Core Insights - Gree Electric's total revenue for the first three quarters of 2025 was 137.65 billion yuan, a year-on-year decrease of 6.62%, while net profit attributable to shareholders was 21.46 billion yuan, down 2.27% [1] - The company plans to distribute a cash dividend of 10 yuan per 10 shares, totaling 5.585 billion yuan, which accounts for 26.02% of the net profit for the period [1][5] - Gree's self-owned brand market share in split air conditioners reached 70% in 2024, up from less than 30% in 2015, marking a significant rise in the brand's global standing [1][4] Financial Performance - Gree's net profit margin for the first three quarters of 2025 was 15.59%, an increase of 0.69 percentage points year-on-year [1] - In Q3 2025, the net profit reached 7.05 billion yuan, with a net profit margin of 17.61%, setting a historical high for the same period [1] Innovation and Technology - Gree has made multiple technological breakthroughs and product innovations in Q3 2025, emphasizing a "technology-driven" approach to meet consumer demands [2] - The launch of solar-powered air conditioners represents a new dual power supply model, showcasing Gree's commitment to green energy and advanced comfort technologies [3] Market Expansion - Gree has accelerated its national store layout, with a total of 1,012 stores across various cities, enhancing its market presence [4] - The company has established a strong foothold in international markets, with leading market shares in countries like Canada, Brazil, and Saudi Arabia [4] Shareholder Returns - Gree has consistently maintained high dividend payout ratios, with recent distributions of 44.60%, 41.58%, and 26.02% in 2025, significantly higher than industry peers [5] - Cumulatively, Gree has returned over 177.6 billion yuan to shareholders since its listing, reinforcing its commitment to shareholder value [5]

Core Insights - Gree Electric's total revenue for the first three quarters of 2025 was 137.65 billion yuan, a year-on-year decrease of 6.62%, while net profit attributable to shareholders was 21.46 billion yuan, down 2.27% year-on-year, with a net profit margin of 15.59%, an increase of 0.69 percentage points [1][2] - The company plans to distribute a cash dividend of 10 yuan per 10 shares, totaling 5.585 billion yuan, which accounts for 26.02% of the net profit attributable to shareholders [1][13] Financial Performance - In Q3 2025, Gree achieved a net profit of 7.05 billion yuan, with a net profit margin of 17.61%, marking a historical high for the same period, up 1.01 percentage points year-on-year and 2.41 percentage points quarter-on-quarter [2] - The company has maintained a high dividend payout ratio, with cumulative dividends exceeding 177.6 billion yuan since its listing, reflecting a commitment to shareholder returns [13] Innovation and Product Development - Gree emphasizes independent innovation as a core value, with significant technological breakthroughs and product innovations in Q3 2025, including the launch of photovoltaic air conditioners and AI-enabled products [2][6] - New products such as the heat pump washing and drying machine and dual-system refrigerators showcase Gree's focus on energy efficiency, intelligence, and comfort [3] Market Position and Global Strategy - Gree's split air conditioner retail volume ranked first globally in 2024, with its self-owned brand market share rising from less than 30% in 2015 to 70% [1][9] - The company is expanding its market presence with over 1,012 stores nationwide, enhancing consumer awareness of its full range of smart home appliances [7][10] Long-term Growth Potential - Gree's commitment to core technology and user needs positions it well for long-term growth, with ongoing global expansion and a focus on high-quality development [11]

证券日报网讯格力电器（000651）9月26日在互动平台回答投资者提问时表示，公司重视全品类协同发 展，通过技术创新和"董明珠健康家"的场景化体验式销售渠道，逐步提升非空产品竞争力，近期已推出 风神i7油烟机、宠物净化器、厨下净热一体净水机等多款厨电、小家电新品。目前公司空调板块通过格 力与晶弘双品牌协同发展，让更多消费者享受格力的高品质产品。公司将在稳健经营与合理盈利的基础 上，结合行业趋势与自身技术制造优势，科学决策产品与市场策略，不断提升整体竞争力。 ...

