Author: Sister Rong Dayi
At the beginning of last month, several media talked about the term of office of the chairman of a listed company, speculating that Gree Electric’s Dong era will come to an end when Dong Mingzhu’s term of office expires in May next year.
Miss Dong will certainly not let go of these nonsense. Gree’s official number specially sent a lawyer’s letter, saying that some Internet media headline parties maliciously speculated that the company’s share price and normal business activities were affected. Dong Mingzhu also responded personally,
"It is wrong to comment on a company and it is harmful to the company."
I don’t know if it hurts the enterprise, but it is certain that it hurts Miss Dong. Dong Mingzhu has worked in Gree for more than 20 years. For most people, Gree is Dong Mingzhu’s, and Dong Mingzhu is Gree’s. Gree and Dong Mingzhu can be equated. Sister Dong herself once said that there is nothing wrong with this.
Some shareholders have asked Dong Mingzhu about his re-election and his successor. Dong Mingzhu said that Gree Electric will not retire until it reaches 200 billion yuan. If he wants to retire, he must find a suitable successor, and the successor he is looking for must be a second Dong Mingzhu.
At the shareholders’ meeting in Gree Electric in May this year, Dong Mingzhu responded domineering, "If I leave, will you agree?"? It is best not to discuss this issue in the next five years. " And very confident that "you don’t want to let me go, don’t ask this question."
A year ago, at the shareholders’ meeting that voted for Gree’s acquisition of Yinlong New Energy, Gree’s shareholders didn’t applaud Dong Mingzhu for the first time. Sister Dong made a fuss on the spot, scaring shareholders: What can you do if I don’t pay you dividends for five years? Scaring didn’t work. In the end, the acquisition that Dong Jie was very keen on was rejected in an atmosphere where both sides were not happy.
Not long after, the position of chairman of Dong Mingzhu Gree Group was quietly removed. Without the position of chairman of the group, it is equivalent to losing the right to speak of the largest shareholder at the board meeting in Gree Electric. Dong Mingzhu took his own money All In Yinlong, and of course Wang Jianlin also gave a small investment of 500 million yuan.
It seems that from that time on, there was a puzzling force that blocked the tie between Dong Mingzhu and Gree Electric. Zhu Jianghong, the former chairman of Gree Electric, who has been unknown for many years, suddenly published a book called "My 24 Years in Charge of Gree".
Not only did the title of the book actually smash people’s impression that "Dong Mingzhu made Gree", but in the book, Zhu Jianghong also specifically refuted "Without Dong Mingzhu, there would be no Gree", saying that this sentence is probably debatable, and it is not the credit of one person that the enterprise has done well.
If other people say so, I’m afraid Dong Mingzhu will go back at once, but Zhu Jianghong is Dong Mingzhu’s old superior. Two people have worked together for more than 20 years, and they are grateful to her. Sister Dong has a bad temper and can only hold her breath.
Later, however, because someone interpreted the book and exposed the bad blood between Zhu Jianghong and Dong Mingzhu, Zhu Jianghong cancelled the meeting with the old employees after the book was signed, in order to quell the confused speculation. The old partners gave each other face.
01
Zhu Jianghong came from a technical background. After graduating from South China University of Technology, he worked in Guangxi for a period of time. Soon after returning to Zhuhai, he took over Gree Air Conditioning Factory, which was still a mess.
Gree air-conditioning can quickly occupy a place in the home appliance war in the 1990s. Dong Mingzhu dared to turn against Huang Guangyu and scold Zhang Jindong, including today’s propaganda of "Gree mastering the core technology", all of which are related to the foundation laid by the Zhu Jianghong era.
However, after working in Gree for more than 20 years, Gree’s fame is getting louder and louder, but Zhu Jianghong himself has always kept a low profile as if he didn’t exist.
