Gree (Chinese: 格力; officially Gree Electric Appliances, Inc. of Zhuhai) is a Chinese multinational electrical-appliance and industrial-equipment manufacturer headquartered in Zhuhai, Guangdong, China. The company is best known internationally for air conditioners and HVAC systems, but its present-day business is considerably broader, covering household appliances, refrigeration, smart-home products, industrial equipment, motors, compressors, renewable-energy technologies and other manufacturing businesses.

Gree was established in 1991 and listed on the Shenzhen Stock Exchange in November 1996. From a small factory initially producing residential window air conditioners, it has grown into one of China’s largest appliance manufacturers and a major global air-conditioning brand. The company says its products now serve more than 190 countries and regions.

The corporate information above is based primarily on Gree’s own global and corporate materials.

Gree is essentially a technology and manufacturing company built around climate-control technology. While often associated strictly with air conditioning, the company describes itself as a diversified, technology-oriented global industrial group operating in two broad areas:

1. Household consumer goods
2. Industrial equipment

Its portfolio includes residential and commercial air conditioning, refrigerators, washing machines, water heaters, kitchen appliances, environmental appliances, smart-home products and building systems. On the industrial side, it makes equipment and components including compressors, motors, precision molds, refrigeration equipment, semiconductor-related products, industrial energy-storage products and renewable-resource technologies 1.

History and Growth

Gree’s history goes back to Zhuhai, a city in Guangdong Province in southern China. Originally a relatively small air-conditioning operation, the company concentrated primarily on assembling and manufacturing residential air conditioners, particularly window units, with an initial annual production of fewer than 20,000 units.

During the 1990s, Gree placed increasing emphasis on product quality, manufacturing systems and brand building. The company invested heavily in:

• Manufacturing capacity
• Product quality
• Distribution
• R&D
• Compressor and component technology
• Energy efficiency
• Brand recognition

Gree subsequently became one of China’s dominant air-conditioner manufacturers. The company was listed on the Shenzhen Stock Exchange in 1996, giving it access to capital markets and providing an additional platform for expansion 2.

Leadership

One of the most important figures in Gree’s history is Dong Mingzhu. Dong joined Gree’s predecessor as a salesperson in 1990. She subsequently rose through the organization, eventually becoming one of the most recognizable corporate leaders in China. She became chairwoman of Gree Electric’s board in 2012, while also serving as president 3.

Her leadership has become closely associated with Gree’s corporate identity. The business philosophy emphasizes technological self-reliance, product quality, manufacturing, innovation, long-term development, and strong internal capabilities. Dong has particularly emphasized the idea that a manufacturer should possess its “core technologies” rather than simply assemble products designed by others. This philosophy is reflected in slogans such as “Gree — mastering core technologies” and “Let the world fall in love with Chinese manufacturing.”

Residential Climate Control

Air conditioning remains the company’s core competency. Residential products include:

• Wall-mounted split ACs
• Floor-standing ACs
• Multi-split systems
• Inverter air conditioners
• Heat-pump products
• Smart/connected air conditioners
• Air purifiers
• Air coolers
• Dehumidification-related products

Commercial HVAC

Gree produces large-scale climate-control systems for offices, hotels, shopping malls, factories, hospitals, public buildings, transportation facilities, and large infrastructure projects. Its technology portfolio includes chillers, VRF/multi-split systems, heat pumps, rooftop and packaged systems, and large-scale central air-conditioning systems.

Household Appliances

Beyond climate control, the consumer portfolio includes:

• Refrigerators
• Washing machines
• Water heaters
• Rice cookers
• Electric pressure cookers
• Fans
• Heaters
• Induction cookers
• Humidifiers
• Air purifiers
• Water purifiers
• Water dispensers
• Kitchen appliances

Industrial Equipment

Behind the consumer-facing brand is a larger industrial ecosystem. The company makes or develops:

• Compressors
• Motors
• Precision molds
• Machine tools
• Industrial robots
• Automation equipment
• Refrigeration equipment
• Electrical components
• Semiconductor-related components
• Energy-storage technologies
• Renewable-resource systems

The company’s annual report explicitly divides its operations between household consumer goods and industrial equipment 11.

Gree Electric Appliances owns more than just the GREE consumer brand. The company’s reports identify three major consumer brands:

GREE

The flagship brand, particularly associated with air conditioning, HVAC, household appliances, and climate-control technology.

TOSOT

TOSOT is another consumer-appliance brand associated with Gree. It has a particularly important role in international markets and covers various appliances and air-conditioning products.

KINGHOME

KINGHOME is another consumer brand, particularly associated with appliances such as refrigerators.

Gree also lists industrial brands including LANDA, Kaibang and Xinyuan. These are more closely connected with components and industrial technology than with consumer-facing products 4.

A major difference between Gree and many appliance brands is the extent to which it tries to control its own industrial technology and supply chain. Rather than purchasing every important component from unrelated suppliers, Gree operates a vertically integrated ecosystem. For example: R&D → component development → manufacturing equipment → compressor/motor → air conditioner → sales/service.

