
Core Viewpoint - Gree Electric Appliances and Hefei General Machinery Research Institute announced two international standards for refrigeration compressors, aiming to enhance the global competitiveness of Chinese companies in the air conditioning sector [1][2]. Group 1: International Standards Announcement - The two international standards include "Performance Evaluation of Centrifugal Refrigeration Compressors" and "Performance Evaluation of Positive Displacement Refrigeration Compressors," developed in collaboration with Tsinghua University [1][2]. - These standards reflect trends in energy efficiency, health, and environmental protection, allowing Chinese companies to establish international standards using their own technology [1][2]. Group 2: Market Context and Growth Potential - The global refrigeration compressor market was valued at 128.55 billion yuan in 2023 and is projected to grow to 177.22 billion yuan by 2029, indicating a significant growth opportunity in the sector [2]. - The International Energy Agency predicts that the number of air conditioners worldwide will triple by 2050, reaching 4.5 billion units, with tropical countries and non-traditional air conditioning regions becoming key markets [2][3]. Group 3: Technical Advancements and Industry Challenges - The newly released standards cover a wide range of applications, including air conditioning, heat pumps, and refrigerators, and emphasize reliability and modern design considerations [2][3]. - Despite China's leading position in compressor production, there remains a gap in high-end technology compared to advanced countries, highlighting the need for ongoing innovation [3]. Group 4: Company Performance and Strategic Focus - Gree Electric Appliances is the largest manufacturer of split air conditioners globally, facing intensified competition in both domestic and international markets [3]. - The company's revenue for 2024 is projected at 189.2 billion yuan, a decrease of 7.26% year-on-year, while Q1 2025 revenue is expected to be 41.507 billion yuan, an increase of 14.14% [3].