On the one hand, it may be that Mr. Zhu’s "upright character" doesn’t like to promote himself, on the other hand, it is mainly that Gree Electric has never got rid of the status of a state-owned enterprise. In the era of Zhu Jianghong, the state-owned assets supervision and administration commission of Zhuhai, the major shareholder, was the absolute controlling shareholder, and his cadre status was far greater than that of an entrepreneur. This also caused Zhu Jianghong to be uncomfortable with major shareholders for a long time.
Before Gree Electric went public in the mid-1990s, he patted the table several times with the chairman of the group and his immediate boss. Later, Gree Electric became stronger and stronger, and his relationship with the group leaders was even more tense.
In 2003, because of the trademark authorization, the two sides fell out and wrote articles to undermine each other in the media. After several rounds of diss, no one took advantage of it, and the two sides were completely torn. It was a man named Zhong Dajun who wrote an article suggesting that Zhu Jianghong was a Chu Shijian-style figure.
This accusation is very vicious. In 1998, Chu Shijian was sentenced in bribery and corruption crimes for allegedly embezzling state-owned assets. After that, the reform of state-owned enterprises started, and hundreds of millions of eyes all over the country focused on the loss of state-owned assets. And almost at the same time, Gu Chujun of Kelon fell into prison, and the initial fuse was an article by Lang Xianping.
Therefore, when Zhong Dajun’s articles came out, the big and small media followed suit crazily. When Zhu Jianghong collapsed the most, he could see dozens of articles attacking him every day. Xu Rong, the then chairman of Gree Group, worked as a reporter and saved a lot of resources in the media circle, but he didn’t help Zhu Jianghong out. The aftermath of this incident didn’t completely subside until Zhu Jianghong defeated Zhong Dajun in court.
This Zhong Dajun had no sound after that, until this summer, he molested a girl on the Beijing subway and was filmed and reported to the police station.
When Zhu Jianghong was 59 years old, he was asked to talk to someone to prepare him for retirement. But by this time, the situation has changed. The year before last, Gree Electric launched the share-trading scheme, and the state-owned assets supervision and administration commission (SASAC), the major shareholder, has lost its absolute controlling stake. Several major fund companies have explicitly requested Zhuhai SASAC that if the management team headed by Zhu Jianghong is replaced, they will no longer hold Gree shares.
Who would have thought that party member, an old communist waiting to retire, was finally pushed to the stage by the power of capital for several years. After that, Zhu Jianghong not only stayed in office, but also served as the chairman of the group, which solved the so-called "father-son dispute" for many years.
With the insistence of the fund company, followed by Gree Electric’s equity incentive, the power of Zhuhai SASAC, the original major shareholder, gradually declined in several rounds of reform. In 12 years, Zhu Jianghong retired and Dong Mingzhu took over. Although she still wore the hat of a state-owned enterprise, Dong Jie also complained from time to time about the major shareholders, but on the whole, life in Gree Electric was much better.
Gree beat most of the home appliance rivals, and it was inseparable from the good cooperation between Zhu Dong and Zhu Dong. Although Zhu Jianghong was immersed in technology, he was very generous to the sales department in the early days. At that time, the salary of many front-line salesmen was twenty or thirty times that of him, and he didn’t mind. In the early 1990s, the telephone was still a rarity. The only cell phone in the factory was always in the sales department, and the only car was transferred to the sales department for use. Zhu Jianghong walked to and from work by himself.
At that time in the 1980s and 1990s, the status of salespeople was relatively high as a whole, and those who could make money by profiteering were great people. Pan Shiyi, Feng Lun, Wang Shi and Ren Zhiqiang, the first thing they did when they went to sea was "selling things". Duan Yongping, a bully, is also famous for his fierce sales. Later, he talked to the company about the conditions and wanted the equity, but he simply walked away and made a step by step.
In this case, Zhu Jianghong tried to reform in 1995, but it was a hornet’s nest. The sales department was dissatisfied with the decrease in income under the new system and almost all of them left overnight. In an emergency, Zhu Jianghong transferred Dong Mingzhu to Zhuhai to take charge of the operation department.
