In these years, Dong Mingzhu emphasized the mission of Gree in China's manufacturing industry in almost all public occasions. She also successfully shaped the image of the Chinese manufacturing spokesperson. Of course, as a maverick entrepreneur, the controversy surrounding her Never stopped.
On June 25, after nearly one month of extension, Gree Electric Appliances General Meeting was held at Zhuhai Headquarters.
This time the general meeting of shareholders received unprecedented attention. The number of investors who attended the day exceeded 500, setting a historical record, so that a separate venue is needed to accommodate.
Dong Mingzhu lamented that 'the shareholders' concern for Gree Electric is unprecedented.'
This is a general meeting of shareholders held at a special time. The current board of directors has expired on May 31, 2018. Dong Mingzhu will not be re-elected. When will he be retired?
However, the meeting did not involve the reelection of the board of directors.
Re-election or retirement?
About a month ago, at the Gree Dream Festival on May 16, the new Zhuhai Municipal Party Committee Secretary Guo Yonghang brought in four sets of leadership teams from Zhuhai City and said in his speech: Wishing young Dong Mingzhu to lead the young Gree, Cast brilliant.
This was interpreted by the outside world as a clear signal to support Dong Mingzhu's re-election. However, the delay in the reelection has also caused some investors' concerns. What should I do without Dong Mingzhu's Gree?
'What if I retire?' At the shareholders meeting, Dong Mingzhu responded to this question.
She admits that from the bottom of her heart, she wants to retire. 'In the 28 years of Gree, I have devoted myself every day. You know that we often work from 3 to 4 in the night and 2 million in a year. We Not for money in this officer, we really have dreams, I always feel that one person has to perform his duties with due diligence. If I retire tomorrow, I will still stick to the last moment today, and will not make any mistakes for the development of Gree Electric. decision making. '
At the shareholders meeting, she announced many long-term plans.
For example, we must continue to transform and upgrade, do smart equipment, mobile phones and chip business. 'Must do. Of course, tomorrow I am not the chairman, that is another thing, as long as I am, I must do it, do it. Just succeeded. '
She also wants to achieve employee stock ownership. 'Before retiring, let all our Gree employees hold Gree stocks to solve the problem of barbarians.'
People can't imagine a Gree electric appliance without Dong Mingzhu. But this day is always coming, so how to pass is the key.
'(Serving) the chairman of the six-year-old, I think my most successful is to train a team, not myself.' She stressed that instead of cultivating a person, she cultivated a team and created a unique Gree. Corporate culture. This corporate culture emphasizes dedication, emphasizes the building of a clean government, and cuts the relationship between management and suppliers, suppliers. 'Only to ensure the quality of our products, only in this way can we guarantee our fairness.'
Who achieved the Gree?
At this general meeting of shareholders, Dong Mingzhu made a meaningful speech: Re-elected the two-term chairman, what did you do for Gree Electric?
She made a systematic review of Gree's 28-year development:
In 1991, Gree Electric was established. At that time, the dream of dreaming was to be able to go public, but it was not listed until 1996. 'Why can't you get on the market, because the company doesn't have good finances, and there is no good performance to support it.' According to Dong Mingzhu, 1995 In the year, Gree's performance has increased sevenfold. In that year, Gree Electric realized real profits and its profit was more than one billion. Therefore, it was only in 1996 that it had a chance to go public. 'Of course, this credit depends a lot on Dong. Pearl. I came back to charge sales that year, and I was a deputy minister at the beginning. After one month, I turned from deputy.
In 2001, Dong Mingzhu was appointed as General Manager of Gree Electric. From 2001 to 2011, Gree Electric continued its 'Zhu Dongpei' for 11 years. During these 11 years, Dong Mingzhu and Zhu Jianghong achieved cumulative revenue together. 3493 billion yuan.
In 2012, Zhu Jianghong retired, Gree Electric began the Dong Mingzhu era. From 2012 to 2017, the cumulative revenue of Gree Electric was 720.9 billion yuan.
From the perspective of profit, in 1995, Gree Electric began to make real profits; from 1996 to 2000, the profit was close to 1.1 billion; from 2001 to 2011, the profit was close to 18.4 billion; from 2012 to 2017, Gree's profit was more than 800. Billion.
In recent years, Gree's patented technology and scientific research strength have also achieved leap-forward development: between 1991 and 2000, Gree Electric has 148 patents; from 2001 to 2011, it has grown to more than 4,000 patents; and in the past 6 years Gree Electric has patents of 33,571, including 15,900 invention patents.
'Which company dares to fight with me?' Dong Mingzhu said that the most painful thing for Gree over the years has been to dig people. 'Not a digging, everyone wants to dig.'
