GREE(SZ:000651)2025-06-09 14:57Business Structure and Future Planning - Gree Electric is a diversified, technology-driven global industrial group with brands including Gree, TOSOT, and Jinghong, covering both consumer goods and industrial equipment sectors [1][2] - The company focuses on energy-saving, comfort, health, and intelligence in its air conditioning products, with continuous upgrades to meet high-quality living demands [1] - Gree aims for sustainable development through independent brand growth, innovation, and deepening channel construction [2] Technological Advantages - Gree has established a robust R&D system with nearly 16,000 researchers and a total R&D investment of 7.14 billion yuan in 2024, accounting for 3.77% of revenue [3][4] - The company holds approximately 130,000 patents, with 55% being invention patents, and has developed 48 internationally leading technologies [3] - Gree's unique technologies include the "no wind blowing" feature in air conditioning and energy-efficient solutions that reduce electricity consumption by over 13.6% [4][5] Dividend Policy - Since its listing, Gree has raised 5.269 billion yuan in equity financing and distributed cash dividends totaling 130.883 billion yuan, with an average dividend rate of 63.49% over the past five years [6][7] - The company aims to maintain a stable and sustainable high dividend policy while ensuring normal operations and long-term development [7] Health Home Initiative - The "Dong Mingzhu Healthy Home" initiative aims to enhance consumer awareness of Gree's health-oriented home appliances through experiential marketing [8][9] - By March 2025, Gree plans to upgrade 3,000 stores nationwide, with over 600 already upgraded, achieving significant sales performance [9][11] Ice Washing and Home Appliance Business - Gree is accelerating product development in ice washing and home appliances, leveraging its core technology in compressors to enhance preservation capabilities [12] - The company plans to launch innovative products that meet the ecological needs of the "Dong Mingzhu Healthy Home" initiative [12] Global Strategy and Market Expansion - Gree's products are sold in over 190 countries, with 2024 foreign sales revenue reaching 28.202 billion yuan, a 13.25% increase [22][23] - The company is expanding its product range from air conditioning to include refrigerators and washing machines, transitioning to a comprehensive industrial group [23][24] Challenges and Responses - Gree faces challenges from raw material price fluctuations, particularly in copper, aluminum, and steel, which impact manufacturing costs [32] - The company employs strategies such as hedging, strategic reserves, and technological innovation to mitigate these pressures [32] Intellectual Property Protection - Gree has taken legal measures to protect its intellectual property and reputation, resulting in multiple criminal and civil cases against infringers [34] - The company has successfully prosecuted 6 individuals for intellectual property crimes and has pursued civil actions for damages totaling over 21.31 million yuan [34]