In Zhu Jianghong’s view, it was his discerning eye that provided a platform for Dong Mingzhu. But Dong Mingzhu was happy as a salesman at that time. In her heyday, her sales alone accounted for one-sixth of the company, earning millions a year. When she returned to Zhuhai as a place-level cadre, her salary was only 100,000 yuan, which was not as free as a salesman. In her autobiography, she said that she didn’t want to go back to Zhuhai at all, and finally reluctantly agreed, only "considering the overall development needs of the company."
So in Dong Mingzhu’s view, she was ordered to help Zhu Jianghong clean up the mess.
Therefore, shortly after her arrival, she took the knife from the person Zhu Jianghong brought from Guangxi, determined to get rid of nepotism in the company, and then asked Zhu Jianghong for financial rights, all of which were justified. Zhu Dong and Zhu Dong are both stubborn people, and Dong Mingzhu is competitive. Plus, after she became the general manager of Gree Electric, she made more publicity than Zhu Jianghong, so there was speculation that they were not in harmony at an early stage.
This speculation didn’t come to light until Zhu Jianghong retired in 12 years. Some media reported that Zhu Jianghong had just retired for more than a month and went to Beijing to attend the award ceremony of the Household Electrical Appliances Association. He took a taxi from the airport alone. Gree has a branch in Beijing, but it has never appeared from beginning to end. As soon as the old leader went down, it’s still rare for people to take a cool tea.
According to a report in Time Weekly, after Zhu Jianghong retired, Dong Mingzhu was eager to make a show of himself, replacing almost all the photos of Zhu Jianghong in the exhibition hall on the first floor of Gree headquarters, and deliberately weakening Zhu Jianghong’s influence on Gree internally.
Zhu Jianghong once said before his retirement that he could still work if the organization needed him. When he was interviewed by Caixin after his retirement, he felt that "every courtier once lived in heaven". Zhu Jianghong can’t just blame the apathy of the world. On the question of "Do you want to have a little personality cult", he really didn’t understand as Dong Mingzhu thought.
As early as the summer of 2003, the TV series "No regrets in playing chess" based on Dong Mingzhu’s autobiography was broadcast in the prime-time file of 8 sets in the Central Committee. The production of this drama is very painstaking. The production team is experienced and experienced, playing Dong Mingzhu’s actress. In the 1990s, Zuo Ling won the Flying Award for Best Actress for starring in the TV series "The Pearl River".
Dong Mingzhu’s autobiography was originally based on her personal experience, telling how she went from a single mother to a corporate executive step by step through the experience of a salesman. When it was adapted into a TV series, the producers, the Propaganda Department of Zhuhai Municipal Committee and CCTV Film and Television Center, enlarged the theme from the change of personal destiny to the reform of state-owned enterprises under the background of special economic zones. With this change, Dong Mingzhu in the play became a typical example of Zhuhai’s state-owned enterprise reform.
Before and after the TV series was broadcast, this book was placed on the counters of many Gree dealers. Since then, Dong Mingzhu and Gree have been tied together. Gree Air Conditioning withdrew from Gome Store because Dong Mingzhu was facing Wong Kwong Yu in front of the stage. In 2006, CCTV selected the economic figures of the year, and Dong Mingzhu was elected as the general manager of Gree Electric. At the awarding ceremony, she told the host that if her TV series made a sequel, the name would be Gree My Pride.
It can be said that in the era of Zhu Jianghong, when people mentioned Gree, they already knew only Dong Mingzhu.
After becoming the chairman of Gree Group in 12 years, Dong Mingzhu and Gree became more closely bound. In addition to being more active than all private entrepreneurs in public for the corporate brand platform, Gree Air Conditioning, sub-brands Dasong and Jinghong Refrigerator are also personally endorsed by Dong Mingzhu. In the last two years, the newly listed Gree mobile phone even has a Dong Mingzhu on its boot screen. All the schools sponsored by Gree Electric named their teaching buildings after Dong Mingzhu.
Dong Mingzhu has never been unkind to the grass-roots employees. She and Liu Qiangdong are the outstanding representatives who care about the people in need. Green built two phases of Kangle Park for employees in his early years, and last year it was a stroke of a pen to let every employee live in two rooms and one living room.
