Gree Listed in Forbes Global 2000 Again!
Diversification Advanced Steadily

On June 8, Forbes released the 2023 "Global 2000" list. Gree ranked 331, up 25 places from last year's ranking.

The Forbes Global 2000 list is highly authoritative. It ranks the largest public companies in the past year according to four metrics: sales, net profit, assets and market value. The 2022 annual report shows that Gree achieved an operating income of 190.151 billion yuan; and 24.507 billion yuan in net profit attributable to shareholders of the company, up 6.26% year-on-year.

In 2022, China's home appliance market was greatly affected by the global economic downturn, the adjustment of the real estate industry and the disruption caused by the pandemic. Despite the complex and changeable market environment, Gree still showed a strong development force in 2022, enhancing brand resilience with innovation, and achieving steady progress in diversified businesses with outstanding results in the fields of home appliances, industrial products, and green energy.

"Product diversification and brand rejuvenation" is the most eye-catching change of Gree in the past year. With a new brand positioning of "Gree, making better electric appliances", the company fostered technological innovation around health, comfort, energy saving and other consumer needs while consolidating its business in air conditioning, so as to create a full range of electric appliances and realize a complete business coverage from air conditioners only to a variety of household consumer goods.

At the Appliance & Electronics World Expo (AWE) 2023, Gree exhibited kitchen appliances of the "New Light Kitchen" series, air conditioners of Star series, ValueTime series, AboutTime series, Freair, and "zero-carbon healthy home" smart home applications, which demonstrated Gree's commitment to the intelligent and youthful development of home appliances.

In 2022, Gree home appliances achieved an operating income of 4.568 billion yuan, and the market share of electric fans, electric heaters, water heaters and other products continued to expand. According to the data from the market research firm All View Cloud, in 2022, the online retail sales market share of Gree fan products ranked first in the industry, and the online retail sales market share of electric heaters and air source water heaters ranked in the top two in the industry.

With the development of market economy, Gree is seeking breakthroughs in diversification and has successively entered the fields of intelligent equipment, precision molds and other fields since 2013. After ten years of development, the company is now able to independently develop intelligent equipment in more than 100 specifications and more than 10 fields, covering servo robots, industrial robots, intelligent warehousing equipment, intelligent testing equipment, machine tool equipment specially designed for heat exchangers, automated production line, CNC machine tools and so on, basically realizing the industrialization from industrial robots to core components and CNC machine tools, providing customized solutions for industrial robot integration applications and large-scale automated production lines.

In 2022, the operating income of Gree industrial products was 7.599 billion yuan, surging 137.88% year-on-year.

Under the national dual carbon goals, green energy conservation has become an important development strategy for companies. Gree insists on promoting energy conservation and emission reduction and developing green energy business.

Guided by the dual carbon goals, Gree has accelerated the research and development of high-efficiency and energy-saving technologies to promote industrial transformation, and continuously sought breakthroughs in green industry sectors such as photovoltaics, energy storage, and new energy vehicles, and achieved outstanding results. In 2022, Gree's income in green energy business was 4.701 billion yuan, a year-on-year increase of 61.69%. At present, Gree "zero carbon source" photovoltaic (storage) air conditioning system has served more than 10,000 projects in 35 countries and regions around the world.

Adhering to diversification is the development path chosen by Gree after practice. "Gree, making better electric appliances" is the beautiful vision of the company to meet the needs of consumers. In the future, Gree will adhere to diversified innovation, stimulate brand momentum, and continue to develop into high-end, intelligent and green manufacturing industries, and promote a new pattern of high-quality development.