Gree Electric Appliances surged 60% in the first half of its total revenue 40.2 billion yuan

Gree again handed in a beautiful financial report.

On the evening of July 26, Gree announced the 2011 semi-annual report. During the reporting period, the company achieved total operating revenue of 40.239 billion yuan, up 60.03% year-on-year; net profit attributable to parent company was 2.208 billion yuan, up 40.37% year-on-year; earnings per share was 0.78 yuan, up 40.37% year-on-year, exceeding market expectations. Industry The leading position is more stable.

The report pointed out that the significant increase in total operating income and net profit was mainly due to the strong domestic and foreign market demand, the increasingly significant brand and channel advantages, and the significant increase in product sales revenue.

1 Hz inverter air conditioner leads the industry trend

In March 2011, Gree announced its service policy of “Greetings of variable-frequency air conditioners for one year free of charge”. Many companies followed suit and the overall level of the air conditioner industry was greatly improved.

According to expert analysis, “The one-year free replacement of inverter air conditioner” is actually a higher challenge for self-improvement in technological innovation. Whether it is technically or service-oriented, Gree Electric has surpassed the international giants of a hundred years of refrigeration experience.”

Thanks to the comprehensive mastery of the low-frequency technology of 1 Hz and the frequency conversion core components, Gree's inverter air conditioners will shine in the first half of the year. According to the report, in the first half of the year, Gree Air-Conditioning achieved sales revenue of 37.204 billion yuan, a year-on-year increase of 61.86%. According to informed sources, Gree's inverter air conditioner sales have exceeded 40% of total sales.

R290 International leader in new refrigerant technology for environmental protection air conditioners

On July 14, the world's first R290 (propane) split air conditioner demonstration production line for hydrocarbon refrigerant was officially completed at Gree Electric Appliances, and successfully passed the on-site acceptance of the joint expert group of China and Germany to reach the international advanced level. This marks that the R290 refrigerant air-conditioner, which is attracting much attention from the industry, will be mass produced. Chinese companies represented by Gree are taking the lead in the international research and application of new refrigerant technology for the first time.

As an air-conditioner refrigerant, the R290 is a brave innovation for China's industrial community to cope with global environmental problems such as ozone layer destruction and climate warming. In December 2008, the R290 refrigerant air-conditioner independently developed by Gree Electric Appliance successfully passed the acceptance test of the China Household Electrical Appliances Association's expert group. In September 2010, it passed the European authoritative safety certification, the German VDE certification, and obtained the European market access permit. The successful development of the Gree R290 refrigerant air conditioner has enabled China's refrigeration industry to break through the monopoly of developed countries on the new generation of refrigerants.

It is reported that the first Gree R290 refrigerant air conditioner was sold to the Maldives in May this year.

Layout of the U.S. Market Global Strategy Speeds up

In the first half of 2011, Gree Electric's overseas markets once again achieved outstanding results. During the reporting period, Gree Electric Appliances exported 9.291 billion yuan, an increase of 61.78% year-on-year.

Just a month ago, Gree Electric's US subsidiary was officially established in the industrial city of Southern California, USA.

As the world's largest air-conditioning manufacturer, Gree air-conditioner products are selling well in the international market and have so far covered more than 100 countries and regions in the world. According to statistics, at present, Gree sells 500,000 units of its own brand air-conditioners each year in Brazil, and its own brand exports in the United States also reach 1.5 million units.

Experts pointed out that in the international market, Gree Air Conditioning currently has three advantages: First, technological advantages, Gree independent research and development of a number of core technologies to fill the gaps in the industry, firmly occupy the high ground of the industry technology. The second is product advantages, from the window to the split machine, from home to business, Gree Electric is the industry's most complete lineup of products. The second is quality advantages. In terms of product quality and appearance design, Gree air-conditioning has been highly recognized by the international market after years of testing in the international market.

As an important part of Gree's globalization strategy, the US subsidiary plays an important role in promoting Gree's global brand construction, business development and product internationalization.

System Solution Leads Central Air Conditioning Market

In response to the specific requirements and differences of refrigeration equipment for various industries, in the first half of this year, Gree Electric Systems integrated new high-efficiency centrifugal chillers, modular DC inverter heat recovery multiple water heaters, modular air conditioners, and computer room-specific air conditioners. The industry's leading innovative products and technologies classify central air-conditioning products into five categories: “Real Estate,” “Commercial,” “Sports & Health,” “Transportation,” and “Industrial Production,” and provide customers with the most energy, health, and comfort. Central air conditioning system solution.

With the advantage of “systematic solution”, Gree Central Air-Conditioning has expanded its footprint in the domestic market and accelerated its occupation of the market. It successfully won bids for air-conditioning tenders for more than 30 railway stations, including the Beijing-Shanghai high-speed railway and the Guangzhou-Shenzhen Railway. The largest air-conditioning equipment supplier in the transportation sector. According to a central air-conditioning research report released by the HVAC media organization, in 2010 Gree Central Air Conditioning Co., Ltd. achieved a market share of 9.6% and became the first brand of domestically produced central air-conditioning.

Gree said that in the second half of this year, the company will continue to enhance the core of the company by increasing investment in R&D, improving air-conditioning product lines and optimizing product mix, increasing the promotion of central air-conditioning, and exporting its own brands. Competitiveness strengthens Gree Air Conditioning's international leading position.