Gree buys back stock, grows chips and R290, but overseas gap and pledges weigh
Major shareholder pledges over 80% of holdings Gree's largest shareholder, Zhuhai Mingjun, added 68.9 million shares to its pledge, pushing total pledged shares above 80% of its stake. This signals possible financial strain at the top owner and raises risk for outside investors, which can pressure the stock price.
This is a new risk event that directly affects investor confidence in Gree's ownership stability.
Gree's chip and R290 tech progress Gree's silicon carbide chips passed 300 million cumulative sales, installed in over 2 million air conditioners, and it now offers foundry services. It also launched R290 refrigerant products in Europe. These moves strengthen Gree's technology edge and could support future sales and margins.
It shows new technology and product progress that can improve Gree's competitive position and long-term earnings.
Workforce shrinks, overseas lags, but Europe heat boosts sales Gree's headcount fell nearly 20% from its 2019 peak, and overseas revenue is far behind Haier and Midea. However, extreme heat in Europe sold out Gree's portable air conditioners in France, Spain, and Portugal, with locked-in orders. The overseas weakness is a drag, but the Europe sales spike offers a positive offset.
It captures both the negative structural issue of overseas lag and the positive short-term demand boost from Europe.
Company buybacks support the stock Gree repurchased 500,000 shares for 19.74 million yuan in August, and by September 30 had bought back 28.32 million shares for 1.083 billion yuan. Buybacks reduce shares outstanding and signal management confidence, which typically supports the stock price.
It is a new capital action that directly boosts shareholder value and market sentiment.