Gree Electronics Announces Third Quarter 2014 Financial Results

It is reported that Zhuhai Gree Electric Appliance Co., Ltd., established in 1991, is currently the world's largest state-owned holding professional air-conditioning company that integrates R&D, production, sales and service. In 2012, it achieved a total operating revenue of 100.11 billion yuan, becoming the first in China. Over one hundred billion listed company of home appliances; in 2013, it achieved total operating revenue of RMB 120.043 billion, net profit of RMB 10.871 billion, and tax payment of over RMB 10.070 billion. It is China’s first home appliance company with net profit and tax revenue exceeding RMB 10 billion for 12 consecutive years. Top US "Fortune" magazine "Top 100 Chinese listed companies."

In the first half of 2014, Gree Electric Appliances realized total operating revenue of 58.93 billion yuan, a year-on-year increase of 10.17%; net profit attributable to shareholders of listed companies net of non-recurring gains and losses was 6.389 billion yuan, an increase of 96.14% year-on-year. Continue to maintain a steady development trend.

On the evening of October 30, Gree Electric released the 2014 three quarter report. The report shows that in the first three quarters, Gree's total operating revenue exceeded 100 billion yuan, an increase of 12.7% year-on-year, and net profit attributable to shareholders of listed companies was 9.83 billion yuan, a year-on-year increase of 29.7%. Among them, in the third quarter, the company achieved operating income of 40.54 billion yuan, an increase of 16% year-on-year, and achieved a net profit attributable to shareholders of listed companies of 4.11 billion yuan, an increase of 15%.

Gree's third-quarter earnings and earnings growth rate continued to maintain a good momentum of development.