Following 8 years ago, Dong Mingzhu angrily sprayed shareholders "unthanksgiving", and yesterday she scolded all the shareholders who bought Gree ** at the Gree annual meeting, declaring that Gree does not care about the stock price "We don't rely on the stock price to survive", if the shareholders really have confidence in Gree, they should hold it for a long time.
Five days ago, the state just included the market value in the assessment scope of central enterprises. Dong Mingzhu said that "we don't survive on stock prices", so as a listed company, who is Gree making money for? What does Gree, which abandons stockholders, rely on to maintain a high market capitalization?
Dong Mingzhu did not answer these questions positively, but only revealed a figure: Gree's tax payment in 2023 will hit a new high of 17.6 billion, and it is hoped that the tax payment in 2024 will exceed 20 billion.
Seeing this, I suddenly realized: paying taxes is Dong Mingzhu's "core technology".
With this "core technology", no matter how much criticism there is from the outside world, Dong Mingzhu can stand tall.
In her eyes, shareholders are just a group of "stinky food" who can be sacrificed at any time.
For so many years, because of his willfulness, how many projects Dong Mingzhu has done is obvious to all shareholders.
For example, in 2016, she insisted on investing in Yinlong Bus despite the opposition of shareholders.
Not only did Gree lose dozens of "small goals", but she also lost hundreds of millions of pensions, making a lose-lose ending.
There is nothing wrong with Gree's investment in new energy. The problem is that there are so many high-quality new energy vehicle companies on the market, and Dong Mingzhu has taken a fancy to Yinlong Bus, which has chaotic management and backward technology.
Dong Mingzhu said that "Yinlong's technology is better than Tesla's, and it fills a bus in ten minutes", which scared Musk from falling asleep for several nights. Yinlong does fill a bus in 10 minutes, but it can only run 10 kilometers when it is full.
The shareholders kindly persuaded her not to vote, but she in turn scolded the shareholders for being "ungrateful".
This arrogance has cost Gree dearly. In addition to the relatively smooth operation of Yinlong bus in Zhuhai, few foreign users buy, a year of sales of more than 1,000 vehicles. Yinlong's valuation also fell from 13.4 billion to 4.1 billion, a floating loss of 70%.
Dong Mingzhu threw Yinlong's "pot" to the founder Wei Yincang, and condemned him for hiding the true situation of the company from Gree at the time of the acquisition.
Wei Yincang is slippery, he made 2.6 billion in this acquisition, and when he saw that the situation was not right, he immediately smeared oil on the soles of his feet, went to the United States, and left Miss Dong alone in China to scold his mother.
Even more bizarre is the Gree mobile phone.
Dong Mingzhu has built a mobile phone for 10 years and updated it for 6 generations, but he has never seen it on the market, and no one has bought it!
In 2014, Dong Mingzhu suddenly announced that Gree would enter the mobile phone industry and set up a R&D team of about 200 people in Zhuhai.
At the shareholders' meeting, some shareholders persuaded her: Smartphones have been killed into a "sea of blood", Gree can't take advantage of it, and it is better to build air conditioners than anything else.
Netizens and ** are not optimistic about Gree's mobile phone, and there are great doubts on the Internet.
The more this is the case, the stronger Dong Mingzhu's rebellious psychology will be - everyone is not optimistic that Gree can make a good mobile phone, right? I'm biased.
In 2015, the Gree mobile phone generation was launched, and the boot screen was Dong Mingzhu's, which shocked the whole network. Between sales and traffic, Gree mobile phone chose the highest traffic play.
Later, the phone, which had never been sold in public channels, was given as a reward to Gree employees for their outstanding performance.
Even though the sales volume is 0, for the sake of face, Dong Mingzhu still raised the mobile phone team for 10 years, and continued to maintain her fantasy of "destroying Xiaomi in three years, Gree mobile phone is the first in the world".
This year, Dong Mingzhu, who is nearly 70 years old, is becoming more and more self-conscious, no longer listening to anyone's opinions, and appointing Wang Ziru, who has no experience, as Gree's executive.
Wang Ziru, a small Internet celebrity who does mobile phone reviews, how much does he know about Gree? Unexpectedly, with the support of Dong Mingzhu, he served as the person in charge of Gree's channel reform.
Many people may not know how much oil and water channel reform is.
Gree is an enterprise that relies on channel providers to develop. Zhu Jianghong, the founder of Gree, has set up a sales system with the interests of channel providers, allowing Gree to open stores across the country and occupy the market at a very low cost.
Every year, channel providers can share Gree's billions or even tens of billions of profits.
After Wang Ziru joined the company, the system, which had been running for nearly 30 years, came to an end. Dong Mingzhu asked him to build an ordering platform, so that small and medium-sized channel merchants can bypass large channel merchants and order directly from Gree.
So, will the profits that originally belonged to the big channel providers flow to? Who will be the biggest beneficiary?
Not a shareholder anyway.
In 2012, Zhujiang City talked to Zhu Jianghong, the founder of Gree, hoping that he would take the initiative to step down and give up the position of chairman to Dong Mingzhu.
67-year-old Zhu Jianghong said: There is no problem with retirement. However, Dong Mingzhu is already the general manager of Gree, and then concurrently serves as the chairman, I am afraid that it does not meet the regulations of listed companies.
The city replied: I have talked to Dong Mingzhu, she agreed, so let's do it.
Zhu Jianghong's retirement made Dong Mingzhu clear: who has the most say in Gree.
Is it a shareholder? Perhaps, but not exactly.
Author: Jiang Zuo Youan.