Gree Electric disclosed its annual report on the evening of April 25th. The data showed that Gree Electric Appliances realized revenue of 148.29 billion yuan in 2017, an increase of 36.92% year-on-year; net profit of 22.4 billion yuan, an increase of 44.87% year-on-year; deductions from shareholders of listed companies were non-recurring. The net profit of profit or loss was 21.17 billion yuan, an increase of 35.33% year-on-year; the net cash flow from operating activities was 16.359 billion yuan, a year-on-year increase of 10%.
According to industry online data, in 2017, the output of household air conditioners in China was 143.5 million units, a year-on-year increase of 28.7%; the sales volume was 141.7 million units, an increase of 31% year-on-year, of which domestic sales were 88.75 million units, an increase of 46.8% year-on-year, and exports were 52.25 million units, a year-on-year increase. 11%.
Gree Electric Appliance Co., Ltd., a leader in household air conditioners, continues to make efforts in the fields of home air conditioners and commercial air conditioners. In 2017, Gree's air-conditioning business revenue reached RMB 123.4 billion, accounting for 83.22% of total revenue, an increase of 40.1% year-on-year.
The diversified businesses of Gree Electric Appliances, including life appliances and smart equipment, also achieved new breakthroughs last year. Last year, the income from its electrical business was 2.3 billion yuan, accounting for 1.55% of total revenue, an increase of 33.95% year-on-year; its smart equipment business last year Revenue was 2.126 billion yuan, accounting for 1.43% of total revenue, a year-on-year growth of 1220.27%.
From a regional point of view, the domestic market is still the main business area of Gree Electric Appliances. Last year, its domestic sales revenue was 113.696 billion yuan, accounting for 76.67% of total revenue, an increase of 47.78% year-on-year, which means that Gree's domestic revenue grew by nearly 50% last year. Last year, its export revenue was 18.494 billion yuan, accounting for 12.47% of total revenue, an increase of 13.8% year-on-year.
Surprisingly, despite Gree's revenue in 2017, net profit both set a new historical record, but Gree Electric, which has always been generous in dividends, did not pay dividends this year and does not convert shares. It is necessary to provide 'ammunition' for diversified investment. You know, but the last time you didn't have a dividend plan was in 2006.
The contents of the announcement show that Gree Electric has applied for more than 35,000 technical patents in total, including more than 15,000 patents for inventions. In 2017, a total of 4,182 invention patent applications, 1,273 authorized invention patents were granted, and the number of patents granted for invention ranked seventh in the country.
Gree Electric Co., Ltd. stated that, starting from the actual business situation, in order to meet capital expenditure requirements, maintain financial stability and autonomy, enhance resilience to risk, achieve sustainable, stable and healthy development of the company, and better safeguard the long-term interests of all shareholders. In 2017, there will be no profit distribution, no share issuance and capital reserve will be transferred to share capital, and the balance will be transferred to the next year's distribution.
For the 2018 plan, Gree Electric stated that the continuation effect of the real estate market in 2018 will continue to increase the terminal demand for the air-conditioning industry. At the same time, with the upgrading of consumption, people are constantly pursuing more and more comfortable living spaces, air-conditioned multi-locations, Applications in many fields provide ample space for the air-conditioning market. In addition, Gree Electric Appliances will continue to diversify its strategy and gradually turn smart equipment into new profit growth points for the company.