Gree Electric Appliances,Inc.Of Zhuhai (000651.SZ) released its 2026 third quarter report, showing that in the first three quarters the company achieved operating revenue of 126.075 billion yuan, down 8.10% year on year; net profit attributable to shareholders of the listed company was 17.274 billion yuan, down 19.51% year on year; net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was 16.403 billion yuan, down 20.32% year on year; basic earnings per share were 3.09 yuan.
In the first three quarters of 2026, the change in the company's performance was mainly affected by a year-on-year decline in the consumer appliances business. Data from All View Cloud shows that in the first three quarters of 2026, total sales volume in China's household air conditioning industry was 150 million units, down 8.4% year on year. By quarter, the decline widened quarter by quarter: down 2.8% year on year in the first quarter, down 9.3% in the second quarter, and down 15.1% in the third quarter. The home appliance industry as a whole is under pressure, with downward pressure continuing to intensify and industry competition further heating up.
The company adopted a differentiated competitive strategy, focusing on the mid-to-high-end market with advantages in technology and quality, and its revenue scale declined somewhat. At the same time, facing the impact of high raw material prices, the company adhered to the business philosophy of "competing on quality, not price," and product sales prices remained relatively stable, which had a certain impact on the company's profit.
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