[Gree Electric's Automotive Silicon Carbide Chips to Enter Mass Production, Dong Mingzhu States Future Supply to Cover Half of GAC's Chip Needs] Feng Yin, Assistant President of Gree Electric and General Manager of Zhuhai Gree Electronic Components Co., Ltd., revealed at the Greater Bay Area Compound Semiconductor Ecosystem Application Conference that after mass-producing silicon carbide chips for home appliances, Gree Electric's silicon carbide chip factory will also begin mass production this year of silicon carbide chips for PV energy storage systems and logistics vehicles. Gree Electric Chairman Dong Mingzhu joked a few days ago while hosting GAC Group Chairman Feng Xingya that in the future, half of the automotive chips used by GAC will be replaced by Gree's products. (First Financial Daily)

Recently, Gree Electric Appliance (Baotou) Co., Ltd. was established, with Fang Xiangjian as its legal representative and a registered capital of 20 million yuan. Its business scope includes the manufacturing of mechanical and electrical equipment, the production of new energy prime movers, and the sales of PV equipment and components. According to shareholder information, the company is wholly owned by Zhuhai Gree Electric Appliance Co., Ltd., a subsidiary of Gree Electric Appliances.

The flagship Lynk & Co 900 SUV officially hit the market on April 28 this year with four trims offered— 1.5T Halo, 1.5T Ultra, 2.0T Ultra, and 2.0T Explorer — with a limited-time price range of 28...

On July 22, Gree Electric Appliances stated in the record of investor relations activities that the lithium titanate battery series products developed by Gree Titanium feature long service life, high safety, wide temperature tolerance, high C-rate, and fast charging and discharging capabilities. These products are widely used in the ESS sector, including NEVs, industrial and commercial parks, communication base stations, power grid frequency regulation, rail transit, ship shore power, and residential homes. They offer unique advantages, especially in extreme operating conditions such as extremely cold or high-altitude environments, as well as in application scenarios with high safety requirements.

[High temperatures drive air conditioner sales; some companies install 245,000 units in a single day, reaching a historical peak] Recently, high temperatures have been recorded in many parts of the country. Our reporter learned from multiple air conditioner producers that the scorching heat has fueled the "cooling economy," leading to a surge in air conditioner sales. Midea's air conditioner installation volume reached 245,000 units in a single day, breaking the historical peak. Sales in Heilongjiang and Jilin provinces surged by 356%. Xiaomi's air conditioner sales in north-east China soared 20 times YoY. A relevant person in charge from Hisense Air Conditioning revealed that in the first half of this year (H1), Midea's air conditioner sales in the European market increased by 35% overall. Producers such as Gree Electric Appliances, Sichuan Changhong, and Haier Smart Home also exported air conditioner products to Europe.

As July arrived, the heatwave in Europe persisted. Multiple air conditioning enterprises reported that the hot weather in Europe had driven up sales of air conditioners. Bai Rongyao, assistant to the president of Gree Electric Appliances (000651.SZ), said on July 2 that due to extreme weather, temperatures in Europe had been high recently, particularly in Spain, France, Italy, and Germany, with some cities experiencing maximum temperatures exceeding 40°C. As a result of the sudden increase in demand, the inventory of air conditioners among European customers had significantly decreased. Affected by European trade policies, he indicated that in the future, Gree would consider localized production and operations in Europe to enhance the influence of its self-owned brand. "Sales (of air conditioners in Europe) have indeed improved as the weather has gotten hotter," said the head of TCL's European air conditioning market. Relevant personnel from Haier Smart Home (600690.SH) also revealed that Haier's cumulative sales of air conditioners in Europe this year had increased by approximately 30% YoY, with strong performance in markets such as Italy's professional channels and Spain's retail channels.