Login

Reload

Remember me Forgot it?

Not a subscriber?

Click on the button below to create your account and get immediate access to Xinhua Silk Road Database.

Start a Free Trial

Subscribe

Belt & Road Weekly Subscription Form

Research Report

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

China Brand

HOME > China Brand


Gree (000651.SZ) Q1-3 profit approaches that last year

October 9, 2018


Abstract : Gree Electric Appliances, Inc. of Zhuhai (000651.SZ) said on late Monday that its operating revenue and net profits in the first three quarters of the year both have approached those in the full year of 2017.

格力集团

BEIJING, Oct. 9 (Xinhua) -- Gree Electric Appliances, Inc. of Zhuhai (000651.SZ) said on late Monday that its operating revenue and net profits in the first three quarters of the year both have approached those in the full year of 2017.

According to its filing to the stock exchange, Gree expected its operating revenue in the first three quarters of the year to be in a range from 149.05 billion yuan to 150.86 billion yuan. Its net profits during the period are expected to be in a range from 20.58 billion yuan to 21.57 billion yuan, up 33-40 percent year on year.

It is worth noting that the company's operating revenue and net profits in 2017 amounted to 150.02 billion yuan and 22.40 billion yuan, respectively.

Gree Electric has mastered the core technology of air conditioning and obtained the lion's share in the global household air conditioner market for many years.

As of 2017, global market share of Gree's household air conditioners was 21.9 percent. As of the first half of 2018, the market share of Gree's central air conditioners was 17.03 percent, which was further expanded compared with 15.42 percent in 2017.

In addition to the main business of air-conditioning, Gree has been actively eyeing the field of intelligent equipment in recent years.

At present, the company has set up five subsidiaries and branches in Zhuhai, Wuhan and Luoyang, including ten R&D departments related to intelligent equipment, involving nearly 300 developers. (Edited by Hu Pingchao, hupingchao@xinhua.org)


Related Coverage

Focus

Think Tank

  • Foreign firms still betting on China

    October 19, 2018

    With the proactive opening-up of its market and constant improvement of its ...

  • Dollar bonds show confidence in Chinese economy

    October 18, 2018

    The dollar bond sale indicates that there is optimism about the continued im...

  • As US closes up, EU and China must build closer ties

    October 17, 2018

    The EU and China have the world's most dynamic economic relationship, their ...

  • The Chinese Race to Artificial Intelligence

    August 10, 2018

    China is no longer just a manufacturing power, but a technologically advance...

  • Ask Us A Question

    If you have any questions, please enter them in the box below.

    Reload

    Write to Us

    Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

    Click on the button below to create your account and get imhttp://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

    Start a Free Trial