With such a good leader, Gree departments at all levels have launched a horsepower publicity campaign to completely bind the image of Dong Mingzhu with Gree’s brand.
So today, Gree gave Dong Mingzhu less than 1% of the shares, but in the media, it is already named Dong.
02
After Zhu Jianghong retired in 12 years, Zhou Shaoqiang, as a young cadre with thousands of choices, was appointed as the group president and party secretary by Zhuhai SASAC. After the shareholders’ meeting, he entered the board of directors of Gree Electric and formed a new partner with Dong Mingzhu.
Gree Electric’s management was not satisfied with the practice of pushing people in without asking, and even refused to do face-saving projects, and remained completely silent about the candidate. It is said that there was a reverse canvassing before the shareholders’ meeting, and several fund companies that participated in the election also "contacted" the top management of Gree Electric before the meeting, so Zhou Shaoqiang knew in advance that there was no chance, so he simply didn’t participate.
Zhou Shaoqiang’s bad luck, which has been sulking, is not over yet. A few months later, he invited a guest to dinner as the general manager of Zhuhai Jinkong, and the matter of drinking 12 bottles of red wine was reported again. At that time, the State-owned Assets Supervision and Administration Commission of Zhuhai may still have a chance to save Zhou Shaoqiang, and the survey result only stated that the consumption was 4,689 yuan.
The State-owned Assets Supervision and Administration Commission of Zhuhai really doesn’t know what’s going on. I didn’t understand the trend from "loose and soft" to "strict and hard" at all, and I was properly beaten by the investigation results of the Commission for Discipline Inspection:
"2 bottles in Zhou Botong in 2007, 2 bottles in Baron Manor in 2007, 5 bottles in Astor in 2004, 1 bottle in Admiralty in 1996, 1 bottle in Vuitton in 2000 and 1 bottle in Mouton in 1998 … … The total consumption is 37,517 yuan. "
Zhou Shaoqiang was given a disciplinary warning within the Party, and all his posts were wiped out to the end. Now he has left Zhuhai, leaving only the reputation of "Brother Wine" to be laughed at. Later, as a negative example, it appeared in the documentary "Zhengfeng Suji". In the film, there was also a leader of Zhuhai State-owned Assets Supervision and Administration Commission, who said with regret:
"I still know this cadre well. He is young, smart and energetic. In the eyes of our colleagues, he is a young and promising talent."
When Dong Mingzhu commented on Zhou Shaoqiang to the media afterwards, he said that Gree was not a drinking culture, and people who didn’t adapt to Gree were bound to leave.
Young people born in 1970s are prone to make mistakes, so Zhuhai SASAC chose Meng Xiangkai, who is more experienced, to take over. Meng Xiangkai used to be the chairman and president of three old military enterprises, Xifei International, AVIC Tongfei and AVIC Heavy Industry. In terms of qualifications and resumes, it is really not a "high job" to be the chairman of Gree Group.
Dong Mingzhu also explained that a talent like Meng Xiangkai is definitely not her skill, but Gree is attractive. It is such an old Jianghu that has been fluttered by big winds and waves. After two years in Gree, it was still unknown for two years and then quietly left.
Two consecutive party secretaries have left. Last year, Zhuhai SASAC sent a young cadre named Zhou Lewei. In order to make cadre Zhou sit firmly, he also gave him the position of chairman of Dong Mingzhu Group.
Zhou Lewei used to be the chairman of Zhuhai Air Show, which is the most representative of Zhuhai’s image, and he was also a key local cadre. The SASAC made great efforts to push him to the position of chairman of the group, with obvious intention.
