Gree Electric Appliances (000651) Q3 2025 earnings summary

Executive summary

• Revenue for Q3 2025 was ¥39.86 billion, down 15.09% year-over-year; net profit attributable to shareholders was ¥7.05 billion, down 9.92% year-over-year.

• Year-to-date revenue reached ¥137.18 billion, a 6.5% decrease year-over-year; net profit attributable to shareholders was ¥21.46 billion, down 2.27% year-over-year.

• Cash flow from operating activities surged 259.71% year-over-year to ¥45.73 billion for the period.

Financial highlights

• Basic and diluted EPS for Q3 were ¥1.26, down 11.27% year-over-year; year-to-date EPS was ¥3.86, down 3.02%.

• Total assets at period end were ¥399.22 billion, up 8.47% from the previous year-end.

• Shareholders’ equity attributable to listed company shareholders was ¥144.42 billion, up 5.10% from year-end.

• Non-recurring profit and loss items contributed ¥410 million in Q3 and ¥876 million year-to-date, mainly from government subsidies and fair value changes.

Outlook and guidance

• Management attributes the significant increase in operating cash flow to higher cash received from sales and lower cash outflows related to operations.