China Securities Network News (Reporter Li Lingxi) On December 21, Gree Electric released its annual performance forecast for 2023. In 2023, the company is expected to realize revenue of 205 billion yuan to 210 billion yuan, up by 7.8%-10.4% year-on-year, and the net profit attributable to the mother is 27 billion yuan to 29.3 billion yuan, up by 10.2%-19.6% year-on-year.
From the historical data, the company’s annual revenue and net profit may exceed 2018 in an all-round way, setting a record high.
As a diversified, scientific and technological global industrial group, Gree Electric adheres to the diversified development path of self-reliance and independent innovation on the basis of consolidating the main business of air conditioning, and gives full play to the advantages of core technology and perfect quality around the needs of health, comfort, energy saving and intelligence, thus realizing the all-round transformation from "making good air conditioners with Gree" to "making good electrical appliances with Gree". Up to now, Gree Electric’s products have been exported to more than 190 countries and regions around the world, and more than 600 million users have witnessed the leading technology and excellent quality of Gree Manufacturing. According to industry online data, from January to November, 2023, Gree Electric ranked first in domestic air-conditioning shipments.
Gree Electric always focuses on its main business, adheres to consumer demand-oriented, enriches product categories and actively expands sales channels. At the same time, we will continue to carry out industrial transformation, continue to exert our strength in diversified fields such as high-end equipment, industrial products and green energy, create more leading technologies, and provide growth momentum for performance. In the first three quarters of 2023, Gree Electric achieved a revenue of 155.812 billion yuan, up 5.03% year-on-year, and a net profit of 20.092 billion yuan, up 9.77% year-on-year.
While paying attention to its own development, Gree Electric attaches great importance to shareholders’ returns, and continues to share its achievements with investors through cash dividends and share buybacks. Since its listing in 1996, Gree Electric has accumulated 5.269 billion yuan of equity financing, Gree Electric has accumulated more than 110 billion yuan of cash dividends, and repurchased shares of the company has accumulated about 27 billion yuan. Over the years, the dividend rate has exceeded 62% of the net profit attributable to shareholders of listed companies. Since 2020, Gree Electric has bought back about 525 million shares and cancelled about 384 million shares. On December 11th, 2023, Gree Electric has repurchased more than 60 million shares in the fourth repurchase, with a total payment of more than 2 billion yuan.
In 2023, the market is full of opportunities and challenges. With rich achievements in brand building and technological innovation, Gree Electric seized market opportunities, overcame difficulties and challenges, drove enterprises to develop steadily, and continued to share the achievements with investors through cash dividends and repurchases of company shares. In the future, Gree Electric will continue to take the mission of "carrying forward the industrial spirit, mastering the core technology, pursuing perfect quality, providing first-class services and making the world fall in love with Made in China", and in the process of deepening diversified development, it will be steady and far-reaching, and realize the corporate vision of "building a world-class enterprise and achieving a century-old brand of Gree".
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