Author: Guan Buyu.
You can eat indiscriminately, but you can't talk nonsense.
Dong Mingzhu really wants to change his bad habit of making violent comments when he is in a bad mood. The latest "proposed legislation to charge training fees for employees to change jobs" has frightened workers.
Everyone knows that because of Meng Yutong's solo flight, Mr. Dong has been difficult to calm down for a long time. This legislative proposal to deal with job-hopping can be regarded as another supplement. However, this should not be the topic that Dong Mingzhu should worry about the most at the moment.
01 Gree's stock price dived, and the bane was Yinlong.
On December 19, the dust settled on the share transfer agreement for Gree's acquisition of Gree Titanium, and the total 2454% of Gree Titanium shares, the transaction price is about 101.5 billion yuan. The list is not big, and the movement is not small.
On December 20, after the opening of A-shares, the share price of Gree Electric Appliances dived, and the stock price continued to fall in the afternoon, falling by more than 7%, and the total market value fell to 174.9 billion yuan, less than half of the "old friend" Midea Group.
The ups and downs of the stock price may not be a big deal for Dong Mingzhu, who is accustomed to strong winds and waves, and it will not have much impact on Gree's operation. However, when it comes to Gree Titanium, the properties are a little different. Gree Titanium is the Zhuhai Yinlong who "took away Miss Dong's 2.6 billion".
The acquisition of Zhuhai Yinlong is the biggest stain on Dong Mingzhu's business career, and Gree Group has bought orders for several years for this wrong decision, and shareholders and even Gree employees are "uneasy".
Zhuhai Yinlong New Energy was established in 2008. The manufacture of lithium titanate batteries started, and the tuyere of new energy vehicles flew a wave, claiming to be "one of the few comprehensive new energy industry groups in China that has formed a closed cycle industrial chain from lithium battery materials, lithium batteries, module pack powertrains, new energy vehicles, energy storage system equipment to power battery cascade utilization".
I don't know if Mr. Dong can understand so many terms, but I can't understand it anyway. Whether you can understand or not does not prevent Mr. Dong from being optimistic about Zhuhai Yinlong, or the kind of love at first sight and "if she doesn't marry" type of optimism.
At an entrepreneur forum in 2015, Wei Yincang, the head of Zhuhai Yinlong, got acquainted with Dong Mingzhu. It is said that Wei Yincang took the initiative to talk to Dong Mingzhu, but Dong Mingzhu did not show much enthusiasm at first. This should be true, after all, with Dong Mingzhu's status in the rivers and lakes, there are too many people who worship the dock and hug their thighs, and they are not enthusiastic.
However, after a few words, Dong Mingzhu's attitude changed 180 degrees, from not very enthusiastic to full of interest, and soon proposed to the board of directors a plan to acquire 100% of Yinlong's shares for 13 billion yuan. This matter has almost reached the stage of the door, and Gree even suspended trading for this.
What magic does Wei Yincang have that can make "Miss Dong", who is known as the "Iron Lady" in the rivers and lakes, fall in love at first sight?Probably because of the similar smell.
Wei Yincang's starting point is not high, starting as an auto mechanic, and his inspirational grassroots growth trajectory is similar to that of Dong Mingzhu, who was born in sales.
Mr. Wei is also a businessman who particularly emphasizes the feelings of the family and the country, and it is said that he was not used to seeing foreigners monopolizing power battery technology, and angrily smashed 300 million US dollars to buy back the advanced technology of lithium titanate batteries from the United States.
However, this "advanced technology" worth 300 million US dollars is a hot potato. Lithium titanate batteries are too large to fit into small passenger cars. Fortunately, Wei Yincang's "feelings for his family and country" received a return for his favor. Small buses can't be installed, but large buses can. As a result, subsidies and bus orders have become the selling points of Yinlong to attract investment.
The largest subsidy that Mr. Wei has received is 11.2 billion yuan for scientific research projects. Wei Yincang was not ambiguous in receiving the money, and the funds were arranged clearly before they arrived - they were transferred out in the name of purchasing goods in two times and successfully cashed out.
Mr. Wei is not only good at cashing out, but also good at "cashing". His usual way of operation is to resell patents, turn his left hand into his right hand, and the funds will be transferred from ** pocket to Yinlong's pocket, and then poured into his own pocket.
In 2014, Wei Yincang did a big vote, and in the name of the company, the accounts on the 49.9 billion was transferred to Shenzhen Geyin Company, and the legal person of Yingge was Wei Yincang's ***
After this bold and careful reversal, Yinlong is a loss only with advanced technology and a large amount of investment in scientific and technological research and development, and it is time to find a pick-up man. The meeting between Mr. Wei and Dong Mingzhu in 2015 was the "love at first sight" of Jinfeng Yulu - with a gold content of 13 billion.
However, because Yinlong's deeds are too amazing, the board of directors of Gree, which has always been the only Dong Mingzhu, has rarely expressed a small disagreement, and the plan to acquire 100% of Yinlong's shares for 13 billion yuan has been stranded. The board of directors did not cooperate, and it did not stop Dong Mingzhu's dream of building a car.
13 billion didn't work out, 2.6 billion came. Dong Mingzhu, who was difficult to settle, contributed 1 billion in his personal name, and then took out 1.6 billion assets for equity pledge, totaling 2.6 billion, and bought Yinlong 1746% of the shares.
Miss Dong's heart and action have driven her circle of friends, Liu Qiangdong, Wang Jianlin and even the mysterious "Shaanxi Coal System" have followed up, in addition to CIMC 200 million.
Anyway, Dong Mingzhu single-handedly built Zhuhai Yinlong into the most dazzling pearl of the "car-making fever". If Zhuhai Yinlong can succeed, it will definitely be another peak legend of Miss Dong.
