Gree Electric Appliances, Inc. Of Zhuhai (000651.SZ) has released its semi-annual report for 2026, revealing a decline in key financial metrics as the company navigates a challenging global market environment.
During the reporting period, the company generated operating revenue of 89.398 billion yuan, marking a year-on-year decrease of 8.15%. Net profit attributable to shareholders of the listed company reached 13.278 billion yuan, down 7.87% from the prior year. After excluding non-recurring gains and losses, net profit attributable to shareholders stood at 12.707 billion yuan, reflecting an 8.89% decline. Basic earnings per share came in at 2.38 yuan.
In the first half of 2026, the global economic recovery remained uneven, with weak end-market demand placing significant pressure on the domestic household air conditioning export sector. The company faced multiple external headwinds, including geopolitical disruptions and persistently high inventory levels across overseas sales channels.
The company's overseas operations were particularly affected by a substantial downturn in the Middle East region, which weighed heavily on overall international performance. Additionally, Gree Electric's strategic focus on brand value and quality premiums in overseas markets tempered shipment volumes. As a result of these internal and external factors, the company's overseas business generated 12.744 billion yuan in operating revenue during the period, a sharp 21.98% decline year-on-year.
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