Core Insights - Gree Electric's fifth overseas dealer conference highlighted its ten-year journey in globalization, showcasing significant growth in overseas revenue and brand recognition [1][2][4] - The company has shifted from being perceived as a low-cost manufacturer to a leader in quality and innovation, with a focus on core technology and long-term strategies [2][5][32] Group 1: Globalization Journey - Gree's overseas revenue reached 28.2 billion yuan in 2024, a year-on-year increase of 13.25%, with self-owned brands accounting for 70% of this revenue [1][5] - The company has expanded its product offerings from air conditioners to a full range of smart home appliances and equipment, marking a transition from "going out" to "integrating in" [1][26] - Gree's market share in Southeast Asia for self-owned brands increased from 30% to 80% over the past decade [4][5] Group 2: Technological Innovation - Gree has invested over 100 billion yuan in R&D, establishing more than 1,400 laboratories and holding 50 internationally leading technologies with 140,000 patent applications [5][6] - The company has developed specialized air conditioning solutions for extreme environments, such as high-temperature units for the Middle East and low-temperature heat pumps for Northern Europe [6][10] - Gree's new SilenzX series air conditioner features a noise level as low as 15 decibels, showcasing its commitment to user comfort [9][10] Group 3: Market Strategies - Gree's strategy in the U.S. includes a "step-up upgrade" approach, initially entering the market with cost-effective products before focusing on core technology [14][15] - In Canada, Gree has achieved the top market share by differentiating its brands and collaborating with local energy companies to promote energy-efficient solutions [16][17] - The company has successfully penetrated the Iraqi market by customizing products to meet local needs and establishing a robust local support system [18][19] Group 4: Brand Positioning - Gree's partnership with the Real Betis football club in Spain has significantly enhanced its brand visibility and emotional connection with consumers [21][22] - The company emphasizes local engagement and cultural integration in its marketing strategies, such as community projects in Iraq and emotional storytelling in Spain [32][33] - Gree's narrative focuses on transforming the perception of "Made in China" from low-cost to high-value through technology and cultural resonance [34][35] Group 5: Future Outlook - Gree aims to continue its expansion into new sectors such as renewable energy, smart homes, and industrial technology, aspiring to set a benchmark for Chinese manufacturing globally [35]