Gree Electric Appliances, Inc. of Zhuhai was founded in 1991 and it was listed on the Shenzhen Stock Exchange in November 1996. At the beginning, Gree was only a company that assembled residential air conditioners. Now it has grown into a diversified technological global industrial group that has expanded its business to air conditioners, home appliances, high-end equipment and communication equipment. Gree products are sold widely to more than 160 countries and regions.

Gree has 90,000 employees, including 15,000 engineers and over 30,000 technical workers. It has 14 production bases around the world, which are located in Zhuhai, Chongqing, Hefei, Zhengzhou, Wuhan, Shijiazhuang, Wuhu, Changsha, Hangzhou, Luoyang, Nanjing, and Chengdu as well as Brazil and Pakistan. In addition, Gree has established 6 renewable resources bases in Changsha, Zhengzhou, Shijiazhuang, Wuhu, Tianjin and Zhuhai, covering the entire industrial chain from production to recovery of waste products, for green, recyclable and sustainable development. 

The company has 15 research institutes, namely, Refrigeration Technology Institute, Mechanical and Electrical Technology Institute, Home Appliances Technology Institute, New Energy and Environment Technology Institute, Health Technology Institute, Communication Technology Institute, Intelligent Equipment Technology Institute, Robots Research Institute, Numerical Control Machine Tools Institute, Internet of Things Technology Institute, Equipment Power Technology Institute, Motor System Technology Institute, Washing Technology Institute, and Freeze and Refrigeration Technology Institute and Building Environment and Energy Conservation Institute. Gree has established 96 research institutions, 929 laboratories, 1 academician workstations, one national key laboratory, one national engineering research center, one national industrial design center, one national recognized enterprise technology center, and one robotics engineering technology research center. Moreover, it has become the research and evaluation base for the national notification enquiry center.

Stand firm in innovation-driven development. The company has laid down the principle for R&D expenditure: ¡°input according to demand and no upper limit¡±; in 2018, the annual input in scientific research and development reached RMB 7.268 billion. Through many years of research and development, the company has applied for 70,909 national patents including 35,306 invention patents and 2,265 international patents; the cumulative authorized patent is 40,071, including 8,735 invention patents. On the list of China invention patents published by China National Intellectual Property Administration, Gree ranked No.6 in China and No.1 in the home appliances industry for its number of granted patents. Now Gree has developed 30 ¡°world-leading¡± technologies, won 2 National Science and Technology Progress Awards, 2 National Award for Technological Invention, and 4 China Patent Gold Awards. According to the Nikkei newspaper, Gree¡¯s global market share of residential air conditioners reached 20.6% in 2018, ranking No.1 in the world for 14 years. Market share of Gree central air conditioner ranks No. 1 for 8 consecutive years in the domestic market. 

Stand firm in giving priority to quality. The company always insists on integrity operation and has established the perfect quality management mode based on satisfying customers' needs. With strict quality control and system construction, Gree works hard to achieve the target of "Zero Defect, Zero After-sales Service". According to the statistics released by China National Institute of Standardization, Gree's customer satisfaction and loyalty in the past 8 years remained No.1 in the air conditioning industry since 2011. In 2018, Gree won the China Quality Award.

Stand firm in transformation and upgrading. The company follows the supply side structural reform, adjusts and optimizes industrial layout and actively pushes the upgrade of intelligent manufacturing for high-quality development. From 2013, Gree has started to explore the fields of intelligent equipment, communication equipment and molds, expanding its business to diversified high-end technology industry from professional air conditioner production. Currently, Gree's intelligent equipment not only provides advanced equipment for its own automation transformation, but also provides services and solutions for the industries of home appliances, automobiles, food, 3C digital products, building materials and sanitary ware. The production value per person has been increased to RMB 1.496 million in 2018 from RMB 0.912 million in 2012. 

In 2019, Gree achieved sales revenue of RMB 200.508 billion with net profit of RMB 24.697 billion, contributing RMB 15.790 billion in total tax, and ranking No. 1 for the tax payment in the homes appliances industry for 13 consecutive years.

Gree will continue to follow the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era. Never forget its original aspiration, keep the mission in mind, adhere to the real economy, insist on the development road of self-reliance and independent innovation, and accelerate the realization of management informatization, production automation as well as product intelligence. Moreover, Gree will continue to lead the technological development of the international refrigeration industry, create more leading technologies in the fields of intelligent equipment, communication equipment and mold. Gree will constantly satisfy the needs and desires of consumers around the world for a better future, and write a new chapter in the age of intelligence.