Core Viewpoint - The article discusses the recent Gree Electric Appliances shareholder meeting, highlighting the company's strategic focus on international expansion, industrial equipment, and stable dividend policies, while showcasing a shift in management engagement with shareholders [1][2][10]. Group 1: International Expansion - The first focal point of the shareholder meeting was the company's international expansion strategy, particularly in emerging markets like Africa and Latin America [3]. - Gree's president, Zhang Wei, noted a significant shift in export structure, with self-owned brands now accounting for nearly 80% of exports, up from less than 30% [4]. - The company aims to enhance its brand presence in new markets, emphasizing that international expansion remains a critical growth area [4][6]. Group 2: Industrial Equipment and Smart Manufacturing - Gree Electric is advancing into the industrial equipment sector, which is viewed as an independent and essential segment rather than a mere extension of home appliances [7]. - The company has achieved notable breakthroughs in smart manufacturing, particularly with its five-axis gantry machining centers, which rank among the top three globally in the automotive parts processing sector [7]. - Gree aims for its industrial segment to exceed a scale of 100 billion yuan, utilizing a dual-channel approach of direct sales and agency partnerships [7][8]. Group 3: Dividend Policy - Gree Electric plans to distribute a cash dividend of 10 yuan per 10 shares, totaling 5.585 billion yuan for the 2025 mid-term profit distribution [10]. - Since its listing, Gree has distributed over 177.6 billion yuan in dividends, with more than 172.2 billion yuan distributed since 2012 [10][11]. - The company maintains a commitment to high and stable dividend trends, which is a key focus for shareholders [12]. Group 4: Management Engagement and Strategy - The shareholder meeting featured a more engaged management team, with Zhang Wei emphasizing the importance of showcasing the capabilities of different business leaders [2]. - Gree's chairman, Dong Mingzhu, highlighted the company's commitment to quality and the importance of maintaining a balance between product development and shareholder returns [15]. - The company is also undergoing a channel transformation to a flatter structure, allowing direct connections between end distributors and headquarters [13].