Gree Electric Appliances Inc of Zhuhai Class A 000651

Morningstar Rating
CN¥38.28 +0.18 (0.47%)
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Company Report

Price vs Fair Value

000651 is trading at a LOCK|#?q premium.
Price
CN¥38.28
Fair Value
k&y
Uncertainty
LOCK|YJMd&
1-Star Price
LOCK|.Dc
5-Star Price
LOCK|.$
Economic Moat
LOCK|S@t>>
Capital Allocation
LOCK|LdtXLYp

Bulls Say, Bears Say

Bulls

Upgrade and replacement demand will continue to support air conditioner sales value in China and further benefit Gree’s earnings.

Bears

China’s worsening residential property demand further weighs on the domestic demand for home appliances and affects Gree’s sales.

Trading Information

Previous Close Price
CN¥38.10
Day Range
CN¥37.97–38.30
52-Week Range
CN¥36.27–42.48
Bid/Ask
CN¥38.28 / CN¥38.29
Shares Outstanding
5.60B
Market Cap
CN¥214.42B
Volume/Avg
19M / 44M

Key Statistics

Price/Earnings (Normalized)
7.80
Price/Sales
1.31
Dividend Yield (Trailing)
7.84%
Dividend Yield (Forward)
7.84%
Dividend Payment Schedule
Jan, Aug
Total Yield
7.84%

Company Profile

Gree Electric Appliances is one of the largest heating, ventilating, and air conditioning product manufacturers in China, with key products such as residential and commercial air conditioners. Gree generates over 80% of sales domestically and is backed by China’s Zhuhai local government. Air conditioners remain the biggest contributor to Gree’s earnings, with over 70% representation over the years. The company has also made forays into industrial component parts, photovoltaic equipment, new energy vehicles, and battery production. As of March 2026, Chair Dong Mingzhu and privately owned investment entity Zhuhai Mingjun collectively held 18% of its total equity interest, while state-owned Zhuhai Gree Group owned about 3.5%.
Sector
Consumer Cyclical
Industry
Furnishings, Fixtures & Appliances
Stock Style Box
Large Value
Total Number of Employees
71,966

Competitors

Valuation

Metric
000651
000333
6367
Price/Earnings (Normalized)
7.8015.2119.38
Price/Book Value
1.442.861.95
Price/Sales
1.311.301.23
Price/Cash Flow
5.6412.7811.57
Price/Earnings
000651
000333
6367

Financial Strength

Metric
000651
000333
6367
Quick Ratio
0.800.471.15
Current Ratio
1.081.151.93
Interest Coverage
19.6024.4010.87
Quick Ratio
000651
000333
6367

Profitability

Metric
000651
000333
6367
Return on Assets (Normalized)
6.66%5.50%—
Return on Equity (Normalized)
18.47%15.93%—
Return on Invested Capital (Normalized)
10.16%9.59%—
Return on Assets
000651
000333
6367

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