June 27 (NBD) -- Chinese air conditioner manufacturer Gree Electric Appliances Inc of Zhuhai (Gree, 000651.SZ) is seeking for a new breakthrough for its revenue growth, as the domestic air conditioner market cools down this year.

In 2017, the revenue of Gree hit a record 148.29 billion yuan (22.6 billion U.S. dollars), representing a year-on-year surge of 36.92 percent. According to Dong Mingzhu, president of the air conditioner giant, the company aims to push up the metric for 2018 to 200 billion yuan (30.5 billion U.S. dollars). 

However, there's still no clear path for Gree to achieve the ambitious goal so far. 

Statistics from industry data provider ChinaIOL show that the scheduled output of air conditioners for May was up 6 percent year over year, a significant drop from the 17 percent growth registered in the previous month.

Conditioner sales contributed over 80 percent of the home appliance supplier's total revenue. If the company still relies heavily on its air conditioner sales, it may have difficulty in reaching that goal.  

It is noted that the appliance manufacturer has also invested in smart equipment, smartphones and chips so as to push forward diversified expansion.

Email: zhanglingxiao@nbd.com.cn