Information Times News (Reporter Yuan Chan) a few days ago, Gree Electric Appliance announced that Wang Jingdong, the company’s director, vice president and Secretary of the board of directors, applied to resign from the post of director, vice president and Secretary of the board of directors for personal reasons. It is understood that Wang Jingdong has been Secretary of the board of directors of the company for 11 years since July 2009. Since the announcement, Gree’s share price fell for three consecutive days, and its market value shrank by 16.1 billion. < p > < p > it is reported that Gree Electric Co., Ltd. issued an announcement 10 days ago, announcing the dismissal of Wang Jingdong as the financial director and Liao Jianxiong as the company’s financial director. Wang Jingdong is a “veteran” of Gree Electric Appliance, and joined Gree Electric Appliance in November 2002. From November 2002 to April 2006, he has been an assistant; since January 2008, he has been the financial director of the company; since July 2009, he has been the Secretary of the board of directors; from October 2009 to August 2020, he has served as the vice president, financial director and Secretary of the board of directors. Up to now, Wang Jingdong has been working in Gree for nearly 18 years and is one of the core executives of Gree. After resignation, Wang Jingdong no longer holds any position in the company. In order to ensure the normal work of the board of directors, Zhang Wei, director of the company, will temporarily perform the duties of secretary of the board of directors on behalf of the company’s director Zhang Wei in order to ensure the normal work of the board of directors, and the subsequent company will employ the new secretary as soon as possible in accordance with relevant regulations. < p > < p > as for the further reasons for Wang Jingdong’s resignation, the reporter called the Securities Department of Gree Electric appliances, and the other party said that the company’s announcement information would prevail. Home appliance analyst Liang Zhenpeng believes that Wang Jingdong may leave for two reasons: the first is related to Gree’s performance. “This year, Gree’s revenue and net profit have declined significantly. On the one hand, the epidemic has brought a heavy blow to the whole household appliance industry; on the other hand, China’s air conditioning market has been seriously saturated, with little growth or even a certain degree of decline since 2019. If the performance declines, maybe some of Gree’s senior executives will take responsibility, or their positions will be adjusted to a certain extent. ” Liang Zhenpeng said. It is understood that Gree has not published this year’s semi annual report. However, according to the company’s previous performance forecast, its total operating revenue was 69.5-72.5 billion yuan, compared with 98.341 billion yuan in the same period last year; the net profit attributable to shareholders of listed companies was 6.3-7.2 billion yuan, down 48% – 54% from 13.75 billion yuan in the same period last year. < / P > < p > in addition to the decline in performance, it is also related to the mixed reform of Gree. Liang Zhenpeng pointed out that Wang Jingdong used to be the Secretary of the board of directors of Gree Electric Appliance Co., Ltd., and the entry of Hillhouse capital into Gree Electric Co., Ltd. may adjust the senior management team of Gree Electric Appliances to a certain extent, and the members of the board of directors may change in structure. Under this background, it is also possible for Wang Jingdong to resign. What is the impact of Wang Jingdong’s resignation on Gree? Gree said that Wang Jingdong’s resignation will not lead to less than the minimum number of members of Gree’s board of directors, nor will it affect the normal development of Gree’s board of directors and related work. As of August 20, wangjingdong directly held 884674 shares of Gree shares, accounting for 0.01% of the company’s total share capital. It is understood that since the announcement, Gree’s share price has fallen for three consecutive days. As of yesterday’s closing, its share price closed at 54.13 yuan, down 1.92%, with a total market value of 325.6 billion yuan, a decrease of 16.1 billion compared with 341.7 billion on the 17th. Liu buchen, an observer in the household appliance industry, believes that Wang Jingdong’s resignation will not have a direct negative impact, but will have an indirect negative impact. In an interview with the Information Times reporter, Xu Chunhui, an investment consultant of Yintai securities, said that the resignation of the secretary should be good news from the perspective of giving up the position of Hillhouse capital. As Hillhouse capital enters the board of directors, it is bound to affect Gree management and bring more high-end management to the company. On the evening of October 28, 2019, Gree Electric announced that Zhuhai Mingjun was the transferee of Gree Group’s 15% equity transfer; on December 2, 2019, Gree announced that Gree Group and Zhuhai Mingjun, the ultimate transferee, had signed a share transfer agreement.