Gree Electric Appliances Releases 2023 Annual Report.
In the early hours of the 30th, Gree Electric Appliances（000651:SZ） disclosed its annual report for 2023. The report reveals that in 2023, Gree Electric Appliances achieved an operating income of CNY 203.979 billion, a year-on-year increase of 7.93%. The net profit attributable to the shareholders of the listed company reached CNY 29.017 billion, marking an 18.41% increase from the previous year.
In 2023, Gree Electric Appliances recorded sales expenses of CNY 17.13 billion, a 51.79% increase year-on-year. Gree Electric Appliances explained that this was mainly influenced by the growth in product installation and maintenance expenses. During the same period, the net cash flow generated from operating activities changed by 96.73% year-on-year, mainly due to an increase in cash received from selling goods and providing services; the net cash flow generated from financing activities changed by -264.85% year-on-year, primarily due to a decrease in cash received from borrowings and an increase in cash paid for debt repayment.
Simultaneously, Gree Electric Appliances disclosed its "First Quarter Report for 2024," stating that the first-quarter operating income for 2024 reached CNY 36.364 billion, a 2.56% year-on-year increase, with a net profit attributable to the shareholders of the listed company at CNY 4.675 billion, marking a 13.77% year-on-year increase. During this period, the net cash flow generated from operating activities was CNY -2.941 billion, a 119.52% decrease year-on-year. Gree Electric Appliances explained that this was mainly due to a decrease in cash received from selling goods and providing services.
Regarding shareholders, as of the end of the first quarter of 2024, the total number of ordinary shareholders of Gree Electric Appliances was 507,379, a decrease of 106,500 from the end of 2023, representing a decrease of 17.34%. Among the top ten shareholders, Hong Kong Securities Clearing Company Limited's shareholding ratio increased to 11.87%; Dong Mingzhu's shareholding remained at 0.97%; and the Basic Pension Insurance Fund 15012 combination exited the list of the top ten shareholders.
Furthermore, during the reporting period, Gree Electric Appliances' products were sold to more than 190 countries and regions, with overseas business achieving operating income of CNY 24.904 billion, and the proportion of independent brands accounting for nearly 70%, an 8% increase year-on-year.
Gree Electric Appliances also disclosed the "Announcement of the Profit Distribution Plan for 2023," proposing a cash dividend of CNY 23.80 (including tax) for every 10 shares, without capital reserve fund conversion into share capital or bonus shares. Based on this calculation, Gree Electric Appliances plans to distribute a total of CNY 13.142 billion in cash dividends.
As of the time of this report, Gree Electric Appliances' per-share value is CNY 42.12, with a total market capitalization of CNY 237.2 billion.