董明珠践行少说话承诺，格力累计分红超1700亿

Core Viewpoint - Gree Electric Appliances has maintained a high dividend policy, distributing over 170 billion yuan in total dividends since its listing, but faces challenges with declining revenue and net profit in recent quarters, highlighting the need for operational efficiency and market adaptation [5][10][23]. Dividend Policy - Gree's 2025 mid-term profit distribution plan proposes a cash dividend of 10 yuan per 10 shares, totaling 5.585 billion yuan, with cumulative dividends exceeding 170 billion yuan since its listing [6][9]. - Gree ranks approximately 17th in total dividends among A-share companies, with the highest dividends being distributed by state-owned enterprises [6][9]. - The company has a dividend-to-financing ratio of about 33 times, placing it in the top ten among A-share companies [6][9]. Financial Performance - For the first three quarters of 2025, Gree reported revenue of 137.65 billion yuan, a year-on-year decrease of 6.6%, and a net profit of 21.46 billion yuan, down 2.3% [10][11]. - Gree's revenue decline is attributed to its heavy reliance on the air conditioning business, which constitutes 78.38% of total revenue, and is affected by industry downturns [10][13]. Market Position and Competition - Gree faces increasing competition from rivals like Midea and Haier, which have diversified their business models and reported revenue growth, while Gree's market share in the air conditioning sector is under pressure from emerging competitors like Xiaomi [12][13]. - The company's recent channel reforms have temporarily hindered domestic sales, contributing to the revenue decline [12]. Leadership and Shareholding - Dong Mingzhu, Gree's chairperson, holds approximately 1.008 billion shares, making her the sixth-largest shareholder and the largest individual shareholder [14][19]. - Dong's annual salary is reported at 14.37 million yuan, and she stands to gain significant dividends from Gree's high payout policy [16][19].