GREE(SZ:000651)2022-12-07 08:32Group 1: Inventory and Sales Management - The current inventory situation is under pressure, but it is a necessary aspect of the air conditioning industry [3] - The company plans to reduce inventory through price measures and decreased shipment volumes, while providing subsidies to distributors for old inventory [3] - There are no layoffs, but the company is reducing workers' hours [3] Group 2: Financial Performance and Borrowing - The increase in short-term borrowings in Q3 is primarily due to low-cost dollar trade financing [4] - As of the end of Q3, accounts receivable amounted to 31.7 billion, with a decline rate higher than revenue decline due to factors like discounting and endorsements [4] - Prepayments for Q3 were 15.3 billion, and the company maintains good cash flow despite sales policy adjustments [4] Group 3: Business Development and Future Directions - The contribution of robotics to revenue is not expected to be significant in the short term, but the market has good prospects [5] - The company is cautious about mergers and acquisitions, focusing on leveraging existing advantages and promoting marketable products [5] - The company is committed to maintaining high dividend levels, but cannot guarantee reaching last year's levels without board approval [5] Group 4: Market Trends and Product Growth - The growth of household central air conditioning is strong, with multi-split units showing rapid growth and higher profit margins [6] - The company is awaiting further government decisions regarding state-owned enterprise reforms [5]