Grees net profit fell 54percent year on year in the first half of the year

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 Grees net profit fell 54percent year on year in the first half of the year


Source: half year report of Gree Electric Appliance Co., Ltd

It is worth mentioning that during the reporting period, the company complied with the changes of consumers purchasing habits, and Gree dongmingzhu store promoted the new retail mode nationwide and realized platform sharing with the original offline sales channels. Since April, the company has carried out live broadcast cooperation with major platforms and actively advocated offline exclusive stores and online linkage. With the promotion of the new retail mode of online and offline effective integration, the channel efficiency of the companys products is improved, the channel cost is reduced, and the market competitiveness is expected to be further improved.

Source: half year report of Gree Electric Appliance Co., Ltd

In the first half of the year, the companys other business income increased by 41.73% compared with the same period of last year, mainly due to the growth of bulk raw material centralized purchase and sales. The main purpose of the companys centralized purchase and sales of bulk raw materials is to meet the needs of supporting suppliers of various production bases for bulk raw materials, effectively control the procurement cost, ensure the quality of raw materials and manufacture high-quality products. The company integrates supply chain resources, gives full play to the advantages of group scale, implements centralized procurement of bulk raw materials, and then sells them to upstream supporting suppliers.

Dong Mingzhu, chairman of Gree Electric Appliance Co., said in an interview with the media that our semi annual report is indeed not good-looking. Before our semi annual report was disclosed in advance, my financial colleagues asked me, Mr. Dong, what should we do with this years performance?? I said, publish it as it is!

Dong Mingzhu said: we dont worry about short-term data. Unlike some listed companies, enterprises start to make false accounts when they are running out of money. This is like a patient who has been in bed for a long time, and lives day by day. And the problem dragged for a year to the end of the explosion, poor small shareholders. For Gree, the first consideration in the face of the epidemic is not the sales or profits of enterprises. (Zhongxin Jingwei APP)

Source of this article: Qiao JunJing, editor in charge of Sino Singapore Jingwei_ NBJ11279