However, the abacus of Zhuhai SASAC may not be so easy to realize. Last year, after Dong Mingzhu was dismissed as the chairman of the group, the media under the State-owned Assets Supervision and Administration Commission of the State Council issued an article explaining the "truth" of Dong Mingzhu’s resignation. At the end of the article, the article specifically emphasized that,
"It is hard to believe that the pattern of Zhuhai SASAC will be small enough to make full use of institutional tools to crowd out an industry leader, and there will be organizations with a pattern that is too small for one person. However, in today’s fair and transparent governance environment, no one dares to be presumptuous enough to use public power to openly send talents and discharge energy."
These words clearly seem to explain the decision of Zhuhai SASAC, but there is nothing wrong with explaining them as "knocking in the dark"
Over the years, Zhuhai SASAC has always felt that it is the major shareholder of Gree Electric, thinking about how to infiltrate the listed company Gree Electric through Gree Group as a bridgehead. However, the cadres sent here rarely have good fruit to eat.
As early as 2003, Gree Electric fell out with the group, and Xu Rong, the chairman of the group, planned to remove Zhu Jianghong from the board of directors. As a result, he was finally stopped by the above, and Xu Rong was quickly transferred. It is said that it was because the province gave an order to Zhuhai City to ask for a serious investigation of Gree Electric.
Gree Group is a state-owned enterprise directly subordinate to SASAC, while Gree Electric is a listed company. Although Gree Group is a major shareholder, it has no holding. This gives Zhu Jianghong Dong Mingzhu room to maintain management control.
In 2005, the State-owned Assets Supervision and Administration Commission of Zhuhai wanted to sell Gree Electric, talked with several internationally renowned home appliance companies, and finally chose Carrier in the United States.
At that time, the concept of the world’s top 500 was very hot, and all localities tried their best to get involved with the top 500. Therefore, there was a wave of "outsourcing" of domestic brands, such as little nurses and Chinese toothpaste, which were all acquired by powerful foreign capital and turned into top 500 joint venture brands.
Carrier in the United States is also one of the top 500 companies. Zhuhai feels that selling Gree Electric to Carrier can get a good price and attract a good foreign investment to the local area, which is a good thing to kill two birds with one stone. But this matter has always been behind Zhu Jianghong’s back and Dong Mingzhu’s back. When they know it, Carrier’s accountants are ready to go into the factory to take stock of assets.
Zhu Jianghong was very frustrated when he learned that he had worked hard for many years to make a wedding dress for foreign businessmen. No matter how well Gree Electric managed, he couldn’t run out of a paper order, thinking that he could only accept his fate.
But Dong Mingzhu didn’t do it. She asked the staff to block the door, forbidding the carrier to come in, and quietly went to Guangzhou to complain to the secretary of the provincial party committee. The old secretary of the provincial party committee didn’t say anything on the spot after hearing Dong Mingzhu’s report that "national brands can’t fall", but soon the province sent a team of people to Gree Electric for investigation, and after a while, the acquisition was stopped.
Small and medium shareholders have always supported Zhu Jianghong and Dong Mingzhu. Everyone knows that state-owned enterprises without owners are prone to moths, and the performance under Dong Mingzhu of Zhu Jianghong is stable. Who knows what will happen to the people sent by SASAC? Moreover, Dong Mingzhu has never been soft on dividends in recent years, and Gree’s share price has been rising all the way. Where can there be a second A-share?
It was not until last year that they said they would buy Yinlong, and the minority shareholders left Dong Mingzhu for the first time, which attracted Dong Mingzhu’s anger. Everyone was embarrassed to say it, and they were trained with a straight face, and their bodies were honest and voted against it. A company with assets of only five or six billion yuan, with a premium of 13 billion yuan, isn’t this going to be a big head? Most importantly, most of the acquired funds will be raised by issuing additional shares. Once the additional shares are issued, everyone’s shares will be diluted, and shareholders will certainly not be willing.
After all, they all learned to speculate in the China stock market, and no one wants to meet another Jia Yueting.
03
More dangerous than the rejection of Yinlong’s acquisition is Yao Zhenhua’s "knocking on the door" last year. Both Dong Mingzhu and Zhu Jianghong have been careful to maintain a balance between the capital market and SASAC, so as to maintain the management’s control over enterprises.
