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Forensic Analyst

Jason Yap, CFA

Forensic Accounting

Gree Electric Appliances / Forensic Accounting

Founded in 1991 by Chairlady Dong Mingzhu, Gree manufactures air-conditioners under the “Gree” brand and primarily leverages on its strong offline retail network.  Relative to its peers like Midea and Hai Er, Gree has struggled to re-invent itself in terms of product innovation, channel reform and e-commerce adoption, particularly in the wake of the pandemic disruptions in H1 2020.This article examines the organisation structure and corporate governance environment at Gree and how these factors might have contributed to Gree's business lagging its peers, particularly in relation to Chairlady Dong's domineering personality and Gree's longstanding and closely intertwined relationship with its offline distributors.

Founded in 1991 by Chairlady Dong Mingzhu, Gree manufactures air-conditioners under the “Gree” brand and primarily leverages on its strong offline retail network.  Relative to its peers like Midea and Hai Er, Gree has struggled to re-invent itself in terms of product innovation, channel reform and e-commerce adoption, particularly in the wake of the pandemic disruptions in H1 2020.This article examines the organisation structure and corporate governance environment at Gree and how these factors might have contributed to Gree's business lagging its peers, particularly in relation to Chairlady Dong's domineering personality and Gree's longstanding and closely intertwined relationship with its offline distributors.  

Gree Electric Appliances - Common Interests in Uncommon Areas