Company type | Public |
---|---|
SZSE: 000651 | |
Industry | Home appliances |
Founded | 1991 |
Headquarters | , China |
Area served | Worldwide |
Key people | Dong Mingzhu (Chairwoman & President) |
Products | Major appliances Small appliances |
Revenue | $27.9 billion (2022) [1] |
$3.7 billion (2022) [1] | |
Total assets | $44.3 billion (2022) [1] |
Website | www.gree.com |
Footnotes /references [2] |
Gree Electric Appliances Inc. of Zhuhai | |||||||
---|---|---|---|---|---|---|---|
Traditional Chinese | 珠海格力電器股份有限公司 | ||||||
Simplified Chinese | 珠海格力电器股份有限公司 | ||||||
|
Gree Electric Appliances Inc. of Zhuhai is a Chinese home appliances manufacturer headquartered in Zhuhai,Guangdong province. It is the world's largest residential air-conditioner manufacturer. [3] The company offers two types of air conditioners:household air conditioners and commercial air conditioners. The company also produces electric fans,water dispensers,heaters,rice cookers,air purifiers,water kettles,humidifiers and induction cookers,among other products. It distributes its products in China and abroad under the brand name Gree. The company has two joint-ventures with Daikin,Zhuhai Gree Daikin Device Co.,Ltd.,and Zhuhai Gree Daikin Precision Mold Co.,Ltd. [4]
Gree was established in Zhuhai,Guangdong,in 1989 under its former name of Zhuhai City Haili Cooling Engineering Company Limited (Chinese :珠海市海利冷气工程股份有限公司). It was restructured and renamed Gree Electric Appliances Inc. of Zhuhai in 1994. The company started as a nameless factory with 200 employees and annual production of less than 20,000 units. [3]
It was listed on the Shenzhen Stock Exchange in 1996. [5] The company grew 47% in 2008,despite the global recession,booking $23 billion in contract sales. [3] The company is a multinational enterprise with 70,000 employees and annual production of 65.5 million units. [3] In April 2011,Gree announced that first-quarter net income rose 47 percent from a year earlier to 934.7 million Yuan. [6]
Gree makes air-conditioners of all types [7] and small household appliances.
Gree Electric's Chairwoman is Dong Mingzhu,or "Sister Dong" as she is known in China. [2] She was appointed CEO in 2009.[ citation needed ] She joined the company in 1990.[ citation needed ] Dong was also the Chairwoman of its largest shareholder at the time,Gree Group,until November 2016. [8] Gree Group was owned by Zhuhai Municipal People's Government (the local government of Zhuhai).
Gree Electric is a majority state-owned enterprise,primarily by the city of Zhuhai. [9] As of 31 December 2015,the largest shareholder of Gree Electric was Gree Group;it was followed by Hebei Jinghai Investment Guarantee (for 8.91%),China Securities Finance (for 2.99%),Central Huijin Investment (for 1.40%). UBS (for 1.21%),Foresea Life Insurance (for 1.14%),Yale University (for 0.95%),Hexie Health Insurance (for 0.80%),chairwoman Dong Mingzhu (for 0.73%) and a private equity fund (for 0.71%). [2]
In 2001 Gree Group owned a 50.289% stake in Gree Electric. [10] Gree Group was also the largest shareholder of Gree Real Estate (SSE : 600185) until 2015.
In December 2019,Gree Group sold most of the stake they owned in Gree Electric,to a private equity fund.
In 2022,Gree Electric become one of the AFF Mitsubishi Electric Cup 2022,chosen by Mitsubishi Electric,along with Maspion Holdings,Wuling Motors,Mercedes-Benz,Tiger Brokers and Yanmar.
Zhuhai is a prefecture-level city located on the west bank of the Pearl River estuary on the central coast of southern Guangdong province,People's Republic of China,on the southeastern edge of the Pearl River Delta. Its name literally means "pearl sea",which originates from the city's location at the mouth of the Pearl River meeting the South China Sea. Zhuhai borders Jiangmen to the west,Zhongshan to the north and Macau to the southeast,and shares maritime boundaries with Shenzhen and Hong Kong to the northeast across the estuary.
Mitsubishi Electric Corporation is a Japanese multinational electronics and electrical equipment manufacturing company headquartered in Tokyo,Japan. It was established in 1921 as a spin-off from the electrical machinery manufacturing business of Mitsubishi Shipbuilding at the Kobe Shipyard. The products from MELCO include elevators and escalators,high-end home appliances,air conditioning,factory automation systems,train systems,electric motors,pumps,semiconductors,digital signage,and satellites.
TCL Technology Group Corp. is a Chinese partially state-owned electronics company headquartered in Huizhou,Guangdong Province. It designs,develops,manufactures,and sells consumer products including television sets,mobile phones,air conditioners,washing machines,refrigerators,and small electrical appliances. In 2010,it was the world's 25th-largest consumer electronics producer. It became the second-largest television manufacturer by market share by 2019.
Hisense Group is a Chinese multinational major appliance and electronics manufacturer headquartered in Qingdao,Shandong Province,China. Televisions are the main products of Hisense,and it is the largest TV manufacturer in China by market share since 2004. Hisense is also an OEM,so some of its products are sold to other companies and carry brand names not related to Hisense.
