In 2016,The story with Yinlong officially opened.After the shareholders’ meeting rejected the plan to buy Yinlong, Dong Mingzhu showed extraordinary determination.She believes in the future value, and decides to invest 1 billion yuan by herself, and jointly invest 3 billion yuan in Yinlong.Persistence stems from confidence in bus and lithium battery manufacturing business and firm belief in the development prospects of new energy vehicles.In the face of many difficulties, Dong Mingzhu did not give up his dream of building a car, and his persistence was admirable..
After Yinlong was acquired, it did not develop rapidly as Dong Mingzhu hoped. As of June 30, 2024, the total liabilities reached 24.786 billion yuan.The car-making business faces many difficulties.Among them, poor sales are particularly prominent. In 2022, Gree Titanium sold 1,789 buses, far below the leading enterprises in the industry. The technical route is also controversial. Gree Titanium is chosen as the battery technology, although it has the advantages of fast charging, high safety and long cycle life.However, due to its low energy density and insufficient endurance, it is difficult to be used in home.
Recently,The establishment of Shanghai Science and Technology Company once again demonstrates Dong Mingzhu’s firm determination to build a car.. Despite the outstanding new debt, Dong Mingzhu still ventured forward. This adventurous spirit stems from the optimistic view of the new energy automobile market, and also reflects its courage and responsibility as an entrepreneur. In the new stage, Dong Mingzhu will face more challenges and opportunities. It is necessary to solve technical problems, improve product competitiveness, expand market channels, and seek to turn losses into profits in car-making business.Despite the ups and downs, Dong Mingzhu’s persistence and determination make people look forward to the future.
Gree, under the leadership of Dong Mingzhu, has a unique consideration in the field of car manufacturing.Gree not only undertakes the heavy responsibility of creating the second growth curve for the company. After Dong Mingzhu took over Gree in 2012, it was implemented, and after five years of acquisition, it was finally merged into the ranks of holding subsidiaries in 2021.Officially renamed Gree Titanium. The internal business dispute surrounding Zhuhai Yinlong has not been cut off since the acquisition, and Dong Mingzhu firmly believes in the correctness of this decision. Gree’s car-making is related to her management correctness as a professional manager. Dong Mingzhu’s diversification strategy attempts to cover mobile phones, chips and other fields, but the results are limited.Sales are flat.Although I had high hopes, I still can’t open up the market. In terms of chips, although it is claimed that 50 billion yuan will be used to incite the industry pattern, it is still only applicable to traditional household appliances such as air conditioners, which is not far from the chips needed by smart cars. Nevertheless, Dong Mingzhu firmly believes that trial and error is the only way to find the right direction.Gree is involved in the research and development of auto parts between vehicle manufacturing and parts business, but its main energy is still focused on technology.
Home appliance companies such as,, and have different strategies in the field of car making.. Midea established Guangdong Weiling Auto Parts Co., Ltd. in 2018, focusing on auto parts. The calculation shows that the domestic electric compressor market will reach 18 billion yuan in 2025 due to the increase of permeability; The value of a single thermal management system is about 6000 yuan, and the corresponding internal sales level will rise to 54 billion yuan in 2025. Beauty is to see this market space.Decided to focus on thermal management parts.Its product line covers key parts of new energy such as motor drive system and thermal management system. For example, the R134a electric compressor developed by Midea, as the world’s first mass-produced 800V and 12000rpm high-speed electric compressor, has been put on the bus.
In March, 2021, it acquired the equity of Japan’s third electric control company, a global supplier of automotive air conditioners, and formally set foot in building cars, positioning itself as a supplier of service OEMs. Haier was founded. Although there are rumors of building a car, Haier denies that it will launch a car and focus on building an industrial Internet sub-platform with auto companies. Another home appliance enterprise that ventured into vehicle manufacturing, with the founder at the helm,He gave Skyworth to Kaiwo Automobile, launched "",and became a product spokesperson with remarks such as "New energy vehicles are home appliances with wheels".
Dong Mingzhu led Gree to expand outward from the traditional air conditioning field.Get involved in many seemingly unrelated fields. Sales in the field of mobile phones are flat. Although Dong Mingzhu has not given up and is still trying to attract consumers, young people still prefer brands such as OV. Small household appliances market development efforts, but compared with competitors such as Midea and Haier, and brand influence needs to be improved. The field of new energy is the focus of diversification strategy. Since the acquisition, Gree has continuously invested in the business of new energy buses and lithium titanate batteries. Dong Mingzhu also pays attention to medical health and the track of prefabricated dishes. Although the prospects in these areas are uncertain,Dare to try to reflect the positive exploration of Gree’s future development.
In order to enhance the competitiveness of ice washing and household appliances businessDong Mingzhu announced the establishment of an independent refrigerator, washing machine and household appliances sales company in each province. This move marks an important step in Gree Electric’s diversified development. By setting up independent sales companies, Gree Electric can better integrate resources, improve operational efficiency and market response speed. Independent sales companies have more autonomy, can formulate accurate market strategies according to market demand and competitive situation, and promote rapid business development. The investment of R&D personnel provides strong support for diversification strategy.At present, Gree has more than 15,000 R&D personnel to help technological innovation and product upgrading.
In addition to that field of traditional household appliances and new energy, medical health and prepare vegetables,Dong Mingzhu set his sights on the wine-making equipment industry. It is reported that Gree has applied for a patent and is ready to enter this new field. This move shows the strategic determination to diversify and expand. Although the brewing equipment industry is far from Gree’s traditional business, Dong Mingzhu has seen the market potential. With the improvement of living standards, people’s demand for high-quality alcohol continues to grow.Bring broad development space for the wine-making equipment industry.With technology research and development, manufacturing and brand influence, Gree is expected to occupy a place in this industry. However, attempts in new fields face many challenges, such as fierce market competition, high technical requirements and diversified consumer demand.Dong Mingzhu needs to lead the team to give full play to its own advantages, overcome difficulties and achieve new breakthroughs in diversification strategy.
Dong Mingzhu has clear and strict requirements on the ability and quality of successors.Successors need to have the idea of serving the public, let go of themselves, and can’t benefit their relatives and friends because they have power. This reflects the emphasis on corporate dedication. Regardless of state-owned enterprises or private enterprises, successors need to have the idea of serving the public, because the fate of enterprises is closely related to the country.Dare to tell the truth and do practical things are also key requirements, and successors need to be highly responsible for the enterprise.Really make suggestions and put them into action for the development of the enterprise. It is indispensable to respect the system and have a sense of risk. Successors should strictly abide by the rules and regulations, and keep keen insight and ability to cope with risks. Dong Mingzhu made it clear that,The selection of successors is not based on the relationship between relatives and friends, but only on personal ability, which shows the fairness and objectivity of the selection process.
At present, Dong Mingzhu has not found a suitable successor,Bring uncertainty to the future development of Gree. She had hoped for several internal candidates, but after the release of power, she found that they did not meet the requirements. Some people lack the ability to control and cannot lead effectively; Some people get lost in the face of power; Others regard power as a personal platform, not as. These problems make Dong Mingzhu more cautious about the selection of successors. She publicly responded to the question of succession,Emphasize that we really want to train successors,However, successors need to work hard and identify with Gree culture. Candidates who meet these requirements have not yet appeared.Gree faces the challenge of inheritance. As a small salesman, Dong Mingzhu has grown into a business leader, and his love and contribution are obvious to all. Over time,