Gree Group is a high-profile large-scale enterprise, which has attracted widespread attention due to the arrival of a new head in recent days. Dong Mingzhu has also become a topic of conversation among everyone, and people have speculated about her whereabouts. However, the relationship between Dong Mingzhu and Gree Group is not as close as imagined. To understand the complex relationship between Gree Group, Gree Electric Appliances and Gree Real Estate, it is necessary to travel through history and explore the origins between them. This article will deeply interpret the past and present lives of the three companies of Gree, and reveal the different meanings of Gree Group ushering in a new leader.
The predecessor of Gree Group can be traced back to 1985, when it was established as an industrial development company and the first state-owned enterprise in Zhuhai. In 1991, Gree Group merged its plastic company and air conditioner factory to create a new air conditioner factory, which later became known as Gree Electric Appliances. From the very beginning, Gree Group has laid the cornerstone for its future glory. At that time, Gree Electric was not directly helmed by Dong Mingzhu, but led by Zhu Jianghong, the director of the factory at that time, and Dong Mingzhu was only a sales area manager.
Expanding: The establishment of Gree Group can be said to be a time of turmoil, which is the pioneering move of Zhuhai state-owned enterprises. In 1985, on the fertile soil of entrepreneurship, Gree Group quietly sprouted and began its journey of unimpeded business. When the merger storm in 1991 hit, Gree Group ushered in new opportunities and gave birth to the later Gree Electric Appliances. Zhu Jianghong, as the director of the factory at that time, led the company to a better situation, while Dong Mingzhu shined in the sales field and helped the rise of Gree Electric Appliances.
In 1996, Gree Electric was successfully listed on the Shenzhen Stock Exchange, achieving an important leap. Subsequently, Gree Electric began to accelerate the pace of mergers and acquisitions and build a layout of the whole industrial chain. Over time, Dong Mingzhu began to serve as the general manager of Gree Electric in 2001. However, it was not these that really changed the fate of Gree Electric, but a reform in 2019. Zhuhai City decided to reform Gree Electric Appliances and transfer the shares held by Gree Electric to Hillhouse Capital and Zhuhai Mingjun, resulting in the transformation of Gree Electric Appliances from a state-owned enterprise to a private enterprise. This decision completely severed the connection between Dong Mingzhu and Gree Group, making Dong Mingzhu an independent helmsman of Gree Electric Appliances.
Expansion: The listing of Gree Electric Appliances marks its official entry into the capital market and a new leap. The successive industrial mergers and acquisitions have accelerated the construction of the whole industrial chain of Gree Electric Appliances and achieved a broader development space. The reform storm in 2019 has completely changed the corporate attributes of Gree Electric, and since then it has set sail and independently explored the infinite possibilities of the business world. This important process has not only witnessed the rise of Gree Electric, but also witnessed Dong Mingzhu's extraordinary courage and wisdom as a business leader.
In addition to Gree Electric Appliances, Gree Group also covers the important sector of Gree Real Estate. The history of Gree Real Estate can be traced back to 2008, when through asset restructuring, Gree Real Estate cooperated with Xi'an Haixing Technology, a listed company, and finally successfully achieved listing. Although Gree Real Estate has shown strong vitality in the capital market, Gree Group is still its largest controlling shareholder. However, in 2014, an equity transfer transferred the equity of Gree Real Estate to Zhuhai Investment, although the parent company changed, Gree Real Estate still maintained the attributes of a state-owned enterprise, watching the development of Gree Group.
Expansion: As another important industry of Gree Group, Gree Real Estate has a legendary development history. The asset restructuring in 2008 opened the door to listing for Gree Real Estate and realized a broader development vision. But even so, Gree Real Estate's fluttering in the capital market cannot hide the support and firmness of its parent company, Gree Group. The scene of equity transfer in 2014 highlights the firm position of Gree Real Estate as a state-owned enterprise, adds new development elements to Gree Group, and continues to write a new chapter in the development of the enterprise.
As a well-known enterprise in China, Gree Group has a complex internal structure and a unique development model with a three-legged pattern. Dong Mingzhu, as a representative of Gree Electric Appliances, has brought the company to a new height through years of hard work and wisdom. However, the change of leadership of Gree Group, and the cutting from Gree Electric Appliances does not mean that Dong Mingzhu has left, as the head of Gree Electric Appliances, she still adheres to her mission. The future development of Gree Group will explore a broader development path under the leadership of the new leader Kang Hong. Although there is a connection between the three, they perform their own duties and write a new chapter in the development of the enterprise.