At the Gree 2024 Global Dream Ceremony on January 28, Dong Mingzhu publicly announced that he would give an additional 200 million yuan to employees as year-end bonuses. After the opening of the market on January 29, the share price of Gree Electric Appliances **.
Dong Mingzhu said at the meeting that 2023 is the year of the best results in the 33 years since the establishment of Gree Electric Appliances, and the company's tax revenue has created a record high. This achievement is inseparable from the hard work of every employee and the spirit of teamwork. In order to allow employees to fully enjoy the fruits of the company's development, Dong Mingzhu decided to spend an additional 200 million yuan to give employees a year-end bonus.
Dong Mingzhu also revealed that he hopes to give the country more than 20 billion in taxes in 2024, and once again reiterated Gree's view that it does not care about the stock price. Gree does not care about the stock price, emphasizing that Gree Electric has its own mission and responsibility. She emphasized that a good enterprise is not supported by stock prices, but by the strength and innovation of the enterprise, and by the technology of the enterprise. For shareholders, Dong Mingzhu shouted that if you have confidence in Gree, you should hold Gree for a long time.
Judging from the performance of the secondary market, the share price of Gree Electric has begun to fall since hitting a high point on April 24, 2023, and as of January 29, it has accumulated **157%。
In 2023, Gree Electric's net profit will be about 29 billion yuan. Since 2012, Gree Electric has achieved a revenue of 1,876.7 billion yuan, a cumulative net profit of 230.4 billion yuan, and a cumulative tax payment of 1,534400 million yuan, during which the company also paid a total of 1067 dividends to shareholders600 million yuan. In the past 5 years, Gree Electric has paid an average of 140 dividends per year7.3 billion yuan. According to the 2023 performance forecast disclosed by Gree Electric Appliances, Gree Electric Appliances expects to achieve a total operating income of 205 billion yuan to 210 billion yuan in 2023, a year-on-year increase of 78%—10.4%；The net profit attributable to the parent company was 27 billion yuan to 29.3 billion yuan, a year-on-year increase of 102%—19.6%。
Appendix[gf]f06c[gf] Gree Electric Appliances - Intelligent** Analysis Report (January 29).
Zhuhai Gree Electric Co., Ltd. was established in 1991, in the early days of its establishment, mainly relying on the assembly and production of household air conditioners, has now developed into a diversified, technology-based global industrial manufacturing group, covering the two major fields of household consumer goods and industrial equipment, and its products are exported to more than 190 countries and regions. Listing: In 1996, the company was listed on the Shenzhen ** Stock Exchange, and the first 000651. The company has 77 production bases at home and abroad, located in Guangdong, Chongqing, Anhui, Hebei, Henan, Hubei, Hunan, Jiangsu, Zhejiang, Tianjin, Sichuan, Jiangxi, Shandong, Brazil, Pakistan; At the same time, there are 6 renewable resource bases in Changsha, Zhengzhou, Shijiazhuang, Wuhu, Tianjin and Zhuhai, covering the entire industrial chain from upstream production to downstream, realizing green, circular and sustainable development. The company has 16 research institutes, namely: Refrigeration Technology Research Institute, Mechanical and Electrical Technology Research Institute, Household Appliance Technology Research Institute (two), New Energy Environmental Technology Research Institute, Health Technology Research Institute, Communication Technology Research Institute, Intelligent Equipment Technology Research Institute, Robot Research Institute, Internet of Things Research Institute, Equipment Power Technology Research Institute, Motor System Technology Research Institute, Washing Technology Research Institute, Refrigeration and Refrigeration Technology Research Institute, Building Environment and Energy Conservation Research Institute, and Electrical Engineering and Electrical Materials Research Institute. There are 152 research institutes, 1411 laboratories, 1 academician workstation (motor and control), 1 national key laboratory, 1 national engineering technology research center, 1 national industrial design center, 1 national enterprise technology center, and 1 robot engineering technology research and development center. Chairman: Dong Mingzhu
Ms. Dong Mingzhu, with a master's degree, is currently the chairman and president of Zhuhai Gree Electric Appliance Co., Ltd. He has successively served as a salesman, deputy director of the business department, director of the business department, deputy general manager, vice chairman and president of Gree Electric Appliances. He was re-elected as a deputy to the 10th, 11th, 12th, 13th and 14th National People's Congress, a member of the 10th, 11th and 12th Executive Committee of the All-China Women's Federation, a member of the Expert Committee of the 13th Five-Year Plan of the National Development and Reform Commission, a member of the Advisory Committee of the All-China Federation of Industry and Commerce, a United Nations "Urban Sustainable Development Ambassador" and the first rotating chairman of the "Sustainable Development Committee" of the United Nations Development Programme. Chairman of the Subcommittee on Testing and Evaluation of Refrigeration Compressors of the International Organization for Standardization Technical Committee on Refrigeration and Air Conditioning (ISO TC86 SC4), etc. He and his projects have won honors and titles such as "National Model Worker", "National May Day Labor Medal", "National 38 Red Banner Pacesetter", China Patent Gold Award, the 3rd China Quality Award, Liu Yuanzhang Quality and Technology Contribution Award, Fudan University Enterprise Management Outstanding Contribution Award, Tsinghua Management Review 2018 Top Ten Management Innovation Leaders and Practitioners, "China Outstanding Quality Person (National Quality Award Individual Award)", 4th China Quality Award Nomination Award, China Standard Innovation Contribution Award Outstanding Contribution Award and other honors and titlesShe has been selected as "CCTV China's Economic Person of the Year" by ** TV station for 3 times, and has been selected into the "World's Most Influential Business Women" list by Fortune magazine for 17 times.
