Gree Electric Appliances Inc of Zhuhai

Gree Electric Appliances maintains a capital structure characterized by significant leverage and tight liquidity metrics. The company reports total liabilities of 245.4 billion CNY against total equity of 145.9 billion CNY, resulting in a debt-to-equity ratio of 0.61. Long-term debt stands at 89.6 billion CNY, while cash and equivalents are limited to 4.0 billion CNY, creating a net cash position that is negative after subtracting total debt. The current ratio is 1.08, indicating minimal short-term liquidity buffer. Despite the leverage, the company generates substantial operating cash flow of 46.4 billion CNY, which supports its debt obligations and results in a free cash flow of 14.0 billion CNY after capital expenditures of 1.7 billion CNY.

Profitability metrics demonstrate strong returns on capital employed. The company achieves a return on equity (ROE) of 20% and a return on assets (ROA) of 7.46%. With a net income of 29.0 billion CNY on revenue of 171.1 billion CNY, the net margin is approximately 17%. The operating income of 34.7 billion CNY suggests efficient cost management relative to sales volume. These returns are supported by a gross profit of 51.5 billion CNY, reflecting the pricing power and scale advantages typical of leading household durable manufacturers.

Analysts project 23.4% upside to a mean price target of 46.55, reflecting strong market confidence in future performance.

The company generated 19.2 billion CNY in free cash flow in FY2025, indicating robust cash generation capabilities.

Net income CAGR of 5.9% over four years suggests consistent long-term earnings growth despite recent volatility.

Revenue declined 10.0% year-over-year to 171.1 billion CNY in FY2026, signaling weakening top-line momentum.

Long-term debt increased to 89.6 billion CNY in FY2026, reflecting a heavier leverage burden than previous years.

The company faces medium liquidity and credit risks, which could constrain financial flexibility during market downturns.

Revenue ¥43.08B, +3,5% YoY; Operating income +1,0% YoY.

• ▍Revenue ¥43.08B, +3,5% YoY
• ▍Operating income +1,0% YoY
• ▍Net income +3,0% YoY
• ▍Net margin 14.1%

Revenue ¥33.46B, −21,5% YoY; Operating income −15,7% YoY.

• ▍Revenue ¥33.46B, −21,5% YoY
• ▍Operating income −15,7% YoY
• ▍Net income −26,2% YoY
• ▍Net margin 22.5%

Revenue ¥40.03B, −15,1% YoY; Operating income −8,6% YoY.

• ▍Revenue ¥40.03B, −15,1% YoY
• ▍Operating income −8,6% YoY
• ▍Net income −9,9% YoY
• ▍Net margin 17.6%

Revenue ¥55.98B, −12,1% YoY; Operating income −11,9% YoY.

• ▍Revenue ¥55.98B, −12,1% YoY
• ▍Operating income −11,9% YoY
• ▍Net income −10,1% YoY
• ▍Net margin 15.2%

Revenue ¥41.64B; Operating income ¥6.91B.

• ▍Revenue ¥41.64B
• ▍Operating income ¥6.91B
• ▍Net margin 14.2%

Revenue ¥42.62B; Operating income ¥11.39B.

• ▍Revenue ¥42.62B
• ▍Operating income ¥11.39B
• ▍Net margin 24.0%

Revenue ¥47.13B; Operating income ¥9.28B.

• ▍Revenue ¥47.13B
• ▍Operating income ¥9.28B
• ▍Net margin 16.6%

Revenue ¥63.69B; Operating income ¥11.00B.

• ▍Revenue ¥63.69B
• ▍Operating income ¥11.00B
• ▍Net margin 14.9%

Revenue ¥171.12B, −10,0% YoY; Operating income −6,0% YoY.

• ▍Revenue ¥171.12B, −10,0% YoY
• ▍Operating income −6,0% YoY
• ▍Net income −9,9% YoY
• ▍Free cash flow −26,9% YoY
• ▍Net margin 16.9%

Revenue ¥190.04B, −7,3% YoY; Operating income +12,4% YoY.

• ▍Revenue ¥190.04B, −7,3% YoY
• ▍Operating income +12,4% YoY
• ▍Net income +10,9% YoY
• ▍Free cash flow +38,8% YoY
• ▍Net margin 16.9%

Revenue ¥205.02B, +7,8% YoY; Operating income +20,5% YoY.

• ▍Revenue ¥205.02B, +7,8% YoY
• ▍Operating income +20,5% YoY
• ▍Net income +18,4% YoY
• ▍Free cash flow +296,6% YoY
• ▍Net margin 14.2%

Revenue ¥190.15B, +0,3% YoY; Operating income +2,1% YoY.

• ▍Revenue ¥190.15B, +0,3% YoY
• ▍Operating income +2,1% YoY
• ▍Net income +6,3% YoY
• ▍Free cash flow +8,9% YoY
• ▍Net margin 12.9%