Gree Electric Co., Ltd. has jointly invested in the establishment of the Innovation Center for Energy Internet (Guangdong) Co., Ltd., which is a local energy Internet innovation center in Guangdong Province, jointly with five enterprises such as Zhuzhou Zhongche and Yinlong New Energy. Among them, Gree Electric Holdings 75%, Zhuzhou Zhongcheng Automobile Holdings 8%, Yinlong New Energy Holdings 5%, Dong Mingzhu as the chairman of the new company.
Photo Source: Visual China
According to media reports on the 10th, recently, Gree Electric Co., Ltd. jointly invested in the establishment of the Creative Energy Internet Innovation Center (Guangdong) Co., Ltd., a local energy Internet innovation center in Guangdong Province, in conjunction with five enterprises such as Zhuzhou Zhongche and Yinlong New Energy. Among them, Gree Electric Holdings 75%, Zhuzhou Zhongcheng Automobile Holdings 8%, Yinlong New Energy Holdings 5%, Dong Mingzhu as the chairman of the new company.
Sky Eye Screening
According to Tian Eye Check data, Gree Electric Co., Ltd. has jointly invested in the establishment of the National Creative Energy Internet Innovation Center (Guangdong) Co., Ltd. with registered capital of RMB 100 million and Dong Mingzhu as chairman of the board of directors, in conjunction with five enterprises such as Zhuzhou Zhongche and Yinlong New Energy. At present, among the six major shareholders of the company, Zhuhai Gree Electric Appliance Co., Ltd. is the major shareholder, with a share-holding ratio of 75%, Zhuzhou Zhongche Times Electric Co., Ltd. 8%, and Yinlong New Energy Co., Ltd. 2%.
It is understood that the company is the Guangdong Provincial Local Energy Internet Innovation Center, in order to solve the common key technologies of local energy Internet, and provide important support for the development of the industry. Industry and Commerce Information shows that the new companys business scope includes: energy routers in the field of local energy Internet, photovoltaic DC equipment and new energy equipment, measurement and testing related components, equipment and product development, trial production and sales.
In addition, Tian Eye Check shows that currently there are 68 companies under Dong Mingzhus name, serving as legal representatives of 12 companies such as Zhuhai Gree Electrical Appliances Co., Ltd. and 2 Shareholders of Yinlong New Energy Co., Ltd. and Zhuhai Hima Mingzhu New Media Co., Ltd., the former holding 17.46% and the latter holding 42%.
Sky Eye Screening
In February 2016, under the leadership of Dong Mingzhu, Gree Electric had planned to acquire Yinlong, Zhuhai, to develop new energy business, but the final acquisition was rejected by the shareholdersmeeting. Later, Dong Mingzhu, in her personal capacity, jointly invested 3 billion yuan in Yinlong, Zhuhai. Then Dong Mingzhu further increased her capital and eventually became the second largest shareholder in Yinlong, Zhuhai.
Since 2018, Dong Mingzhu has cleaned the original management of Yinlong in Zhuhai, and eventually succeeded in controlling Yinlong in Zhuhai. Wei Yincang lost the United States. However, as Dong Mingzhus influence on Yinlong in Zhuhai grows stronger and stronger, the related transactions between Gree Electric Appliances and Yinlong in Zhuhai become closer and closer.
According to the 2008 financial report of Gree Electric Appliances, the total related transactions between Gree Electric Appliances and Yinlong, Zhuhai, amounted to 2.927 billion yuan. Among them, 272 million yuan is for Gree Electric to purchase new energy vehicles and energy storage equipment from Yinlong, Zhuhai; 265 million yuan is for Gree Electric to Yinlong sales of products and commodities, mainly for intelligent equipment and bus air conditioning. According to Gree Electric, in fiscal year 2019, it is estimated that the total amount of daily related transactions between Gree Electric and its subsidiaries, such as sales and purchasing products, will not exceed 2.7 billion yuan, accounting for 2.91% of the companys audited net assets in the latest period.
It is worth mentioning that at the annual shareholdersmeeting of Gree Electric in June this year, investors asked whether Gree Electric planned to restart its acquisition plan for Yinlong. The companys senior executives responded: At present, the company has no plans for the acquisition and equity of Yinlong New Energy, and the current relationship between the two is only in air-conditioning steam. Vehicle energy storage related transactions and industrial synergies.
Source of this article: Sino-New Zealand Editor Responsible for Longitudinal and Weft: Wang Fengzhi_NT2541