Dong Mingzhu will have to work for another three years.

  Gree Electric released a series of announcements on the evening of January 24th, revealing that Gree Electric will hold an extraordinary general meeting of shareholders on February 28th, and review the proposal for the re-election of the board of directors. It is planned to elect Dong Mingzhu, Zhang Wei, Deng Xiaobo, Zhang Jundu, Guo Shuzhan, etc. as new A term of non-independent director, which means that Dong Mingzhu, chairman and president of Gree Electric, is expected to serve as chairman for another three years.

Analysts believe that the key to Dong Mingzhu's new tenure is to improve the efficiency of the air-conditioning business and find Gree's second growth curve.

  The sales volume of China's household air-conditioning market in 2021 will decline by 8.7% year-on-year. The addition of M&A experts to the candidates of Gree Electric Appliances is expected to help Gree to diversify.

Among them, Zhang Qiusheng, who is currently a professor at the School of Economics and Management of Beijing Jiaotong University, dean of the National Institute of Transportation Development, director of the China Enterprise Mergers and Restructuring Research Center, and an independent director of Jinergy Holding Shanxi Coal Industry, is in the list of candidates for the new independent director of Gree Electric.

Gree Electric also announced its shareholder return plan for the next three years. It plans to distribute dividends twice a year and the total cash dividends should not be less than 50% of the net profit.

  According to the data provided by Aowei Cloud (AVC) to the first financial reporter, in 2021, the online retail sales of household air conditioners in China will be 24.68 million units, a year-on-year decrease of 6.7%, and the retail sales will be 70.7 billion yuan, a year-on-year increase of 4.5%; offline retail sales 22.21 million units, a year-on-year decrease of 10.8%, retail sales of 82 billion yuan, a year-on-year decrease of 5.6%; omni-channel retail sales of 46.89 million units, a year-on-year decrease of 8.7%, retail sales of 152.7 billion yuan, a year-on-year decrease of 1.2%.

  According to Gree Electric's 2021 semi-annual report, air conditioners account for 73.79% of Gree's total revenue, while household appliances and smart equipment only account for 2.42% and 0.21% of Gree's revenue, respectively.

  A senior analyst in the home appliance industry told the first financial reporter that China's air-conditioning market will still have room for growth in the next three years. Since it is relatively close to the "ceiling", it is expected that the annual growth rate in the next few years will be 3%- Between 5%, the growth rate will fluctuate greatly.

Gree Electric's short-term goal is to explore a new channel model for the air-conditioning business and improve operational efficiency.

  "Gree Electric's medium-term goal must be out of its own second growth curve. The second growth curve may be "going overseas" or To B business such as new energy. It is expected that Gree Electric will continue to deploy in the future." The above analysts Said that the message conveyed by the board reelection is that the development of Gree Electric is still centered on Dong Mingzhu, and has not been interfered by the outside world.