[Dong Mingzhu responded to the hot topics that you are concerned about: Yinlong, endorsement, 1 billion gambling appointments]
One question Dong Mingzhu: Gree endorsement, is to save the endorsement fee or to strengthen the "Dong Mingzhu" label?
"About You": We see that you personally speak for Gree, and your image and voice appear in various media terminals. Why did you choose to speak for Gree Electric?
Dong Mingzhu: Many people have discussed this issue. Some people may think that it is famous. Some people still look at it from different angles. At that time, because we saw many celebrities endorsing products for enterprises, consumers felt that they were deceived. He used the product not as advertised. So at this time I think we need to have a genuine commitment to integrity to consumers. I am the legal person (legal representative) of this company. I should tell him truthfully that the product is what I do. The content of all products is real. This is why I decided to make my own product endorsement.
"About You": We also interviewed some entrepreneurs who also speak for themselves. For example, like Chen Ou, his slogan is, "I'm Chen Ou, I speak for myself." The image he conveys is this kind of sunshine, youthfulness, upwards, and a confident concept. What do you want to convey to your customers through your endorsement?
Dong Mingzhu: For example, there are many companies in the air-conditioning industry. When it comes to government procurement, its labeling and labeling standards are false. So more often, we hope to change this phenomenon through our endorsement. If any company dares to speak out, it must be true.
"About You": What do you think of the effect?
Dong Mingzhu: If the promise I made is consistent with my product, then the brand's reputation will be higher and higher. But if you say it is false, then after you are deceived, slowly the brand in the minds of consumers, he thinks the brand is a fake brand. In fact, you are tarnishing yourself.
"About You": There is also a saying. Before Gree asked Jackie Chan to speak for him, his endorsement fee was almost tens of millions of yuan per year.
Dong Mingzhu: Yes, tens of millions.
"You are financial": You speak for Gree yourself. Some experts estimated that the endorsement of this piece is Gree's saving of endorsement fees, including the public relations cost is about 1 billion. What do you think about this figure?
Dong Mingzhu: This figure can be said to say that big can be said to be big and small can be said to be small. Because I don't think it's about endorsement fees. The key is that consumers' feelings are the most important.
"About You": There is a deeper understanding, because from an equity perspective, you and your team are actually not controlling shareholder status in Gree Electric. Therefore, everyone will feel that through your high-profile endorsements, they will increase their reputation for their products, and they will also be closely integrated with Gree Electric to gain greater say. Do you have this consideration? Or did it actually produce such a result?
Dong Mingzhu: I don't think this is the result at all. There is no such idea. As for such people's ideas, I can only express his inner thoughts. His personal thoughts do not represent our ideas. Because I have already made it clear that we are doing this kind of product is a commitment to consumers. When you are a legal person (legal representative), you should promise to consumers. However, this commitment does not signify kidnapping (business) or gaining the right to speak. I think the right to speak is not what you want to say.
I think what kind of mentality these people are thinking about this issue. I don't think about him. But I think my heart is very clear. If you run a business badly, then you can no longer kidnap it. So I think the key is your management philosophy of the company, the management model, as well as your own pursuit of quality, in order to make this company have vitality. Not that you kidnapped the company because you did a lot of advertising. Then your big shareholders, small shareholders, because you kidnapped, so we obeyed you, I think there is no reason. The strength of the key business, what did you create? I think my biggest thing is to create wealth in the past five years. This wealth includes three aspects. One is for the wealth of the country and society. We paid more than 80 billion yuan in the past five years, which is several times the past 21 years. Our dividends to shareholders are several times the past 21 years. At the same time, we have created very good returns, be it for the country, the stockholders, or the employees. I think it has achieved the greatest win-win development. So I think there is no kidnapping who does not kidnap. If you do business in the past five years, and advertising is not useful every day, then you can not kidnap. The key is your contribution to the company, your decision-making, your contribution to the company and to the society.
Second question Dong Mingzhu: The 1 billion gamble office will expire. “Miss Dong†vs “Reebs†will lose.
"You are financial": You and Mr. Lei Jun as representatives of the "two sessions" appeared in the channel of representatives to accept the visit of reporters. When you see this picture and see this scene, people naturally think of the famous gamble that you and Mr. Lei Jun told you five years ago. At that time, Xiaomi said that if you exceeded Gree in sales, then you have a billion bet. . Five years have passed. Since it is a gamble, it must be divided into one victory. What do you think of Gree's chances of winning this year?
