Gree realized growing sales during the market downturn. In 2011, it maintained its growth momentum with sales revenue of RMB 83.5 billion (US$ 13.1 billion), a 37% year-on-year growth.

 

On December 17, 2011, Gree’s two-stage high efficiency permanent magnet synchronous inverter centrifugal chiller, the first of its kind in the world, passed expert review. The review panel, which included five academicians and more than 10 other experts, all recognized that this model has attained the leading international standard. This technology has received 32 patents; among them 12 are invention patents. This model conserves 40% more electricity than traditional centrifugal chillers and is 65% more efficient than previous generation.  Within the reporting period, Gree successfully developed China’s first self-developed refrigeration container unit specifically  designed for transportation refrigeration.