GREE(SZ:000651) Qian Zhan Wang·2025-10-14 08:47Core Insights - Gree Electric's Chairman Dong Mingzhu emphasized the importance of innovation and core technology for the company's development, stating that Gree has nearly 140,000 proprietary patents, all developed in-house [2] - Gree has successfully developed over 100 types of CNC machine tools, which not only meet its manufacturing needs but also serve various external sectors, including providing services to Tesla [6] - The CNC machine tool industry in China has seen significant growth, with the market size increasing from 326 billion yuan in 2020 to 382.5 billion yuan in 2022, and is expected to exceed 600 billion yuan by 2029 [6] Company Research - Gree Electric's R&D investment reached 6.529 billion yuan in 2021, marking a year-on-year increase of 5.07% [3] - The company has received 99 significant awards at national, provincial, and industry levels, and has applied for a total of 96,626 domestic and international patents, including 49,549 invention patents [2] - Gree Electric is recognized as the first home appliance company in China to have over 10,000 invention patents authorized [2] Industry Analysis - The CNC machine tool sector is considered the "mother machine" of the industry, with its development directly impacting the overall strength of the manufacturing sector in China [6] - The growth of the CNC machine tool industry is supported by national industrial policies and increasing market demand, leading to unprecedented development opportunities [6] - Gree's diversification into CNC machine tools represents a strategic shift, leveraging 30 years of manufacturing capabilities, patent systems, and management experience to enter higher technology barrier industries [8]