Gree Electric Reports Revenue And Profit Decline
Gree Electric reported a decline in both revenue and profits for the previous year. The company is now planning dividends and share buybacks. The company plans to execute a large-scale dividend and share buyback program following the decline. Gree Electric reported a 55% plunge in first-quarter profits to 510 million euros. The company is reducing its workforce by 300 employees in France and approximately 450 employees abroad. Intense competition in the Chinese automotive sector is cited as a primary factor weighing on profitability. Gree Electric's revenue and profits both declined last year.
Topics
Developing
- 862d Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore.
- 862d Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur.
- 862d Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est.
- 862d Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium.
Sources · 7 independent
CLS Finance China
“格力电器去年营收盈利均下滑 计划大手笔“分红+回购””
France Info
“profit plongé de 55% à 510 millions d'euros au premier trimestre sur un an. Résultat l'esté essentiellement par l'intense concurrence en Chine”
Unlock the full story
Get a Pro subscription or above to see the live story progression and the full list of independent sources confirming each event as they happen.
Log in to upgrade