But when Yao Zhenhua was so unreasonable, he made people panic in the A-share market, forcing Wang Shi to bow and apologize. Once he became a big shareholder of Gree, Dong Mingzhu’s seesaw game could not be played any more. Fortunately, it is the red line set by our party for the financial system after the 18th National Congress of the Communist Party of China. Yao Zhenhua has to feel whether this red line is electrified or not.
As a result, a lightning bolt of "evil spirit" and "harmful essence" came down, and Yao boss was not allowed to enter the insurance industry for ten years, and Vanke’s investment did not count. Finally, he learned the power of Miss Dong.
Dong Mingzhu has become a online celebrity in the past two years. Supporters think she is quick-talking and a strong woman, while opponents think Gree’s propaganda on Dong Mingzhu is a bit disgusting.
I really can’t blame Miss Dong for this. China has long been a male-dominated society, especially in the business world, where there are very few female entrepreneurs except one party and heiress in the mom-and-pop shop. Therefore, those who praise the quality of business leaders are all male-biased words.
Dong Mingzhu, who hold hundreds of billions of state-owned enterprises by her own ability, deus ex was in a shopping mall where male hormones overflowed, and at the same time she was promoted as "beautiful", "generous" and "intellectual" in her autobiography. These are typical words used to describe women, which is really strange. butTo the leadership, Dong Mingzhu’s character is loyalty, honesty, responsibility and courage, which is a great advantage.
When Gree Electric signed an investment agreement with Brazil in 1998, the then Guangdong Provincial Party Secretary was present in person, praising Gree Electric as "a good start". A few years later, I heard that Gree Electric was building a production line in Brazil, and the new Guangdong Provincial Party Secretary who was visiting South America also took time out of his busy schedule to attend the signing ceremony. On the spot, he also encouraged Dong Mingzhu to say that Gree was the "pearl" of Guangdong.
Later, the two old secretaries were transferred to Beijing, and they met the Guangdong delegation at the annual meeting. They also did not forget to encourage Dong Mingzhu to continue to make Gree bigger and stronger.
It seems that Dong Mingzhu spoke bluntly, offended a circle of people, and even dared to criticize the Zhuhai SASAC in public, which seemed to be particularly politically incorrect. But in fact, Dong Mingzhu has always been able to understand the ideas of higher-level decision makers.
When he attended the National People’s Congress for the first time in 2003, he saw that the Great Hall of the People still used foreign air conditioners, and Dong Mingzhu vowed to make the Great Hall of the People use Gree air conditioners. After environmental protection became a new topic, one year when Dong Mingzhu went to Beijing for a meeting, he was inspired by a foggy day. He came back to ask the technical department to protect the environment and save energy, and produce air conditioners that don’t consume electricity. The technical department was forced to produce photovoltaic air conditioners, which Dong Mingzhu advertised with Wang Jianlin.
During the years of high-speed rail development, more than 30 high-speed railway station were opened to traffic, and the Gree air conditioners selected required to be installed within a few months. After Dong Mingzhu set the deadline, he announced internally that if he failed to do so, he would be dismissed on the spot.
Many local governments welcome Dong Mingzhu. First, Gree is a well-known enterprise. Second, Dong Mingzhu advocates militarized management within Gree, which always refers to where to fight, and its execution is particularly strong, and it almost never disappoints people.
It is said that no matter where a production line is built, Dong Mingzhu requires at least eight months and at most one and a half years, and products must appear. Therefore, Dong Mingzhu is very popular at every meeting.
Yinlong’s new production base was chosen in Tianjin, and the newly appointed party secretary in Tianjin had a good relationship with Dong Mingzhu. In his early years, the secretary worked in Guangdong Province, and the two of them had an intersection. Later, Secretary Li was transferred to Hubei, and Dong Jie’s EMBA degree was also obtained from Zhongnan University of Finance and Economics during his tenure in Hubei. Although Dong Mingzhu made a billion-dollar bet with Lei Jun, the heart of Wuhan people, to give a speech in Wuhan, he was still happy to call himself a "Wuhan native".
