Gree Electric Appliance

What Gree Electric Appliance does

Gree Electric Appliance, founded in 1991 in Zhuhai and listed on the Shenzhen Stock Exchange (000651) since 1996, is China's largest air conditioner manufacturer and the global #1 split-type AC brand by retail volume as of 2024 (per Euromonitor). The company operates two integrated business segments: consumer products (residential and commercial air conditioning, refrigerators, washing machines, water heaters, smart home devices under the Gree, TOSOT, Jinghong, and Gree Titanium sub-brands) and industrial products (compressors, motors, electronic components, precision molds, intelligent equipment, and lithium titanate batteries sold under the Landa, Kaibang, and Xinyuan brands). Gree is vertically integrated from chip design (SiC MOSFETs) through core component manufacturing (magnetic suspension centrifugal compressors, permanent magnet variable-frequency motors) to finished appliances and a global distribution network spanning 27 regional sales companies, 30,000+ retail stores, 60,000+ distribution points, and 77 production bases across China, Brazil, Pakistan, and Vietnam.

Gree generates revenue primarily through hardware sales, with residential and commercial air conditioning as the dominant cash engine (FY 2025 Q1-Q3 revenue: CNY 137.654 billion; net margin 15.59%). Secondary streams include white goods, industrial components sold B2B, photovoltaic direct-drive air conditioning and energy storage systems, and the Gree+ smart home ecosystem. The go-to-market combines a deep direct-sales and field-sales enterprise motion (commercial projects, data centers, government buildings) with retail, e-commerce (Tmall, JD.com, Suning, mall.gree.com), and international distributor channels across 190+ countries. Pricing is unit-based with published service-fee schedules and a 10-year free residential AC warranty.

Gree's competitive position rests on a substantial technology and IP base — 140,201 patents filed, 50 technologies independently rated as internationally leading, 16 research institutes, 1,411 laboratories, and leadership of international standards including IEC 63349-1:2025 (PV direct-drive appliance controllers) and two ISO compressor standards. The company has ranked #1 in China central air conditioning market share for 13 consecutive years and #1 in residential AC customer satisfaction for 16 consecutive years. Recent strategic priorities include AI-enabled appliances (March 2026 JD.com partnership for 10M AI ACs), photovoltaic and zero-carbon building solutions, refrigerator/washer category expansion, and international self-owned brand growth (from <30% in 2015 to 70% in 2024).

Name

Gree Electric Appliance

Legal name

GREE ELECTRIC APPLIANCES,INC.OF ZHUHAI CO.,LTD

Website

https://gree.com.cn

Company type

Public

Founded year

1991

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Gree Electric Appliance is China's largest air conditioner manufacturer and a global HVAC leader, producing residential and commercial air conditioning, home appliances, smart home systems, and industrial components for individual consumers, enterprises, government, and international markets across 190+ countries.

Ownership category

akta.pro rank

Product category

Consumer Electronics and HVAC Manufacturing

NAICS

Air-Conditioning and Warm Air Heating Equipment and Commercial and Industrial Refrigeration Equipment Manufacturing (333415), Ventilation, Heating, Air-Conditioning, and Commercial Refrigeration Equipment Manufacturing (33341), Industrial and Commercial Fan and Blower and Air Purification Equipment Manufacturing (333413), Major Household Appliance Manufacturing (33522), Automatic Environmental Control Manufacturing for Residential, Commercial, and Appliance Use (334512)

SIC

Air-Cond & Warm Air Heatg Equip & Comm & Indl Refrig Equip (3585), Household Appliances (3630), Industrial & Commercial Fans & Blowers & Air Purifing Equip (3564), Electric Housewares & Fans (3634), Electronic & Other Electrical Equipment (No Computer Equip) (3600)

akta.pro primary industry

Air Handling Units (AHUs) & Rooftop Units (RTUs) (IMADANAA)

akta.pro secondary industries

Commercial HVAC/R Installation (Rooftop Units, Split Systems) (HSAOAGAH), Smart Thermostats & HVAC Controls Retail (CRAIAMAC), Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System) (EUAMABAB)

Keywords

• Air conditioning systems
• HVAC equipment
• Home appliances manufacturing
• Commercial chillers
• Smart home devices

