Evaporated 13 billion! Dong Mingzhu has not changed, but Gree is old

Gree "Iron Lady" Dong Mingzhu has been a little annoying lately.

Since the public conflict with the former assistant Meng Yutong, the noise surrounding Dong Mingzhu and Gree has never stopped.

First, the conversation between him and Wang Ziru went viral and became a joke after tea and dinner on the whole network;

After that, he said that "young people only want to make more money, which is no different from the walking dead", which was criticized by the whole network;

It was not enough to be complained about, Gree's stock price gave Dong Mingzhu a hard stab at the end of the year.

At the end of December 2023, Gree's share price fell 7.09% overnight, and its market value evaporated by 13.2 billion.

Some people say that this is Dong Mingzhu who said too much cruelly, and finally smashed his own foot.

In fact, in terms of saying cruel words, Dong Mingzhu has never changed.

In order to trample on competing products, Dong Mingzhu said that "beauty is a liar, Haier fakes the media of national government agencies, Hisense Kelon has collapsed, and Zhigao has no interest." "Such cruel words.

When making mobile phones, he also declared, "Today I can boldly say that my mobile phone is the first in the world." ”

Although Dong Mingzhu's cruel words were ruthless at the beginning, he failed to overturn himself, and he also gained a lot of support.

Today's Dong Mingzhu, but because of the sentence "I trained you... If you pat your ass and leave, then your next unit will at least compensate me for my training fees. "I was chased and sprayed by netizens.

Dong Mingzhu, the master of cruel words, why was he so attacked this time?

The most painful lessons of 2023:

Mistakenly touching the scale of the worker

Dong Mingzhu's character "collapsed", but in fact, he provoked two groups of people who should not be provoked.

This first wave is the migrant workers who once regarded her as an idol and a benchmark for a good boss.

In terms of personal experience, Dong Mingzhu climbed from the bottom of sales to the top of Gree step by step, which is indeed very inspirational and gives many workers confidence.

Dong Mingzhu, who is in a high position, has never treated employees as outsiders.

In 2018, Dong Mingzhu announced that as long as he worked in Gree until he retired, he would give him a set of two bedrooms and one living room.

At that time, Gree had more than 80,000 employees, which was not a small number.

As a result, Gree really spent 2 billion to build the Pearl Apartment, and all employees can move in with their bags.

As a representative of the National People's Congress, Dong Mingzhu is also willing to be a migrant worker, and has made many fan-attracting remarks.

For example, the tax threshold is raised to 10,000 yuan, and five insurances and one housing fund are paid according to the salary amount.

For workers who are getting more and more difficult, Dong Mingzhu's suggestions have all hit the heart without exception.

At this time, Dong Mingzhu is not an exaggeration to be called a "conscientious entrepreneur".

However, at the end of last year, Dong Mingzhu's character made a 180-degree turn.

The reason for the reversal is inseparable from the "successor of Gree" Meng Yutong, who has resigned.

When Meng Yutong joined Gree, he was packaged as Dong Mingzhu's heart.

She is not only known as "the next Dong Mingzhu", but Gree also set a flag for her that "she must succeed in 5 years".

But Meng Yutong's sudden resignation not only disrupted all of Dong Mingzhu's plans, but also exposed her old background.

After leaving the job, Meng Yutong revealed that his basic salary was only more than 5,000 at that time, and he often worked overtime, which attracted the empathy of countless workers.

Even the hand-picked "successor" was squeezed like this, and Dong Mingzhu's image as a "people's entrepreneur" began to collapse.

For Dong Mingzhu, how much she praised Meng Yutong before, and how much she broke the defense later.

Dong Mingzhu even let himself go and scolded him in public many times.

At Gree's college student induction party in 2023, Dong Mingzhu said that she took a fancy to Meng Yutong's "diligence" and chose her as a secretary, but she "couldn't write a word...".

even sprayed her with "just thinking about using the Gree platform to be an Internet celebrity herself, which had a bad impact on the company." ”

It is not enough to scare Meng Yutong, Dong Mingzhu even opened the "daddy mode" and began to teach young people to do things.

