This article is from WeChat public account:Tech planet (ID: tech618) , author: Ma micro Bing, Yang Jing Yi, from the title figure: vision China
“I never missed it.”
In the world of Dong Mingzhu, Gree is more important than himself.
” Gree needs a company that is sincerely willing to help Gree Electric’s development…….. This transaction will never accept the participation of barbarians.” At the investor meeting on May 22 this year, Dong Mingzhu was powerful. Said.
Figure | IC photo
In the curtain of the Gree Group’s mixed reforms, Dong Mingzhu issued a voice from time to time. Chairman Dong Mingzhu, Gree Group and Gaochun Capital’s three parties, the competition against Gree who came to control, reached its climax on November 11.
On October 28th, Gree Group issued a letter to the Judging Committee to conduct a comprehensive review of the two intentional transferees participating in the open call to determine Zhuhai Mingjun Investment Partnership (Limited Partnership) is the ultimate transferee. Information shows that Zhuhai MingjunThe fund manager behind it is Zhuhai Gaochun Equity Investment Management Co., Ltd. In other words, Gaochun Capital will become the largest shareholder of Gree Electric.
Checking the data: The ratio of equity to 2019-09-30
After six months of wrestling, the capital of Gaochun became the ultimate winner, only the final step of signing the contract. According to the announcement, the ultimate transferee must sign a “share transfer agreement” with Gree within 10 working days, that is, at the latest on November 11, Gao will complete the agreement.
However, at the last moment of the signing date, Gree Electric announced a paper, and returned to the initial state of the things that had been almost completely nailed. “In view of the unresolved issues in the share transfer agreement, Zhuhai Mingjun and Gree Group continue to negotiate, and both parties agree to postpone the planned signing date of the share transfer agreement.”
A long 10-day period, Gaochun did not come to Gree’s shares, but returned to the negotiation period. Following 2016, Dong Mingzhu has resigned as chairman, director and legal representative of Gree Group for the past three years. However, Dong Mingzhu, who still has absolute decision-making power over Gree Electric Appliances, remains a key player in the transfer of Gree shares.
Whoever becomes the ultimate clerk of Gree Electric’s 40 billion stake, everything is full of variables.
40 billion equity wrestling
All stories must be told from a notice from the Gree Group early this year.
On April 1, Gree Electric said that it received a notice from the controlling shareholder Gree Group that Gree Group plans to transfer some of the shares of Gree Electric Appliances held by the company, which may involve changes in the company’s control. A week later, Gree Group announced that it plans to transfer 15% of Gree Electric’s equity held by the company.
According to industry estimates, the equity transfer value is nearly 40 billion yuan, and the shareholders and actual controllers of Gree Electric Appliances may change after the transfer.
As the leader of the air-conditioning industry, Gree Electric has 15% control over a number of capitals, and has rolled up their sleeves to try. A media report said that an investment institution in order to participate in the Gree Electric Appliances Investor Meeting on May 22, asked the registration method the next day after Gree announced the announcement, and occupied a pit early. And Gree employees also reported that since April, many visitors have asked to visit Dong Mingzhu.
The rise of Gree is inseparable from Dong Mingzhu. Therefore, in order to successfully acquire equity, it is necessary to pass the Dong Mingzhu first. This is beyond doubt. What led to this triangular contradiction is the management of Gree Electric represented by Gree Group, Gaochun Capital, and Dong Mingzhu.
“This Gree Electric Mixing will introduce effective strategic resources for Gree Electric Appliances to further improve the governance structure of listed companies. After the buyer purchases the stock, the lock-up period is no less than 36 months,” Gree Electric expressed in the announcement. The requirements for the equity transfer. Zhuhai Mingjun also issued a written cooperation invitation to the management of Gree Electric Appliances in due course.
From the announcement on November 11, Gree Electric’s management has not accepted this invitation, and Dong Mingzhu, the core figure of Gree Electric’s management, has already expressed his attitude at the investor conference. Sincerely, reject the barbarians.”
The highly qualified Gao Yi Capital CEO Zhang Lei has already expected Dong Mingzhu’s personality and publicly stated that “let entrepreneurs sit in C position”, but at present it is not enough to impress Gree’s “Iron Lady” Dong Pearl.
From the previous acquisition case of Gaochun Capital, Zhang Lei may have intention to use the “Belle Model” to transform Gree Electric. In July 2017, Belle International delisted from the privatization of Hong Kong stocks. Gaochun Capital holds 57.6% of its shares and becomes the new controlling shareholder of Belle. Zhang Lei has carried out a two-year digital transformation and upgrade of Belle.
Before, Dong Mingzhu, who is quite vocal about the Internet and is more optimistic about the real economy, has now recognized the digitalization of enterprises. So according to industry analysts, Dong MingzhuThe contradiction with Zhang Lei lies in the dispute over the control of Gree. This 40 billion shares will affect the future direction of Gree.
Today’s Gree Electric Appliances, Dong Mingzhu can almost be said to be “a word of Jiuding”. Gao Gao will eventually influence Dong Mingzhu with a sincerity, or be regarded as a “barbarian” to expel, and all must look at the domineering Miss Dong. How to decide this time.
The hard wrist of “Iron Lady”
“Absolutely not allow capital to undermine the development of the company,” Dong Mingzhu said in an interview.
No one will regard this as a slogan released by Dong Mingzhu, because the two labels of domineering and toughness have always followed her.
In 1990, 36-year-old single mother Dong Mingzhu and Nanxia Zhuhai became a salesperson of Haili (Gree’s predecessor). She did not have any sales experience across the line, but she believed that she could do it if she tried enough. Two years later, Dong Mingzhu achieved sales of up to 16 million, which accounted for one-eighth of sales in Gree.
According to Gree’s internal rumors, Dong Mingzhu basically did not take annual leave, and her mind only works. “I will be in this position for a lifetime until there are more suitable people than me.” Dong Mingzhu, 65, is still in the front line of the battle, but the Iron Maiden’s “狠” is more than just For yourself, but for everyone.
After 2000, Gree Electric Appliances developed rapidly and contributed more than 90% of its business revenue to Gree Group. It is likely to become Gree’s long-term “cash cow” and the situation of “sub-strong father and weak” has been formed.
With the increasing brand effect of Gree Electric Appliances, Gree Group also tried to promote the development of other products through the popularity of Gree. After Gree Electric gradually developed and expanded, Dong Mingzhu always hoped to be isolated from Gree Group.
“If Gree does not call Gree, I believe that no one will pay more attention to it.” Dong Mingzhu once admitted in a television interview. For the Gree Group and Gree Electric’s “father and son” trademark dispute. Gree Electric also issued a statement: the use of “Gree small appliances” brand