Core Insights - Gree Electric Appliances launched a new strategy focusing on health-oriented home appliances, showcasing 16 new products at the "Dong Mingzhu Health Home" experience center in Dongguan, Guangdong [1][6][11] - The experience center features a unique "home appliances + sports" immersive model, allowing consumers to interact with products in real-life scenarios [3][4][6] Product Innovations - Gree introduced advanced air conditioning solutions, including a "no wind blowing" central air conditioning system and an AI-powered energy-saving model, enhancing user comfort and energy efficiency [8][13] - Kitchen solutions include a "cooling range hood" and a combination of kitchen air conditioning and ultra-thin range hoods to address high temperatures and oil smoke [10] - New lifestyle products such as the Gree Snow Dragon 508 refrigerator and a pet purifier were also launched, expanding the company's health-focused product ecosystem [10][15] Market Expansion - The "Dong Mingzhu Health Home" initiative has seen rapid growth, with nearly 1,000 stores established across the country since its launch in March [11] - The stores have generated approximately 390 million yuan in retail sales from 293 locations that have been open for over 30 days [11] Strategic Vision - Gree aims to redefine consumer expectations of home appliances by integrating core technologies and creating a comprehensive lifestyle ecosystem [17] - The company emphasizes quality and technology over price, positioning itself as a leader in the home appliance industry [13][15]

开业当日，格力电器还举行了全屋健康家电新品战略发布会，16款健康家电亮相。包括"风不吹人"中央 空调、光伏空调、鲸湃洗碗机、宠物净化器等涵盖空调、厨卫、冰洗等品类的产品。多款产品搭载先进 技术，力图为消费者带来更好的使用体验，比如"风不吹人"中央空调、天井机，实现冷风不吹人、热风 暖全身，提升舒适性；光伏空调利用太阳能优先发电，降低用电成本；"制冷烟机"一体式解决方案 和"厨享厨房空调+风神超薄油烟机"组合式解决方案解决厨房高温、高油烟等难题；格力雪龙508双系统 冰箱以独立循环杜绝串味，实现超冻锁鲜；宠物净化器专注去除宠毛与异味，提供人宠共居健康环境。 中证报中证网讯（记者 万宇）9月17日，格力电器（000651）举办"格力全屋健康家电新品战略发布会 暨董明珠健康家大湾区体验中心开业仪式"，位于广东东莞的董明珠健康家大湾区体验中心开业，打 造"家电展示+运动健康"业态模式，展现格力电器从产品创新到生活方式引领的战略升级。活动上，格 力电器还集中发布了16款全屋健康家电新品。 作为格力电器"董明珠健康家"战略在大湾区的重要体验窗口，体验中心打造了"无风感"客厅、0油烟厨 房、洁净洗护区、新鲜储鲜区等多个实景 ...

Core Viewpoint - Gree Electric Appliances has launched nine innovative products in the whole-house smart appliance sector, showcasing its latest R&D achievements and marking a comprehensive upgrade of its "Good Appliances Made by Gree" product matrix [2][3]. Group 1: Product Launch and Innovation - Gree Electric Appliances announced the launch of nine new products covering air health, water health, laundry health, and dietary health, indicating a strong push into the whole-house smart appliance market [2]. - The new products include a heat pump washing and drying machine featuring Gree's self-developed three-drive variable frequency system, which integrates variable frequency motors, fans, and compressors for precise control [3]. - A highlight of the new offerings is the photovoltaic home air conditioner, which incorporates AI technology and Gree's self-developed AI energy-saving chip, enhancing its cooling performance [3]. Group 2: Market Trends and Strategic Positioning - The home appliance industry is undergoing a transformation driven by dual factors: the "dual carbon" strategy and consumer upgrades, moving from single smart products to comprehensive health solutions [4]. - Gree Electric Appliances aims to capture the high ground in scenario-based competition by constructing a "data-device-service" triangle model, positioning itself well in the health appliance market [4]. - According to the "2025 China Home Appliance Health Trend White Paper," 83% of consumers are willing to pay a premium for effective health technologies by 2025, indicating a growing market potential [4].