For a long time, Dong Mingzhu's car construction has been considered by the outside world to be one of her few losing moments in the mall. For this investment, Dong Mingzhu lost his position as chairman of the board of directors of Gree Group, hollowed out his savings, and used his contacts to pull In Wang Jianlin and Liu Qiangdong. However, as a result, we all know that Wei Yincang not only poked Dong Mingzhu with a large amount, but also threw dirty water on her when he fled overseas, and finally the two of them confronted the court, or Gree stood up to support Dong Mingzhu.
Because of this, most people in the outside world believe that Dong Mingzhu's car-making plan will be "aborted" like making mobile phones. What I didn't expect, however, was that things weren't that simple.
Since entering 2021, we can clearly feel that the new energy market seems to be getting more and more lively. Countless new energy vehicle companies broke ground, Dong Mingzhu's "old rival" Lei Jun even announced that he wanted to build a car, and then Xiaomi Automobile Company was established, Lei Jun ran around looking for cooperation, and invested in dozens of car-making related enterprises. Coincidentally, foxconn has also released its own electric vehicle brand, and the new energy industry has ushered in countless successful entrepreneurs across the line, which proves the wireless prospects of new energy.
Dong Mingzhu also invested in new energy vehicles, and when she discovered the business opportunities in the new energy automobile industry, she even predates Lei Jun. Five years ago, Dong Mingzhu made a desperate bet and invested all her property in Yinlong, when she thought that Yinlong's silence was only because she was not born at the right time, it was gold buried in the sand, and she was a gold digger. Dong Mingzhu, who deeply believes that Yinlong will rise in the future, pulled Wang Jianlin and Liu Qiangdong and others together to invest 3 billion yuan in Yinlong, which increased the valuation of Yinlong in a flash.
Not only that, Dong Mingzhu invested in Yinlong many times in his personal name until he became the second largest shareholder of Yinlong. At this time, Dong Mingzhu believes that he has seized the tide of the times, and Yinlong will surely become the "king" of the new energy automobile industry. Then Dong Mingzhu fell an unprecedented big heel. Yinlong's failure to list, high-level infighting, arrears of payment, founders fleeing, etc., all kinds of behaviors are all declaring Yinlong unreliable. In particular, the founder of Yinlong, with a clever mouth, packaged lithium titanate into high-end technology that can catch up with BYD, and it is precisely because of the blueprint depicted by Wei Yincang that Dong Mingzhu made up his mind to invest.
In fact, the high-tech technology that Wei Yincang confidently took out was just a trap, there was no way to land, it was bought by Wei Yincang from a small company delisted in the United States, and the total price was less than 400 million yuan. When Wei Yincang met Dong Mingzhu, Yinlong's valuation was about 13 billion yuan, but the year before they met, Yinlong's valuation was less than 2.5 billion yuan, and under the operation of Wei Yincang, Yinlong created an exaggerated increase from 2.5 billion yuan to 13 billion yuan in one year. In this way, Wei Yincang easily took away Dong Mingzhu's investment of billions of yuan at a cost of less than 400 million yuan.
In order to support Yinlong, Dong Mingzhu used his influence to stand on the platform many times, and even released the words "Yinlong battery is not bad for ten years, and it is bad to count me", which is enough to prove Dong Mingzhu's trust in this high-tech technology. But what Wei Yincang did not say is that lithium carbonate technology has no way to commercialize at all, it is just a technology that stays in the theoretical stage. Not to mention that Wei Yincang himself does not intend to engage in research and development, he is only used to deceive investment, so Dong Mingzhu's investment is difficult to achieve the results she expected. With dong mingzhu's investment chips getting heavier, more and more Gree employees have penetrated into the board of directors and management of Yinlong.
Therefore, Wei Yincang lost his voice in the company he founded, which is also a major reason for him to run away. The turning point of the whole incident was an investment plan by Wei Yincang, who wanted to invest in an American company, but was ready to privately remit $50 million to someone else's account without the consent of Dong Mingzhu and the board of directors. But Dong Mingzhu has gone deep into the management, and she intervened halfway and directly transferred the money back, which also made Wei Yincang's acquisition plan fail.
As a result, the contradiction between the two people escalated, and at this time, the new energy was paid by the supplier because of the decline in orders, the factory shutdown and other issues, and Wei Yincang directly patted his ass and left. At this time, Dong Mingzhu realized that she had been deceived, and she sued Wei Yincang in court with a complaint.
However, Wei Yincang had fled to Hong Kong at this time, and he said in an interview that Dong Mingzhu wanted to suppress valuations, encroach on private enterprises, and push the contradiction on Dong Mingzhu's own head. In this chaos, in the end, Dong Mingzhu took over the mess of Yinlong. Throughout 2020, Dong Mingzhu frequently appeared on the auction field, but Yinlong was still unpopular, and finally Dong Mingzhu increased his holdings again, and Yinlong became a subsidiary of Gree.
Fortunately, in recent times, Yinlong has had some obvious improvements, and yinlong can still rank fourth in the sales list of new energy buses in the first three quarters of 2021 in China. In September, Yinlong ranked among the top three, an increase of 180% year-on-year, the most significant increase in similar enterprises. However, Gree's revenue is far behind midea and Haier, and it is clear that Miss Dong still has many problems to solve.