Dong Mingzhu: I'm talking about winning now. Then I said I must win. Lei Jun I believe I can tell him to win.
"About you": He will also tell him to win. What is the standard?
Dong Mingzhu: I don't know. I think that during this process, some people also said that Dong Mingzhu should bet that you should pay taxes at the time. You must be 100% successful. But I think that through that, more incentives for more people to pursue a dream. But I think sales are one aspect. On the other hand, Ma Yun also said that if you can let a company live for a hundred years?
I think Lei Jun and I, two of them are not on a platform, because he is a light-asset company, I am a heavy asset company. But I think a lot of things are motivating. Everyone may say that I must win for this one billion. However, I think more about winning and winning in the minds of consumers. Therefore, I will not mess up my position because of Lei Jun’s gambling, or follow our own set goals. The growth rate of Gree over the past five years is also very fast. I feel that we are advancing at our own pace. However, as Lei Jun was concerned, the day was still a joke about what Lei Jun is doing now and air conditioning is also done. I said that his air-conditioning is nothing more than to take Changhong to give him OEM production. Lei Jun is not a research and development team with 1,000 people studying air-conditioning, I do not know. I don't think anybody behind me is clear. If I really got to the gamble on that day, I would definitely ask the National Audit Office to conduct a financial audit of both parties.
"About You": Because Internet users are very concerned about this game, so we have a very practical question. If we really win or lose, will the 10 billion really pay? Whether it is you or Lei Jun?
Dong Mingzhu: If so, we will take poverty alleviation.
"About You": At the time people were talking about you and Lei Jun's gambling bureau, some people said that it was a gamble between the new economy of the Internet and the traditional real economy. But you had a saying at that time. You didn't think it was. You think this is a gamble for business thinking.
Dong Mingzhu: You see now that the country has emphasized Chinese manufacturing from top to bottom, including the "Government Work Report," which emphasizes that it is worth revolution. If there is no manufacturing industry, we cannot call it a big country, or even a strong country. This thing on the Internet, I always think it is a tool. If you only have the Internet today, there is no product for you to sell in the manufacturing industry, including the Internet. What do you sell? No one of our consumers can simply say that the Internet has solved the problem of life. It is still needed to support it. For example, air conditioners and the Internet can replace air conditioners. Can the Internet replace it? No way. My air-conditioning is constantly upgraded, voice control, including remote monitoring, these are the Internet applications into the product, the product has appreciated. But without the Internet, I think air conditioning can survive. But without air conditioning, the Internet doesn't necessarily survive. It's that simple.
"You are in financial terms": The real economy is a tiger, and the Internet should be wings. This combination will be even more powerful.
Dong Mingzhu: It is the changes we are talking about in our daily life. These things have changed the structure of our lives. For example, if you do not have a cell phone in the past, you have to find someone to run. If there are mobile phones, they communicate with each other, but your mobile phone can not solve all the problems. You say that we always communicate on a telephone and talk to you today. The effect is totally different.
"About You": What do you think is different?
Dong Mingzhu: I think it is still necessary to return to the normal state of people, or should there be more face-to-face communication. What does the value of the Internet look like in the future? We will wait and see.
Three questions Dong Mingzhu: Xiaomi is on the market soon, will Gree lose its value to new players on the Internet?
“About Youâ€: As we are talking about the difference between these two economies, we will think of the valuation just mentioned. For example, Xiaomi’s plan is now listed, and the capital market’s valuation is about 690. Billion dollars or so. However, Gree Electric Co., Ltd. was originally a listed company, and Gree's current market value was about 50 billion US dollars. What do you think of the difference between the valuations of these two companies?
Dong Mingzhu: I don't know who is going to estimate the value. Jia Yueting has a higher valuation, right? So it's very difficult to answer your right and wrong on this matter. What is the correct valuation? Only his own heart is clear. People say that Gree’s valuation has increased by 20 times, but I did not pursue such a change in market value. I still meticulously pursued changes in the company's intension.
"About You": Do you think it is appropriate for the Gree's valuation to be appropriate in the capital market?
Dong Mingzhu: For me it is appropriate, it is best to be 5 times the best, now the price-earnings ratio of 5 times, 6 times is the most appropriate. why? Anyone who buys a stock will not have a crisis. You must have dozens of times or hundreds of times a crisis. Because you can support this business? Only this company he knew. However, companies sometimes cannot be sure that when an unexpected event occurs, he does not support it, and it is the risk of all investors.
