Our reporter Jia Li
Since the completion of the mixing and dust reform, Gree's future trends and the existing high-level developments have always attracted much attention from the outside world.
A few days ago, Dong Mingzhu, chairman and president of Gree Electric, made a high-profile appearance at the 2019 “Let the World Fall in Love with China Made” summit forum held at Gree headquarters, talked about mixed reforms, and angered Oaks, provoked a price war, and delayed mixed management Change and other external questions one by one to respond.
Gree Electric insiders revealed to the Securities Daily: "After the new shareholders entered, after a series of adjustments, Gree's original four business segments of air conditioning, household appliances, communications and smart equipment have been merged into two major sectors, consumer and industrial. Among them, communication has weakened, and the status of smart homes and high-end equipment has been further enhanced. ”It is understood that the adjustment of related architecture and business is still ongoing, and it is expected to be initially completed by the end of this year. Gree will continue to adhere to the main theme of diversification. .
Dong Mingzhu said: "The focus of this Gree transfer of control is not on the withdrawal of state-owned assets, but on the establishment of market-oriented systems by listed companies to better operate and develop." Speaking of acquisitions, she said: "Acquisitions are rapid development But what I need is not simply acquisition and marketing growth of tens of billions of yuan. What I want more is to cultivate a complete and sustainable R & D team. "
Will be more market-oriented and public
On December 2, Gree Electric announced that Gree Group and Zhuhai Mingjun formally signed an "Equity Transfer Agreement." The total transfer amount was RMB 41.662 billion, accounting for 15% of Gree's total share capital. Gaofeng Capital behind Zhuhai Mingjun officially entered the game and became the largest shareholder of Gree Electric.
The announcement showed that Gree's management accounted for 11.1% of Zhuhai Mingjun's total subscribed capital and had one-third of decision-making power. In addition, after the completion of the transaction, the company will promote the equity incentive plan for listed companies at the level of listed companies that gives management entities and key employees a total of 4% of listed company shares. Some in the industry believe that the management of Gree Electric Appliances is the biggest beneficiary.
Regarding the process of equity transfer, Dong Mingzhu said: "(Gree) has no difficulty in negotiating with Gaofeng Capital. The Gree management team has never changed because of the existence of equity incentives for decades. It has only one mind, which is to make Gree Electric bigger. Be stronger. "Speaking of Gao Feng Capital, she said that the management was not dissatisfied with the mixed reform. "The local SASAC transfers shares. I think it is considered from a higher strategy. I hope that the listed company will become a truly public company."
She has repeatedly emphasized that the current Gree hybrid reform is more to promote listed companies to have a truly market-oriented behavior or system, so that listed companies can better operate and develop.
After throwing out the goal of "600 billion yuan sales target by 2023" last year, Gree continued to make efforts on its performance. This year, it has started to open multiple rounds of air-conditioning product price reduction subsidies, which has also attracted outside discussion. In this regard, Dong Mingzhu said, "The subsidy is not purely to boost sales, because there is a market for bad coins driving good coins. If no one dares to stand up to challenge, high-quality development will not know when it will appear. Therefore, it is necessary to Further promote the correction of false or shoddy products. "
Internal adjustments will continue
After a series of adjustments, Gree's business segment has also been reshaped.
Although Gree's industry currently covers the four major areas of HVAC, domestic appliances, high-end equipment, and communications equipment, the layout of the sector has been further consolidated this year.
This time, Gree Electric put forward the "Internet of Everything" strategy, and for the first time showed a complete set of intelligent connected appliances controlled by intelligent voice. At the same time, Gree Electric has released several technologies in the industrial field, including "high-efficiency reluctance variable-frequency scroll compressor technology" and "renewable energy-free rare-earth magnetoresistive main drive motor systems for new energy buses", which involve the application of new energy vehicles.
Dong Mingzhu said that Gree's two sectors are already clear, namely the consumer sector and the industrial sector. There is no conflict between the two sections. "At present, Gree's home air conditioners have accounted for more than 20% of the global market. In the future, I hope that the equipment can also achieve 20%, but it takes time to settle."