"Say good Dong Mingzhu to attend? Only live text? " In an investor community, some investors raised the above questions about the 2022 online performance briefing held in Gree Electric (000651) on the afternoon of June 15th.
Prior to this, Gree Electric said in the announcement of the preview of the performance briefing on June 3 that four senior executives of the company, namely, Chairman and President Dong Mingzhu, Secretary Deng Xiaobo, Chief Financial Officer and Assistant President Liao Jianxiong and Independent Director Wang Xiaohua, would attend the meeting.
However, judging from the actual situation of this performance briefing, it was held in the form of text question and answer instead of audio and video live broadcast, which was commonly used in Gree Electric in the past. In addition, Deng Xiaobo, the director of Gree Electric, answered investors’ questions all the time, and Dong Mingzhu and other senior executives did not show up all the time.
Talking about diversification: a breakthrough in the intelligent equipment sector
Although it was a live text broadcast, Deng Xiaobo gave a detailed reply to many questions that investors were concerned about. Among them, Gree Electric’s progress in diversified sectors such as household appliances and smart equipment is the most concerned by investors. According to the annual report of 2022, the revenue from air-conditioning business in Gree Electric accounted for 71.36%, which was higher than 70.11% in 2021. In other words, in the past year, Gree Electric’s dependence on air conditioning has become more serious.
For the household appliances sector, Deng Xiaobo said that the company’s household appliances products are positioned in a healthy, intelligent and personalized manner, and a systematic layout is implemented to achieve full coverage of industries such as kitchen appliances, environmental appliances and ice washing products. In 2022, the series of household appliances realized the continuous upgrade from function to scene experience.
For the intelligent equipment sector, Deng Xiaobo said that the products independently developed by Gree Intelligent Equipment have exceeded 100 specifications, covering servo manipulators, industrial robots, intelligent storage equipment, intelligent detection, special machine tools for heat exchangers, unmanned automated production lines, CNC machine tools, etc. In more than ten fields, the industrial layout from industrial robots to core components and CNC machine tools has been basically completed, providing solutions for customized industrial robot integrated applications and large-scale automated production lines. In 2022, the company’s marketing strategy of intelligent equipment with technology as the center, market breakthrough and model breakthrough focused on breakthroughs in CNC machine tools, robots and overseas markets.
Among them, in the field of CNC machine tools, Gree Electric focuses on the lightweight market of automobiles, rod-type machine tools extend to the die-casting market, and cut into the integration projects in the automotive field, and large-kilogram industrial robots won the bid for several industry demonstration projects; In the robot sector, the company has made a major breakthrough in the four core components of controller, driver, servo motor and reducer, and launched a full series of products such as five-axis CNC machine tools, vertical CNC machine tools, horizontal CNC machine tools and gantry machining centers. Five-axis CNC machine tools can process complex curved materials and are widely used in energy, automobile, general machinery and other fields. In overseas markets, the company has successfully entered the high-end markets in North America and Europe, and built high-end CNC machine tool demonstration projects in developed areas such as North America and Europe.
Talking about new energy: Gree Titanium new energy vehicles have been operated in many places.
In recent years, Gree Electric has been making constant moves in the new energy sector, successively holding Zhuhai Yinlong (later renamed Gree Titanium), Dunan Environment (002011) and other enterprises.
Talking about the business progress in new energy, Deng Xiaobo said that the company continued to exert its efforts in the field of green energy, devoted itself to the key technology research and product development of new energy appliances and near-user-side energy Internet systems, and cooperated to build a new ecology of energy informationization and DC, and promoted the transformation of green economy. At present, it mainly focuses on the layout of photovoltaic (storage) air conditioning plate, new energy vehicle plate and lithium battery plate.
Among them, in the photovoltaic (storage) air-conditioning sector, the optical storage air-conditioning system built by Gree Electric can drive the air-conditioning operation in the shortest path, and the utilization rate of photovoltaic direct drive reaches 99% compared with the traditional photovoltaic power generation with three times of electric energy conversion and energy loss reduction, and has continuously made major breakthroughs in this field, and has continuously developed into a "zero carbon source" air-conditioning system, realizing the trinity of photovoltaic power supply, energy storage and electricity consumption.
At present, Gree photovoltaic air conditioning system has realized the full coverage of multi-connection, screw machine, centrifuge, condenser, modular machine and split machine, which effectively fits more application scenarios; Covering many types of typical climate zones around the world, it serves many countries and regions, and has reached more than 12,000 projects.
In the new energy vehicle sector, Deng Xiaobo revealed that the new energy vehicles produced by Gree Titanium have been operated in more than 230 cities in China, including Beijing, Shanghai, Guangzhou, Chengdu, Nanjing, Tianjin and Wuhan.
