A joke about the merger and acquisition of listed companies

Read quickly in 30 seconds.

1, Gree has a 5G mobile phone. When someone treats Gree as a joke, Dong Mingzhu is serious and persistent. She never thought that Gree's mobile phone would fail.

2. After half a month's listing, the sales volume of Gree 5G mobile phones in official website has only broken 2,000, and the third-generation Gree mobile phones listed on 20 18 have also been removed from the shelves in official website. This mobile phone has been on the market for three years, only sold more than 10000 units, and even lost to the sales of some models of Xiaomi mobile phone for one month or one day.

3. Why is Dong Mingzhu obsessed with mobile phones? Are you angry with Lei Jun, or do you want to lay out the entrance of smart home? Gree 5G mobile phone, another serious joke?

People who like to follow the trend will definitely smell the wave of 5G replacement. Both the hot iPhone 12 and the grounded thousand yuan machine are prefixed with 5G.

However, when Gree Electric, a star enterprise, also took the last bus of the first year of 5G and launched a 5G mobile phone named after its sub-brand, Dasong, it ushered in another sales failure in the mobile phone industry.

The famous saying in the fashion circle, "The trend is perishable, but the style lasts forever", seems to be quite applicable to Gree leaders in manufacturing. Dong Mingzhu, the chairman of Gree Electric, became a topic only last month because of a master's thesis on CEO narcissism and its economic consequences. Take Gree Electric as an example, he was recently taken to the hot search of "Dong Mingzhu doesn't think Gree mobile phone failed" by the newly listed Dasong 5G mobile phone.

Making cars, mobile phones and chips, even though Gree's many cross-border attempts caused a lot of public controversy, Dong Mingzhu never questioned his decision. Since the release of the first mobile phone on 20 15, Gree has never made a name for itself in the industry. If the Gree 5G mobile phone is also "overturned" this time, what will be the reason for diss?

On October 20 19, 1 1 year 10, Gree Electric revised its Articles of Association, deleting "operating telecommunication business and value-added telecommunication business". For this adjustment, the outside world can't help but guess that Gree Electric is ready to give up the mobile phone business.

However, the official response said that they did not give up making mobile phones, but only handed over the mobile phone business to their subsidiaries. Gree will not only continue to build mobile phones, but also build 5G mobile phones.

In the past year, Gree has stumbled to fulfill the promise of 5G mobile phones. On February 7th, 65438, Gree official mall launched a Dasong 5G mobile phone made by its subsidiary Dasong.

65438+February 8 Gree Dasong 5G mobile phone screenshot, source: Gree official mall

Equipped with Snapdragon 765G ultra-fast 5G chip, it supports 4-band dual-mode 5G full netcom, up to 8GB+256GB memory, equipped with 6.8 1 inch FHD+ full screen, rear flagship four-camera, and 64 million pixels. The price is divided into two grades: 2699 yuan and 2999 yuan.

Snapdragon 765G is a mid-range processor, which is widely used in cost-effective models, such as Redmi K30, vivo Z6, Xiaomi 10 Youth Edition, etc., and the price is mostly in the range of 2000 yuan.

Take Redmi K30 as an example, the main configuration is the same as that of Dasong 5G mobile phone, and the price is only 1999 yuan, which is cheaper than the same grade Dasong 5G high-end version 1000 yuan.

According to media reports, the sales volume of 5G mobile phones in Dasong was less than 30 units on the first day, and it failed to break 1,000 units after being put on the shelves for one week. As of 65438+February 2 1, and five days after its launch1,the sales volume of Dasong 5G mobile phone in Gree official website was 1956, and the sales volume of Gree Dong Mingzhu store applet was 2284, among which the sales volume of Aurora mobile phone was exactly the same as that of official website.

By 12, 2 1, 14: 00, official website showed that 1956 sets of 3G mobile phones were sold in Dasong. Source: Gree Official Mall.

Since the first generation of Gree mobile phone 20 15 came out, the "low price and high distribution" has never stopped.

Gree's first-generation mobile phone uses Snapdragon 4 10 quad-core processor, 1GB+8GB memory, 8 million pixels, Android 4.4.4 operating system, and the price is 1600 yuan.

