Gree Electric Appliances, Inc. of Zhuhai Company Profile
Gree Electric Appliances, Inc. of Zhuhai, founded in 1991. Initially, the company mainly relied on the assembly and production of residential air conditioners. It has now developed into a diversified, technology-based global industrial manufacturing group, covering the two major fields of residential and commercial products, which are exported to more than 190 countries and boasting over 500 million users worldwide.
In 2018, Gree’s global market share of residential air conditioners was 20.6%, according to the Nikkei newspaper, maintaining the No.1 position globally for several years. Currently, Gree’s annual production capacity is over 60 million sets for residential air conditioners (RAC) and 6 million sets for commercial air conditioners (CAC).
Action makes the future and innovation makes achievement. Gree emphasizes innovation-driven development, adopting a flexible R&D funding approach. Gree has over 90,000 employees, 1 Academician Workstation, 5 National Technology R&D Centres, 16 Research Institutes, and 152 Research Centres. By April 2024, the company had applied for 120,164 patents, including 64,729 invention patents, and had 21,638 invention patents authorized. Gree holds 44 internationally leading technologies and has received numerous awards. According to iMedia’s “HVAC and Heat Pumps,” Gree central air conditioners have dominated the Chinese market for 12 consecutive years.
Besides that, Gree has 77 production bases worldwide, including 18 air conditioner bases and 8 household appliance bases. The Zhuhai base alone spans over 1 million square meters and houses nearly 10 central air-conditioning production lines. The company covers the entire industrial chain from upstream production to downstream recycling, achieving green, circular, and sustainable development. Gree boasts various national research centres and laboratories, positioning itself as a national advisory centre for refrigeration equipment research and evaluation.
Gree prioritizes quality and adheres to integrity in operations, focusing on customer-oriented needs. The company strictly controls quality at the source and strengthens system construction. In 2018, Gree received the third “China Quality Award.” The company’s quality policy emphasizes making superior products, building a famous brand, expanding business scale, and striving to achieve world-class quality.
Gree remains committed to transformation and upgrading. The company has implemented supply-side structural reforms, optimized its industrial layout, and promoting intelligent manufacturing upgrades for high-quality development. Since 2013, Gree has diversified into intelligent equipment, communication devices, and mold sectors, transitioning from specialized air conditioner production to a high-tech industry.
Gree Electric Appliances, Inc. of Zhuhai, with its emphasis on innovation, quality, and diversification, continues to solidify its position as a global leader in the industry. In 2023, Gree Electric Appliances achieved total revenue of 205.018 billion yuan, a 7.82% increase. The net profit attributable to shareholders was 29.017 billion yuan, marking an 18.41% year-on-year growth.