From the changes of slogans in these years, it also reflects the different development stages of Gree Electric. From the initial 'Geli Electric created opportunities' to 'Good Air Conditioning Gree'; then, after 12 years, it shouted 'Master Core Technology In the last two years, it has become 'let the world fall in love with China'.
Dong Mingzhu believes that every advertisement in different periods expresses the strength of a company.
Advertising is not only the strength of the company, but also the ambition. In these years, Dong Mingzhu emphasized the mission of Gree in China's manufacturing industry in almost all public occasions. She also successfully shaped the image of the Chinese manufacturing spokesperson. Of course As a maverick entrepreneur, the controversy surrounding her has never stopped.
Some people say that Dong Mingzhu is now independent, and one person has the final say. But it is because I have the final say. From 2012 to 2017, the six-year revenue is more than 700 billion, which is the cumulative close to the past 21 years. Double the growth. '
Dong Mingzhu 'speak with facts', as always, hard.
Where is the new growth point?
Even in the past six years, under the leadership of Dong Mingzhu, Gree has created new glory, but the 'ceiling problem' is still a concern of some investors.
Since 2005, Gree has been ranked first in household air conditioners for many years, and from the 2017 financial report, Gree's profit margin is almost double that of its competitors.
In 2017, Gree Electric achieved an unprecedented record, with revenue of 148.2 billion yuan, up 36.92% year-on-year; net profit of 22.4 billion yuan, up 44.87% year-on-year. But more than 80% of revenue comes from air-conditioning business but also limits the outside world to Gree The imagination of the future, air-conditioning business to maintain such a high growth rate in the future is also more difficult, investors will inevitably have the 'ceiling' worry.
Dong Mingzhu believes that the problem of 'ceiling' does not exist. 'How big is the air-conditioning market, the market is infinite. Gree is enough to be recognized in this field.' According to her, in addition to household air conditioners, Gree It is also widely used in the field of commercial air conditioning, from the Great Hall of the People, Chairman Mao Memorial Hall, China Respect, to many airports and subways are using Gree air-conditioning.
But she must also tell investors new stories.
In the new story told by Dong Mingzhu, smart equipment, chips, mobile phones and molds have become the protagonists. These are the areas in which she is determined to succeed.
In the 2018 Gree Electrics cadre work conference, smart equipment was promoted to 'second main business'. In 2017, smart equipment revenue accounted for only 1.4%, but more than 10 times more than the previous year.
'Intelligent equipment So far, many products have been put on the market, it is this speed to do 5 billion this year, 10 billion next year, the next year 20 billion or more to be tested in time, and market awareness.'
The controversial mobile phone business, she still insists on doing. She told investors that, you see, Gree does not have a profit decline in doing mobile phones, which means that there is nothing wrong with the choice.
Dong Mingzhu promised that no decision can affect the survival and development of the company. 'We have a bottom line. We will not let a company fall because of a project or invest in an industry.'
Why not pay dividends?
Of course, investors are most concerned about the issue of dividends.
On April 26, 2018, Gree Electric issued a notice saying: It is proposed that no bonus will be distributed in 2017, no bonus shares will be sent, no share capital will be transferred to the share capital, and the balance will be transferred to the next year.
Gree Electric Appliances evaporated nearly 30 billion yuan on the day, and the Shenzhen Stock Exchange also sent a letter of concern to Gree Electric.
On the day of the shareholders' meeting, Dong Mingzhu explained that the reason for not paying dividends this year is because the strategic plan has not been completely laid out.
If you pay dividends by convention, 'I am at least close to 100 million, but I don't have any points. I don't want to divide, but after the second day, Gree's competitiveness has declined. Do you hope?' Dong Mingzhu said frankly, no dividends are for Businesses are doing more powerful.
In previous years, Dong Mingzhu generously gave investors a big dividend.
In 2016, Gree Electric sent a total of 10.828 billion yuan to all shareholders, breaking the cash dividend record of Gree Electric Appliances over the years. According to statistics, between 2012 and 2015, Gree Electric has accumulated cash dividends of up to 25.568 billion yuan, the average dividend yield. At 8.5%, ranking first in A-shares, the amount of dividends far exceeds the sum of Midea and Haier, so it is called 'the most conscientious listed company'.
'From the time of listing to today, if we remember correctly, the dividend has exceeded 30 billion.' Dong Mingzhu said bluntly that in 1996, Gree had only paid 500 million yuan. At that time, no one said that Gree had no dividends. .
She hopes to get the understanding and support of shareholders.
Judging from the results of the final vote of the shareholders' meeting, the "2017 profit distribution plan for 2017 will not be distributed, the bonus will not be sent, the share will not be transferred to the share capital, and the balance will be transferred to the next year's distribution", and 94.96% of the shareholders will be obtained. I agree to pass. Compared with other bills, most of them pass the 98% pass rate. This is already a more controversial motion.