China ** newspaper Taylor.
The third watch issued a performance forecast in the middle of the night, and this wave of operation of Gree Electric Appliances is really rare!
Gree Electric made a performance announcement in the early morning
At less than two o'clock in the morning on December 21, Gree Electric suddenly released the latest performance forecast.
According to the announcement, the company expects a net profit of 27 billion yuan and 29.3 billion yuan in 2023, a year-on-year increase of 102%-19.6%；The total operating income was 205 billion yuan and 210 billion yuan, compared with 1901 in the same period last year5.1 billion yuan.
It is worth mentioning that this performance forecast also exceeded market expectations, and the market generally expects that the total operating income of Gree Electric Appliances will be 204 billion yuan, and the net profit attributable to shareholders of listed companies will be 2708.5 billion yuan.
According to the announcement, in 2023, the company's operating performance will be stable and upward, and its revenue and profit will increase compared with the same period last year. The company has always focused on the main business of air conditioning, adhered to the guidance of consumer demand, enriched product categories, and actively expanded sales channelsAt the same time, the company continued to carry out industrialization transformation, continued to make efforts in diversified fields such as high-end equipment, industrial products, and green energy, created more leading technologies, and provided growth momentum for performance.
Why the announcement was made late at night?
On December 20, the share price of Gree Electric suffered a rare **, and the market value evaporated by more than 10 billion yuan in a single day.
Because on the evening of December 19, Gree Electric announced that it intends to increase its shareholding in its holding subsidiary Gree Titanium, and has signed a share transfer agreement with 12 shareholders to 10100 million yuan of ** transfer of Gree titanium about 2700 million shares, accounting for 24 percent of Greti's total share capital54%。
In addition, the Company plans to proceed with the acquisition of the Corporate Agreement in the next 12 months2753% of Greti's shares.
This means that Gree Electric plans to receive Gree titanium in its entirety. From the perspective of the transfer, Gree Titanium is valued at about 4.1 billion yuan, which is nearly 70% lower than the valuation of 13 billion yuan at the peak in 2016.
The predecessor of Gree Titanium is called Yinlong New Energy, and Dong Mingzhu, chairman and president of Gree Electric Appliances, said at this year's shareholders' meeting that the original major shareholder of Yinlong "dug a big pit".
Earlier, in 2016, Gree Electric had planned to acquire Yinlong New Energy for 13 billion yuan, but this plan was voted down at the shareholders' meeting that year.
However, Dong Mingzhu, as the chairman of Gree Electric Appliances, still did not give up, and since then she has invested in Yinlong New Energy in her personal name, and since then she has gradually promoted Gree Electric Appliances to complete its holdings.
But in fact, Greti's performance is still in a large loss.
Financial data: As of December 31, 2022, the total assets of the target company (Greti) were 2502.4 billion yuan, with total liabilities of 24786 is 100 million yuan, and the net profit loss is 190.5 billion yuan.
In the first half of this year, Greti's performance improved. As of June 30, 2023, the company's total assets were 2431.1 billion yuan, total liabilities 24.2 billion4.5 billion yuan;From January to June 2023, the company achieved an operating income of 144 billion yuan, operating profit -14.2 billion yuan, net profit -17.1 billion yuan.
Judging from the capital market, Gree Electric investors do not buy the company's acquisition, and many investors choose to sell**.
Therefore, Gree chose to release the latest performance announcement overnight after the stock price, which means that Gree Electric still cares about market value management and caring for the secondary market.
It is worth mentioning that in the early morning of December 21, Gree also issued another announcement "Supplementary Announcement on Foreign Investment and Related Party Transactions".
Among them, it is emphasized that the company intends to increase its holdings of Gree Titanium New Energy Co., Ltd. by transferring the shares held by existing shareholders, which will help the company strengthen the management and control of Gree Titanium, give full play to the synergies between the two sides, reduce internal management costs, and respond more actively and proactively to the rapid development and changes of the new energy industry.