The net profit of Gree Electric Appliance decreased by 38.06% in the first three quarters, and the net operating cash flow decreased by 90%

On the evening of 30th, Gree Electric released the third quarter report of 2020. In the first three quarters, the company realized operating revenue of 125.889 billion yuan, a year-on-year decrease of 18.80%; the net profit attributable to shareholders of listed companies was 13.699 billion yuan, a year-on-year decrease of 38.06%; the basic earnings per share was 2.28 yuan, a year-on-year decrease of 38.04%. In addition, Gree’s net cash flow from operating activities in the first three quarters was 3.032 billion, down 90.74% year-on-year. In this regard, Gree Electric said, mainly due to the decrease in cash received from the sale of goods and the provision of labor services. < / P > < p > according to the third quarter report, in the first three quarters, Gree Electric’s government subsidies included in the current profits and losses were 914 million yuan, mainly due to the financial incentives, human resources subsidies, development project fund subsidies and other government subsidies received in the current period. Gree Electric also disclosed that during the reporting period, the Company repurchased 94184662 shares of the company by means of centralized bidding through repurchase special securities account, accounting for 1.57% of the company’s total share capital as of September 30, 2020. The highest transaction price was 57.00 yuan / share, the lowest transaction price was 53.01 yuan / share, and the total amount paid was 5.082 billion yuan (excluding transaction costs). In terms of liabilities, Gree’s short-term loans increased from RMB 15.944 billion at the end of 2019 to RMB 18.086 billion at the end of the third quarter of 2020. The company has 154527 billion yuan of current liabilities and 157.882 billion yuan of liabilities. In terms of secondary market, Gree Electric Appliance 30 daily closed at 58.43 yuan / share, up 1.39%, down 9.12% year-on-year, with a total market value of 351.5 billion yuan. < / P > < p > Disclaimer: the purpose of this article reprinted by finance and economics is to convey more information and does not represent the views and positions of the website. The content of this paper is for reference only and does not constitute investment advice. Investors operate accordingly and bear their own risks. < p > < p > Chinanet is a national key news website under the leadership of the Information Office of the State Council and managed by China foreign language publishing and Distribution Bureau. Through 11 versions in 10 languages, the website releases information 24 hours a day, which is an important window for China to carry out international communication and information exchange.