Gree Electric

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Chinese major appliance manufacturer headquartered in Zhuhai, Guangdong

title: "Gree Electric" type: doc version: 1 created: 2026-02-28 author: "Wikipedia contributors" status: active scope: public tags: ["gree-group", "companies-in-the-csi-100-index", "companies-in-the-ftse-china-a50-index", "companies-listed-on-the-shenzhen-stock-exchange", "chinese-companies-established-in-1989", "electronics-companies-established-in-1989", "home-appliance-brands", "companies-based-in-zhuhai", "home-appliance-manufacturers-of-china", "heating,-ventilation,-and-air-conditioning-companies", "chinese-brands", "privatization-in-china", "1996-initial-public-offerings", "multinational-companies-headquartered-in-china", "electronics-companies-of-china"] description: "Chinese major appliance manufacturer headquartered in Zhuhai, Guangdong" topic_path: "engineering" source: "https://en.wikipedia.org/wiki/Gree_Electric" license: "CC BY-SA 4.0" wikipedia_page_id: 0 wikipedia_revision_id: 0

::summary Chinese major appliance manufacturer headquartered in Zhuhai, Guangdong ::

::data[format=table title="Infobox company"]

FieldValue
nameGREE Electric Appliances Inc. of Zhuhai
logoGree electric appliances logo.svg
typePublic
traded_as
CSI A100
founded
location_cityZhuhai, Guangdong
location_countryChina
key_peopleDong Mingzhu (Chairwoman & President)
area_servedWorldwide
industryHome appliances
productsMajor appliances
Small appliances
revenue$27.9 billion (2022)
net_income$3.7 billion (2022)
assets$44.3 billion (2022)
homepage

| | footnotes | | ::

::callout[type=note] the electronics company ::

| name = GREE Electric Appliances Inc. of Zhuhai | logo = Gree electric appliances logo.svg | type = Public | traded_as = CSI A100 | founded = | founder = | location_city = Zhuhai, Guangdong | location_country = China | location = | key_people = Dong Mingzhu (Chairwoman & President) | area_served = Worldwide | industry = Home appliances | products = Major appliances Small appliances | services = | revenue = $27.9 billion (2022) | operating_income = | net_income = $3.7 billion (2022) | assets = $44.3 billion (2022) | num_employees = | divisions = | owner = | homepage =

| footnotes = | title = Gree Electric Appliances Inc. of Zhuhai | s = 珠海格力电器股份有限公司 | t = 珠海格力電器股份有限公司 | p = Zhūhǎi Gélì diànqì gǔfèn yǒuxiàn gōngsī ::figure[src="https://upload.wikimedia.org/wikipedia/commons/6/68/GREEStoreNanchang.jpg" caption="Store in Nanchang."] ::

GREE Electric Appliances Inc. of Zhuhai, branded as GREE, is a Chinese home appliances manufacturer headquartered in Zhuhai, Guangdong province. It is the world's largest air-conditioner manufacturer. The company offers two types of air conditioners: household air conditioners and commercial air conditioners. The company also produces electric fans, water dispensers, heaters, rice cookers, air purifiers, water kettles, humidifiers and induction cookers, among other products. It distributes its products in China and abroad under the brand name GREE. The company has two joint-ventures with Daikin, Zhuhai GREE Daikin Device Co., Ltd., and Zhuhai GREE Daikin Precision Mold Co., Ltd.

History

GREE was established in Zhuhai, Guangdong, in 1989 under its former name of Zhuhai City Haili Cooling Engineering Company Limited (). It was restructured and renamed GREE Electric Appliances Inc. of Zhuhai in 1994. The company started as a nameless factory with 200 employees and annual production of less than 20,000 units.

It was listed on the Shenzhen Stock Exchange in 1996. The company grew 47% in 2008, despite the 2008 financial crisis, booking $23 billion in contract sales. The company is a multinational enterprise with 70,000 employees and annual production of 65.5 million units. In April 2011, GREE announced that first-quarter net income rose 47 percent from a year earlier to 934.7 million Yuan.

