Gree Electric Forecasts Net Profit to Fall 50% for 1H2020
Gree forecasts net profit to be CNY 6.3 billion to CNY 7.2 billion, a decrease of 48% to 54% YoY for 1H2020.
Affected by the epidemic, sales and installation activities of the air-conditioning business were limited, and consumer demand weakened. Dong Mingzhu promoted a new retail model nationwide to embrace the latest trend in 2020.
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