(Yicai) June 10 -- A number of Gree Electric Appliances’ business units have the potential to be spun off for independent stock market listings, according to the president of the Chinese white goods giant.

They include industrial products, high-end equipment, precision molds, electronic components, renewable resource recycling, Zhang Wei said yesterday at a performance briefing for the Zhuhai-based firm’s 2024 fiscal year. Gree will assess the prospects for spin-off listings based on market conditions and its development needs, he noted, without providing any further details.

The company is expanding into overseas markets under the Gree, Tosot, and Kinghome brands, Assistant President Bai Rongyao noted at the event. Its proprietary brands have a more than 20 percent market share in the Middle East, several Eastern European countries, Brazil, Indonesia, and Canada, Bai said, adding that it has expanded overseas sales from air conditioners to refrigerators, washing machines, and other home appliances.

Gree plans to pilot regional sales units abroad and set up smart manufacturing bases as part of building an integrated global research, development, production, and sales network, he added.

Kinghome aircon units are rapidly capturing the market with their high cost-performance ratio, said Lu Luqun, director of sales. The next step will be implementing differentiated pricing to better meet the needs of price-sensitive consumers, complementing the main Gree brand and enhancing product offerings across various price segments, Lu added.

Gree entered the semiconductor business in 2015. Its chips, focusing on power semiconductors and integrated circuits, are now widely used in its home aircon units and have also started being used in commercial AC systems, smart equipment, and industrial robots, said Board Secretary Zhang Zhouhu.

Editors: Tang Shihua, Martin Kadiev