Core Viewpoint - The company reported a revenue of 40 billion yuan in Q3 2025, a year-on-year decrease of 15%, and a net profit attributable to shareholders of 7.1 billion yuan, down 10% year-on-year. However, the balance sheet shows healthy operating quality with significant growth in operating cash flow, low inventory levels, and an increase in contract liabilities [4]. Revenue Analysis - The overall revenue growth for the company from Q1 to Q3 2025 was +14%, -12%, and -16%, respectively. The revenue growth including advance receipts was +9%, -13%, and -7%. The decline in Q3 was attributed to the reduction of national subsidies and pressures in the central air conditioning export market. However, online price competition eased compared to Q2 [5]. - For household air conditioning, domestic sales growth was +2%, +7%, and +3% from Q1 to Q3 2025, while exports showed a decline of -4% and -15% in Q2 and Q3, respectively. Online sales for Gree in the first half and Q3 were up 21% and 18% year-on-year, while offline sales were down -3% in Q3 [5]. - The central air conditioning sector did not show improvement in domestic scale decline in Q3 compared to the first half of 2025, indicating that the company's operational trends align closely with the industry [5]. Profitability Analysis - The company's net profit margin increased by 1.0 percentage points year-on-year in Q3 2025, despite a slight decrease in gross profit margin. This improvement was driven by a reduction in asset and credit impairment losses, lower management and financial expense ratios, and a decrease in the income tax rate [6]. Cash Flow and Inventory Management - The company reported a significant increase in operating cash flow, reaching 45.7 billion yuan in the first three quarters, a year-on-year increase of 260%. This was primarily due to a reduction in restricted funds such as notes and guarantee deposits [8]. - Inventory levels remained low, with a book value of 25.3 billion yuan in Q3 2025, indicating that the new channel model is functioning effectively [8]. - The company maintained a strong cash reserve, totaling 162.5 billion yuan in cash, trading financial assets, and other current assets as of Q3 2025 [8].

近日，有网友在社交平台发布视频称，其在应聘时加入"格力电器（000651）杭州有限公司储备干部招聘群"，咨询合同细节时遭群内人员辱骂。11月4 日，南都N视频记者从格力电器（杭州）有限公司获悉，视频中提到的招聘人员并非公司员工，视频中关于公司招聘内容的描述，与公司实际的招聘信息 存在较大出入。 该网友发布的聊天记录截图。 该网友在视频中表示，此前在浙江一所高校招聘会上，其加入"格力电器杭州有限公司储备干部招聘群"，咨询合同细节时遭群内人员辱骂。该网友发布的 聊天截图显示，对方发出"在我们村，你这还上本科，汪汪吃的都比你好"等相关言论。该事件随后引发关注。 三、敬请广大媒体及自媒体停止不实内容转载传播,共同维护企 业合法权益与清朗网络环境。 二、视频中关于我司招聘内容的描述，与我司实际的招聘信息存在较大出入。请应聘者关注我司官方招聘平台，获取准确招聘信息。 三、敬请广大媒体及自媒体停止不实内容转载传播，共同维护企业合法权益与清朗网络环境。 说 明 近日,抖音平台上有关于"格力电器(杭州)有限公司"校园招 聘的相关讨论,对此我司高度重视并第一时间进行核实,现将相关情 况说明如下: 一、视频中提到的招聘人员并非我司 ...

Market Overview - The white goods sector experienced a slight decline of 0.1% on November 4, with Changhong Meiling leading the drop [1] - The Shanghai Composite Index closed at 3960.19, down 0.41%, while the Shenzhen Component Index closed at 13175.22, down 1.71% [1] Stock Performance - Notable stock performances in the white goods sector included: - Snowman Electric (001387) closed at 14.07, up 0.64% with a trading volume of 23,100 shares - TCL Smart Home (002668) closed at 11.10, up 0.63% with a trading volume of 348,200 shares - Gree Electric (000651) closed at 39.71, up 0.48% with a trading volume of 398,200 shares - Haier Smart Home (600690) closed at 26.65, down 0.26% with a trading volume of 447,900 shares - Midea Group (000333) closed at 75.16, down 0.31% with a trading volume of 302,600 shares [1] Capital Flow - The white goods sector saw a net inflow of 177 million yuan from institutional investors, while retail investors experienced a net outflow of 77.63 million yuan [1] - Detailed capital flow for key companies included: - Midea Group (000333) had a net inflow of 97.02 million yuan from institutional investors, while retail investors had a net outflow of 13.1 million yuan [2] - Gree Electric (000651) saw a net inflow of 74.56 million yuan from institutional investors, with retail investors experiencing a net outflow of 3.70 million yuan [2] - Haier Smart Home (600690) had a net inflow of 54.68 million yuan from institutional investors, while retail investors had a net inflow of 617,320 yuan [2]

Core Points - A video posted by a netizen claims that during a job application process for Gree Electric Appliances (Hangzhou) Co., Ltd., the individual faced verbal abuse from members of a recruitment group [2][4] - Gree Electric Appliances (Hangzhou) Co., Ltd. issued a statement clarifying that the individuals mentioned in the video are not company employees and that the recruitment group was unauthorized [4] Group 1 - The netizen reported being insulted in a recruitment group for Gree Electric Appliances while inquiring about contract details [2][4] - The company emphasized that the recruitment information shared in the video significantly deviates from the actual recruitment details provided by the company [4] - Gree Electric Appliances (Hangzhou) Co., Ltd. stated that it reserves the right to pursue legal action against the individuals involved in the unauthorized recruitment group [4] Group 2 - The company urged job applicants to refer to the official recruitment platform for accurate information regarding job openings [4]

