In 1919, 19 dividends were made, the accumulated amount was 41.792 billion yuan. Gree Electric announced on the evening of April 25th that it decided to pay dividends in 2017, which made the market erroneous.
According to the statistics of the Changjiang Business Daily reporter, according to the plan of Gree Electric Appliance's shareholder return, the amount of dividends in 2017 will exceed 13.4 billion yuan, and Dong Mingzhu will receive at least 100 million yuan in cash. At the same time, from 2012 to 2016, Gree in the Dong Mingzhu era. Appliances, total dividends as high as 36.396 billion yuan.
However, Gree Electric Appliances, which has cash money of 99.61 billion yuan, is not bad, but it saves dividends and is ready to attack the city in the smart equipment, smart home and other fields. Gree Electric Appliances' director secretary Wang Jingdong also mentioned in the conference call. To, 'The future will be in the manufacturing base, smart equipment, integrated circuit air-conditioning machine main chip in these areas will have spending. But this does not mean that dividends do not pay attention to the interests of investors', especially in the US Department of Commerce announced the next seven years After the US company will be prohibited from selling components, goods, software and technology to ZTE, Gree is determined to be its own air-conditioning chip.
However, Gree's mobile phone sales were not satisfactory, and the car maker's dreams were difficult to round. This has caused marketers to worry that Gree Electric would like to do the chip would repeat the same mistakes. However, some experts believe that its historical perspective reflects its diversified layout. Can be expected.
Don't Dividend Redemption A Year and a Half ago
"Gree did not treat you badly! I can't say too much about it. Do you have a few of the listed companies that have paid dividends to you? I won't pay you dividends in 5 years. How can you please me?"
On October 28, 2016, at the Gree's extraordinary general meeting of shareholders, Dong Mingzhu said such a 'qi words' because he did not get applause.
Dong Mingzhu’s analysis did not applaud. It may be that some investors were dissatisfied with Gree’s acquisition of Yinlong. “Geli’s profit from 1 billion, no profit from 1%, or even loss to the company, achieved 13% of profits. It is up to you. Come on? It depends on our heart. '
Dissatisfaction with shareholders was not reflected in the following year's annual report. Gree Electric Appliances had a net profit of 15.421 billion yuan in 2016, a dividend of 10.828 billion yuan, and a dividend rate of 70.22%. Gree's dividend amount hit a record for the past year. Most of all, the dividend rate also became the third in history.
One and a half years later, Dong Mingzhu honored the 'commitment'.
Gree announced the 2017 financial report on the evening of April 25, which showed that the company’s revenue was 148.286 billion yuan, an increase of 36.92% year-on-year; net profit was 24.402 billion yuan, a year-on-year increase of 44.87%, both set a new record high. At the same time, the company has been distributing dividends for 10 consecutive years. Gree Electric Appliances, decided not to dividends in 2017.
According to a report by the Changjiang Business Daily reporter, Gree Electric released a shareholder return plan from 2016 to 2018. The company specified that no major investment plans or significant cash outflows (except for raised capital investment projects) occurred during the year of dividend payment. The company’s annual cash dividends accounted for the current year. The proportion of the net profit attributable to the parent company is not less than the average dividend ratio in the past three years, ie not less than 60%.
Therefore, this means that if Gree Electric Co., Ltd., in accordance with the plan of shareholder return in 2017, the dividend amount will exceed 13.4 billion yuan.
Gree Electric replied to the Shenzhen Stock Exchange that the company plans to gradually expand the air-conditioning capacity, and plans to focus on the layout of smart equipment, smart appliances, integrated circuits and other industrial areas, to achieve sustainable, stable and healthy development of the company.
Not only that, Gree Electric also said that according to the 2018 business plan and long-term industrial planning, the company expects to have large capital expenditures in terms of capacity expansion and diversification and expansion. In order to seek the long-term development of the company and the long-term interests of shareholders, the company needs to do Good corresponding capital reserves.
Gree Electric also responded that the non-profit sharing is not Dong Mingzhu’s personal decision but the result of the company's board decision.
5 years dividends 36.4 billion net profit 60%
After the news of 'zero dividends' came out, the market was in an uproar. Gree's total market value evaporated 27.2 billion yuan a day.
In 2017, the Chairman of the China Securities Regulatory Commission Liu Shiyu personally took part in the competition, stressing that companies should pay attention to cash dividends. This year, when Langsha shares and other 'iron roosters' pulled their hair out, Gree Electric's move attracted a letter of concern from Shenzhen Stock Exchange requesting Gree. The electric appliance explained the specific reasons and reasonability of cash dividends not being paid in 2017, indicating whether the interests of small and medium investors have been effectively protected.
Subsequently, Gree Electric Co., Ltd. appeared to have "compromised" and said that after full consideration of investors' demands, it plans to distribute dividends in mid-2018.
In fact, in the A-share market, Gree Electric is a high-quality 'white horse' stock, which is highly sought after by investors.
Statistics show that Gree Electric Appliance Co., Ltd. has accumulated 19 dividends for 22 years since its listing in 1996, with a total dividend of 41.792 billion yuan and a net profit of more than 40%.
Especially after Dong Mingzhu served as chairman in 2012, Gree Electric was very generous and the amount of dividends was continuously increasing.
According to statistics of the Changjiang Business Daily, from 2012 to 2016, Gree Electric Appliances' total dividends amounted to RMB 36.396 billion, accounting for more than 60% of its net profit. Even if its revenue fell by RMB 40 billion in 2015, its net profit dropped by RMB 2.6 billion. Gree still had a dividend of 9.024 billion yuan, which was the same as that of the previous year. This also enabled the company's dividend ratio in 2015 to reach 72%, becoming the highest ratio except for the first year of listing.
