Gree Electric Appliances Dong Mingzhu: The company does not rely on stock price to survive. If investors are patient with Gree, they should hold it for the long term.

On the evening of January 28, "Look at the present and create the future - Gree 2024 Global Dream Ceremony" was held at Zhuhai Gree Vocational College. Nearly 20,000 people attended the ceremony. They are employees, suppliers and dealers of Gree Electric Appliances (SZ000651, stock price 33.66 yuan, market value 189.6 billion yuan).

"Daily Economic News" reporters learned on the spot that Dong Mingzhu, chairman and president of Gree Electric Appliances, appeared to deliver a speech on the theme of "Innovation is the vitality of the enterprise". She said that despite the complex external situation in 2023, Gree Electric achieved the best results in history, thanks to Gree Electric's innovation. According to Gree Electric's previously released performance forecast for 2023, Gree Electric expects to achieve total operating income of 205 billion yuan to 210 billion yuan in 2023 and net profit attributable to shareholders of 27 billion yuan to 29.3 billion yuan, a year-on-year increase of 10.2% to 19.6%.

Dong Mingzhu revealed in his speech that Gree Electric's net profit in 2023 will be about 29 billion yuan. From 2012 to the present, Gree Electric has achieved revenue of 1.8767 billion yuan, achieved a total net profit of 230.4 billion yuan, and paid a total of 153.44 billion yuan in taxes. During this period, the company also distributed a total of 106.76 billion yuan in dividends to shareholders. In the past five years, Gree Electric's average annual stock dividend has reached 14.073 billion yuan.

"Gree Electric doesn't care about the stock price because we don't rely on the stock price to survive. But some investors say, 'You don't care about the stock price, I care about the stock price.' But I believe that if you are patient with Gree, you should hold Gree stocks for the long term." Dong Mingzhu said.

She also said that companies should innovate with altruistic thinking. For example, the mine air conditioner developed by Gree Electric Co., Ltd. cost a lot of research and development funds and was not profitable, but it allowed miners to work with more dignity. On the evening of the 28th, Dong Mingzhu also announced the upgrade of the core connotation of the Gree brand, and the brand slogan became "Create a better life for mankind together".