Vice President: Zhuang Pei
Mr. Zhuang Pei, bachelor degree, senior engineer, is currently the vice president of Zhuhai Gree Electric Appliance Co., Ltd. From 2002 to April 2003, he served as the assistant to the president of the company. Since April 2003, he has served as the vice president of the company.
Vice President: Fang Xiangjian
Mr. Fang Xiangjian, master, senior engineer, is currently the vice president of Zhuhai Gree Electric Appliance Co., Ltd. From July 2004 to December 2016, he successively served as assistant to the director, deputy director and director of Zhuhai Gree Electric Appliance Co., Ltd.'s first screening branch; Director of Quality Control Department; Since December 2016, he has served as the assistant president of Zhuhai Gree Electric Appliance Co., Ltd.; From November 2021 to the present, he has served as the vice president of Zhuhai Gree Electric Appliance Co., Ltd.; He was awarded the May Day Labor Medal of Guangdong Province, Liu Yuanzhang Quality and Technical Talent Award, and the Management Talent Award of China Management Science Society; He serves as the vice president of China Association for Quality Inspection, a professional member of China Fire Protection Association, a member of the 7th Academic Committee of China Association for Quality, and a vice chairman of the Green and Efficient Energy Products Professional Committee of China Energy Conservation Association.
Production and sales of air conditioners, self-operated air conditioners export business and related spare parts import and export business.
Including household air conditioners, HVAC, refrigerators, washing machines, water heaters, kitchen appliances, environmental appliances, communication products, smart buildings, smart homes and other consumer fields, as well as high-end equipment, precision molds, refrigeration and refrigeration equipment, motors, compressors, capacitors, semiconductor devices, precision casting, basic materials, industrial energy storage, renewable resources and other industrial fields.
Percentage of the latest R&D expenses
According to the 2022 annual report of Gree Electric Appliances, the company's R&D investment this year was 643 billion yuan, accounting for 3 percent of operating income40%, the R&D expense ratio was lower than that of the previous year. The company has a total of 12,977 R&D and technical service personnel, accounting for 17 of the company's total number93%。The company has newly authorized 3,270 patents (3,270 invention patents).
Changes in R&D investment in the past five years
In the past five years, Gree Electric Appliances has invested less than sales and management expenses, and the R&D investment in the past five years has been 3245.2 billion, the ratio of R&D to operating income increased from 367% down to 3 in 202240%。
Historical dividends:Since 2015, Gree Electric has implemented 11 cash dividends. The cumulative net profit was 24454655310,000 yuan, of which the cumulative dividend amount in the dividend year is 9021561790,000 yuan.
Latest dividends:The net profit attributable to the parent company in the latest period in 2022 was 2450662380,000 yuan, with a dividend amount of 561384160,000 yuan, with a dividend ratio of 2291%。
Market-wide comparison:The dividend ratio is higher than the whole market 5833% of companies.
Through AI quantitative analysis, the comprehensive financial situation outperformed the A** field by 7152%**, with some potential for added value.
Valuation trend analysis
From the perspective of its own valuation trend, the current valuation indicators of Gree Electric Appliances are at a relatively low level in the past year; PE and PS are at a relatively balanced level in the past year.
1.Performance**
As of 2024-01-29, a total of 35 institutions have made ** on Gree Electric's 2024 annual results within 6 months; Earnings per share in 2024 are 55 yuan, with an annual growth rate of 557%, *Net profit in 2024 3229.4 billion yuan, with an annual growth rate of 372%。
2.Agency Ratings
In the last 6 months, 22 research reports have rated Gree Electric Appliances, with 77% of the recommendations**, and the overall rating is "**."
3.Institutional perspectives
Institutional reviews
The company's business continues to diversify.
The company's profitability has improved.
The expense ratio has risen.
The new high contract liabilities reflect the active delivery of goods by dealers.
High dividends create a margin of safety.
The results of cost reduction and efficiency improvement have emerged.
The company announced a new round of buybacks.
Risk Warning
Macroeconomic growth has slowed.
Global asset allocation and overseas market expansion risk.
Contract liabilities hit a new high.
The risk that the new business transformation will not be as expected.
The effect of channel reform is not as expected.
Terminal demand fluctuates.
Domestic demand has fallen sharply.
Note: The appendix is from the intelligent report of the game digital app, which is automatically generated by AI.