Gree Electric recently broke a super fierce news!You see, in the middle of the night, they actually announced the latest performance forecast.
This is really unexpected!Before two o'clock, Gree Electric announced their 2023 results**. It is said that they expect a net profit of between 27 billion and 29.3 billion, an increase of 102% to 196%；Total operating income is also expected to be between 205 billion and 210 billion, compared to 1901 last year5.1 billion yuan also increased.
What's even more surprising is that this trailer exceeded the general expectations of the market. The market average estimates that the total operating income of Gree Electric is 204 billion, and the net profit is only 2708.5 billion only.
The announcement said that in 2023, Gree Electric's business performance has been very stable, with revenue and profits increasing compared with the same period last year. They have been focusing on the main business of air conditioning, and have been based on the needs of consumers, and have been increasing the variety of new products and actively exploring sales channels. At the same time, it is also working hard in many fields such as high-end equipment, industrial products, and green energy to engage in industrial transformation, and find ways to lead technology and contribute to performance growth.
As for why this news was released late at night, it is worth noting that on December 20, the share price of Gree Electric suffered an unprecedented plunge, and its market value evaporated by more than 10 billion in one day.
On the evening of December 19, Gree Electric issued an announcement announcing a high-profile plan to increase its stake in its holding subsidiary, Gree Titanium. According to the latest information, share transfer agreements have been signed with 12 shareholders to 10The ** of 100 million yuan was successfully transferred to Gree Titanium about 2700 million shares, accounting for 24 of Greti's total share capital54%。
In addition, Gree Electric also plans to carefully choose the right time to transfer the company's agreement in the next 12 months, aiming to hold 2753%。This series of developments clearly shows Gree Electric's plan to take over Gree Titanium.
From the perspective of the transfer, Greti's current valuation is about 4.1 billion yuan, which is nearly 70% lower than the valuation of 13 billion yuan at the peak in 2016.
It is worth noting that Gree Titanium was once known as Yinlong New Energy. At this year's shareholders' meeting, Dong Mingzhu, chairman and president of Gree Electric Appliances, pointed out that the problems left by the original major shareholders of Yinlong are quite complicated. Back in 2016, Gree Electric had planned to acquire Yinlong New Energy for 13 billion yuan, however, this plan was rejected at the shareholders' meeting that year.
Despite this, Dong Mingzhu, chairman of Gree Electric Appliances, did not give up lightly. Subsequently, she invested in Yinlong New Energy in her personal name and gradually promoted Gree Electric to complete its holdings.
However, Greti's performance is still showing a large loss. The financial data as of December 31, 2022 shows that Gretitan's total assets are 2502.4 billion yuan, with total liabilities of 2478.6 billion yuan, with a net profit loss of 190.5 billion yuan.
In the first half of this year, Greti's performance improved slightly. As of June 30, 2023, the company's total assets reached 243$1.1 billion, while total liabilities were $2424.5 billion yuan.
Between January and June 2023, the company recorded 14The operating income of 4 billion yuan and the operating profit were -14.2 billion yuan, net profit of -17.1 billion yuan.
Judging from the feedback from the capital market, Gree Electric's acquisition plan did not win the approval of investors, causing many investors to sell off**. Therefore, after the stock price was sharply **, Gree made the decision to release the latest results announcement late at night, showing that Gree Electric is still focused on managing market value and is committed to maintaining the secondary market.
It is worth mentioning that in the early morning of December 21, Gree also issued an announcement titled "Supplementary Announcement on Foreign Investment and Related Party Transactions". In particular, it is emphasized that the company plans to increase its shareholding in Gree Titanium New Energy Co., Ltd., a holding subsidiary, by acquiring the shares held by existing shareholders.
This initiative will help the company strengthen the management and control of Greti, give full play to the synergy between the two parties, reduce internal management costs, and more actively respond to the rapid development and changes of the new energy industry.