Dong Mingzhu to Continue as Gree Electric’s Chairwoman

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By Zhao Runhua / Jan 17, 2019 12:35 AM / Business & Tech

Dong Mingzhu. Photo: VCG

Dong Mingzhu was confirmed as Gree Electric’s chairwoman on Wednesday at the company’s first interim shareholders meeting of the year.

Before the results were announced, when asked whether the company was internally selecting any candidates to succeed Dong in the future, Gree Electric’s executives said that a proper answer to the question could be deducted from the company’s talent structure. They added that “from their heart,” the executives are fulfilling their duty for now with Dong as the center of corporate management.

Dong said during the meeting that Gree Electric’s total annual revenues is expected to be 600 billion yuan ($88.7 billion) by 2023. Dong told shareholder attendees that the company can sustain an annual growth of 10%, and the company’s earnings after tax in 2018 have surpassed 26 billion yuan.

Dong also expressed optimism about the new-energy vehicle industry. She expects Yinlong Energy, the company in which Dong personally invested $30 million to become the second-largest shareholder, to allow Gree Electric to expand.

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