The Gree new proposition: state-owned assets is responsible for all shareholders responsible

An air conditioning industry experience in administrative management, in charge of "Zhu Jianghong era" Gree, in the eyes of the investors, really not a good idea.
May 25, the site of the the Gree Zhuhai headquarters general meeting of shareholders, minority shareholders and institutional investors to vote against airborne Gree Zhuhai City, SASAC Deputy Director Zhou Shaoqiang joined Gree board of directors nominated. "You worry, I worry that this (the Zhuhai City SASAC identified Gree Group president Zhou Shaoqiang) is the Government, in advance did not consult with me." Face of the shareholders who questioned the original Gree Group Managing Director Zhu Jianghong so long admitted that his remarks will no doubt be the Zhuhai Municipal SASAC placed in an embarrassing position.
Nomination of directors and major shareholders of Zhuhai SASAC was whether in stark contrast, shareholders Yale University, Penghua Fund jointly recommended the Ping Jiyong, who experienced in the capital markets, Beijing Zhong Lun Law Firm partner, after the Director Pearl of the vote, overwhelmingly re-elected, this is also the QFII and the Fund for the first time the selection of directors and appointed.
Hot Dong Pearl era Gree will face challenges for Zhou Shaoqiang out, will once again raised the Gree "father and son struggle, but also become the focus of attention. One industry source as saying, in the eyes of the outside world, it seems that the largest shareholder Gree Group and other shareholders is the relationship between the opposite, in fact, not quoted Dong Pearl said recently its "For Gree, will all shareholders, rather than just a shareholder or a shareholder. "
Six years to adjust
Earlier Gree ownership structure, 100 percent holding of the Zhuhai Municipal SASAC Gree Group due to the dominance, Gree Group, Gree stake once as high as 60%. The state-owned holding a high proportion of the Zhuhai Municipal Government can directly influence the appointment of staff and even day-to-day operations.
Zhu Jianghong ago, Gree Group's most senior personnel arrangements Zhuhai City the SASAC led his predecessor, Gree Group Chairman Xu Rong and Ye Zhixiong airborne from. Single-handedly founded Gree Zhu Jianghong previously airborne Gree Group executives there has been a lot of conflict, and even broke out in 2005 caused a sensation at the time Gree "father and son struggle.
In August 2006, the appointment by the SASAC, Gree Electric chairman Zhu Jianghong concurrently Gree Group chairman, president and party secretary, first raised by the Gree from the leader. To strengthen corporate governance, Zhu Jianghong know that due to the dominance of this requires a high degree of innovation and to be actively involved in the adverse effects of market competition. After serving the Gree Group chairman, Zhu Jianghong repeated adjustment of the ownership structure Gree Gree Group, Gree stake has dropped to 18.22%.
Zhu Jianghong has been active in the introduction of new shareholders, in 2006, the second largest shareholder of the Gree River Beijing - Guarantee Investment Co., Ltd. was established. Among them, the the Jinghai the company's shareholders are all Gree air conditioning dozen regional sales company. Several times through the secondary market holdings Gree shares, River Beijing sea stake to 9.38%.
Meanwhile, as China's home appliance giant Gree quickly attracted QFII favor. In 2006, Yale University's investment fund in the second year after the get the QFII license, began large-scale participation Gree additional. Currently, Yale University, Morgan Stanley, easy to square up a variety of investment funds, UBS, Citibank, institutional investors and Gree Real Estate have become the first one of the top ten shareholders of the Gree. So dispersed equity front, the government does not have the ability to separate control of the company's operations. "Zhu Jianghong, compared with other state, Gree is a highly competitive state-owned enterprises, the difficulties of such state-owned enterprises is the need to think outside the box.
"Responsible for all shareholders"
Zhou Shaoqiang airborne from SASAC deputy director of the Zhuhai Gree Group president, hands-on experience in state-owned enterprise reform and restructuring is very rich, but Zhou Shaoqiang never had air conditioning or manufacturing experience is a typical administrative genius . " Whether there are genes that do industrial site in the May 25 general meeting of shareholders investors generally questioned. Its biggest weakness is not familiar with Gree.
