Research Reports Gold Digging丨Huachuang Securities: Maintain Gree Electric Appliances, Inc.of Zhuhai "Strong Buy" rating, Target Price 60 yuan.

Hua Chuang Securities Research Reports point out that Gree Electric Appliances, Inc. of Zhuhai (000651.SZ) will have a net income of 32.185 billion in 2024, up 10.91% year-on-year; the net income for Q1 2025 is 5.9 billion, up 26.3% year-on-year. In 2024, the external sales performance is impressive, with Q1 revenue growth exceeding expectations. The company continues to optimize channel efficiency through refined management and digital operation methods; forecasts market demand through data analysis to reduce inventory stagnation risk; monitors product circulation using digital tools to improve turnover rate. As a low-valuation, high-dividend industry leader, the company fully enjoys the structural dividend. With the implementation of policies boosting demand in the home appliance industry, the company's cost-effectiveness becomes prominent. Using the DCF valuation method, the adjusted Target Price is 60 yuan, maintaining the "Strong Buy" rating.