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At less than two o'clock in the morning on December 21, Gree Electric suddenly released the latest performance forecast. According to the announcement, the company expects a net profit of 27 billion yuan to 29.3 billion yuan in 2023, a year-on-year increase of 10.2%-19.6%; The total operating income was 205 billion yuan to 210 billion yuan, compared with 190.151 billion yuan in the same period last year. It is worth mentioning that this performance forecast also exceeded market expectations, and the market generally expects that the total operating income of Gree Electric Appliances will be 204 billion yuan, and the net profit attributable to shareholders of listed companies will be 27.085 billion yuan.
On December 20, the share price of Gree Electric suffered a rare plunge, and its market value evaporated by more than 10 billion yuan in a single day.
On the evening of December 19, Gree Electric announced that it planned to acquire 24.54% of the shares of Gree Titanium New Energy Co., Ltd. (hereinafter referred to as Gree Titanium) for 1.015 billion yuan. This means that Gree Electric plans to receive Gree titanium in its entirety. At the opening of trading on December 20, the stock price of Gree Electric immediately plummeted. By the close of trading on the 20th, the share price of Gree Electric Appliances fell by 7.09% in a single day, and the cumulative market value of more than 13 billion yuan evaporated. The price of Gree Electric's proposed transfer of Gree Titanium's shares corresponds to a value of 4.138 billion yuan for 100% of Gree Titanium's equity.
Liu Buchen, an analyst in the home appliance industry, said that whether Gree titanium is a good asset or not, in fact, investors have given the answer. Mo Ke, founder and president of True Lithium Research, said in an interview that the advantages and disadvantages of lithium titanate batteries are very distinct, and lithium titanate is valuable in some specific and niche markets. But don't expect to make lithium titanate much bigger, because it's really a niche market.
Judging from the capital market, Gree Electric investors did not buy the company's acquisition, and many investors chose to sell their stocks. Therefore, Gree chose to release the latest performance announcement overnight after the stock price plummeted, which means that Gree Electric still cares about market value management and caring for the secondary market.
——The development process of Gree Electric Appliances and Household Appliances
From a small factory with an annual output value of less than 20 million yuan to a diversified and international industrial group, Gree Electric has completed the growth and transformation of an international home appliance enterprise in more than 20 years. In the process of shaping the brand image, Gree adheres to the brand idea of keeping pace with the times, and in view of the market demand and social reality at different stages, Gree continues to "inject" new ideas into the brand, so that the brand always maintains fresh vitality.
——Layout of Gree Electric Appliances and Household Appliances
From the perspective of the layout of Gree electrical appliances, it mainly includes air conditioners, refrigerators, washing machines, water heaters, household appliances and other categories, covering the main varieties of white goods. The layout of Gree Electric's white goods products is relatively complete, which can meet the purchase needs of most consumers. Among them, air conditioning, as the leading product of Gree Electric Appliances, has a rich subdivision and is in a dominant position in the mainland air conditioning market.
——R&D status of Gree Electric Appliances
By the end of 2021, Gree Electric has won a total of 99 important awards at the national, provincial and ministerial levels, and industry levels; A total of 96,626 domestic and foreign patents have been applied, including 49,549 invention patents, and a total of 13,507 domestic and foreign invention patents have been authorized. It has won a total of 65 Chinese patent awards, including 2 invention gold medals and 3 appearance gold awards, ranking first in the air-conditioning industry in terms of the total number of awards over the years; He has won 11 gold medals at the Geneva Exhibition of Inventions and 6 gold medals at the Nuremberg Exhibition of Inventions. At the same time, Gree Electric Appliances is one of the first batch of national enterprises and institutions intellectual property demonstration units, "national patent operation pilot enterprises", and won the China Trademark Gold Award.
From 2017 to 2021, the amount of R&D investment of Gree Electric fluctuated. In 2021, the R&D investment of Gree Electric Appliances will be 6.529 billion yuan, an increase of 5.07% compared with 2020; R&D investment accounted for 3.48%, a slight decrease compared with 2020.
——Gree Electric Appliances Business Development Plan
The vision of Gree Electric is to "create a world-class enterprise and achieve a century-old brand of Gree". Based on the home appliance industry, Gree Electric Appliances has steadily expanded emerging industries such as intelligent equipment, precision molds, new energy, semiconductors, and core components, and built a more competitive diversified and technology-based global industrial group. In 2022, the development plan related to Gree Electric's white goods business will accelerate industrial transformation and upgrading, and promote the integration of digital technology and industry; Innovate quality control methods and comprehensively improve the quality level.
Liu Xiumin, president of the China Household Appliance Service and Maintenance Association, believes that the growth of the mainland household appliance market is leaping from quantity to quality. In 2024, the growth trend of the mainland home appliance market will still be better than that of other industries, the stock market has become the advantage of the incremental market, and trade-in has become one of the core driving forces to maintain the continuous recovery of the home appliance market.
Prospective Economist APP Information Group
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