Headquarters

HQ city

Hefei

HQ country

China

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Technology or R&D, Operations, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Air Conditioning Products: Gree's primary revenue driver, encompassing residential split air conditioners, central air conditioning systems, commercial chillers, multi-connected units, and heat pumps. Gree is China's largest air conditioner manufacturer and the globally #1 split-type AC brand by retail volume.
2. Home Appliances (White Goods): Refrigerators, washing machines, water heaters, air purifiers, air fans, rice cookers, induction cookers, and small kitchen appliances sold under Gree and sub-brands (TOSOT, Kinghome).
3. Industrial Products: Compressors (凌达/Landa), motors (凯邦/Kaibang), electronics (新元电子), wire and cable (格力电工), precision molds, intelligent equipment/robots, and valves. Gree sells core components to external manufacturers beyond internal use.
4. Photovoltaic/Energy Storage Systems: Gree's photovoltaic air conditioning systems and lithium titanate battery storage systems (格力钛) for residential and commercial zero-carbon applications. Includes energy management systems and solar panels.
5. Smart Home / IoT Ecosystem: Gree+ app-connected smart home devices including air conditioners, air purifiers, water heaters, smart locks, and lighting. Revenue from smart device sales and ecosystem integration.

Pricing tiers

Go-to-market motion4 records

Distribution channels6 records

Marketing channels7 records

Core offering

Gree Electric Appliance manufactures and sells air conditioning systems (residential split AC, commercial central AC, centrifugal and magnetic suspension chillers, VRF systems), home appliances (refrigerators, washing machines, water heaters, air purifiers, kitchen appliances), smart home devices, photovoltaic direct-drive air conditioning, lithium titanate energy storage systems, and industrial components (compressors, motors, molds). The company also sells through the Gree+ smart home app and operates a zero-carbon health home ecosystem integrating solar generation, storage, and intelligent device management.

Product overview

Gree Electric Appliance is a diversified technology industrial manufacturing group with two main business segments: consumer household products and industrial equipment. The product portfolio spans air conditioning systems (residential and commercial central AC), home appliances (refrigerators, washing machines, water heaters), smart home products (smart locks, switches, curtains), and industrial components (compressors, motors, molds). The core platform is the Gree+ smart home app that connects and manages all intelligent devices, supplemented by the Zero Carbon Health Home (零碳健康家) system integrating photovoltaic storage air conditioning. The ecosystem includes multiple sub-brands: Kinghome (空调整体解决方案), TOSOT (生活电器), and Jinghong (冰箱). Commercial offerings include central air conditioning systems for large buildings, commercial air-sourced water heaters, and industrial products for B2B customers.

Differentiator

Problem solved

Functional benefit

Brands

• Gree (格力): Main brand for air conditioners and home appliances.
• Jinghong (晶弘)
• Tosot (大松)
• Gree Titanium (格力钛)

Products and services

• Home Air Conditioners (家用空调)
• Commercial Central Air Conditioners (商业中央空调)
• Refrigerators (冰箱) - Including Snow Leopard 508L, Whole-Domain Fresh, Tender Fresh Series
• Washing Machines (洗衣机) - Including Heat Pump Wash-Care Machine
• Water Heaters (热水器)
• Gree+ Smart Home App (格力+ APP)
• Zero Carbon Health Home System (零碳健康家)
• Photovoltaic Storage Air Conditioning (光储空调系统)
• Centrifugal Chillers - CE, CVT, CVP, CVS Series (离心式冷水机组)
• CC Series Magnetic Suspension Variable Frequency Centrifugal Water Chillers (CC系列磁悬浮变频离心式冷水机组)
• Jinghong Refrigerators (晶弘冰箱)
• Industrial Products (工业制品) - Landa Compressors, Kaibang Motors, Gree Molds
• Commercial Air-Sourced Water Heaters (商用空气能热水器) - Including Gree Heat Water Bay
• Smart Home Products (智能产品) - Including Gree Fingerprint Smart Lock P2, Smart Curtain Motor

Quantifiable outcome

• Gree central air conditioning has maintained No. 1 market share in China for 13 consecutive years (iData Media '暖通空调与热泵' report)
• +7 more outcomes

Named customers10 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability6 records

Feature6 records

Partnerships

Five partnerships are on record, tiered core and minor.

