GREE(SZ:000651) Di Yi Cai Jing·2025-06-09 12:54Core Viewpoint - Gree Electric Appliances is exploring the potential for spin-off listings of various business segments, including industrial products, high-end equipment, precision molds, electronic components, and renewable resources, based on market conditions and strategic needs [3] Group 1: Management and Strategy - The recent online performance briefing was the first led by Zhang Wei after his appointment as president, showcasing a younger management team [3] - Gree's sub-brand, Jinghong, is targeting both the engineering and consumer markets with a focus on high cost-performance products [3][4] - The company aims to achieve complementary pricing strategies between the Gree and Jinghong brands to cater to price-sensitive consumers [4] Group 2: Product Development and Innovation - Gree Electric has no immediate plans to replace copper with aluminum in air conditioning units due to significant performance and reliability concerns, despite aluminum's lower cost [3] - The company has been involved in the chip business since 2015, with an initial planned capacity of 240,000 pieces per year, funded by its own resources [4] - Gree's self-developed chips are now widely used in home air conditioners, with approximately 30% of applications being self-researched, and are also utilized in commercial air conditioning, smart equipment, and industrial robots [4] Group 3: International Expansion - Gree is expanding its multi-brand strategy overseas, with plans to establish regional sales companies and smart manufacturing bases [4] - The company has achieved over 20% market share in the Middle East and several Eastern European countries, as well as in Brazil, Indonesia, and Canada [4] - Gree's international diversification has extended beyond air conditioning to include refrigerators, washing machines, and other home appliances [4]