
Core Viewpoint - The article discusses the dramatic reconciliation between Gree Electric's chairman Dong Mingzhu and her former protégé Meng Yutong, highlighting the strategic importance of their upcoming joint live-streaming event to attract younger consumers amid Gree's declining market position [3][4][10]. Group 1: Company Background and Current Situation - Gree Electric's revenue in 2022 was 190.038 billion yuan, marking a 7.31% decline year-on-year, representing the first negative growth in four years [9]. - In contrast, competitors Midea and Haier reported revenues exceeding 400 billion yuan and 290 billion yuan, respectively, significantly outpacing Gree [9][10]. - Gree's net profit exceeded 32 billion yuan in 2022, comparable to Midea's 38.5 billion yuan, but Gree's market valuation is only 2.3 times lower than Midea's [12]. Group 2: Strategic Moves and Market Positioning - The upcoming live-streaming event on May 23 is strategically timed to coincide with the 618 shopping festival, where the previous collaboration between Dong and Meng generated over 30 million yuan in sales [8][9]. - Gree's traditional reliance on air conditioning products, which account for over 70% of its revenue, limits its diversification and appeal to younger consumers [18][19]. - The company is undergoing a channel transformation to adapt to changing market dynamics, including a shift towards online sales and a reduction in sales expenses by 5 billion yuan [13][20]. Group 3: Brand Image and Consumer Engagement - Dong Mingzhu's personal brand and public persona are closely tied to Gree's image, and the reconciliation with Meng Yutong is seen as a move to improve Gree's brand perception and attract younger consumers [11][16]. - The "Dong Mingzhu Health Home" strategy aims to upgrade Gree's offline stores into experiential centers, integrating live-streaming and in-store experiences to enhance consumer engagement [21]. - Despite facing criticism and a declining market position, Gree's technological advantages in air conditioning still present opportunities for growth if effectively leveraged [22].