Just now, 65-year-old Dong Mingzhu announced that he would not retire and continue to work! When employees get married, they will be assigned a room … Best friend Liu Shuwei was elected as the independent director.
Source: China Fund.
China fund newspaper Taylor
Today is a big day for Dong Mingzhu.
14: 30 this afternoon, 2019The first extraordinary shareholders’ meeting was held.
On the first working day of 2019, Gree Electric announced that the list of candidates for the 11th board of directors of the company was released, and a general meeting of shareholders was held on January 16th to conduct the general election of the board of directors.
This meeting is very important for Dong Mingzhu, the chairman of Gree Electric. Five proposals, such as the change of the board of directors of the company, will be voted on at the meeting, which is directly related to whether Dong Mingzhu can continue to be elected as the new director of the company and then continue to be the chairman of the company.
In May 2012, Dong Mingzhu officially became the chairman and president of Gree Electric Co., Ltd., and Gree officially entered the Dong Mingzhu era.
On May 31, 2018, the 10th Board of Directors headed by Dong Mingzhu expired, and has now served for half a year. (Note: Dong Mingzhu is 65 years old)
Dong Mingzhu, who has been in charge of Gree Electric for six years, what personnel changes will there be in this general election? Will Dong Mingzhu be re-elected or retired?
In the live speech and the question-and-answer session of shareholders, Dong Mingzhu talked about many issues of market concern, and Mr. Fund combed it out.
The election results came out.
Dong Mingzhu was re-elected successfully and was elected by a high vote.
According to the results of on-site and online voting, Dong Mingzhu was elected as the new non-independent director of Gree Electric. Liu Shuwei was successfully elected as an independent director. This means that Dong Mingzhu is one step closer to being re-elected as chairman.
Liu Shuwei once said that Dong Mingzhu was his "best friend" in his circle of friends, and he also supported Dong Mingzhu’s remarks many times.
Gree Electric executives announced that according to the results of on-site and online voting, all the proposals of this extraordinary shareholders’ meeting were passed.
Wang Jingdong, vice president of Gree Electric, reported the results of online and offline voting: Dong Mingzhu, chairman of Gree Electric, voted in favor of online voting over 98%; Gree Electric CEO Huang Hui’s offline voting approval rate is 91% and online voting approval rate is 90%; Liu Shuwei, the independent director, won 100% support in the offline voting, and passed the online voting with a high vote.
Talk about successors
Asked by investors when to retire and whether there is a successor, Dong Mingzhu replied, "My inner thought is that I want to retire now.". She said that she has an assessment of the successor, but it is not her decision, but depends on the other party’s own performance and whether it can be responsible for the enterprise.
Want to retire now
Dong Mingzhu said that this question is concerned by countless people and asked by countless people. "If you ask me what I really think now, I want to retire now. But enterprises need a transition period. It seems that the listed companies have not stipulated when they must retire. If they really want to do it (they can do it all the time), but if they can’t do it well, there will be problems if they continue to do it. Who can really be responsible for the future development of Gree Electric, I still have an assessment in my heart.
This is a very serious topic. I don’t have the final say in this candidate, but I won’t know whether it counts until I really do it. We will provide a platform for you (the successor), but it is not that you can do it well if you want to, but that you have to think clearly about how to do it well before you dare to really shoulder this burden. I believe that if you truly regard the enterprise as your home, you will be the successor of the future enterprise.
Raise wages
Dong Mingzhu said at the first extraordinary shareholders’ meeting in Gree Electric in 2019 that if Gree achieved a revenue of 300 billion yuan in 2019, we would have a profit of 39 billion yuan at a profit rate of 13%. If I can get so much profit in 2019, not only the senior management team, but also I will give my employees a raise. In a word, let employees live with dignity by proper methods.
On equity incentive
At the scene, some investors suggested Gree to carry out equity incentives for employees. Dong Mingzhu said that obeying the law is the bottom line, and this issue should be considered only under the condition of not hurting everyone’s interests. She further stated that if the company’s performance is optimistic in 2019, it will give Gree employees a reasonable salary increase. "Is the salary increase for stocks or money? This should be considered at a deeper level. "
On the decline of real estate industry
In response to the investors’ questions about the impact of the real estate industry on Gree’s future, Dong Mingzhu replied, "If the real estate industry fails, will our industry be affected? I can tell you that it has no effect. " She said that the biggest problem for enterprises is innovation, and the key is whether they can make good things. She believes that Gree Electric’s leading technology is its future competitiveness.
