GREE(SZ:000651) Di Yi Cai Jing·2025-04-28 02:14Core Viewpoint - Gree Electric Appliances experienced a significant stock increase of over 4%, reaching 47.19 yuan with a trading volume of 1.745 billion yuan, following the release of its 2024 annual report which showed a decline in revenue but an increase in net profit [1][2]. Financial Performance - For the year 2024, Gree reported operating revenue of approximately 189.16 billion yuan, a decrease of 7.26% compared to 203.98 billion yuan in 2023 [3]. - The net profit attributable to shareholders was about 32.18 billion yuan, reflecting a year-on-year increase of 10.91% from 29.02 billion yuan in 2023 [3]. - The cash flow from operating activities saw a significant decline of 47.93%, amounting to 29.37 billion yuan compared to 56.40 billion yuan in the previous year [3]. - Basic and diluted earnings per share increased by 11.69% to 5.83 yuan from 5.22 yuan in 2023 [3]. Market Position - Gree ranked first in global retail volume for split air conditioners in 2024, with a 25.40% market share in online retail for household air conditioners, second in electric fans with 13.01%, and third in electric heaters and air energy water heaters with 9.66% and 17.45% market shares, respectively [3]. Future Plans - The company plans to accelerate the renovation and upgrade of nationwide specialty stores to enhance brand image and market competitiveness, while also focusing on a precise product matrix across all price segments [4]. - Gree aims to optimize its overseas market layout and enhance product competitiveness, particularly in the industrial products sector [4]. Dividend Distribution - Gree Electric Appliances proposed a cash dividend of 20 yuan per 10 shares, totaling an estimated 11.17 billion yuan, with an additional mid-year distribution of 5.58 billion yuan, leading to a total cash dividend of approximately 16.76 billion yuan for 2024, which represents 52.06% of the net profit attributable to shareholders [4]. Recent Stock Performance - Following a peak stock price of 52.73 yuan on October 8, 2024, Gree's stock has shown a "W-shaped" fluctuation, closing at 45.22 yuan on April 25, 2025, with a total market capitalization of 253.3 billion yuan [4].