Dong Mingzhu: Next year, the company may retire, and it is not okay to leave a mess for the people behind you

National Business Daily

2024-06-28 19:27The official account of National Business Daily

Every reporter: Chen Pengli, Wang Fan, every editor: Yang Xia

On the afternoon of June 28, the 2023 annual general meeting of shareholders of Gree Electric Appliances (SZ000651, share price 39.22 yuan, market value 220.9 billion yuan) was held at the Zhuhai headquarters of Gree Electric Appliances. The reporter of "Daily Economic News" learned at the meeting that Dong Mingzhu, chairman of Gree Electric Appliances, said in response to investors' questions about the impact of rising copper prices: "Copper prices are rising, and everyone is thinking about what to do. There are already companies in the industry that have started to replace copper with aluminum, but we can't do that. The durability and stability of aluminum are not so high, and we will not replace copper with aluminum without being 100% sure. ”

Dong Mingzhu, chairman of Gree Electric Appliances Image source: Photo by reporter Chen Pengli

She further analyzed that the consequence of aluminum for home appliances is to cause after-sales pain points. "We still maintain the original technical route, but our technical research on aluminum is also going on simultaneously." "If you want to make money in front of you, you can make quick success. However, if you want to develop sustainably and be truly responsible to shareholders, you can't chase short-term profits. Next year, the company will change and maybe I'll retire, but it's not okay to leave a mess for the people behind me. Dong Mingzhu finally said that although the price of copper has risen, the profits of Gree Electric Appliances are still growing.

(Cover picture source: Daily Economic News data map)

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