GREE receives the letter from the Shenzhen Stock Exchange: explaining the specific reasons for not paying cash dividends.

category:Society
 GREE receives the letter from the Shenzhen Stock Exchange: explaining the specific reasons for not paying cash dividends.


GREE electric appliances receive the letter of concern, asking for the specific reasons and reasonableness of no cash dividends in 2017, indicating whether the interests of small and medium investors are effectively protected. (Daily Economic News) For the first time in 11 years, GREEs share price opened near the limit. In the evening of April 25th, the annual report of GREE electric appliance disclosure, the companys annual revenue of 148 billion 286 million yuan in 2017, up 37%, net profit of 22 billion 402 million yuan, a year-on-year increase of 45%, the creation of a new high. With such a good performance, GREE electric announced that the company had no dividend plan in 2017. This is the first time GREE Electric has not paid dividends since 2007. It has been 11 years since the last time it did not pay dividends. The first dividend in 11 years! GREE made a net profit last year, leaving 22 billion 400 million of its money for integrated circuits. GREE said that, according to the 2018 business plan and long-term industrial planning, the company expects to have a larger capital expenditure in future capacity expansion and diversification. In order to seek long-term development of the company and long-term interests of shareholders, the company needs to do a good job of capital reserve. The companys retained funds will be used for the production base construction, the intelligent factory upgrading, and the technology research and development and market promotion of new industries such as intelligent equipment, intelligent household appliances, integrated circuits and so on.