Konka Group Co.,Ltd. is a Chinese manufacturer of electronics products headquartered in Shenzhen,Guangdong and listed on Shenzhen Stock Exchange.
Suning.com Co.,Ltd.,formerly Suning Commerce Group Co.,Ltd.,is one of the largest non-government retailers in China,headquartered in Nanjing,Jiangsu. Suning has more than 10,000 stores nationwide and its e-commerce platform,Suning.com ranks among top three Chinese B2C companies. The operation categories include physical merchandise,such as home appliances,3C products,books,general merchandise,household commodities,cosmetics and baby care products,content products and service merchandise with the total number of SKU exceeding 3 million. It was listed on the Shenzhen Stock Exchange in 2004. In 2021,Suning.com ranked 328th on the Fortune Global 500 list.
Hisense Kelon or simply Kelon,formerly Guangdong Kelon Electrical Holdings Company Limited,is one of the largest Chinese white goods manufacturers,producing refrigerators,air conditioners,and small electric appliances. The company is well known in mainland China under its brand names Kelon (科龙) and Ronshen (容声). The head office of the company is in Shunde,Foshan,Guangdong.
Goodman Manufacturing is an American company operating as an independent subsidiary of Daikin Group,the world's largest manufacturer of heating,ventilation and air conditioning products and systems. The company,founded in 1975 and based in Waller,Texas,manufactures residential heating and cooling systems.
Midea Group is a Chinese electrical appliance manufacturer,headquartered in Beijiao town,Shunde District,Foshan,Guangdong and listed on Shenzhen Stock Exchange. As of 2021,the firm employed approximately 150,000 people in China and overseas with 200 subsidiaries and over 60 overseas branches. Midea Group is listed on Shenzhen Stock Exchange since 2013. It has been listed on the Fortune Global 500 since July 2016. Midea produces lighting,water appliances,floor care,small kitchen appliances,laundry,large cooking appliances,and refrigeration appliances. It is the largest microwave oven manufacturer,and acts an OEM for many brands. It also has a long history in producing home and commercial products in heating,ventilation and air conditioning (HVAC). It is the world's largest producer of industrial robots and appliances.
Dong Mingzhu is a Chinese businesswoman who serves as Chairwoman of Gree Electric.
Sanhua Holding Group Co.,Ltd. (三花控股集团有限公司) is a global manufacturer of controls and components for the HVAC &Refrigeration home appliance,automotive air conditioning and thermal management industries.
Zhuhai National High-Tech Industrial Development District was established in December,1992 by the State Council of the People's Republic of China. It is also called Zhuhai National Hi-Tech Industrial Development Zone. It has an initial area of 9.8 square kilometers. Following a 1999 adjustment,it now includes four industrial parks:Nanping (南屏),Sanzao (三灶),Baijiao (白蕉) and Xinqing (新青),and an innovation coast.
Suning Appliance Group Co.,Ltd. is a Chinese holding company that is the third largest shareholder of Suning Appliance,after Zhang Jindong and Alibaba Group.
Baosteel Group Guangdong Shaoguan Iron and Steel Co.,Ltd. known as Shaoguan Iron and Steel or SGIS or Shaogang or Shaosteel is a Chinese steel maker.
Taiyuan Coal Gasification (Group) Co.,Ltd. is a Chinese state-owned coal mining conglomerate based in Taiyuan,Shanxi. The company was owned by State-owned Assets Supervision and Administration Commission (SASAC) of Shanxi Provincial People's Government. However,Shanxi SASAC granted fellow state-owned enterprise Jincheng Anthracite Mining Group (JAMG) to manage their stake since 2011.
Zhuhai Gree Group Co.,Ltd. is a Chinese state-owned enterprise based in Zhuhai,Guangdong Province. The enterprise was owned and supervised by the State-owned Assets Supervision and Administration Commission (SASAC) of Zhuhai local government.
PKU Healthcare Co.,Ltd. formerly known as PKU International Healthcare Group Southwest Pharmaceutical Co.,Ltd.,is a Chinese pharmaceutical company. The major shareholder was PKU Healthcare Group,a subsidiary of PKU Founder Group. PKU Founder Group itself is a subsidiary of Peking University,in turn making the listed company a state-owned enterprise by broader definition.
Qianshan is a subdistrict of Xiangzhou District,Zhuhai,in Guangdong Province in the People's Republic of China. Formerly an important military base overseeing the Portuguese-administered enclave of Macao,it is now a Chinese manufacturing center,with particular emphasis on household appliances,airconditioners,and printing supplies.
Zhu Jianghong is a Chinese businessman who served as chairman of the board of Gree Electric between April 2001 and May 2012. He is a visiting professor at South China University of Technology and Northwest University. Zhu has been hailed as "Father of Gree".
Electra Consumer Products,stylized as ELECTRA CP,is an Israeli multi-industry public company which was founded in 1945. The company has divisions in the areas of electric consumer products,retail of electrical goods,food and beverages,sports and leisure,and real estate. Electra Consumer Products is traded on the Tel Aviv Stock Exchange and is a constituent company of the TA-90 Index of top shares,trading under the ticker symbol ECP. The company is part of the Elco Group.