So Dong Mingzhu knocked on the desk of Ruan Chengfa, secretary of the Wuhan Municipal Party Committee, and Secretary Ruan wouldn’t be angry at all. He also promised Dong Mingzhu that as long as he had difficulties, he would look for him directly.
In 12 years, when the then secretary of the Guangdong Provincial Party Committee participated in the deliberation of the Zhuhai delegation, Dong Mingzhu sued the Guangdong Provincial Finance Bureau on the spot and confided that Gree Electric had been unfairly treated in a bidding project in Guangdong Province. Dong Mingzhu explained: "I’m not challenging the government. The actions of individuals can’t represent the government. This is damaging the image of the government. "Secretary Wang encouraged Dong Mingzhu to" sue him "on the spot.
Later, this incident also prompted the Guangdong Provincial People’s Congress to amend the Procurement Law. Dong Mingzhu said, "This is beneficial to the society, the government and the country, and I am responsible for the country by doing so." Dong Mingzhu once said: You can scold me, but you can’t scold my enterprise. Since the case of Yao Zhenhua and Yinlong, Dong Mingzhu’s attitude has become to criticize China for not making it.
Moreover, Dong Mingzhu also knew this problem before others. In 12 years, after she became the chairman of Gree Electric, she asked party member in Gree to wear party constitution when she went to work. In the second year, Gree Electric’s annual meeting was specially held in a military training base. All employees from Dong Mingzhu wore military uniforms, lived in military camps together and sang military songs, and received four days of military training.
Therefore, neither the former State-owned Assets Supervision and Administration Commission of Zhuhai nor the later Yao Zhenhua realized that although Gree Electric looks like a listed company with scattered shares and private capital as the majority share, Zhuhai State-owned Assets Supervision and Administration Commission is the direct leader of Gree Group. But in fact, it is an "invisible central enterprise" that leaders care about, the masses pay attention to and the society has great influence.
Of course, now people are gradually aware of this problem, so neither the Zhuhai SASAC nor the capital market will easily express their views on Dong Mingzhu’s future.
Just because you don’t say anything doesn’t mean you don’t have an attitude. Gree’s current business growth has encountered a looming ceiling. First of all, in terms of overall revenue, old rivals Midea and Haier will take the lead in entering the era of 200 billion revenue. In Gree’s most dominant single item, air conditioning, Midea is only one step away.
At this time, Zhu Jianghong, the old leader, made some noises from time to time, reminding Dong Mingzhu not to deviate from the route of focusing air conditioning. There are also some media outlets that keep circulating the news to remind shareholders and users that Dong Mingzhu just hitchhiked on the original development momentum of Gree, and there has been no breakthrough in the past five years.
There are also some news from Zhuhai municipal government. Although airborne troops will not be sent again, they will support talents within Gree. For example, Huang Hui, who has just become CEO, will take some responsibilities from Dong Mingzhu in his next term.
Last year, the chairman of the group was dismissed, and the tough Dong Mingzhu shed tears, saying that too few people sent carbon in the snow, which was not melodramatic at all. However, the capital market is the icing on the cake. During Dong Mingzhu’s second term, apart from Zhu Jianghong’s old route, he put forward three routes one after another, namely diversification, Gree mobile phone and automobile, but none of them have been fully implemented.
The promised 50 million Gree mobile phone has not been seen yet, and it is an idiotic dream that Huawei ranks first and I rank second. New energy vehicles were rejected by timid shareholders. Although Dong Mingzhu is the second largest shareholder of Yinlong, it is still Wei Yincang’s company. Not only did Dong Mingzhu subjectively say that Yinlong would not be the focus of his work, but objectively Gree’s position in the industry was far from that of Yinlong.
So if 2018 goes on, Gree’s Dong Mingzhu era, which started in 2012, will be an ordinary full stop, not an exclamation point. When a blueprint is painted to the end, Dong Mingzhu should prefer it to be a comma for the time being, and then draw an exclamation point in three years.
