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Source: Times Finance Author: Guo Meiting

Recently, Dong Mingzhu, chairman and president of Gree Electric Appliances, had a conversation with well-known business anchor Zhang Qi in the live broadcast room. When talking about the topic of "Dong Yuhui and Oriental Selection's peaceful breakup", she said that everyone has a scale in their hearts and this may be a personal choice.

At the same time, Dong Mingzhu emphasized that "like-mindedness is important, and it is best to use time to verify." She said that only integrity can win the market.

According to a previous report by the Times Weekly, on July 25, Oriental Selection issued an announcement stating that Dong Yuhui has decided to no longer serve as an employee of the company and a senior management of a merged affiliated entity of the company. The resignation was due to Dong Yuhui's career ambitions, his commitment to his other careers and personal time arrangements, and took effect on the day the announcement was issued.

According to the announcement, Dong Yuhui acquired 100% of the equity of Yuhui Tongxing for RMB 76.5855 million. Since July 25, Yuhui Tongxing has officially become independent from Dongfang Zhenxuan.

"In order to ensure that Yuhui Tongxing has a better development stage and avoid business conflicts and public opinion disputes, the two of us have repeatedly negotiated and finally decided that after the end of the fiscal year (May 31), I will ask the board of directors for approval to transfer 100% of Yuhui Tongxing's shares to Yuhui himself." Yu Minhong responded in an open letter released on July 25.

In addition, Yu Minhong recently gave a training speech for rural teachers in Ningxia and took the initiative to publicly respond to Dong Yuhui's "Walk with Hui" spin-off of Dongfang Selection. Yu Minhong said that he has his own standards in life, follow the path you think is right, let time prove whether you are right or wrong, continue to stick to the right, and work hard to correct the wrong.

On August 12, Oriental Selection's stock price opened low and continued to fall. As of press time, Oriental Selection fell 3.63% to HK$11.140 per share.

In fact, Dong Mingzhu has also encountered the company's "Internet celebrity" flying solo before. According to the Daily Economic News, in July 2021, Meng Yutong participated in the workplace reality show "We New to the Workplace" and was appreciated by Dong Mingzhu. He got the final chance to become a regular employee and joined Gree Electric. During his tenure, Meng Yutong had a very close relationship with Dong Mingzhu and was once trained as the "second Dong Mingzhu".

In May 2022, the resignation of "Internet celebrity" Meng Yutong from Gree Electric Appliances caused heated discussions across the Internet. Later, there was news that Meng Yutong did not resign voluntarily, but was fired for violating company discipline. The reason was that during her tenure in the company, she often absented herself from work to participate in business activities and take private work, and after the company talked with her, she continued to carry out related activities and did not improve.

After Meng Yutong left, Dong Mingzhu made comments about Meng Yutong in interviews or public occasions many times. At the end of last year, Dong Mingzhu mentioned Meng Yutong again when she gave a speech at the company's 2023 college student induction ceremony. She angrily denounced Meng Yutong for being a secretary who "can't even write a single article" and became an Internet celebrity with the help of Gree's platform, "We can no longer tolerate such people in Gree."

According to a subsequent report by Jiupai News, Meng Yutong responded to the incident by saying that she was preparing for the exam and it was not convenient for her to respond to some things. According to Meng Yutong's previous posts, she was applying to study abroad for a master's degree. Half a month later, Meng Yutong posted on the social platform again, saying, "If your heart is fulfilled, you will have no regrets in the world" and "Life is long and there are answers."

In March this year, Dong Mingzhu once again responded to the question of "How do you view your subordinates becoming Internet celebrities?" She frankly said that the duty of every employee is to be responsible for the company, "No matter who my 'subordinates' or 'superiors' are, as long as they do things that are beneficial to the company." In response to this, some netizens commented that "President Dong should have let it go."

In addition, during the conversation, Zhang Qi also mentioned why Gree spent 200 million to develop mine air conditioners. Dong Mingzhu said that the risk of gas explosion, poor air circulation and high temperature in the mines caused miners to have to "go to work almost naked". Although the development of mine air conditioners is technically difficult and has a small audience, "no matter how much research and development funds are invested, it is a social responsibility."

(Times Finance, compiled by Guo Meiting from The Paper, Securities Times, Time Weekly, National Business Daily, and Beijing Business Daily)