This price/performance ratio is not even comparable to the first generation red rice Note mobile phone released by 20 14. Red Rice Note 4G Enhanced Edition is equipped with Mediatek MT6592 eight nuclear processor, 2GB+ 16GB memory, 1300 pixels, only available in 99 yuan.

By 20 18, the configuration of Gree's third-generation mobile phones still lags behind the market in the same period. On the hardware level, at that time, Snapdragon 855 processors and 6GB+ 128GB mobile phones were all over the street, but Gree's third-generation mobile phones still used the Snapdragon 82 1 processor released on 20 16, the storage combination of 4GB+64GB, and the same configuration models, such as the LeTV Pro3 with Snapdragon 82 1.

On the software level, the Android 7. 1.2 system adopted by Gree's third-generation mobile phone is also two generations behind the popular Android 9.0 system at that time.

Another big difference of Gree's mobile phone is that the photo of Dong Mingzhu, the head of Gree, is pre-installed.

Dong Mingzhu's photo was taken as a boot screen after Gree's first mobile phone went on the market.

Source: Network

In this regard, Dong Mingzhu said: "Why does Gree mobile phone use my photo as the boot screen? Not because of saving advertising fees, but because I want to tell consumers that I am the founder of Gree mobile phone, which is a respect for consumers. " In her view, Gree mobile phones do not fight price wars to rush sales, which is a performance that is responsible to consumers.

Without market and word of mouth, is it too early to talk about being responsible to consumers?

In the face of bleak sales data, "Iron Lady" adopted the way of "self-production and self-marketing" to digest. At the beginning of 20 17, Gree's second-generation mobile phone was included in the employee's year-end bonus. After the Spring Festival, all employees are required to use Gree mobile phones, otherwise they cannot enter the company.

Source: Network

In addition to employees, Gree mobile phones were also "bundled and sold" to suppliers who purchased air conditioners, and were forcibly "Amway" to installation workers. Otherwise, they will not be able to log in to the system to receive work orders normally, making the latter call "I can't afford it".

Source: Network

Chen Zeng, then head of the marketing department of Gree Electric, said that Gree did not force suppliers to purchase mobile phones, but only cooperated for mutual benefit. Dong Mingzhu's response is even more domineering: "You are my employee. Why don't you use my mobile phone? You have no confidence in your product. Why should the market recognize you? "

Dong Mingzhu's determination to make a mobile phone has not been shaken by the "bad prospects" of the outside world. She believes that Gree mobile phone has not failed, and making a mobile phone can bring many technical extensions. Gree has always insisted on independent research and development, and success is only a matter of time.

Where will the technical extension of Gree mobile phone point? The boot screen seems to be the answer. Below the photo of the person in charge of the company is an "ambitious" greeting: "This is one of the first mobile phones launched by Gree after it entered the global top 500. It can not only have interpersonal communication, but also open the door of Gree's "smart and environmentally friendly home".

When did Gree, who is mainly engaged in air-conditioning business, begin to participate in the blueprint of smart home? 20 18, "gree zero-carbon healthy home" was launched in the world, integrating two smart home systems of "energy saving" and "intelligence", so that the home can realize one-stop energy control independently.

As early as 20 14 annual report, Gree indicated that it would enter the smart home field in the future, and it would connect smart homes with Gree mobile phones as the center.

Source: Gree 20 14 Annual Report

According to the calculation of the information center of household appliances industry, by 2020, the intelligent rate of white electricity, household appliances and kitchen appliances will reach 45%, 28% and 25% respectively, and it is conservatively predicted that smart household appliances will bring 1.2 trillion yuan of market demand in the next three years.

Source: Prospective Industry Research Institute.

Gree did not choose the wrong path, but in contrast, Midea and Haier, which have more successful product diversification, may have more say.

In the revenue composition of Midea Group, HVAC and consumer appliances accounted for 43. 12% and 35.72% respectively. In 20 18, midea launched COLMO, a high-end brand of AI technology home appliances. According to the official battle report, the sales volume of COLMO Double 1 1 increased by 29.94% year-on-year, and its share in some high-end markets was outstanding.

Haier relies on COSMOPlat, an industrial internet platform, to let users participate in the intelligent manufacturing system. Haier Zhijia App was launched on February 20 19, which turned "selling items" into "selling scenes". Consumers can not only buy goods online, but also control smart home appliances.