“About Youâ€: We talked about Gree’s thinking of the Big Three on the home appliance market in China, Midea, Gree, and Haier. We see that each of the three giants has its own vigorous development. Haier, for example, acquired GE's home appliances, and its revenue last year exceeded 200 billion. Midea also diversified, including the acquisition of Toshiba's white electricity. We see that Gree is also making rapid progress in diversification, but how do we look at the difference in the development path between these three giants, and what is the slight difference between them now brings revenue?
Dong Mingzhu: That is the positioning of various companies. That acquisition, if the company itself has several billions of dollars, the acquisition of these billions has become your income, and you seem to grow quickly.
But I think I just want to stick to building China's own brand, I will not buy other people's brand. Buying someone else's brand, this brand belongs to you, but this brand is a foreign brand after all. I insist that my own brand can go to the world. In the air-conditioning industry, I think that no one in the Gree brand can replace or surpass it. I dare to admit it. But as far as the scale of the talks is concerned, you have 10 brands and 20 brands. You counted me as yours and counted him as yours. Of course, you exceeded the market value and quantity. But from a single product, there is no possibility of exceeding in the air conditioner.
“About Youâ€: We have seen that Gree is actually on the road of transformation and upgrading. Just now we talked about the road of diversification in all aspects of making mobile phones and building automobiles. However, some reporters have interviewed your partner. It was the former chairman of Gree, Mr. Zhu Jianghong. The reporter asked him if he said that you are still in position. Will Gree make mobile phones and make cars? He said it may not be.
Dong Mingzhu: Just because he is not in place now, is it not so simple? He may not make this decision because he is in place because he is not in position.
"About You": He is not a decision, he is a point of view, his point of view is so.
Dong Mingzhu: His point of view does not do, only air conditioning, perhaps someone beyond him. I don't know. It's all unknown.
Four questions Dong Mingzhu: Betting on Yinlong This year, Dong Mingzhu's dream of "making a car" to which step?
“About Youâ€: When we talk about Gree’s development, we have to talk about a new choice, which is investment in Yinlong. At that time, Gree Electric wanted to invest in Yinlong, but was later rejected by shareholders.
Dong Mingzhu: Not a shareholder veto because of one reason. From the outside, everyone thinks that it is a shareholder's objection, but the number of shareholders who vote on the spot is more than 99%, so there is no shareholder veto.
"About You": The real reason is that you can share it?
Dong Mingzhu: The real reason is only to ask the real reason. It is meaningless to talk about it today. After all, it is not. It is a problem with no value. It is meaningless to discuss it again. Is it because of criminal responsibility of an individual? It is also impossible, so there is no need to discuss it.
"About You": In the future, Gree will enter Yinlong Automobile as an investor?
Dong Mingzhu: At least there is no such plan.
“About Youâ€: We see that you personally have a relatively large investment. You also encourage your employees to personally invest in Yinlong. How is the employee’s investment in this block now?
Dong Mingzhu: Because we haven't started this at all. It was the Gree acquisition that encouraged our employees to go.
"About You": Gree was in the process of development. Until now, it actually has no loans. Can you say that?
Dong Mingzhu: Yes.
"About You": However, Yinlong Automobile is a new energy vehicle and its demand for funds is very large. Does this piece of work have some changes in your concept of funding needs, accepting loans or accepting some highly leveraged funds?
Dong Mingzhu: It is not a question of willingness to accept loans. Its operating model is different. The key is the risk of the company. It is not just a matter of loans and loans. The key is whether your technology can have a market. This problem must be solved fundamentally. As long as you can meet the market demand technically, as long as there is a market I think other issues are resolved.
"About You": Is there a big gap in funding requirements? Yinlong here?
Dong Mingzhu: OK.
"About You": If you have large demand, do you personally invest in it?
Dong Mingzhu: That is not a problem for everyone. It is a problem for all people.
"You are in financial terms": Our Yinlong is mainly in the field of buses. Will the bus field involve more government relations?
Dong Mingzhu: To a certain extent, in the past, I think government relations are indeed a headache. However, in the five years after the General Secretary, in the five years after the 18th National Congress, the relationship between government and business has quietly changed. I believe that the environment in the future will be getting better and better. You don't need to deal with the government, but instead put your real skills, quality, and services to compare. But now there may be a little more of this and that problem, but I believe the future is getting better and better.
"About You": The government has always subsidized new energy vehicles, but we have seen that the amount of subsidies starting from last year is actually declining.
Dong Mingzhu: Yes.
"About You": Does this piece have any impact on Yinlong, a new energy vehicle?
