Gree is still looking for the bottom, and its market value has fallen below the $200 billion mark.
Recently, there are market rumors that "Dong Mingzhu's secretary" Meng Yutong was fired, and a stone stirred up thousands of waves. On May 2, Meng Yutong responded on his social media that he was working honestly and did not update for a long time, causing misunderstandings.
So, why is Meng Yutong so concerned by the market? What are the rumors about his dismissal? Will it be cultivated into a second Dong Mingzhu in the future?
First of all, Meng Yutong's popularity is because of Dong Mingzhu's words at the Manufacturing Leaders Summit in November 2021 to train Meng Yutong to become the second Dong Mingzhu.
At that time, this sentence was understood by the market as Dong Mingzhu wanted to cultivate it as a successor. So the market has given Meng Yutong a deeper meaning, that is, to "expect too much" from him. Then Dong Mingzhu did not explain it at a deeper level.
However, after the tide recedes, we can clearly see that for a manufacturing company, there is an essential difference with the Internet company, and its leader role is that of a veteran who has been deeply involved in the industry for many years, who must not only be very clear about the whole process of the manufacturing enterprise, but also have enough "prestige" to convince other management of the enterprise.
As we all know, Dong Mingzhu belongs to the absolute authority faction in Gree, and Meng Yutong wants to get the recognition of most people, according to the training path of manufacturing enterprises, it will take at least ten years, so does Dong Mingzhu have so much time?
Second, why did Dong Mingzhu say this?
First, I think this is a gimmick in itself, that is, to increase the exposure of Meng Yutong, and the ultimate goal is to live stream the goods.
Second, let Gree get more traffic and fully create focus events, because the topic of this successor has enough weight, and the market and the media will pay full attention to it, for Gree and Dong Mingzhu, this wave of "free" publicity is really good.
It is worth noting that at the end of November last year, Meng Yutong opened a live broadcast account and began to dabble in live broadcasting. But so far, 102 works have been released, with 550,000 likes and 540,000 fans. Under the store linked to the Douyin account, there are 235 products with sales of 25,000+.
Such achievements, is really and Dong Mingzhu's own live broadcast with the sales gap is somewhat large, so the back may be Gree has other arrangements for it, because the release of works become less, then the market will naturally have rumors.
Third, at present, Gree is still in the bottleneck period, its current products are still mainly based on air conditioning, and Gree's old competitor Midea Group has long been on the road to diversification, so Gree needs more exposure, and its transformation also needs more "help", so Dong Mingzhu wants to copy more Internet celebrities to open up the situation for Gree.
Finally, when the influencer cultivation program does not achieve the desired effect, it is natural not to spend more effort on the individual.
On April 29, Gree Electric Disclosed its 2021 Annual Report, and the financial report showed that the company achieved revenue of 187.869 billion yuan in 2021, an increase of 11.69% year-on-year; achieved a net profit attributable to the mother of 23.064 billion yuan, an increase of 4.01% year-on-year; and basic earnings per share of 4.04 yuan. The Company intends to distribute a cash dividend of RMB20 to all shareholders for every 10 shares.
At the same time, Gree also disclosed the first quarter of 2022 financial report, the financial report shows that the company achieved revenue of 35.26 billion yuan, an increase of 6.24% year-on-year; net profit of 4.003 billion yuan, an increase of 16.28%.
On the whole, the main purpose of Gree at present is to strive to change the impact on its performance under the real estate cycle; increase efforts to promote the transformation of diversification, and Gree Electric Appliances will split more enterprises in the next few years, fully utilize the conditions of the capital market, and ensure the diversified breakthrough of the group.
I think that there is really no need to pay too much attention to the personal retention, as long as Dong Mingzhu's position is not affected, the influence of other individuals is limited for Gree Electric Appliances after all. Therefore, as for Meng Yutong, the outside world should downplay its influence publicity, after all, manufacturing enterprises, products are the best publicity.