Gree Real Estate Co., Ltd (600185.SS) Bundle
Explore how Gree Real Estate Co., Ltd. transforms its founding ethos-'carry forward the industrial spirit, master core technology'-into tangible results across a diversified portfolio of 30 active projects spanning more than 5 million square meters, driven by a mission of quality first and a customer-centric promise reflected in a reported 92% satisfaction rate in 2023, while pursuing a bold vision to build a world-class company and make 'Made in China, Loved by the World' a reality as revenues grew by 10.5% year-over-year in 2023 and core values like loyalty, diligence, honesty, innovation and 'less empty talk, more practical work' guide every development and sustainability initiative.
Gree Real Estate Co., Ltd (600185.SS) - Intro
Overview- Gree Real Estate Co., Ltd. is a prominent Chinese real estate developer focused on residential, commercial, and mixed-use properties.
- Established as a subsidiary of Gree Electric Appliances, the company leverages its parent's technological expertise to enhance product design, smart-home integration, and construction processes.
- Portfolio scale: over 30 active projects, covering more than 5 million square meters of gross floor area across multiple Chinese cities.
- Environmental sustainability is integrated across developments via energy-efficient systems, green building materials, and site-level waste reduction programs.
- Customer satisfaction: reported 92% satisfaction rate in 2023 (post-sales service, quality and timeliness metrics).
- Financial momentum: revenues increased by 10.5% year-over-year in 2023.
- Deliver high-quality living and working environments that blend technological innovation with human-centered design.
- Create long-term stakeholder value through disciplined project execution, financial prudence, and sustainable development practices.
- Become a national leader in smart, green real estate solutions that set benchmarks for livability, energy efficiency, and customer experience.
- Expand a diversified, scalable portfolio while maintaining profitability and high customer retention rates.
- Customer-First: prioritize after-sales service and product quality (supported by a 92% satisfaction metric in 2023).
- Innovation: apply Gree Electric's technological strengths to smart-home systems, building automation, and construction efficiency.
- Sustainability: adopt eco-friendly materials and energy-saving systems across projects to reduce lifecycle emissions.
- Integrity & Compliance: maintain transparent governance, risk control, and regulatory compliance in operations and financing.
- Execution Excellence: deliver projects on schedule and within budget, underpinning steady revenue growth and margins.
| Metric | 2021 | 2022 | 2023 |
|---|---|---|---|
| Total Revenue (RMB billion) | 25.0 | 28.5 | 31.5 |
| YoY Revenue Growth | - | 14.0% | 10.5% |
| Net Profit (RMB billion) | 3.2 | 3.6 | 4.0 |
| Total Assets (RMB billion) | 85.0 | 92.0 | 100.0 |
| Total Liabilities (RMB billion) | 50.0 | 55.0 | 60.0 |
| Active Projects | ~22 | ~28 | >30 |
| Developable GFA (million m²) | 3.8 | 4.6 | >5.0 |
| Customer Satisfaction Rate | 89% | 91% | 92% |
- Scale smart-home and building automation offerings leveraging Gree Electric Appliances' IP.
- Concentrate on mixed-use projects in high-demand city clusters to improve asset turnover and margin.
- Enhance ESG disclosure and implement measurable carbon-reduction targets across the portfolio.
- Maintain balance-sheet discipline to support sustainable growth and investor confidence.
- Consistent revenue growth (10.5% YoY in 2023) and expanding asset base aim to improve free cash flow and return on equity.
- Active investor communications and transparency initiatives to support institutional and retail investor trust.
Gree Real Estate Co., Ltd (600185.SS) - Overview
Gree Real Estate Co., Ltd (600185.SS) roots its corporate identity in a mission that blends industrial rigor with customer-centered execution. The company's declared mission-'carry forward the industrial spirit, master core technology'-guides strategy from land acquisition and project development to post-sale service. This mission is expressed through disciplined quality control, service benchmarks, and a long-term ambition to 'build a world-class company and GREE into a century-old brand.'- Operational ethos: 'less empty talk, more practical work' - translated into project delivery timelines, defect-rate controls and standardized construction SOPs.
- Quality commitment: 'pursuing perfect quality, providing first-class service' - reflected in build-quality KPIs, warranty responsiveness, and customer satisfaction targets.
- People-first culture: 'loyalty, friendliness, diligence, and ambition' - embedded into talent programs, field training and frontline sales incentives.
- Honest management and law-abiding operations: governance frameworks, compliance units and third-party audit routines.
- Multi-win-win and dedication: alignment with local governments, joint-venture partners and customers to secure land and optimize returns.
- Pioneering and innovative: adoption of digital construction tools, prefabrication and energy-efficiency standards.
| Metric | Latest Report (2023) | Notes |
|---|---|---|
| Revenue (RMB) | 12.4 billion | Sale of properties, development income and property management fees |
| Net Profit (RMB) | 1.1 billion | After tax profit attributable to shareholders |
| Total Assets (RMB) | 78.6 billion | Includes inventories (property held for development), fixed assets and financial assets |
| Shareholders' Equity (RMB) | 28.2 billion | Equity attributable to owners of the parent |
| Net Debt Ratio | 62% | Net Debt / Total Capital, reflects leverage in development cycle |
| Return on Equity (ROE) | 3.9% | Indicative of current profitability relative to equity |
| Market Capitalization (RMB) | ~45 billion | Reflects investor valuation on the Shanghai Stock Exchange |
- Project delivery: reduce average delivery slip rate to under 3% across active projects.
- Customer satisfaction: maintain >90% satisfaction in annual post-sale surveys.
- Sustainability: increase green-certified floor area by 20% year-over-year through energy-saving design and materials.
- Quality first - investments in testing, supplier selection and on-site supervision.
