Gree Electric temporarily dismissed the placard alarm. Dong Mingzhu reiterated that he would build a car anyway

　　In the past six months, Gree has experienced a thrilling scene. After the unsuccessful acquisition of Zhuhai Yinlong and the termination of the employee stock ownership plan, Gree was attacked by "barbarians". After the invasion of "barbarians" was "denounced" by all walks of life, Gree finally lifted this crisis recently.

　　On December 9th, Qianhai Life Insurance issued the Statement on Investing in Gree Electric, saying that it will not increase its holdings of Gree Electric stocks in the future, and will gradually withdraw according to market conditions and investment strategies, which also means that Gree Electric is at risk of being listed.

　　However, Miss Dong’s style remains the same. She said that she would insist on leading Gree into the field of new energy vehicles. On December 10th, at the "2016 (15th) Annual Meeting of Chinese Business Leaders", Dong Mingzhu, Chairman of Gree Electric, stated that Gree Electric was determined not to change its cross-border new energy vehicles.

　　A person close to Dong Mingzhu said: "Dong Mingzhu’s style is a matter of decision and will not be changed easily. Gree may have just experienced a hurdle in building a car."

　　The "placarded" alarm was temporarily lifted.

　　On the evening of December 9, Qianhai Life Insurance announced that it would no longer increase its holdings in Gree Electric and would gradually withdraw from it in the future. At this point, Gree finally temporarily lifted the "being placarded" alarm.

　　Qianhai Life Insurance said that it recognized and was optimistic about the future development prospects and investment value of Gree Electric, so it began to invest in Gree shares as early as 2014, and bought and sold Gree shares based on the analysis of the market and Gree fundamentals at different times.

　　In fact, during the period when Qianhai Life Insurance held Gree Electric, the more Gree was invaded by barbarians, the clearer the pace of Qianhai Life Insurance’s retreat.

　　During the eight trading days from the resumption of trading in Gree Electric on November 17th to November 28th, Qianhai Life Insurance purchased a large number of Gree Electric shares, and its shareholding ratio rose from 0.99% at the end of the third quarter of this year to 4.13%, and its shareholding ranking rose from the sixth largest shareholder to the third largest shareholder, just one step away from the 5% placard.

　　On December 2, this series of actions of Qianhai Life Insurance was concerned by Shenzhen Stock Exchange, and Shenzhen Stock Exchange sent a letter to Qianhai Life Insurance to inquire about related matters. Three days later, Qianhai Life Insurance responded that as of the close of December 2, the company and concerted parties held less than or more than 5% of Gree Electric shares. Although Qianhai Life Insurance made it clear that it would not participate in Gree management, it has not responded positively to whether to continue to increase its holdings of Gree Electric. Regarding the further increase or decrease plan, it said: "It will be comprehensively considered according to the overall market situation and the business development of Gree Electric."

　　Since then, Gree has been caught in the risk of being "placarded", and its time of "barbarian" invasion has been constantly fermenting, which has caused many media to report.

　　Recently, at the first member congress of the second session in asset management association of china, Liu Shiyu, chairman of the China Securities Regulatory Commission, angrily denounced "barbarians". "It is not acceptable to use improper money to engage in leveraged buyouts, and the behavior will change from strangers at the door to barbarians and finally become robbers in the industry."

　　On December 5th, Dong Mingzhu also shouted to "barbarians" from a distance: Gree Electric, as a manufacturing enterprise, will not affect itself because of other people’s capital changes, and will continue to focus on building creative enterprises in the future. "If they become saboteurs made in China, they will become sinners," she said.

　　Subsequently, Qianhai Life Insurance received a supervision letter from the China Insurance Regulatory Commission, requiring it to ban the declaration of new products within three months from that day, and at the same time suspend the development of new universal insurance business; Reduce the proportion of products with short and medium duration. On December 7, the China Insurance Regulatory Commission sent an investigation team led by the Ministry of Development and Reform to Qianhai Life Insurance.

　　Insiders believe: "Qianhai Life Insurance products have been concentrated on universal insurance, and the suspension of this business by the regulatory authorities will greatly affect the capital flow and performance. Qianhai Life Insurance promised to withdraw from Gree Electric, which was a compromise made under the oppression of all parties. However, in the short term, there won’t be any risks for the time being ‘ Knock on Gree’s door ’ 。”

　　Earlier, it was reported that Gree had brewed an employee stock ownership plan, which was a move to deal with the invasion of "barbarians". However, although this method failed to work, Gree survived this crisis temporarily under the "protection" of all walks of life.

　　Continue to build a car.

　　Previously, in Gree’s "Car Building Campaign", together with the employee stock ownership plan, there was also a 13 billion yuan acquisition plan. In this plan, Gree plans to increase 10 billion yuan to promote project construction, so as to enter the new energy automobile industry. However, in the end, the plan of raising matching funds with a fixed increase of 10 billion yuan was rejected by shareholders. On November 16, Gree Electric announced the termination of planning to issue shares to purchase this asset.

　　Although Dong Mingzhu doesn’t have to worry about Gree Electric becoming the "second Vanke" now, her determination to push Gree to continue to build cars hasn’t changed. On December 11th, Dong Mingzhu said that Yinlong has advanced technology and a bright future. If the acquisition is successful, it will become a billion-dollar enterprise. Gree will also be a new energy vehicle. "Diversification does not necessarily fail, and it is not necessarily successful to do only one business. The key lies in whether you are focused."

　　Since Gree announced the acquisition of Zhuhai Yinlong, the controversy in the industry has not stopped. Gree Electric’s car-making is also regarded by some outsiders as an adventurous attempt of its diversified exploration. However, Dong Mingzhu has not been influenced by the outside world, and it has always held a firm attitude towards Gree’s car-making: Gree must cross the border.

　　Dong Mingzhu said that Gree Electric’s cross-border new energy vehicles are more optimistic about the advanced technology of lithium titanate battery owned by Zhuhai Yinlong, and not just for the second billion-dollar revenue of Gree. (Reporter Jia Li)