Remarks such as "young people should not be money-centric" and "just thinking about making more money is no different from the walking dead" have made countless migrant workers angry.

The last sentence "employees should be given training fees when they leave the company" touched the reverse scale of the workers.

Young people who are tired of involution refuse to be instilled with this "daddy-flavored poisonous chicken soup" again.

As a result, Dong Mingzhu, who likes to educate young people, was sprayed on the hot search by migrant workers.

Even Li Guoqing couldn't help but come out to join in the fun, and persuaded Dong Mingzhu to "save face for young people and leave a room." ”

The workers are very confused, how can this "people's entrepreneur" who once defended the workers everywhere be "exposed" in the blink of an eye.

Dong Mingzhu, who has always been known for being "ruthless", is ruthless to the wrong person this time.

Gree's bad move: annoying consumers

Compared with offending the workers, Dong Mingzhu's more serious problem is to provoke consumers.

Gree's products have always been known for being reliable and durable, but the recent new products have made it difficult for consumers to accept.

The first is an air conditioner that is rumored to have been designed by Dong Mingzhu himself.

This air conditioner, called "Gree Rose", is the fist product and sincerity of Gree Company, and has been updated to the third generation so far.

Dong Mingzhu proudly introduced this air conditioner to consumers, and she did not hesitate to praise it, she also said, "This air conditioner is for newlyweds, and it can also be used for gold and silver weddings." ”

Click on it to take a look, this "90s retro" style air conditioner can be called an aesthetic butcher.

The exaggerated decoration of the petals, coupled with the function of chicken ribs, makes young people call blind.

If the shape and design are just the difference in aesthetic taste, then the price of this air conditioner has really stabbed consumers.

The lowest price of 13,529 and the highest price of 32,999 yuan is really unacceptable to consumers.

Not only was the aesthetics slaughtered, but even the wallet was stabbed, and the complaints about this air conditioner on the Internet were overwhelming.

But Gree officials not only did not deal with it in a low-key manner, but responded to netizens "This air conditioner is a work of art for all users..."

Compared with the "soil" of the product, it is more difficult for consumers to accept the soil without knowing it.

In the last year alone, Dong Mingzhu brought consumers a shock, far more than a local air conditioner.

At the end of last year, Dong Mingzhu claimed when introducing a refrigerator from Gree, "Put vegetables in the Gree refrigerator for 20 days, and they are fresher than the ones you just bought." ”

It's not that everyone doesn't trust the Gree refrigerator to keep fresh and refrigerate, but it's really hard to imagine that the refrigerator can "come back to life".

This is not the first time that Gree's products have been complained about, as early as when Gree announced that it was going to make a mobile phone, netizens witnessed it once.

In 2015, Dong Mingzhu swore that "Gree wants to make mobile phones, and the sales volume will reach 100 million." ”

As a result, the mobile phone made was a big surprise.

The original Gree mobile phone in 2015 was complained by users after it was launched, "799 configuration, but there is a price of 1599." ”

Of course, the biggest slot of Gree's mobile phone is that Dong Mingzhu has set his image to the mobile phone screen, which cannot be replaced.

In the face of one-sided complaints, Dong Mingzhu still remained calm as always, she believed: "Gree air conditioning has only had a profit of 20 billion yuan in 20 years, and the time for mobile phones is still long." ”

But self-confidence can't save Gree mobile phones, in April 2020, Gree mobile phones, which have launched 6 generations, officially announced that they will not be updated in the future.

If the failure of the mobile phone is concerned, it can also be attributed to Gree's unfamiliarity in exploring new fields.

The refrigerator and the "rose air conditioner" were ridiculed by the group, and it was Gree who overturned in a familiar field.

The reason why Dong Mingzhu angered consumers is very simple: to impose his understanding and preferences on consumers.

In 19 years, Dong Mingzhu once said such a sentence: If you don't use Gree, you are a fool!

At the time, this sentence could be seen as confidence in Gree's high quality, but now, it seems particularly ironic.

