Securities Times reporter Li Yingquan Kang Yin

　　The 68-year-old Dong Mingzhu was re-elected as the chairman of Gree Electric (000651), which also means that the female entrepreneur who has been in charge of Gree for many years will "work for another three years".

　　On February 28, the first extraordinary general meeting of Gree Electric Appliances in 2022 was held, and the proposal for the general election of the board of directors was successfully passed.

Dong Mingzhu, Zhang Wei, Deng Xiaobo, Zhang Jundu and Guo Shuzhan were elected as the new non-independent directors, and Liu Shuwei, Xing Ziwen, Wang Xiaohua and Zhang Qiusheng were elected as independent directors.

At the same time, Gree Electric's 2021 mid-term dividend plan with a scale of 5.537 billion yuan was also approved.

In the evening of the same day, Gree Electric announced that the board of directors agreed to elect Dong Mingzhu as the chairman of the twelfth board of directors of the company.

　　Dong Mingzhu was re-elected

　　With the successful passage of the re-election motion, it means that Dong Mingzhu will continue to be in charge of Gree Electric for three years.

In recent years, there have been frequent rumors of her retirement in the market, but the reality has not yet reached that stage.

　　From the list of the newly elected board of directors, 7 directors including Dong Mingzhu continued to be re-elected, and Deng Xiaobo and Zhang Qiusheng were added to the board seats.

Among them, Deng Xiaobo is currently the vice president and secretary of the board of Gree Electric Appliances, and Zhang Qiusheng is currently a professor at the School of Economics and Management of Beijing Jiaotong University, the dean of the National Institute of Transportation Development, and the director of the Chinese Enterprise Mergers and Restructuring Research Center.

　　Zhang Jundu and Guo Shuzhan, who were elected as directors, both represent the interests of Gree Electric's second-largest share, Tokyo Sea Company, which is the Gree distributor group; Zhang Wei previously served as the executive vice president of Gree Group, and Gree Group still holds about 3% of Gree Electric. shares.

　　Deng Xiaobo, 47, entered the election list of non-independent directors of the board of directors this time, bringing some new expectations to the market.

Compared with the average age of Gree Electric's board team over 60 years old, Deng Xiaobo looks quite young, and he is also the only candidate to join the board of directors among the five current vice presidents of Gree Electric.

　　The resume shows that from July 2015 to November 2020, Deng Xiaobo served as the chairman of Shaanxi Coal Chemical Industry Group Finance Co., Ltd.

Deng Xiaobo's image has been quite low-key since he took office as the vice president and secretary of the board of Gree Electric.

　　Thinking of a spin-off

　　"Gree Electric is currently paying dividends + repurchases, and there may be hundreds of billions of dollars. It can be regarded as a very high return among listed companies. As a conscientious company, Gree Electric can fulfill its due obligations within its ability." Talking about the dividend plan, Dong Pearl is very confident.

　　On the same day, the shareholders' meeting reviewed and approved Gree Electric's 2021 mid-term dividend plan with a scale of 5.537 billion yuan, as well as the "Shareholder Return Plan for the Next Three Years (2022-2024)" (referred to as the "Return Plan").

　　In fact, this dividend proposal has been included in the scope of return planning.

The return planning announcement stated that Gree Electric will distribute profits twice a year from 2022 to 2024, namely annual profit distribution and mid-term profit distribution.

On the premise that the company's cash flow meets the company's normal operation and long-term development, the company's total accumulated cash dividends from 2022 to 2024 will not be less than 50% of the year's net profit.

　　The high dividend return plan comes from Dong Mingzhu's confidence.

"The first confidence comes from the team. Our team is getting more and more healthy, and there is no phenomenon of lying flat. Our executives are clearly aware that power is responsibility and responsibility. The second confidence, you can see that we Gree's products have been put into the fight against the epidemic all over the country. In addition to the air conditioner field, Gree has covered all categories, and now it's time to harvest. If we are still a single air conditioner, it is likely to be a dead end. The third confidence is new energy In the field, the battery of Gree Titanium (formerly Zhuhai Yinlong), we have been holding on for a long time and have seen the market's approval. In the future, every household may have a demand for energy storage, and I think the energy storage market is very huge. "

　　Dong Mingzhu emphasized that investors should not buy stocks with a speculative mentality.

"Gree has made a three-year return plan and used long-term dividends to allow shareholders to continue to recover the principal in 10 years under the condition of long-term investment."

　　It is worth noting that Gree Electric's acquisition of Dun'an Environment has made significant progress recently. For the future capital operation of Gree Electric, Dong Mingzhu said that there is indeed an idea of ​​​​splitting equipment and other businesses.

"We hope that several major sectors of Gree Electric will be listed in the future, but there is a principle to make it clear. The purpose of listing is not to make money, but to release the brand value of the category."

　　Optimistic about the energy storage market

　　At the shareholders' meeting, Dong Mingzhu focused on Gree's layout in new energy, especially optimistic about the energy storage market.

　　"I personally borrowed debt to acquire Yinlong. Why did I do this? To see the future of energy storage, not just a country, but the direction of global development." Dong Mingzhu continued to be optimistic about Yinlong's lithium titanate technology, but Regarding the existing technical reserves, it is not yet time to disclose, "We will wait and see when we wait for the next (shareholders' meeting)."

　　In fact, Gree Battery already has a number of well-known customers.

Gree Electric said on the interactive platform a few days ago that Gree Titanium's customers in lithium iron phosphate energy storage and power batteries and other related products include Huawei, Lishen, Sichuan Changhong, China Tower and other companies.

At the same time, Gree-Ti New Energy has a complete vehicle product chain, with commercial vehicle products covering all models ranging from 6.8 meters to 18 meters. At the same time, it also deploys models in the fields of municipal vehicles, construction machinery, logistics vehicles, hydrogen fuel, and hybrid vehicles. The products are distributed in Beijing, Hangzhou, More than 200 cities and regions such as Chengdu, Guiyang, and Xiongan New Area.

　　However, the continuous increase in costs in recent years has also put Gree under pressure.

"The changes in the external environment in the past two years have indeed brought pressure to the company. As a home appliance company, we bear the brunt." Dong Mingzhu believes that changes in the real estate market and material price increases affect the focus of business operations.

　　"Real estate is not the most important thing, but the most important thing is the price increase of materials. The price increase of materials has exceeded our expectations since last year. The price of some materials has increased by 50%, some even 100%. But the home appliance industry is not soaring. If the price increases, the product may not necessarily (price increase), but even if we do not increase the price, we cannot cut corners. We will use technological innovation (cost reduction) under the premise of ensuring quality. "Dong Mingzhu said that the issue of technological upgrading is now more critical. , such as the chip neck problem.