Core Points - Gree Electric Appliances (Hangzhou) Co., Ltd. issued a statement addressing recent discussions on Douyin regarding its campus recruitment, emphasizing that the individuals mentioned in the video are not company employees and acted without authorization [1] - The company clarified that the recruitment information presented in the video significantly deviates from its actual recruitment details, urging applicants to refer to the official recruitment platform for accurate information [1] Recruitment Information - Gree Electric has officially commenced its campus recruitment for the 2026 graduating class, targeting undergraduate, master's, and doctoral graduates across various positions including technology research and development and information technology [4] - The recruitment process includes online application, online written test, professional interview, comprehensive interview, intention communication, document review, and offer issuance [4] - In 2025, Gree recruited over 5,000 university graduates [5] Talent Management Policies - Gree's chairman, Dong Mingzhu, stated that the company does not evaluate talent based on age or experience but focuses on youthful thinking, innovation capability, responsibility, and a fighting spirit [6] - The company has implemented a "no hiring of job hoppers" policy, which aims to prevent disruptions to normal operations and protect business secrets, although it has faced criticism for limiting talent mobility [6] - In 2023, Gree introduced a "lifetime accountability system for core technical positions," holding employees responsible for any issues arising from projects they managed during their tenure [6] Financial Performance - For Q3 2025, Gree reported a revenue of 39.855 billion yuan, a year-on-year decrease of 15.09%, and a net profit of 7.049 billion yuan, down 9.92% [6] - For the first three quarters of 2025, the company achieved a revenue of 137.18 billion yuan, a decline of 6.50%, with a net profit of 21.461 billion yuan, down 2.27% [6]

Core Viewpoint - Gree Electric Appliances (Hangzhou) Co., Ltd. issued a formal statement addressing unauthorized recruitment activities on Douyin, emphasizing that the individuals involved are not company employees and that the recruitment information shared is inaccurate [3][4]. Group 1 - The recruitment personnel mentioned in the video are not employees of Gree Electric Appliances and acted without authorization, potentially harming the company's reputation and the involved students [3]. - The descriptions of the recruitment content in the video significantly deviate from the actual recruitment information provided by the company, urging applicants to refer to the official recruitment platform for accurate details [3]. - The company requests media and self-media outlets to cease the dissemination of false information to protect its legal rights and maintain a clear online environment [4].

Core Points - A female university student criticized the recruitment process of Gree Electric Appliances on social media, leading to significant attention [1] - Gree Electric Appliances (Hangzhou) issued a formal statement addressing the incident [1] Group 1 - Gree Electric Appliances (Hangzhou) took the incident seriously and conducted an immediate investigation into the claims made on social media [3] - The recruitment personnel mentioned in the video were not actual employees of the company and acted without authorization, causing harm to the company's reputation and the student involved [3] - The company stated that the recruitment information described in the video significantly deviated from the actual recruitment details provided by Gree Electric Appliances [3]

Core Viewpoint - Gree Electric Appliances (Hangzhou) Co., Ltd. issued a statement addressing false recruitment claims circulating on Douyin, emphasizing that the individuals involved are not authorized employees and that the recruitment information shared is inaccurate [1][5]. Group 1: Company Response - The company clarified that the individuals mentioned in the recruitment discussions are not employees and acted without authorization, potentially harming the company's reputation and the affected students [1]. - Gree Electric Appliances stated that the descriptions of recruitment content in the video significantly differ from the actual recruitment information, urging applicants to refer to the official recruitment platform for accurate details [1]. - The company requested media and social media platforms to cease the dissemination of false information to protect its legal rights and maintain a clear online environment [1]. Group 2: Incident Details - A female university student reported being verbally abused by recruitment personnel during a campus recruitment event held by Gree Electric in Hangzhou on October 29, claiming that the recruitment group was misleading and that many personnel were intermediaries [5]. - The student alleged that when she inquired about contract details, she was insulted with derogatory remarks, questioning her qualifications and background [5]. Group 3: Company Background - Gree Electric Appliances (Hangzhou) Co., Ltd. was established in April 2016 as a wholly-owned subsidiary of Zhuhai Gree Electric Appliances Inc., located in the Qiantang District of Hangzhou [7]. - The company represents Gree's 11th global production base, with a total investment of 7.5 billion RMB, covering approximately 1,400 acres, and aims to develop a smart factory and the largest export base [7].

Core Viewpoint - Gree Electric Appliances (Hangzhou) Co., Ltd. issued a stern statement on the evening of November 3rd [1] Group 1 - The company emphasized the seriousness of the situation in its statement [1]

Core Viewpoint - A recent incident involving a female university student being insulted during a recruitment event by a staff member associated with Gree Electric has raised significant attention, prompting the company to issue a formal statement addressing the situation [1]. Group 1: Company Response - Gree Electric (Hangzhou) Co., Ltd. issued a statement on November 3, clarifying that the individual mentioned in the video is not an employee of the company and acted without authorization, causing harm to both the company's reputation and the student involved [1]. - The company emphasized that the recruitment information described in the video significantly deviates from its actual recruitment details, urging applicants to refer to the official recruitment platform for accurate information [1]. - Gree Electric called on media and social media platforms to cease the dissemination of false information to protect the company's legal rights and maintain a clear online environment [1].