Reporter Mao Ning
On February 19th, official website of Gree Group showed that Kang Hong had become the party secretary and chairman of the group. It is reported that the former chairman of Gree Group is Zhou Lewei, who succeeded Dong Mingzhu in 2016. Previously, Gree Group was the controlling shareholder of (), but at present, Gree Group holds 3.44% of the shares of Gree Electric (000651.SZ) and is its fourth largest shareholder; When Gree Electric was first listed, Gree Group’s shareholding ratio was as high as 60%.
Kang Hong became the chairman of Gree Group.
According to official website of Gree Group, Kang Hong has been appointed Party Secretary and Chairman of Gree Group. According to public information, Kang Hong was born in 1976. Before that, Kang Hong was the deputy secretary-general of Zhuhai Municipal Government, and was appointed as the deputy general manager of China Xiong ‘an Group Urban Development Investment Co., Ltd. as a temporary cadre selected by the Central Organization Department.
According to People’s Daily Online, during his more than one year in Xiong ‘an, Kang Hong not only participated in the construction of Xiong ‘an International Hotel project, but also participated in the construction management of Group G in Rongdong District of xiong’an new area, the delivery and property management of the first batch of resettlement houses in Rongdong District, and the business and industrial investment promotion of Rongdong District, Rongxi District, Xiongdong District, Xiong ‘an Business Service Center and Huawangcheng.
Official website shows that Gree Group, founded in March 1985, is the first state-owned capital investment operation platform in Zhuhai, with the main credit rating of AAA, and its business covers industrial investment, construction investment, urban renewal, construction and installation, service operation and other fields. By the end of 2023, the total assets of Gree Group exceeded 113.2 billion yuan, and the total owner’s equity exceeded 48.3 billion yuan, and the overall operating situation achieved steady and good development.
According to official website, Gree Group has built 75 industrial fund clusters with a total subscription scale of over 106.5 billion yuan, and has invested and introduced 194 industrial projects and local projects in Zhuhai with a total investment of 19.83 billion yuan. At the same time, Gree Group has built 16 "standardized+customized" 5.0 industrial new space projects with a total investment of about 19.3 billion yuan and a total construction area of about 3.97 million square meters in all districts of the city, which quickly landed and simultaneously carried out investment promotion operations.
The reporter of "Investment Express" noticed that on the eve of the Spring Festival, Gree Group carried out pre-holiday safety production inspection and trade union condolence activities, and Kang Hong, as the "top leader" of the group, officially began to perform his duties. The former chairman of Gree Group was Zhou Lewei, who succeeded Dong Mingzhu in 2016. After stepping down as the former chairman of Gree Group, Dong Mingzhu continued to serve as the chairman, president and legal representative of Gree Electric.
The group’s shareholding in Gree Electric has dropped to 3.44%.
Previously, Gree Group was the controlling shareholder of Gree Electric. Data show that when Gree Electric first went public in 1996, Gree Group held 60% of the shares. Since then, Gree Group has continuously reduced its shareholding in Gree Electric. In 1998, the shareholding ratio of Gree Group decreased to 55.35%, further decreased to 50.28% in 2000, to 40.84% in 2006, to 22.58% in 2007 and to 18.22% in 2019.
At the end of 2019, Gree Group and Zhuhai Mingjun signed the Share Transfer Agreement, and Zhuhai Mingjun, a subsidiary of Gaoyan Capital, acquired 15% equity of Gree Electric from Gree Group for 41.662 billion yuan, becoming the new major shareholder of Gree Electric. After the completion of the equity transfer, Gree Electric changed from a state-owned listed company in Zhuhai to an enterprise without controlling shareholders and actual controllers, and the shareholding ratio of Gree Group decreased from 18.22% to 3.22%.
By the end of the third quarter of 2023, Gree Group held 3.44% of Gree Electric’s equity, making it its fourth largest shareholder. As of noon on February 19, the total market value of Gree Electric was about 206.7 billion yuan. According to this calculation, the market value of Gree Electric shares held by Gree Group exceeds 7 billion yuan.
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