OFweek smart home network news Dong Mingzhu as the second shareholder of Yinlong company, attracting numerous eyes. Many people said that "Miss Dong" is "I'm crazy for cars." In fact, Yinlong has entrusted Dong Mingzhu with the dream of developing Gree's diversified electrical appliances.
During the Three Kingdoms Period, Liu Bei went to Longzhong, Hubei Province, visited San Francisco, visited Zhuge Liang, and Zhuge Liang discussed the situation in the third world. He pointed out that Liu Bei’s path to the rise of the country and the repair of the Han rivers and mountains was called “Longzhong pairs.†What is Dong Mingzhu's strategy to achieve Gree's diversification of "Longzhong Pair" (through countermeasures) through Yinlong?
It can be said that Matsushita has similarities with Matsushita Electric's transformation strategy in the past five years, that is, from home space to car space, and it has become a provider of new energy solutions for smart homes and smart cars. This year, Matsushita and Tesla have officially put into operation a new super car battery super factory in the United States. In order to make full use of capacity, this super factory will also produce household batteries. Panasonic’s vehicle battery plant in Dalian, China, also started production this year.
Matsushita used to be famous for its household appliances. It is now actively expanding from the B2C field to the B2B field and avoiding the "Red Sea" of low-price competition in the home appliance market. That year, Panasonic acquired Sanyo Electric, which is centered on its battery technology. Panasonic has built a model of an intelligent environmental protection town near Tokyo, Japan. Everyone uses solar energy and has an energy storage system. The battery-centric automotive business will contribute 2 trillion yen to Panasonic by fiscal year 2018.
To put it plainly, new energy battery technology is the "base" of Panasonic's smart home and smart car solutions. Therefore, Dong Mingzhu has repeatedly mentioned that Yinlong's most attractive technology is lithium titanate battery technology. It is not difficult to understand.
Compared with Haier and Midea, the biggest difference in Gree's diversification strategy lies in new energy. Gree Electric pointed out in its 2016 annual report that while consolidating and developing the air-conditioning industry, it will continue to expand into the smart manufacturing, smart home, and new energy industries. Haier has built a rich ecosystem of smart homes. After the U.S. acquisition of KUKA, it has already seized opportunities in smart manufacturing.
Gree will be able to produce color in the future, perhaps in new energy. At present, Gree's diversification can be said to be all-sided, but there are Haier in front of refrigerators and washing machines, there are beautiful small appliances in front, not to mention mobile phones, Apple, Samsung, Huawei, OPPO are all "mountains." The fast-growing new energy and new energy automobile industry also has opportunities and meets Gree's air-conditioning business.
Yinlong has three levels of value for Gree. One is to provide home storage batteries for Gree's smart home systems, and together with Gree PV air conditioners, build smart energy storage, energy storage, and energy management systems; second, it can be a “trial field†for Gree's molds, CNC machine tools, and industrial robots. Long procurement of Gree's smart manufacturing equipment, establish a model; third is to help Gree enter the new energy and new energy automotive industry chain.
Dong Mingzhu said that his investment in Silver Dragon is "accepted by helplessness." Last year, Gree Electric Appliances acquired Yinlong and was terminated due to opposition from small and medium shareholders. Dong Mingzhu later stepped in to save his money and invested in Yinlong. He also brought in Wang Jianlin of good friends Wanda and Liu Qiangdong of Jingdong. Now she is the second largest shareholder of Yinlong with a capital contribution of RMB 192.7 million and 17.46%.
After the acquisition of Yinlong Group, Gree Electric Appliances changed its strategic cooperation with Yinlong, and the annual amount of related party transactions did not exceed RMB 20 billion. When Gree responded to the inquiry of the Shenzhen Stock Exchange in February this year, it said that it will use the cooperation with Yinlong to quickly enter the new energy automotive industrial chain, energy storage and battery manufacturing equipment fields, and create new industrial growth points.
In April of this year, Gree Electric more specifically pointed out in its 2016 annual report that “we firmly grasp the opportunities and challenges brought about by the cooperation with Yinlong, and create new profit growth points in the areas of molds, motors, automotive air conditioners, and smart equipment. At the same time, it also pointed out that “accelerating the industrial layout and technological breakthroughs in the new energy industry sector, launching new energy products of independent innovation, expanding the market share of photovoltaic air conditioning products, achieving technological breakthroughs in the integration of optical storage, and addressing energy control agreements and strategies,†Realize the development of distributed control systems and distributed energy systems at the home, building, and urban levels."
Gree cut into the new energy automotive industry chain, the battery is a follow-up, the first step must be "keeping home" air-conditioning business. At the Canton Fair in spring 2017, the author first saw Gree's car (RV) air-conditioner publicly unveiled. Gree's vice president Huang Hui revealed at Gree's shareholders meeting in 2016 that Gree is now producing bus air conditioners and the car air conditioners may be visible next year. Electric vehicles give Gree new opportunities, because the general automobile uses engine waste heat to heat, and electric vehicles use electricity to heat, Gree's compressor low-temperature technology can solve the problem of low temperature heating of electric vehicles.
Indeed, automotive air conditioners, compressors are the heart. Panasonic has aggressively attacked China's new energy automotive industry chain. In addition to setting up an on-board battery plant in Dalian, it also established a joint venture with BAIC to produce automotive air-conditioning compressors last year. Gree's Lingda compressors are playing a role. Once the air-conditioning is successful, Gree can establish a cooperative relationship with auto companies, laying the foundation for the future motor, mold and even energy storage system to enter the new energy auto industrial chain.
Zhang Xiaofei, director of the Institute of Lithium Research of the Institute of Advanced Industrial Science and Technology, believes that lithium titanate batteries have the features of fast charging, long lasting, and good safety. From the current market share of Yinlong, lithium titanate battery has made great progress in the passenger car market. In addition, lithium titanate batteries will have a lot of space in large logistics vehicles, passenger vehicles, especially SUVs, and home solar energy storage systems. Of course, lithium batteries are not only technical factors but also need government resources and industrial resources. Yinlong's cooperation with Gree is a beneficial combination.
What will Gree become in the future? It depends on whether Dong Mingzhu’s “Longzhong Pair†can work.
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