On February 19, the news of the change of leadership of Gree Group quickly occupied the top of the hot search list and attracted widespread attention. However, this personnel change did not affect the daily operation of Gree Electric, and its helmsman, Dong Mingzhu, still stuck to his post and led the development of the air conditioning giant with an annual revenue of more than 200 billion yuan.
According to public reports, Kang Hong, the new Secretary of the Party Committee and Chairman of Gree Group, is a native of Sichuan born in 1976, with rich work experience, and was the deputy secretary-general of the Zhuhai Municipal People's Government. This personnel adjustment is regarded as a normal organizational arrangement, and the industry generally believes that this change will not have a material impact on the operation of Gree Electric.
Looking back on history, Gree Group and Gree Electric Appliances have had a "father-son dispute" in the past. However, with the completion of the mixed ownership reform of Gree Electric Appliances, its shareholding structure has undergone significant changes, and the shareholding ratio of Gree Group in Gree Electric Appliances has dropped to the current 344%。The change of leadership of Gree Group highlights the trend of Gree Electric Appliances from state-owned holdings to non-controlling shareholders and actual controllers.
Despite this, under the leadership of Dong Mingzhu, Gree Electric still shows a strong momentum of development. In 2023, Gree Electric expects its total operating income to reach 205 billion yuan to 210 billion yuan, and its net profit is expected to be 27 billion yuan to 29.3 billion yuan. At this year's 10,000-person party, Dong Mingzhu announced that Gree Electric's performance reached a new high last year, and plans to achieve the grand goal of doubling its performance in the next five years.
As a state-owned enterprise in Zhuhai, Gree Group has total assets of more than 113.2 billion yuan and total owner's equity of more than 48.3 billion yuan. Although its shareholding in Gree Electric is not high, it is still one of the important shareholders of Gree Electric Appliances. After the change of leadership, how Gree Group and Gree Electric Appliances continue to deepen cooperation and achieve common development is worth looking forward to by the market.
As of the morning of February 19, the share price of Gree Electric Appliances was **158%, with a market value of 206.7 billion yuan. And the Gree Group holds 344% equity, corresponding to a market capitalization of about 71100 million yuan. This figure not only reflects the strong attractiveness of Gree Electric in the market, but also reflects the value of Gree Group as a significant shareholder.
In general, the change of leadership of Gree Group is a normal need for organizational development, and Gree Electric Appliances, under the leadership of Dong Mingzhu, will continue to move steadily along the path of transformation of a diversified and technology-based global industrial group.