The eve of the board of directors to launch a dividend plan For the re-election of Dong Mingzhu “campaign”?

2022-05-20 0 By

Source: 21st Century Business Herald Original headline: Launch bonus plan ahead of board change Dong Mingzhu “campaign” for re-election?On the evening of January 24th, Gree Electric Appliances (000651.SZ) disclosed “shareholder return planning for the next three years (2022-2024)”.According to the announcement, the company plans to distribute profits twice a year from 2022 to 2024. On the premise that cash flow meets normal operations and long-term development, the company will pay out cumulative cash dividends no less than 50% of its net profit in the same year from 2022 to 2024.Affected by the news, Gree’s share price bucked the trend on The 25th, in the home appliance sector as a whole fell 3%, Gree’s intraday rose by more than 3%, breaking through the 40 yuan mark.At the close of trading, the company’s share price was 38.89 yuan, up 0.1% from the previous trading day, the total turnover of more than 2.8 billion yuan, the company’s total market value of 230 billion yuan.Gree Electric Appliances said in its announcement that the shareholder return plan was designed to “establish a scientific, sustainable and stable shareholder return mechanism” and “promote the rational development of the capital market.”However, some analysis believes that the announcement of shareholder return planning at this time, or related to market value management.In fact, since the high of 66.79 yuan/share in early December 2020, Gree Electric Appliance’s stock price has been adjusted continuously for one year. It was not until early December last year that the stock price stopped falling and maintained an upward trend of shock.Shenyin Wanguo Securities pointed out that considering the overall demand for air conditioners is still expected to be relatively low, copper prices are still at historically high levels, gree Electric appliances are under pressure from both revenue and cost.According to the latest data from AVC, the domestic retail volume of air conditioners in 2021 was 46.89 million, down 8.7% year on year.Overall retail sales were 152.7 billion yuan, down 1.2% year on year.In the case of rising raw materials, double control of energy efficiency and repeated epidemics, the industry is generally expected to be difficult to be optimistic about the air conditioning market this year.The latest earnings data show that in the third quarter of 2021, Gree Electric Appliances’ revenue was 47.083 billion yuan, down 16.5% year on year.Net profit was about 6.188 billion yuan, down 15.66% year-on-year, both lower than market expectations.The company achieved revenue of 138.13 billion yuan and net profit of 15.64 billion yuan in the first three quarters.It is worth mentioning that gree electric Appliances also announced the company’s board of directors election on the same day.According to the announcement, Gree Electric Appliances will hold an extraordinary general meeting of shareholders on February 28, and nominate Dong Mingzhu, Zhang Wei, Deng Xiaobo, Zhang Jundu, Guo Shuzhan as non-independent director candidates for the 12th board of directors of the company;Shuwei Liu, Xiaohua Wang, Ziwen Xing and Qiusheng Zhang were nominated as independent director candidates for the 12th board of Directors of the Company.The reporter noted that compared with the eleventh board of Directors, the twelfth board of Directors had one less non-independent director and one more independent director.Shuwei Liu, Xiaohua Wang, Xing Ziwen three continue to nominate to stay, Zhang Qiusheng became the new independent director candidate.Voices think, in the company’s board of directors election year launched dividends planning, for Dong Mingzhu’s re-election added a lot of “chips.”Previously, Gree electric dividends have been the focus of attention.According to Wind statistics, from 1996 to 2020, Gree Electric Appliances has implemented 22 cash dividends, with a total dividend amount of 84.3 billion yuan, ranking first in the household appliance industry.The total net profit reached 190.752 billion yuan during the period, and the dividend rate was as high as 44.2%.In April 2018, Gree electric Appliances announced that it would no longer pay dividends, which also caused dissatisfaction among investors.Although Gree Electric Appliances pointed out in the announcement that “the return planning may be adjusted in light of the actual situation”, from the point of view of law, the shareholder return planning announced by listed companies has legal effect, and investors can supervise the dividend commitment made by listed companies.