GREE(000651) 犀牛财经· Xi Niu Cai Jing·2025-05-07 07:02Core Insights - Gree Electric Appliances, Inc. reported a revenue of 189.164 billion yuan for 2024, a year-on-year decrease of 7.26% [3] - The net profit attributable to shareholders was 32.185 billion yuan, reflecting a year-on-year increase of 10.91% [3] - The basic earnings per share stood at 5.83 yuan [3] Revenue Breakdown - Domestic sales revenue reached 141.510 billion yuan, down 5.45% year-on-year [5] - Export sales revenue was 28.200 billion yuan, up 13.25% year-on-year [5] Quarterly Performance - In Q4 2024, Gree Electric achieved a revenue of 42.622 billion yuan, a decline of 13.38% year-on-year and 9.56% quarter-on-quarter [5] - The net profit for Q4 was 10.224 billion yuan, an increase of 14.55% year-on-year and 30.66% quarter-on-quarter [5] - The non-recurring net profit for Q4 was 8.937 billion yuan, up 7.02% year-on-year and 22.44% quarter-on-quarter [5] Financial Metrics - The gross profit margin for 2024 was 29.43%, unchanged from the previous year [5] - The net profit margin increased to 17.11%, up 3.52 percentage points year-on-year [5] Expense Analysis - Total operating expenses for 2024 were 19.414 billion yuan, a decrease of 7.493 billion yuan year-on-year [5] - The expense ratio was 10.26%, down 2.93 percentage points year-on-year [5] - Sales expenses decreased by 43.06%, while management expenses fell by 7.41% [5] - R&D expenses increased by 2.10%, and financial expenses rose by 6.41% [5] Cash Flow - The net cash flow from operating activities was 29.369 billion yuan, a decline of 47.93% year-on-year [5] Company Background - Gree Electric was established on December 13, 1989, and went public on November 18, 1996 [5] - The company specializes in the production and sale of air conditioners and related components [5]