Gree has been relying on high-yield, high dividends, which investors have called 'A-stock printing machines'. However, behind the outstanding performance, the impact 200 billion revenue, Dong Mingzhu successor, business diversification These three 'land mines' have always been the pain points of investors.
On the evening of April 25th, Gree released its 2017 annual report, but its performance in the history of the most bully has never arrived. No dividends The power of the 'black swan'. On April 26, Gree Electric Appliances plunged 8.97%, the stock price was locked at 45.58 yuan, and the market value of the day evaporated 27 billion yuan.
Although Gree Electric replied to the Shenzhen Stock Exchange, it will clarify the funding requirements and cash flow estimates as soon as possible, fully consider the investor’s demands, and perform the mid-2018 dividend, but this argument still has great uncertainty.
Some industry analysts have analyzed that Gree Electric Appliances has two possibilities: A relatively definite direction is that of Gree Electric Appliances. The retained funds will be used for the development of production bases, smart factory upgrades, and new technologies such as smart equipment, smart appliances, and integrated circuits; Another possibility is that in order to prevent mergers and acquisitions of Yin Long's failed 'tragedy' from happening again, the shareholders are forced to stand in the way of postponing dividends, and when they vote in favor, Dong Mingzhu stays in office for a mid-term dividend.
Corresponding to the second guess is that in August 2017, he was promoted to the position of chief executive officer from Gree Electric's executive vice president, chief engineer position. Huang Hui , The position in the 2017 annual report was changed back to the executive vice president, chief engineer.
This silent position adjustment is really intriguing.