Standing on the opposite side of consumers is always the biggest minefield for enterprises.

Cruel words turn into jokes, and you can't dump all the blame on Dong Mingzhu

Behind Dong Mingzhu's "cruel words turned into jokes", it is actually Gree's unsatisfactory performance in recent years.

After all, the strength of the company is the confidence to say cruel words.

In August last year, among the world's top 500 companies released by Fortune magazine, Gree Electric failed to make the list. This is the first time in 4 years that Gree has fallen off the list of the world's top 500.

As a traditional manufacturing giant, Gree, like competing brands such as Haier and Midea, is facing the problem of "seeking change".

The giants have turned the ship around and sailed in two general directions: diversification and Internetization.

Dong Mingzhu is particularly confident in Gree's diversified transformation, she said, "I think (Gree) has successfully transformed and realized the transformation from a single air conditioner to a full range of household appliances." ”

But Gree's reality is far from Dong Mingzhu's expectations, counting Gree's failures in recent years, in fact, he fell three times.

The first thing that stumbled Gree was the live broadcast business.

At the beginning of 2020, Gree was keenly aware of the outlet of the live broadcast business, and they quickly discovered the core gameplay of the live broadcast business: creating personal IP.

However, there is only one IP that Gree can get his hands on, and that is the backbone Dong Mingzhu.

Indeed, in the 8 months of 2020 alone, Dong Mingzhu participated in 13 live broadcasts, which brought Gree 47.62 billion yuan in sales, accounting for a quarter of Gree's total annual revenue.

The old sales championship can still be played, but in the long run, it will definitely be difficult to continue to expand the results. So, Gree invited the "successor" Meng Yutong.

But the wrong career arrangement and the instability of personal IP not only made Gree lose an Internet celebrity, but also greatly reduced Dong Mingzhu's personal image.

On the road of live broadcasting, Gree is deep in the quagmire.

Gree's second hurdle is blind diversification.

Gree's ambition for diversification began early on.

From mobile phones in 2015 to pre-made dishes in 2022, Gree continues to make efforts on many different tracks.

But in the end, the results were not satisfactory.

According to statistics in the first half of 2022, the revenue of Gree's non-air conditioning business only accounts for less than 28% of the total business revenue.

Gree's "side business" not only did not succeed, but also pushed Gree into the fire pit.

On December 19, 2023, Gree Electric announced the acquisition of Gree Titanium New Energy Co., Ltd. for 1.015 billion.

This move is regarded as a signal that Dong Mingzhu will continue to deepen the field of new energy batteries.

But shareholders did not buy it, as soon as the news came out, Gree's share price fell 7.09%, and Gree's market value evaporated by 13.2 billion yuan.

The innovative industries have pulled their hips, and Gree's traditional products are also in crisis.

In 2020, Gree's air-conditioning business revenue was 117.9 billion yuan, and in the same year, Midea's air-conditioning business revenue was as high as 121.2 billion yuan.

Source: Tiger Sniff

In the first half of 2022, Gree's air conditioning revenue also lost to Midea.

Today, Gree's annual revenue is only about half of that of Midea and Haier, and the gap between Gree and its former rivals is getting bigger and bigger.

In fact, Gree is not short of opportunities, last year's Hangzhou Asian Games, Gree successfully won the transport bus, venue air conditioning and other big projects, but Gree did not make a big fuss about it.

During the 2022 Qatar World Cup, Gree's figure also haunted near the stadium, but compared to the high-profile Hisense and Midea, Gree was almost silent, wasting the best advertising opportunity in the world.

It can be seen that there is nothing wrong with Gree's general direction, but the overly high-profile ambition and hasty execution have gradually derailed the overall rhythm.

A reporter asked Dong Mingzhu "Has Gree diversification failed?" What Dong Mingzhu got was that Dong Mingzhu still responded domineeringly, "In my dictionary, there is no failure!"

But the harder Dong Mingzhu is, the more difficult it is to hide Gree's anxiety.

Gree, he can't continue to hide behind Dong Mingzhu's cruel words.

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