This integration supports the strategy of developing core technologies. R&D is central to Gree’s identity. The company maintains an extensive research network covering areas such as refrigeration, electromechanical engineering, home appliances, new energy, environmental technology, health technology, communications, intelligent equipment, robotics, Internet of Things, motors, washing technology, refrigeration and cold-chain technology, building energy efficiency, and electrical materials. The corporate profile lists 16 research institutes and a very large laboratory and engineering infrastructure.

Energy Efficiency

Given that air conditioning consumes substantial amounts of electricity worldwide, energy efficiency is strategically important. R&D efforts cover inverter technology, high-efficiency compressors, heat pumps, refrigerant technology, intelligent energy management, magnetic-bearing compressors, high-temperature heat pumps, solar/photovoltaic-related HVAC systems, and energy-storage technology. In 2025, the company highlighted technologies including large-power magnetic-levitation products and a high-temperature industrial heat pump, as well as an AI-based energy-efficiency chip for air conditioning.

Gree is no longer simply a Chinese domestic brand. Its products are sold across Asia, Europe, North America, Latin America, Africa, the Middle East, and Oceania. The company’s official global distributor network includes markets such as Indonesia, Malaysia, Thailand, Australia, Brazil, Mexico, the United States, Canada and numerous European and Middle Eastern countries 5.

Gree also has overseas production facilities, notably in Brazil and Pakistan, alongside its extensive Chinese manufacturing network.

Scale

The scale of the company has changed dramatically since its beginnings. Current corporate information describes Gree as having:

• Nearly 80,000 employees in one corporate profile;
• A very large R&D and technical workforce;
• 77 production bases in China and overseas according to the company’s current corporate profile;
• Production operations in China, Brazil and Pakistan;
• Six renewable-resource bases;
• Products sold in 190+ countries and regions.

The global website also provides a broader figure of more than 90,000 employees, together with 15,000 R&D personnel and more than 30,000 technical workers.

Gree is a very large publicly traded company. For perspective, Gree Electric reported 2024 operating revenue of approximately RMB 190.0 billion and attributable net profit of approximately RMB 32.2 billion 7.

The 2024 revenue mix illustrates continuing diversification:

• Home appliances: about RMB 148.6 billion
• Industrial products and green energy: about RMB 17.25 billion
• Smart devices: about RMB 424 million
• Other businesses made up the remainder 8.

In the first three quarters of 2025, Gree reported revenue of approximately RMB 137.65 billion and attributable net profit of approximately RMB 21.46 billion 9.

Gree frequently describes itself as the world’s largest specialized air-conditioning manufacturer. This refers specifically to its enormous scale and specialization in air-conditioning manufacturing, rather than total consumer electronics volume. Gree has highlighted Euromonitor data showing that its products ranked No. 1 globally by retail sales volume in split air conditioners in 2024.

Competitors

Gree operates in highly competitive markets. Important competitors in air conditioning/HVAC include:

• Daikin
• Midea
• Haier
• Mitsubishi Electric
• Panasonic
• LG
• Samsung
• Carrier
• Trane Technologies
• Johnson Controls / Hitachi-related HVAC businesses

Gree and Midea are particularly important Chinese competitors, while Daikin is one of the most important Japanese/global competitors in HVAC.

Gree vs. Midea

People often compare Gree with Midea because both are huge Chinese appliance manufacturers. A simplified comparison is:

Gree’s historical DNA is air conditioning first, whereas Midea’s DNA is more broadly consumer appliances and electrical equipment.

The formal company is Gree Electric Appliances, Inc. of Zhuhai. It is publicly traded in mainland China under Shenzhen Stock Exchange: 000651. The company was listed on 18 November 1996 10.

It should be distinguished from Gree Group, the broader Zhuhai-based state-owned enterprise that historically had an important ownership relationship with Gree Electric. The relationship between Gree Electric and Gree Group has changed significantly over time, particularly after the transfer of a major Gree Electric stake in 2019 6.

Smartphone Venture

One unusual chapter in Gree’s history was its attempt to enter the smartphone business. Beginning in the mid-2010s, Gree released several smartphone models. However, smartphones never became a major pillar of the company’s business, and Gree subsequently reduced its involvement in that sector. This episode illustrates the company’s broader strategy of periodically experimenting with businesses outside its traditional HVAC specialization.

Gree is a Chinese multinational manufacturer founded in Zhuhai in 1991 that grew from a small residential air-conditioner factory into one of the world’s major HVAC companies and a diversified industrial group. Its flagship GREE brand is particularly famous for residential and commercial air conditioning, while the wider Gree Electric group also produces refrigerators, washing machines, water heaters, kitchen and environmental appliances, compressors, motors, industrial equipment, smart devices and green-energy technologies. Led for many years by Dong Mingzhu, the company has built its identity around manufacturing, proprietary technology, R&D and vertical integration. Today its products reach more than 190 countries and regions, making Gree one of the most prominent examples of a Chinese manufacturing brand that has expanded from a domestic market into a global technology and industrial business. 1213141516171819

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