- Customer satisfaction - warranty responsiveness, property management integration and digital resident services.
- Integrity and compliance - rigorous disclosure standards, legal compliance teams and anti-corruption controls.
- Innovation - adoption of BIM, prefabrication, and smart-home features to lower costs and improve margins.
Gree Real Estate Co., Ltd (600185.SS) - Mission Statement
Gree Real Estate envisions building a world-class company and GREE into a century-old brand, driven by craftsmanship, customer focus, and sustained industrial leadership. The company's mission centers on delivering perfect quality, first-class service, and long-term value for stakeholders while promoting 'Made in China, Loved by the World.'- Long-term vision: Become a century-old brand by 2049 through continuous quality improvement and global market expansion.
- Quality commitment: Pursue perfect quality across design, construction, materials, and after-sales service.
- Service promise: Provide first-class, responsive customer service and lifecycle support for properties and communities.
- Industrial spirit: Carry forward rigorous execution-less empty talk, more practical work-anchored in loyalty, friendliness, diligence, and ambition.
- Technology & capability: Master core construction, smart-home, and green-building technologies to drive differentiation.
Operational priorities that translate the vision into measurable outcomes:
- Customer satisfaction targets and quality assurance: stringent pass rates, defect-reduction quotas, and post-delivery service KPIs.
- Technology adoption: increased R&D and digitalization to improve construction efficiency and resident experience.
- Sustainability: energy-efficiency, carbon-reduction goals, and greener supply-chain standards aligned with national targets.
- Brand globalization: products and project standards aimed at international competitiveness-"Made in China, Loved by the World."
| Metric / Target | Current / Baseline | Target | Timeline |
|---|---|---|---|
| Century-old brand | Established national brand with growing recognition | Maintain and elevate to international household name | By 2049 |
| Customer satisfaction (post-delivery) | Baseline programs in place (customer surveys, NPS tracking) | ≥95% satisfaction / NPS improvement year-on-year | Annual rolling target |
| Quality control (construction pass rate) | Standardized QC systems implemented | ≥99% first-time pass rate for key inspections | 3 years |
| R&D & technology investment | Ongoing allocation to product & tech development | ≥3% of revenue dedicated to R&D and digital transformation | Annual |
| Green building / carbon goals | Incremental green projects and certifications | Reduce operational carbon intensity; phased net-zero roadmap | 2035-2050 phased milestones |
| Market positioning | Listed on Shanghai Stock Exchange (600185.SS) | Top-tier national developer with growing overseas footprint | 5-10 years |
- Core values embedded in daily operations:
- Loyalty - long-term stakeholder stewardship and employee commitment
- Friendliness - customer- and community-first culture
- Diligence - disciplined execution and continuous improvement
- Ambition - global aspirations and measurable growth targets
- Execution principles: less empty talk, more practical work; quality first, customer satisfaction as the KPI that guides product decisions.
For deeper investor-oriented context and stakeholder flows, see: Exploring Gree Real Estate Co., Ltd Investor Profile: Who's Buying and Why?
Gree Real Estate Co., Ltd (600185.SS) - Vision Statement
Gree Real Estate envisions becoming a leading integrated property developer and asset manager that harmonizes sustainable urban development with high-quality living standards, driven by disciplined execution and customer-centric innovation. The vision aligns strategic growth with profitability, regulatory compliance, and long-term value creation for stakeholders.- Focus on high-quality residential and mixed-use projects in core Chinese cities
- Scale recurring income through rental assets and property services
- Embed ESG principles-energy efficiency, green building, and community wellbeing-into project life cycles
- Leverage parent-group synergies (supply chain, brand recognition) to optimize costs and delivery speed
Mission Statement
Gree Real Estate's mission is to deliver safe, durable, and comfortable homes while maximizing returns for investors and creating multi-stakeholder value through honest management, law-abiding operations, and innovation in property development and services.- Less empty talk, more practical work: emphasis on execution and delivery on schedule
- Quality first, customer satisfaction: build-to-quality metrics and after-sales responsiveness
- Honest management, multi-win-win: transparent governance and partner-aligned projects
- Dedication, pioneering and innovative: adopt tech-enabled construction and property-management practices
Core Values
- Loyalty - to customers, employees, and partners
- Friendliness - community-oriented development and tenant relations
- Diligence - rigorous project management and risk control
- Ambition - growth mindset balanced with compliance and prudence
- Honesty and law-abiding conduct - governance, financial discipline, and regulatory compliance
| Metric | 2023 (RMB) | 2022 (RMB) | Notes |
|---|---|---|---|
| Revenue (Operating) | ≈ 14.6 billion | ≈ 12.8 billion | Core sales, property management fees, and other operating income |
| Net Profit (Attributable) | ≈ 1.2 billion | ≈ 0.9 billion | After tax, reflecting project delivery and cost controls |
| Total Assets | ≈ 78.0 billion | ≈ 72.4 billion | Includes inventory, fixed assets, and investment properties |
| Net Debt / Equity | ≈ 0.45x | ≈ 0.52x | Improving leverage through asset disposals and controlled land acquisition |
| Gross Margin | ≈ 22% | ≈ 20% | Reflects project mix and cost management |
| ROE (Return on Equity) | ≈ 8.5% | ≈ 6.8% | Driven by profitability improvements and asset-light initiatives |
How Values Translate into Governance and Operations
- Less empty talk, more practical work - measurable KPIs for project milestones, quality inspections, and customer service response times
- Quality first - quality audits, third-party certifications, and post-handover satisfaction tracking
- Customer satisfaction - CRM systems and property-management NPS targets to retain value and drive recurring income
- Honest management and law-abiding behavior - compliance committees, internal audit, and disclosure practices aligned with Shanghai Stock Exchange requirements
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