Gree Electric's shares [SHE: 000651] fell 1.7 percent as of 9.35 a.m. after the Chinese air-con giant reported its net profit fell 20% to CNY17.3 billion (USD2.6 billion) in the first three quarters from a year earlier, while its revenue dropped 8.1% to CNY126.1 billion (USD18.9 billion).