Gree will guarantee 10% annual growth.
Dong Mingzhu said that the local government in Zhuhai has set a revenue target of 600 billion yuan for Gree Electric in 2023. For shareholders, she said that Gree Electric can guarantee an annual growth of 10%.
Gree’s job is not a part-time job
Gree people are masters.
Dong Mingzhu said that in 2018, Gree Talent Apartment will start construction. I think people who are willing to devote their lives to Gree Electric are talents. How can such a team reassure them? Everyone is concerned. Many people are working, but Gree is different. As long as you are from Gree, you are the master. You should be rewarded for your dedication in Gree. Many of our enterprises are not incapable of building houses, but whether you have the heart. Gree employees can get a suite when they get married. As long as he works in Gree for life, this suite is his.
Gree’s unsuccessful acquisition of Yinlong was manipulated.
Regarding the "black swan" of Yinlong New Energy in 2018, Wang Jingdong, the company’s secretary-general, said: "You think the Yinlong incident is a negative news, but I don’t think so. This shows that Mr. Dong does not flinch in the face of this (incident). Investing in Yinlong is a feeling, responsibility and responsibility. Private enterprises have such and such problems, not hiding them. I believe that after these problems are solved, the development of Yinlong will be better and better. Last year’s income exceeded 10.2 billion yuan, which also reflected Mr. Dong’s confidence in the industry. "
When talking about the failure of Gree Electric’s proposal to acquire Yinlong New Energy in 2016 to be passed at the shareholders’ meeting, Dong Mingzhu said that in fact, all the small shareholders voted in favor at that time. "We feel that someone is behind this." Dong Mingzhu emphasized her optimistic attitude towards the new energy automobile industry. She hoped that Yinlong would help Gree get through the field of automobile air conditioning, so that Gree’s industry could develop in all directions and gain the right to speak in the world. She revealed that Yinlong and Gree will further strengthen cooperation in the future. "This is not a transfer of interests, but a contribution to the development of the country."
Respond again why the chip share price does not rise:
Because we really did it.
Dong Mingzhu said: Why do I lose my share price as soon as I do it? Because I really do it. Gree wants to be a creator, not live by others. We hope that the development of Gree Electric will promote the development of industries and related upstream and downstream enterprises.
Talk about dividends
When introducing the company’s development, Dong Mingzhu said: From 1991 to 2018, Gree has achieved a cumulative net profit of 128.48 billion yuan, but from 2012 to 2018, Gree achieved 109.49 billion yuan.
The company accumulated dividends of 45.5 billion yuan from 1991 to 2018 and 40 billion yuan from 2012 to 2018.
Dong Mingzhu said, "When it comes to dividends, I want to say a few more words. I have been paying dividends for ten years, and people will scold me if I don’t pay dividends for one year. We will continue to pay dividends in the future, but when we return to shareholders is based on the strategic planning of the company. " Dong Mingzhu said that her original 10,000 yuan Gree Electric stock has now increased to tens of millions, "because I have never sold it".
Asked why the valuation is not as good as the United States.
Dong Mingzhu said: I am illiterate about the stock market.
Question: Gree’s market valuation is about 8 times, the United States is 12 times, and Gree’s profit is much more than that of the United States. What do the management think of the current market valuation, and does it really reflect the value of the enterprise? If you are in the low market valuation area for a long time, will the management consider other ways to improve the valuation, such as repurchasing shares?
Dong Mingzhu: I’m illiterate about the stock market. I’m not very interested in it. I thought, no matter what kind of risks the outside world has, Gree Electric can still survive. That’s what I think about every day, and I didn’t care about the valuation. I will definitely vote for our Gree more. You just reminded me, can we buy it desperately when the stock price is low in the future?
Why do many listed companies make their market value so high? Just to make money, then I don’t rely on capital increase, we rely on dividends. The purpose of buying stocks is obligation. I didn’t expect to make money in the stock market, so what is willing to give up? You must give up before you can get it.