Scene in the shareholders' meeting, some representatives said if the people in charge of the Gree not familiar with Gree, and the election results came out, immediately holdings. The results of the elections can be described as "Moments", the nominee director of the SASAC airborne Zhou Shaoqiang only won 36.60 percent of the votes, failed to enter the Gree new board of directors. The Zhou Shaojiang did not attend the general meeting of shareholders, antipathy lead to the scene of some of the shareholders.
For institutional investors, the past few years held by Gree Electric Appliances, also witnessed the Gree rapid growth in recent years, Gree air conditioning continue to force, to become the boss of the air conditioning industry. The Gree an increase of 49.17% in 2011. Institutional investors have been behind to give them high returns "with" Dong Zhu to airborne executives, the lack of a sense of security.
After the election, a people in the industry with Dong Pearl speculation again Gree's "father and son struggle in the discussion. Dong Pearl categorically denied such a possibility, as the chairman of Gree, the role is responsible to all shareholders, not just a shareholder or part of the shareholders.
The industry sources said the chairman of the board appointed by and Zhu Jianghong, Dong Pearl is Gree Group the Zhuhai SASAC is open, because they have seen a very good team is led by Gree to the best direction why should arrange a governance Gree Gree culture can not have a better understanding? "Such a big enterprise, to a president in order to seize power or infighting, which is very meaningful things, only we do not understand the Zhuhai Municipal SASAC." The industry sources said.
The new challenges of the Pearl Board
Gree has been to uphold the principles of innovation-driven, "I hope the next to go down this route come up with consumers trust the products, you can be invincible, and this left me with the greatest wealth." Zhu Jianghong the shareholders the scene said that of the General Assembly
In the appliance industry, Gree use fierce competition type of thinking to do businesses, or 100% will die. "Said Zhu Jianghong. Therefore, the origin of Zhu Jianghong of technology has always insisted on innovation, Gree each year to set a ceiling on investment in technological innovation, pioneering the Gree unique spirit of the industrialized. Zhu Jianghong to Dong Pearl left, is absolutely the best in the history of Gree.
Gree Electric Appliances, adhere to the professional line, the end of 2011, the inverter air conditioner market share has accounted for 37% of the total sales of the entire industry. The sales performance last year, about 35 million units, higher than its biggest competitors in the United States about 700 million units. 2011, Gree 80 billion in revenue and a profit of 5.2 billion yuan, ranking first in the Chinese home appliance industry. 2012, Gree revenue target to 100 billion.
The Gree new leadership team has been regulated. Dong Pearl served as the chairman of Gree Gree Electric Appliances, chairman and president, Huang Hui, Zhuang Pei Gree, vice president, Wang Jing Dong, vice president, chief financial officer, secretary of the Board.
At present, Gree Electric Appliances in the domestic market share has been as high as 37%, showing that Gree space for development in the country is very small, of course, Gree is also looking for a solution. Appliance industry are doing channel sink, Gree will sink to the three, four or even five, six of the market. "Said in February this year, Dong Pearl interview with this newspaper.
Boldly go out or will be a new growth point. According to the Annual Report of the Gree Gree overseas marketing accounted for 25% of the total. The Gree within five years, the performance of the target of 200 billion yuan Club, in the last five years, Gree how to enhance the performance of the international market to 50 percent of the total revenue will be one of the challenges.
In addition, the innovative spirit of Gree whether continuation is also a final exam. "Compared with international companies, Gree in innovation and are to follow the type, such as Japan developed 2HZ air conditioning, the Gree pushing 1HZ air conditioning, which are to follow the type of innovation, as a technology-oriented enterprise, must have its own pace of innovation to the leader from the followers. "long-term follow-appliance industry observers Liu Buchen said.
Dong Pearl, heavy responsibility not just Gree Gree Group's real estate business. Over the years, the performance of the Gree Gree Group is a dominant, Dong Pearl Gree Group, will inevitably require the separation of more energy in the whole group level corporate governance, which the Pearl Board said, will also be a big challenge.