Products

GREE makes air-conditioners of all types and small household appliances. Between 2015 and 2021, Gree Electric also introduced several mobile phone models.

Management

GREE Electric's Chairwoman is Dong Mingzhu, or "Sister Dong" as she is known in China. GREE Group was owned by Zhuhai Municipal People's Government (the local government of Zhuhai).

Shareholders

GREE Electric is a majority state-owned enterprise, primarily by the city of Zhuhai. As of 31 December 2015, the largest shareholder of GREE Electric was GREE Group; it was followed by Hebei Jinghai Investment Guarantee (for 8.91%), China Securities Finance (for 2.99%), Central Huijin Investment (for 1.40%). UBS (for 1.21%), Foresea Life Insurance (for 1.14%), Yale University (for 0.95%), Hexie Health Insurance (for 0.80%), chairwoman Dong Mingzhu (for 0.73%) and a private equity fund (for 0.71%).

In 2001 GREE Group owned a 50.289% stake in GREE Electric. GREE Group was also the largest shareholder of GREE Real Estate () until 2015.

In December 2019, GREE Group sold most of the stake they owned in GREE Electric, to a private equity fund.

Sponsorships

In 2022, GREE Electric become one of the AFF Mitsubishi Electric Cup 2022, chosen by Mitsubishi Electric, along with Maspion Holdings, Wuling Motors, Mercedes-Benz, Tiger Brokers and Yanmar. Real Betis Balompié, known as Real Betis is sponsored by GREE.

References

References

  1. "Gree Electric Appliances (000651.SZ) - Revenue".
  2. (29 April 2016). "2015 Annual Report". Shenzhen Stock Exchange.
  3. Businessweek.com. "[https://www.bloomberg.com/news/articles/2009-08-05/guangdong-visions-forging-chinas-future]." ''Guangdong Visions: Forging China's Future.'' Retrieved on 2016-08-08.
  4. "Daikin Industries and Gree Electric Appliances Agree to Establish Joint Venture {{!}} News Release {{!}} Daikin Industries, Ltd.".
  5. "Gree Electric Appliances Inc, of ZhuHai".
  6. (2011). "China Stocks: Air China, Chalco, Chengde Lolo, Gree Electric - Bloomberg". bloomberg.com.
  7. [http://www.gree.com.cn/greeabout/about_index01.jsp Brief Introduction] {{Webarchive. link. (2008-12-10 Gree Official Site)
  8. Michail. (2023-05-22). "Gree shuts down smartphone division".
  9. Shen, Xinmei. (2023-05-21). "Chinese electronics giant Gree disbands smartphone unit amid sluggish market".
  10. She was appointed CEO in 2009.{{citation needed. (November 2016 She joined the company in 1990.{{citation needed). (November 2016 Dong was also the Chairwoman of its largest shareholder at the time, [[Gree Group). GREE Group]], until November 2016.[http://finance.sina.com.cn/review/jcgc/2016-11-14/doc-ifxxsmic6194236.shtml 评论：董明珠股权没获得又丢掉了格力集团董事长] (in Chinese)
  11. Li, David Daokui. (2024). "China's World View: Demystifying China to Prevent Global Conflict". [[W. W. Norton & Company]].
  12. (15 March 2002). "2001 Annual Report". Shenzhen Stock Exchange.

::callout[type=info title="Wikipedia Source"] This article was imported from Wikipedia and is available under the Creative Commons Attribution-ShareAlike 4.0 License. Content has been adapted to SurfDoc format. Original contributors can be found on the article history page. ::

gree-groupcompanies-in-the-csi-100-indexcompanies-in-the-ftse-china-a50-indexcompanies-listed-on-the-shenzhen-stock-exchangechinese-companies-established-in-1989electronics-companies-established-in-1989home-appliance-brandscompanies-based-in-zhuhaihome-appliance-manufacturers-of-chinaheating,-ventilation,-and-air-conditioning-companieschinese-brandsprivatization-in-china1996-initial-public-offeringsmultinational-companies-headquartered-in-chinaelectronics-companies-of-china