Following the recent formulation of the three-year shareholder return plan, Gree Electric Appliances Inc.Of Zhuhai(000651) quickly launched the medium-term dividend plan for 2021, paying cash dividends of 10 yuan (including tax) for every 10 shares. It is estimated that the total cash dividends will be about 5.537 billion yuan.
According to the disclosure, Gree Electric Appliances Inc.Of Zhuhai(000651) achieved a net profit of 7.888 billion yuan (Unaudited) in the first half of 2021. As of June 30, 2021, the profit available for distribution to shareholders was 59.671 billion yuan (Unaudited). The company plans to distribute a cash dividend of 10 yuan (including tax) to all shareholders for every 10 shares, without bonus shares and increasing share capital with provident fund, with a total cash dividend of 5.537 billion yuan.
Looking back, Gree Electric Appliances Inc.Of Zhuhai(000651) the equity distribution plan for the half year of 2020 will eventually distribute cash of 10 yuan (including tax) for every 10 shares without bonus shares, and the cash distributed in the current period is about 5.922 billion yuan. Compared with the half year of 2021, the scale of Gree Electric Appliances Inc.Of Zhuhai(000651) dividend will be reduced year-on-year. However, in the household industry sector, Gree Electric Appliances Inc.Of Zhuhai(000651) dividend strength has been the first for a long time. According to statistics, the cumulative dividend amount of Gree Electric Appliances Inc.Of Zhuhai(000651) since its listing has reached 84.3 billion yuan, with a dividend rate of 44.2%.
Recently, Gree Electric Appliances Inc.Of Zhuhai(000651) also disclosed the shareholder return plan for the next three years (2022-2024), Gree Electric Appliances Inc.Of Zhuhai(000651) will distribute profits twice a year from 2022 to 2024, that is, annual profit distribution and medium-term profit distribution; In addition, on the premise that the cash flow meets the company’s normal operation and long-term development, the company will accumulate the total amount of cash dividends every year within the above three years, which shall not be less than 50% of the net profit of the current year.
Compared with the past shareholder returns, Gree Electric Appliances Inc.Of Zhuhai(000651) has increased the frequency and ratio of dividends: from 2016 to 2018, the company planned to distribute the accumulated profits in cash not less than 30% of the annual distributable profits realized in the last three years; On the premise of no major investment plan expenditure, the proportion of cash dividends shall not be less than 60%.
Dragged down by the downward trend of the real estate cycle, superimposed on the rising prices of raw materials, the cost pressure increases, and the profit of the household appliance sector is under pressure, Gree Electric Appliances Inc.Of Zhuhai(000651) in the first three quarters of 2021, the net profit was 15.6 billion yuan, a year-on-year increase of about 14%, of which the net profit in the third quarter was 6.188 billion yuan, a year-on-year decrease of 15.66%.
According to the industry online forecast data, the domestic shipments of household air conditioning industry will decline by 2.1% in 2022, and the overall demand is expected to continue the weak trend; In terms of export, affected by factors such as the high export base and the increase of inventory in overseas channels, it is expected that the shipment volume will decline by 3.7%. In terms of domestic sales, Gree achieved a shipment of 31.65 million units, with a year-on-year increase of 6.8% respectively. Its performance was better than the industry average and still maintained a leading position.
The organization expects Gree Electric Appliances Inc.Of Zhuhai(000651) profit improvement to be expected. Since the third quarter of last year, the prices of copper, aluminum and other raw materials have been flat month on month, with a slight decline, and the pressure on the cost side has been gradually relieved; In addition, considering the continuous promotion of the company’s channel reform and the accelerated upgrading and transformation of dealers, it is expected that the company’s operating efficiency will be improved and the overall profit is expected to be improved. In addition, Gree Electric Appliances Inc.Of Zhuhai(000651) is exploring the “second growth curve”, developing the business of ice washing and other household appliances, and arranging emerging industries such as intelligent equipment, precision molds, new energy and semiconductors.
According to the market performance of , the stock price of Gree Electric Appliances Inc.Of Zhuhai(000651) fell by about 37% last year, but since November last year, the company’s stock price has rebounded, rising by about 10% as of the latest closing. The company has also launched repurchase protection for many times. According to statistics, Gree Electric Appliances Inc.Of Zhuhai(000651) the cumulative repurchase amount implemented since 2020 is about 27 billion yuan.
In addition, according to the latest results of the quarterly review and adjustment of the global index company MSCI, Gree Electric Appliances Inc.Of Zhuhai(000651) was re included in the MSCI global standard index, and the relevant adjustment results will take effect after the closing on March 1. Statistics show that the Shenzhen Hong Kong stock connect transaction previously Gree Electric Appliances Inc.Of Zhuhai(000651) was limited because the proportion of foreign shares exceeded the upper limit.
