Type public Area served Worldwide Owner Gree Group (18.22%) | Traded as SZSE: 000651 Headquarters Zhuhai, China Founded 1991 | |
 | ||
Industry Electronics, Household appliances Key people Dong Mingzhu (Chairwoman & President) Products Major appliances, Small appliances Stock price 000651 (SHE) CN¥ 28.40 +0.31 (+1.10%)9 Mar, 3:59 PM GMT+8 - Disclaimer Subsidiaries Gree Electric Appliances Do Brasil Ltda | ||
Gree electric s dong mingzhu on innovation
Gree Electric Appliances Inc. of Zhuhai is a Chinese major appliance manufacturer headquartered in Zhuhai, Guangdong province. It is the world's largest residential air-conditioner manufacturer. 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.
Contents
President of gree electric appliances innovation crucial for chinese brands
History
Gree was established in Zhuhai, Guangdong in 1989 with its former name of Zhuhai City Haili Cooling Engineering Company Limited (Chinese: 珠海市海利冷气工程股份有限公司). It was restructured and renamed to Gree Electric Appliances Inc, of Zhuhai in 1994. The company started as a nameless factory with 200 employees and annual production of less than 20,000 units.
It was listed on the Shenzhen Stock Exchange in 1996. The company grew 46% in 2008, notwithstanding the global recession, booking $23 billion in contract sales. The company is a multinational enterprise with 70,000 employees and annual production of 65.5 million units. In April 2011, Gree announced first-quarter net income rose 46 percent from a year earlier to 934.7 million Yuan.
Products
Gree makes air-conditioners of all types, and small household appliances.
Management
Gree's Chairwoman is Dong Mingzhu--or "Sister Dong" as she is known in China. She was appointed CEO in 2009. She joined the company in 1990. Dong was the chairwoman of the largest shareholder, Gree Group until November 2016. Gree Group was a subsidiary of Zhuhai Municipal People's Government (the local government of Zhuhai).
Shareholders
As at 31 December 2015, The largest shareholder of Gree Electric was Gree Group, it was followed by Hebei Jinghai Investment Guarantee (for 8.91%), China Securities Finance (for 2.99%), Central Huijin Investment (for 1.40%). UBS (for 1.21%), Foresea Life Insurance (for 1.14%), Yale University (for 0.95%), Hexie Health Insurance (for 0.80%), chairwoman Dong Mingzhu (for 0.73%) and a private equity fund (for 0.71%).
In 2001 Gree Group owned 50.289% stake of Gree Electric. Gree Group was also the largest shareholder of Gree Real Estate (SSE: 600185) until 2015.