• JD.comcoreChannel Partner/ Reseller/ Distributor · 13 March 2026Gree signed a strategic partnership with JD.com on March 13, 2026, aiming to sell 10 million AI-enabled air conditioners over three years through JD's nationwide distribution network. The deal signals Gree's aggressive push into AI-integrated smart home appliances and leverages JD's logistics and retail reach to counter intensifying competition and price pressure in China's home appliance market. Gree's A-shares gained 3.2% on the announcement day.
• Grupo Imperador (Brazil)coreChannel Partner/ Reseller/ Distributor · 1 January 2025Gree collaborated with local Brazilian partner Grupo Imperador to deploy its VRF air conditioning systems for the COP30 Leaders' Residence (Vila Líderes) in Belém, Brazil. The project deployed 443 indoor units and 36 outdoor units with 718 horsepower total cooling capacity, supporting 19,000 sqm of summit facilities. The project demonstrates Gree's ability to execute large international projects with local partners.
• Guangzhou Electronics Bailey Certification Center (for carbon emissions)minorOthers · 1 January 2025Guangzhou Electronics Bailey Certification Center verified Gree's 2023 greenhouse gas emissions at 733,936 tons CO2 equivalent, providing third-party carbon disclosure certification.
• CTI Certification (for carbon emissions)minorOthers · 1 January 2025CTI Certification verified Gree's 2024 greenhouse gas emissions at 598,429.26 tons CO2 equivalent, providing third-party carbon disclosure certification.
• Daikin, Mitsubishi Electric, Johnson ControlsminorStrategic or Co-development Partner · 1 January 2023Multiple international HVAC competitors including Daikin, Mitsubishi Electric, and Johnson Controls have been identified in industry reports as key market rivals and occasional partners in capacity expansion, R&D investments, and strategic partnerships in the Asia Pacific heat pump compressor market.

Scale indicators15 records

Recent moves7 records

Expansion highlights8 records

Direct peers

• Hisense Home Appliances: Chinese home appliance group with substantial AC, refrigerator and washing machine businesses. Hisense directly competes with Gree in China's residential AC market and increasingly in international branded appliance sales through Hisense and Kelon brands.
• Johnson Controls International: Global building technologies and HVAC leader, particularly strong in commercial chillers and building automation. Johnson Controls is identified in industry reports as a key Asia Pacific heat pump compressor competitor and competes in data center and commercial HVAC projects.
• Mitsubishi Electric: Major Japanese manufacturer of commercial and residential HVAC, compressors and automation. Mitsubishi Electric is a key competitor in commercial chillers, heat pumps, and high-efficiency variable frequency systems that overlap with Gree's CVT series centrifugal chillers.
• Midea Group: China's largest home appliance group with competing AC, refrigerator, washing machine and small appliance lines. Midea is Gree's primary direct competitor in residential and commercial HVAC in China and increasingly in overseas markets, with comparable scale and channel reach.
• Haier Smart Home: Chinese home appliance leader competing head-to-head with Gree in residential AC, refrigerators, washing machines and smart home. Haier's global brand portfolio (Haier, Candy, GE Appliances) makes it a particularly close competitor in Gree's international expansion markets.
• Daikin Industries: Japan-based global HVAC leader and the dominant force in residential and commercial air conditioning worldwide. Daikin competes directly with Gree's central AC business, especially in commercial chillers, VRF systems, and international markets where Gree is expanding.
• Trane Technologies: U.S.-based global leader in commercial HVAC, chillers and building climate solutions. Trane competes directly with Gree's centrifugal chiller business and commercial HVAC projects in data centers, hospitals, and large buildings worldwide.
• Carrier Global: U.S.-based global HVAC and refrigeration leader with strong commercial chiller and VRF portfolio. Carrier overlaps with Gree in commercial central AC, data center cooling, and large international projects.
• LG Electronics: Korean electronics conglomerate with substantial HVAC, home appliance and smart home businesses. LG competes with Gree in residential AC, particularly in the Middle East, Southeast Asia and Latin America where Gree reports #1 market share.

Broad incumbents

• Samsung Electronics: Korean technology giant with global residential AC, smart home appliances and component businesses. Samsung competes with Gree in residential AC and smart home integration, though its HVAC business is one division among many broader consumer electronics operations.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat8 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/GreeCorporate
• YouTubeyoutube.com/@GreeCorporate
• Facebookfacebook.com/GreeGlobal
• LinkedInlinkedin.com/company/gree-electric-appliances
• Instagraminstagram.com/gree_global

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries3 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments11 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Gree Electric Appliance