Dong Mingzhu: I think the subsidy is falling. In fact, the purpose of the subsidy is to promote more consumers to use this product. After using and experiencing this kind of product, I feel that this is really good. The first is environmental protection, and certainly no pollution. The second benefit is that operating costs are really low. Like our bus, if you use a traditional car for 200 yuan a day, if you use a new energy car, then it is 50 dollars a day. How much is it saved in a month? How much is a year? How much is it in ten years? Of course, if the battery is changed in two or three years, the cost must be calculated separately. But as a lithium carbonate battery, it can do this kind of cost accounting. However, most people do not accept it because the cost of the battery is high and one-time purchases may be higher than the traditional price. He thinks it is not worthwhile. The government used subsidies to regulate this market. I think it is right. But what exactly is this policy reasonable? This is worth considering. For example, why do we have some phenomena that we do not want to see?
"About You": Some things that make up.
Dong Mingzhu: Because your subsidy is too high, companies even get a subsidy. You can sell this car to a consumer without paying a penny, so there are a lot of phenomena that we cannot see. After consumers buy it back, many cars are made indiscriminately. Consumers, even if you have quality problems, don't want me to. Even if some cars are defrauded, it is useless to place them there. The government subsidy is subsidized by the number of kilometers. At this time, the company has problems. If the money is not available, then it will jump. Even if you return the money for cheating the country, a series of problems have emerged. Therefore, I think that when the country promulgates policies, it must seriously study whether it is to promote the development of the enterprise and whether it can eliminate the space for transactions. These things must be thoroughly studied.
Five questions Dong Mingzhu: Wang Jianlin, Liu Qiangdong have come to play CALL, how to form the strongest circle of friends?
"About You": We have also seen a very interesting story about Yinlong's investment. At that time, you called Mr. Wang Jianlin and he immediately agreed to join you in investing in this Yinlong. The final amount was 5 billion yuan, and some media asked him why you want to invest in Yinlong. He said, first of all, Ms. Dong Mingzhu and I are friends. Second, I very much believe in Ms. Dong Mingzhu’s vision. We would like to ask, what values ​​you and Mr. Wang Jianlin think are common to you, can be said to be heart and soul.
Dong Mingzhu: We feel that we can have such an era for the whole of China. We have our own value as much as possible. Always hope that through their own ability to create some wealth for the community.
"About You": Is there still such social responsibility in it?
Dong Mingzhu: Yes, this kind of power, we may do more and better development. He is to me because I do industrial and manufacturing. He believes that from what he feels, manufacturing is very difficult. Because he wants to do fine management on every product, even a screw, to ensure the quality of this product.
"About You": In your eyes, what kind of person is Mr. Wang Jianlin?
Dong Mingzhu: He is an entrepreneur. So we have no more personal communication. We think ideologically, we agree with a concept of development.
"About You": I think you also said on some occasions that you have no friends or friends.
Dong Mingzhu: I can't not have friends. All my friends can't do business with me.
"About You": Do you think Mr. Wang Jianlin counts your friends?
Dong Mingzhu: I don't think there is anything between us. He just buys my air conditioner every day. Friends and this are two concepts.
"About You": is the relationship of a strategic partner?
Dong Mingzhu: Yes.
“About Youâ€: In fact, talking about Wang Jianlin’s phone calls also has a story. You previously made an advertisement about Gree with Mr. Wang Jianlin.
Dong Mingzhu: Because all the air conditioners he uses are mine. Because he used this air conditioner with good quality, he was willing to come out. If he uses my air-conditioning quality and kills him, he will not come out.
“About Youâ€: But at the time you called him and he promised to speak for Gree? Is his endorsement free?
Dong Mingzhu: Of course. All people, Liu Qiang Dong are free.
"About You": Have you ever thought of cooperating again?
Dong Mingzhu: No, this does not require me to think about it. If I always want to ponder a thing, you are deliberately doing something, and I think it is a failure.
"About You": It is natural.
Dong Mingzhu: I think naturally, there is a need to come, including Liu Qiangdong needs me today, I go.
"About You": Have you ever had? Has he ever made such a request? Liu Qiang Dong?
Dong Mingzhu: Of course it is possible. For example, for Jingdong’s advertising, we’re going to give him a platform. It’s normal.
Six questions Dong Mingzhu: Dong Mingzhu responded to tax cuts: The state does not charge a penny tax, and companies do not have the technology to die.
