高瓴资本入主格力电器六年后首次减持，资金将用于偿还银行贷款

Core Viewpoint - Gree Electric Appliances announced that its largest shareholder, Zhuhai Mingjun Investment Partnership, plans to reduce its stake by up to 111,702,774 shares, which is 2% of the total share capital, to repay bank loans [1][3]. Group 1: Shareholder Reduction Plan - Zhuhai Mingjun holds 902,359,632 shares, accounting for 16.11% of Gree's total share capital [1][3]. - The planned reduction will take place within three months after a 15 trading day period from the announcement date [1]. - The estimated amount from this reduction, based on the closing price of 38.49 yuan per share, is approximately 4.3 billion yuan [3]. Group 2: Background and Implications - This is the first reduction plan disclosed by Zhuhai Mingjun since it became Gree's largest shareholder in 2020 [3]. - Gree stated that this action is a normal financial arrangement following the completion of the share lock-up commitment and will not lead to a change in control or significantly impact the company's governance structure [3]. - Zhuhai Mingjun's shareholders include Hillhouse Capital and Zhuhai Gezhen Investment Partnership, with the latter being controlled by Gree's chairman, Dong Mingzhu [3]. Group 3: Financial Context - To repay a total loan of 20.83 billion yuan, Zhuhai Mingjun pledged 721,887,705 shares of Gree as collateral [5]. - The loan agreement was signed with Agricultural Bank, Bank of Communications, and Ping An Bank in April 2021 [5]. - Gree's revenue for the first three quarters of 2025 was 137.18 billion yuan, a decrease of 6.5% year-on-year, while net profit attributable to shareholders was 21.46 billion yuan, down 2.27% year-on-year [6].