Gree Reports First-Half Growth

Gree Electric Appliances, Inc. of Zhuhai has released its financial report for the first half of 2013, reporting sales revenue of 52.90 billion yuan, or approximately $8.47 billion in U.S. dollars, with an increase of 10.38% compared with the previous year and a net profit increase of 39.85% compared with the previous year. China-based Gree Electric Appliances is the parent company of Gree USA and Soleus Air International.

During Gree’s first half, the gross profit ratio of the company was 29.15%, an increase of 5.4% over the previous year. The gross profit ratio of the company’s air conditioner segment was 29.54%, an increase of 5.64% over previous year, it reported.

In addition, during the first half of the year, Gree noted that it launched a Crown air conditioner series, with two-stage inverter compression technology, as well as a water purifier and air purifier.