Recently, Dong Mingzhu’s words in the live broadcast caused social misunderstanding, that is, “Gree Electric lost more than 30 billion yuan in the first quarter”, which was interpreted by the media as “loss”, which shocked many melon eaters, but in fact it was not. Losses, just “reduced sales”.
On the afternoon of April 26, Gree Electric issued an announcement to clarify that the recent media reports on “Gree Electric’s loss of over 30 billion in the first quarter” did not conform to objective facts.
The announcement mentioned that what Dong Mingzhu said was that the company’s sales revenue in the first quarter of 2020 fell short of expectations, more than 30 billion less than the expected target, and related media reported that “Gree Electric’s loss in the first quarter exceeded 30 billion”, “Gree One The quarterly loss of 30 billion yuan, the degree of loss is very large” and so on are inconsistent with the facts. Gree Electric urgently clarified the fact: it was just that the income did not meet expectations!
Regarding the performance of the first quarter, Gree Electric released a performance forecast on April 14. It is expected to achieve a turnover of 20.7 billion yuan to 22.9 billion yuan in the first quarter, and a net profit of 1.33 billion yuan to 1.71 billion yuan attributable to the parent, a year-on-year increase. A decrease of 70%-77%.
Regarding the reason for the decline in performance in the first quarter, Gree Electric said that due to the impact of the new parvovirus pneumonia epidemic, the market sales and installation activities of users in the air-conditioning industry could hardly be carried out, and the company and upstream, mid-stream and downstream enterprises could not start production in a timely manner; in the first quarter, air-conditioning The decline in demand from end consumers in the manufacturing industry, combined with the expected impact of the implementation of the new energy efficiency ratio standards, further intensified competition in the manufacturing industry, and the company continued to implement active new policies for promotional activities.