For the problem of low market value, how do we raise the market value or let it develop? I believe that for investors who buy Gree shares, we are always two words, commitment and responsibility. Thank you.
Tan gree mobile phone
Talking about Gree mobile phone, Dong Mingzhu said, "My growth in performance proves that my mobile phone is not unsuccessful … I believe Gree mobile phone will be successful. When you get our dividend, you should buy a Gree mobile phone to support us. "
It is said that Gree’s net profit is 26 billion
At the shareholders’ meeting, Dong Mingzhu said: In 2018, we forecast to achieve 200 billion revenue. I served for two terms and achieved sales income of 920.98 billion yuan. After that, some shareholders asked how much net profit was realized in 2018. Dong Mingzhu said: In 2018, Gree Electric’s after-tax net profit was more than 26 billion.
However, this move triggered market doubts and was suspected of violating the information disclosure management measures of listed companies. Analysts said: If the error is larger than 26 billion yuan, it is suspected of misleading. If 26 billion yuan is similar, it is suspected of revealing inside information in advance.
Mi Mei: It’s a lie to get electricity once a night.
Dong Mingzhu said that she once went to a meeting in the province, and Li Dongsheng said that she would advertise every time she spoke. In response, Dong Mingzhu said that if the air conditioner is good, Li Dongsheng can advertise if it wants, and Gree is honest, unlike the beauty of electricity once a night, which is a lie.
"With the economic downturn, we are more optimistic about the future development, and Gree Electric will still maintain a growth rate of more than 10% every year."
About Gree Industry Plate:
"Air conditioning will always be Gree’s main business"
Mobile phones are one of the four major industrial sectors in Gree’s layout.
Gree’s four major layouts, in addition to air conditioning, also include household appliances (kitchen appliances, washing machines, refrigerators, etc.) and high-end equipment (intelligent equipment, industrial equipment), CNC machine tools, etc.), communication equipment (Internet of Things equipment, smart phones, chips, big data).
Regarding Gree’s four major sectors, Dong Mingzhu said, "We are very optimistic about smart equipment. No matter how big the market is, no matter how good it is, whether you want it or not, it is not your decision, the user has the final say, and we are very confident. Finally, it depends on the strength. "
"Air conditioning will always be Gree’s main business, and the status of air conditioning boss will not change in the next decade." Dong Mingzhu said.
As for the refrigerator, Dong Mingzhu bluntly said that Gree is not the boss, nor are the second and third children. "(Share) is still very small, but we have this kind of spiritual support, and there is no reason not to do it well."
You are a fool without my refrigerator.
"The profit is 26 billion after tax, and it is more than 26 billion. I don’t know how much. Second, my scale has grown, and my profit margin has decreased. I think it is normal, because my overall profit this year has increased by several billion compared with last year. Second, I am doing chip research and adding a lot of R&D equipment, which requires investment. Third, the growth of the main business, where is the room for air conditioning growth, and the future era of intelligence is the new market. I believe that this new market is determined not only by real estate, but also by consumer demand. The second one is commercial air conditioning. Our commercial air conditioning is silent and quiet, which is our advantage. And more energy-saving. This is Gree’s market. "
"With the arrival of the era of smart people, how can there be no market? The growth space will be very large. You are a fool if you don’t use my refrigerator. It doesn’t freeze at MINUS 5 degrees. Don’t you use it? The positioning of the air conditioner boss will not be shaken, but it does not mean that other things will not become the boss in the future. "
"The third is intelligent equipment. Don’t take me as a god. I believe that the development of Gree Electric needs no rumors. Our enterprise is responsible for society, and we will know our mission and responsibility ourselves."
Can’t understand Xiaomi’s culture
"For Xiaomi, every enterprise has its own culture, so Gree has its own culture. As for what culture Xiaomi is, I don’t understand it now. Don’t worry anyway. "
Oaks digs people from me every day, even workers.
"Don’t tell me about oaks. Gree installs more than 70,000 units every day. From the perspective of the number of installations, we think that Gree’s operation is very optimistic. Second, why don’t you mention Ox? He’s worse than beautiful. Because beauty used to dig people here, but now it doesn’t dig. "
"Now Oaks digs people from me every day, even the workers dig, and even my people have to change their names and surnames when they go to him. This is my mood now, stealing our technology and practicing fraud."
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