Gree Electric

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Gree Electric Appliances Inc of Zhuhai
珠海格力电器股份有限公司
State-owned enterprise
Industry Household appliances
Founded 1991
Headquarters Zhuhai, Guangdong, People's Republic of China
Area served
Worldwide
Key people
Zhu Jianghong (Chairman)
Dong Mingzhu (CEO)
Products Major appliances, Small appliances
Revenue US$19.8 billion (2013)
Number of employees
40,000
Parent Zhuhai Gree Corporation
Slogan Making Better Air Conditioners
Website www.gree.com.cn
Gree store in Nanchang

Gree Electric Appliances Inc. (Chinese: 珠海格力电器股份有限公司) (SZSE: 000651) is a Chinese major appliance manufacturer headquartered in Zhuhai, Guangdong province. It is the world's largest residential air-conditioner manufacturer.[1] The Company offers two types of air conditioner: household air conditioners and commercial air conditioners. The Company also provides electric fans, water dispensers, heaters, rice cookers, air purifiers, water kettles, humidifiers and induction cookers, among others. The Company distributes its products within China’s domestic market and to overseas markets under the brand name of Gree.

History[edit]

Gree was established in Zhuhai, Guangdong in 1989 with its former name of Zhuhai City Haili Cooling Engineering Company Limited. It was restructured and renamed to Gree Electric Appliances Inc, of Zhuhai in 1992. The company started as a nameless factory with 200 employees and annual production of less than 20,000 units.[1]

It was listed on the Shenzhen Stock Exchange in 1996.[2] The company grew 46% in 2008, notwithstanding the global recession, booking $23 billion in contract sales.[1] The company is a multinational enterprise with 40,000 employees and annual production of 20 million units.[1] 64% of the company is owned by the Chinese government, while 36% by other parties.[1] In April 2011, Gree announced first-quarter net income rose 46 percent from a year earlier to 934.7 million Yuan.[3]

Products[edit]

Gree makes air-conditioners of all types,[4] and small household appliances.

References[edit]

  1. ^ a b c d e Businessweek.com. "Businessweek.com." Guangdong Visions: Forging China's Future. Retrieved on 2009-08-11.
  2. ^ Gree Electric Appliances Inc, of ZhuHai
  3. ^ "China Stocks: Air China, Chalco, Chengde Lolo, Gree Electric - Bloomberg". bloomberg.com. 2011. Retrieved 19 May 2011. 
  4. ^ Brief Introduction Gree Official Site