02 Zhuhai Yinlong transformed into Gree Titanium.
However, the legend of Zhuhai Yinlong is destined not to belong to Dong Mingzhu, but to Wei Yincang, and it is the legend of "Wei Yincang took Dong Mingzhu 2.6 billion yuan".
At the end of 2016, Dong Mingzhu and her circle of friends officially completed the acquisition of Yinlong. Dong Mingzhu soon found out that he had made a mistake after all, and this uneasy impulse was Mingzhu's Waterloo.
Dong Mingzhu's personal aura can give Yinlong a blood transfusion, but it can't change the trend of Yinlong's free fall. Even the two-way rush of this dry wood fire accelerated Yinlong's fall.
Yinlong's main problems are twofold:
First, the technical route is wrong and there is no room for growth. With the rapid rise of Ningde and BYD, the power battery market pattern has been determined, and Yinlong's main lithium titanate battery has never become the mainstream, and later it has been marginalized. With annual sales of less than 2,000 electric buses, the company's goal of "selling 30,000 units a year" is a joke. Second, the outbreak of "historical old accounts" has paid huge liquidation costs. After the strong new shareholders settled in, the thousand-year-old demon encountered the Iron Lady, and the battle for control of the company broke out. The new account brings out the old account, and the paper can't hold the fire. Yinlong's bad news continued, arrears of wages, debts, and lost lawsuits were executed, and Wei Yincang's "financial operations" of rat moving for many years soon happened. In 2018, Wei Yincang fled abroad and took away 1 billion cash - this should be Dong Mingzhu's money. Only the general manager Sun Guohua was left messy and imprisoned. The era of Zhuhai silver beads came to an end, and the era of Gree titanium began.
In August 2021, Gree Electric contributed 182.8 billion yuan won the bid for Yinlong 3047% equity.
At the same time, Dong Mingzhu, chairman of Gree Electric Appliances, holds Yinlong 17The voting rights corresponding to 46% of the equity are entrusted to Gree Electric Appliances. So far, Gree Electric has Yinlong 47With 93% of the voting rights, Yinlong has also become a holding subsidiary of Gree Electric Appliances. In November of the same year, Yinlong officially changed its name to "Gree Titanium".
03 Gree is sinking deeper and deeper.
Gree took over Yinlong's thousands of explanations, but none of them could change the outside world's perception - Gree paid for Dong Mingzhu's decision-making mistakes.
said that the personal name and personal contribution were good, how did it become Gree's appearance to deal with the aftermath?
What's even more intriguing is that Gree smashed 1.8 billion yuan into Yinlong's funds in August, and the relationship between Gree's employee stock ownership plan was launched in December. Even if Gree claims to have 150 billion cash reserves, the cash of 1.8 billion yuan still has to be settled.
In December of the same year, Gree transferred 4633450,000 shares were transferred to the special account of "Zhuhai Gree Electric Appliance Co., Ltd. *** Phase I Employee Stock Ownership Plan", and the employee stock ownership plan purchased the company's repurchased shares of 2768 yuan shares, the total purchase amount is 11400 million yuan.
At that time, Gree's stock price was more than 50 yuan, which can be understood in good faith as Gree's change of the object of ** pledge and cashing out from the bank to its own employees. This also means that the risk of the stock price** is also borne by the employees. At the end of the year, the more than one billion cash returned from the employee stock ownership was a timely filling of the 1.8 billion cash hole that took over Yinlong.
With this set of smooth operations, Gree has had a good year. However, bills can be deferred, and they will be paid eventually.
After changing its name to Gree Titanium in 2021, the company's operation has not improved much.
Building a car is a bottomless pit, and 18 billion yuan of cash is filled into it, and it can't even make a splash. Greti's last hope to solve the cash hunger is to go public. However, in May 2018, Yinlong interrupted the IPO road, and Greti failed to continue.
With the current situation, there is no hope. Therefore, on December 19, Gree sold 1 billion again, which is expected.
This time it was to help Miss Dong's circle of friends untie the set, and Gree's 10000000000000000 took over the equity of Liu Qiangdong, Wang Jianlin, and "Shaanxi Coal Department". Miss Dong is angry, and it is Gree who pays for it.
In addition, at the end of November, Gree ended the employee stock ownership plan ahead of schedule, and Gree employees avoided this round**.
Is this a fluke, or is Gree's top management predicting that there will be such a catastrophe?After all, since he and Yinlong**, every time news related to Yinlong comes out, Gree's stock price will go down, and the law is obvious. To a certain extent, Gree's shareholders have also bought orders for several years for Dong Mingzhu's "difficult to peace".
I hope that this is the last time that Gree Group, Gree employees, and Gree shareholders will pay for Yinlong.
04 The legislative issue is not a gas barrel.
The cost of Yinlong's mess is billions, which is really not comparable to the employee training expenses that Miss Dong is worried about.
According to Ms. Dong's idea of "governing you according to law", should the law prohibit the capricious cost of the head of the enterprise from being passed on to employees and shareholders?
Therefore, it is understandable to be in a bad mood, but it is not okay to be in a bad mood and go violent. As a business owner, instead of accusing employees of the "crime" of changing jobs, we should reflect on our own shortcomings in business management. It's normal for you to be angry because your employees who are so important will abandon you, and it is too much to use such a major topic as legislation as a gas bucket.
In short, employees have the freedom to change jobs, the boss has the responsibility to operate, and for the enterprise, the boss's due diligence is the basis of employee loyalty. If it weren't for the turmoil of the Yinlong Rebellion for a few years, maybe Xiao Meng would still be busy in front of Dong Mingzhu's saddle, saying "It's a kind of enjoyment to see you in meetings".