuan Changhong Electric Co., Ltd. Class A
- Elec-tech International Co., Ltd. Class A
- Johnson Controls International plc
Copyright © 2019 FactSet Research Systems Inc. All rights reserved.
Last Updated on 21 Aug, 2019