In the lithium battery sector, in 2022, Gree Titanium actively expanded the research and application of key technologies in various fields of new energy, and improved the traditional lithium battery bottleneck performance such as battery safety, low temperature resistance and high rate. Gree Titanium’s technology of "a lithium titanate composite material and its preparation method, negative plate and lithium ion battery" was successfully selected in the 23rd China Patent Award, which was the first and only lithium battery product technology selected in the new energy industry.
Deng Xiaobo also introduced that the thermal management of new energy vehicles in Dunan environment has extended the thermal management technology of new energy by virtue of the refrigeration technology foundation, and has become a reliable supplier of main engine plants such as BYD, Geely, Ideality, Weilai, Tucki, FAW, SAIC, Changan and Zero Run; And Yin Lun, Topp, Valeo, Mahler, Air Conditioning International, Ma Ruili, Southern Inter, Tenglong, Band-Aid and other air conditioning system vendors and pipeline vendors’ strong partners.
At the same time, we have established good cooperative relations with battery enterprises such as Contemporary Amperex Technology Co., Limited, Zhongchuang Singapore Airlines and Guoxuan Hi-Tech, as well as commercial vehicle enterprises such as faw liberation, Geely Commercial Vehicle, Yutong and CRRC, and the development of other key customers is being carried out in an orderly manner. In 2022, the revenue of the company’s automotive thermal management industry was 200 million yuan, a year-on-year increase of 290%.
It is worth mentioning that Deng Xiaobo is not only the director, vice president and secretary-general of Gree Electric, but also the chairman of Dunan Environment.
"As a large industrial group, the company’s industrial chain has extended to automobile air conditioning, motor electronic control, intelligent equipment, molds, castings and other fields. In recent years, the company has successively acquired Gree Titanium, Dunan Environment and other companies to improve the industrial chain layout. The company’s acquisition of Gree Titanium can quickly cut into the fields of new energy automobile industry chain, energy storage and battery manufacturing equipment, which is in line with the company’s long-term development interests. The company’s acquisition of Dunan Environment aims to improve the competitiveness of the company’s air-conditioning upstream core components and the stability of the supply chain, and improve the industrial layout of the company’s new energy vehicle core components. In the future, the company will gradually build a diversified and high-tech global industrial group, ensure the independent control of core components, improve the layout of the industrial chain, and further consolidate its business competitive advantage. " Deng Xiaobo said.
On channel reform: the integration of online and offline lines
Gree Electric’s channel reform is also a topic of great concern to investors.
Deng Xiaobo pointed out that Gree Electric has established a self-controlled, mutually beneficial and win-win sales channel and sales model, and implemented the "new retail" marketing model reform of online and offline integration. Based on 30 regional sales companies, over 30,000 offline outlets and official flagship stores of third-party e-commerce platforms, it has established a nationwide dual-line sales network, providing dual-line linkage integrated services of offline experience, online ordering, national unified distribution and installation.
On the concrete action level, Gree Electric has initiated the reform of digitalization of the whole system, taking "Gree Cloud Network Batch" as the representative, connecting the channel system, the warehousing system, the logistics system and the dispatching system in series, so as to realize all-round information access to the Internet and empower the channels through digitalization.
In terms of order management process, we continue to explore digitalization and warehouse network optimization. In the aspect of intelligent dispatching, intelligent dispatching is used instead of traditional manual dispatching to improve the efficiency of dispatching service.
For predictive maintenance, ID cards of data acquisition equipment are installed for the sold online air conditioners, which are distributed in various provinces and cities in China. Through the multi-connected air conditioner, the machine operation data of the big data platform is returned every day, so as to dynamically grasp the operation situation of the equipment, carry out operation and maintenance in time, and allocate the maintenance personnel and accessories in the sales area more reasonably and intelligently.
In the transformation of stores, by introducing digital devices such as smart shopping guide big screen, cloud shelf and electronic price tag and upgrading the store image, offline stores not only have offline and online sales functions, but also become a scene space for experience, meeting people and communication.
In terms of channel diversification, Gree Electric adopts the strategy of parallel online and offline diversified sales channels. Among them, online channels finely develop category merchants, and weak categories seek breakthroughs; Offline channels focus on developing ice-washing, kitchen and electric direct sellers and agents.
The company strengthened its deep cooperation with the three-party e-commerce platform, jointly developed sinking channels with JD.COM and opened up nearly 600 Gree+JD.COM joint stores; The sales of JD.COM stores and Tmall premium products continued to improve, further expanding the market scale of sinking channels.
At the same time, "Store in Dong Mingzhu" has been successfully transformed into an open platform, which serves as a docking terminal retailer for all kinds of e-commerce platforms, laying a foundation for online and offline integration and the promotion of online batch mode. In addition, the company laid out new retail channels in the form of live broadcast and community marketing, and gradually created a new media matrix.
Proofreading: Liao Shengchao