It is worth mentioning that according to the 2017 annual report, Zhuhai Gree Group Co., Ltd., Beijing Hehai Guarantee Investment Co., Ltd. and Hong Kong Securities Clearing Company Limited are the three largest shareholders, holding 18.22%, 8.91%, 8.41%, respectively. Pearl holds a 0.74% stake in Gree Electric Appliances, ranking 10th in the top ten shareholders and the only natural person among the top ten shareholders.
The reporter from the newspaper of the Yangtze River Business Daily calculated that Dong Mingzhu will receive at least RMB 100 million in cash if it implements a dividend payment plan. Dong Mingzhu’s pretax pay in 2017 is RMB 7.0207 million, which is a 14-fold difference from the dividend.
However, Gree Electric's first quarterly report in 2018 showed that the shareholding ratio of the National Social Security Fund's 101 portfolio reached 0.79%, which squeezed Dong Mingzhu out of the top ten shareholders.
In addition, 99.65% of the shares held by Dong Mingzhu are in the state of pledge, and in the 2017 semi-annual report, the proportion of shares held by her was pledged is about 75%.
12 times increase in smart equipment revenue
In fact, Gree Electric does not lack cash dividends. The Changjiang Business Daily reporter found that as of the end of 2017, Gree Electric Appliances had 99.61 billion yuan in monetary capital, accounting for 46.34% of total assets, of which bank deposits amounted to 59.17 billion yuan.
Do not pay dividends, Gree save money for doing?
According to Gree Electric, the company is planning and implementing key investment projects including: new air-conditioning bases, smart factory upgrades, smart equipment, smart home appliances, integrated circuit design investment, and investment in mixed investments of its subsidiaries.
After the recent "ZTE Communications Incident," Dong Mingzhu publicly stated: 'Gree is doing its own chip and doing CNC machine tools.'
The Changjiang Business Daily reporter found that the annual report found that Gree Electric's bright performance was almost contributed by the air-conditioning products, while other products' stamina should not be underestimated.
According to the 2017 annual report, of Gree Electric Appliances' air-conditioners, living appliances, and smart equipment, air-conditioning revenue was 123.41 billion yuan, an increase of 40.1% year-on-year, accounting for 83.22% of total revenue, an increase of 1.89 percentage points year-on-year. 2.3 billion yuan, a year-on-year increase of 33.95%. However, Life Appliances accounted for 1.55% of total revenue, which represented a decrease of 0.04 percentage point from the previous year. Intelligent equipment realized revenue of 2.126 billion yuan, a year-on-year increase of 1220.27%. With rapid growth, It also increased the proportion of smart equipment in the total revenue by 1.28 percentage points to 1.43%, which is in line with living appliances.
At the same time, in the newly established 7 subsidiaries of Gree Electric Appliances in 2017, the field of smart equipment includes Zhuhai Gree Robot Co., Ltd., Zhuhai Gree CNC Machine Tool Research Institute Co., Ltd. and Gree Robots (Luoyang) Co., Ltd.
From this it can be seen that Gree Electric wants to chase after the victory and flex its muscles on the smart equipment project.
The diversification of the layout of the market by the market dispute
Gree Electric will extend its reach into other fields. Whether it can be developed as well as the air-conditioning industry is the most worrying to investors. Gree Electric mentioned in its annual report that the company will gradually expand its business on the basis of 'technology-related diversification'. 'Industry-related diversification', emerging in smart equipment, smart home, new energy.
According to public information, Gree Electric's director secret secretary Wang Jingdong also mentioned in the conference call that Gree is currently making a relatively large plan. 'The future will be in the manufacturing base, smart equipment, integrated circuit air-conditioning machine main chip in these areas will have Expenses. However, this non-profit does not mean that investors are not valued.' Wang Jingdong also stated that, especially after the US Department of Commerce announced that it will ban US companies from selling components, goods, software and technology to ZTE for the next seven years. Gree Electric is determined to be its own air-conditioning chip. 'We will make this investment plan in the near future, and then it will be convenient to communicate and disclose with investors. ' Wang Jingdong said.
However, previous cross-border development of Gree Electric Appliances encountered many problems.
Taking the controversial mobile phone as an example, as of May 5, a reporter of the Changjiang Business Daily saw in the Gree Mall that the total sales volume of Gree's second-generation mobile phones and Gree color industry was 111.9 thousand units, and the performance was not satisfactory.
'Geli Motors' also caused a sensation, but the drama ended. In 2016, Dong Mingzhu had promoted Gree Electric to plan to acquire 100% equity of Zhuhai Yinlong with a consideration of RMB 13 billion, but ended in failure, and finally Dong Mingzhu became a personal ident... , The investment of 1 billion yuan has become a shareholder of Zhuhai Yinlong.
Insiders told the Changjiang Business Daily that smart phones and new energy vehicles are hot spots. Gree Electric has not fully grasped the differences and caused the development to stagnate. 'The chip is now the hot spot. Whether it will make the same mistakes remains to be seen.'
'Greili Electric Appliances' storage of ammunition for a year without redemption has little impact on the investment market. 'On May 4, Asset Management Analyst Liu Guangwen told the Changjiang Business Daily that Gree Electric Appliances, as a leading player in the air-conditioning industry, grew. Larger space, 'From the historical performance of Gree Electric, its diversified layout prospects can be expected. At the same time, Gree's earnings ratio of about 11 times, it is worth the market chase.'