Although Gree's sub-brands include Dasong, which specializes in household appliances such as heaters, rice cookers, humidifiers and electric fans, and Jinghong, which specializes in refrigerators, washing machines and kitchen and bathroom appliances, the market volume is not large. Aside from air conditioning, Gree's household appliances revenue accounted for only 3. 19%.

Gree Electric's operating income constitutes the proportion of products. Source: 2020 semi-annual report.

It is still difficult to expand the territory of home appliances. How to pry open the door of smart home with mobile phones?

Rather than seeing the prospect of smart home, it is Gree's obsession with mobile phones, more like a "tragedy" caused by a "billion bets".

Source: Network

20 13, Dong Mingzhu and Lei Jun bet one billion, and it was agreed that whoever had the highest turnover would win after five years.

Since then, Gree has officially entered the field of smart phones. Unfortunately, with the label of "low price and high price", Gree mobile phone has not been able to occupy a place in the market so far.

In the official mall "Gree Dong Mingzhu Store", the total sales volume of Gree third-generation mobile phones in the three years from 3,400 yuan to 65,438+February 65,438+June 6 was only over 1 1,000, even less than the sales volume of some models of Xiaomi mobile phones in one month or one day.

Despite this, Gree never gave up in the competition with Xiaomi.

According to the global smart home invention patent list for the first half of 20 19 jointly issued by IPRdaily and incoPat Innovation Index Research Center, Gree ranked second in the world with 2 19 patents, China ranked first, and Xiaomi ranked third with 12 1 patents.

In August this year, Dong Mingzhu also talked about "one billion bets" in CCTV's "Relativity" dialogue program, saying that Xiaomi products are basically OEM, which belongs to light assets, while Gree's household appliances have always insisted on making their own, which belongs to heavy assets, and the two are not on the same plane. In five years, Gree won.

Source: Network

Interestingly, in the second year after the expiration of the gambling contract, Xiaomi's revenue exceeded Gree. However, Dong Mingzhu did not regard the sixth year as a narrow victory for Xiaomi, laughing that it was the beginning of the second "five years".

If it is really the second "five years" from 20 19, then Gree's smart home story has just begun. Can we still rely on the core technology of air conditioning to escape?

According to the research report of CMB International in June 5438+February, the current competition pattern of smart home market is scattered, and both Apple and domestic mobile phone brands (Huawei/Xiaomi /OPPO/vivo) have layouts, among which Xiaomi enjoys the first-Mover advantage, and adopts the "smart phone +AIoT" two-wheel drive mode to build a perfect product structure. The next stage aims to expand the home appliance series represented by smart TV.

Does Gree, who claims to connect smart homes with mobile phones, mean to imitate Xiaomi?

Throughout Xiaomi's industrial chain layout, mobile phone manufacturing, intelligent hardware, daily necessities, communications, chips, finance and so on. Both are involved, covering almost all Internet of Things products.

The ecological chain of mobile phone manufacturing alone includes many enterprises including screen, battery, display motherboard, glass, ceramic appearance, ODM and so on.

Source: Network

According to Industrial Research, by Q2 of 2020, Xiaomi has invested in more than 300 upstream and downstream industrial chain companies, and its after-tax net profit is110.60 billion yuan, an increase of 4 13% from the previous month. Now it has entered the "harvest" period from "sowing". Even though the sales of smartphones declined, the revenue of Internet of Things still maintained a positive year-on-year growth rate of 2. 1%.

On the other hand, Gree has not invested in the field of mobile phone technology and industrial chain, even though it has frequently crossed borders in recent years. Recently, foreign investment has focused on medical equipment and energy.

Therefore, the question about "Gree mobile phone is a waste of water" is always endless. For the latest Dasong 5G mobile phone, although Gree Electric calls it the deployment at the group level, we hope to better push its secondary sub-brand to the foreground.

Considering that Dong Mingzhu once announced that Gree would invest 50 billion yuan in the field of independent chips, and that "Huawei's (mobile phone) sales are the first, we will be the second", I'm afraid it's hard to say when Gree's mobile phone "masterpiece" will be seen.

Editor/Kicker

Typesetting/Jian Huang

Figure/Oriental IC, Gree Official Mall, Gree Financial Report, Prospective Industry Research Institute, Network

Source /IT Times WeChat official account vittimes