"You are in financial contract": In the government report of the "two sessions" this year, it actually mentioned that we must create a better business environment. Just now we talked about your friend Mr. Cao Dewang. In fact, he had some remarks last year. He was talking about the taxation of Chinese companies is actually too high. Now we also see that the "Government Work Report" also has a summary of tax cuts for enterprises and we must create a better business environment. From your entrepreneur's point of view, what do you think about making these policies more focused and better able to fall into business?
Dong Mingzhu: The survival of a company does not depend on tax cuts. The government’s penny tax does not charge you. You can survive because of your technology. The country does not charge your taxes for a penny, you have no technology, the market does not want you, you die. Gree pays billions of dollars each year in these days, but I think that because we pay much more, we will live healthier. It is precisely in the past 21 years that we have paid more than 10 billion yuan in tax revenue in the entire 21-year period. On the contrary, we live in a very difficult situation because we do not have the ability to support your business development. And today we have mastered our core technology because of the core technology because you have a market so you can make more money. Because you make money, you pay taxes to the country. Because you make money, dividends are paid to shareholders. It's that simple.
"About You": Objectively speaking, what do you think of the corporate tax?
Dong Mingzhu: I think it is good, but as long as taxes are fair. Do not he receive, his confiscation, that is to hurt the business, to reduce the same standard, to add a standard, I think there is no problem.
"About You": Can you tell us more about it? Why do you have different standards?
Dong Mingzhu: No, I said I hope that the tax will give you a reduction, and that he will not be reduced or exempted. The reduction will be for everyone. Fairness is very important. It's not like why you just said, why not, but what it should be like.
"About You": Do you think that innovating enterprises and mature enterprises like Gree should be the same?
Dong Mingzhu: How is it different? I also want to innovate. I don’t want to innovate. Innovation should be subsidized or not given. If you rely on strength to survive, you must give it.
"About you financially": I have to mention another one, that is, a tax issue. We also saw reporters in the "two sessions" this year to ask you questions. Do you have to raise the tax threshold? I did not know if I was accurate in one of the documents (seeing). I saw that your personal annual salary is about 5 million before tax, and the income after tax is about 2 million.
Dong Mingzhu: Yes.
"About You": Do you think China's individual tax is high?
Dong Mingzhu: I think we need to reduce our burden now is the working class, not the rich. The rich should pay more taxes. It is like narrowing the gap between the rich and the poor. If you take so much money, what can you do with more taxes? But what I fear most is that the rich have tax evasion. You obviously do not evade taxation in your employer. All expenses can be reimbursed by the company. This is tax evasion. How to make the country strong? In fact, how can our country be strong if our manufacturing industries are not able to pay taxes?
Seven questions Dong Mingzhu: Under the strategy of Guangdong, Hong Kong, and Macao in the Bay Area, where is the opportunity to “lead the big brother†Gree?
“About Youâ€: Pearl Pearl We have just talked about Zhuhai. We know that there is also a national strategy to build the Guangdong, Hong Kong and Macau Dawan District. Gree is just in Zhuhai. It is the number one enterprise and a fist company. During the construction of Guangdong, Hong Kong, and Macao Bay Area, did Gree reposition itself?
Dong Mingzhu: As a manufacturing industry, wherever you are, of course it needs a good external environment. In the realization of the Greater Bay Area, I believe that it is not just a change in a manufacturing industry. It is a repositioning, and our entire Greater Bay area may be more open. Without this, I think we are relatively isolated and closed.
Of course, we are a manufacturing industry. No matter what kind of change, we still must not forget our main responsibility, or we must try hard to study technology and develop products. You are not just serving a large bay area. You are serving China and serving the world.
"About You": For a national strategy, it must have some new policies and some measures. Did Gree see some new opportunities in this area?
Dong Mingzhu: I have always come to the country's so-called policy. I don't know what this policy is. Maybe the policy that everyone thinks is that you should give me some money. The government is exempt from this thing. However, I still think that a responsible company is not eyeing what the government gives me. And I hope that our company can do its best. Regardless of people's exemption and inevitability, we try our best to create more wealth for our society through our own contributions. I think I think it may still be this.
"About You": Do you worry?
Dong Mingzhu: I am not anxious. My anxiety is that my technology needs to be constantly upgraded. I am not anxious about other people.
"About You": For the business environment? Are you still very positive about this one?
Dong Mingzhu: Because the business environment has changed. But the tiger hit and the fly hasn't finished yet. You have to have a process. There is no fairy who has finished all the flies and tigers overnight.
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