Dong Mingzhu

  • Post author:
  • Post category:China

Name: Dong Mingzhu

Country: China

Date of Birth: August 1954

Education: Graduated from the Wuhu Institute of Technology in Statistics.

Type of Business: Entrepreneur, Businesswoman, Chairperson of the Board of Gree Electric

Main Achievements: She was honored as the Most Influential Chinese Business-woman by the Fortune Magazine in 2014 and 2015 consecutively. She generated a whopping 140 Billion Yuan revenue from Gree Electric in 2014.

Something Interesting About the Person: Dong wrote an autobiography with the title “Regretless Pursuit” in 2006, which was later featured in a TV series.

Biography:

Dong Mingzhu was born in August of 1954 in Zhuhai, Guangdong, China, in a middle class working family. Mingzhu was the youngest among seven siblings. The sternness of her character can be attributed to her love of becoming a soldier as a youngster. 

Dong went to the Wuhu Institute of Technology in the province of Anhui, China. She graduated in Statistics in 1975. After her academic career, she pursued a government job and got recruited at a government based chemistry laboratory in Nanjing, China. Dong worked for 15 years in that firm. During her tenure, tragedy struck, and her husband passed away. She was left with a 3-year-old son to take care of.

It was time for Dong to step up life’s game and make a fortune of her own and for her son. Dong quit her job and went off to the prefecture-level city of Zhuhai in the Guangdong province of China. She left her toddler in the care of his grandmother. Dong started her search for a job and eventually got hired in Gree Electric, which was then called Haley. She got the job of a salesperson. However, due to her stupendous efforts in paying and recovering the company’s liabilities, she earned the position of the Head of Sales. Dong kept her un-rippled tread and in 2001, she escalated to the position of the President of the company. Dong has guided Gree through every obstacle and her steeliness paid off as Gree surged through all the middle class and elite brands and became Asia’s largest household brand.

As old and as steadfast Gree’s accomplishments are, the same can be said for Mingzhu. She has always had an actively scheduled work ethic, which can be proven by the fact that Dong has never taken a paid leave in her 27 years of service. In 2012, Dong was appointed as the chairwoman of Gree Electric as well as of the parent company Gree Group.

When Dong joined Gree, she was given the poorer and under-developed region of AnHui. However, it worked to Dong’s fortune and she was able to up the sales and generated a revenue equalizing 1/10th of the whole company’s capital in a short span of 18 months. 

In the ’90s, air conditioners were regarded as an expensive luxury but with the advent of the new century, air conditioners took up a necessary role. China uses the world’s most significant number of AC’s among which Gree contributes the most significant portion. Under Dong’s strong leadership, Gree’s revenue has continued to increase with a record 140 billion Yuan in 2014 and 155 billion Yuan in 2018. This iron lady has managed to increase the company’s capital by 2300% since she joined. Due to the entrepreneurial tenacity of Dong Mingzhu, Gree has sailed well with its innovations in sales, customer, and employee policies. Today, Dong heads seven companies, among which Gree has the largest market capitalization approaching 17.8 billion pounds. 

Currently, Dong is working with the top engineers and specialists to bring solar power, robotic technology, and recycling plants into Gree to maximize its work potential further and nurture it. According to the annual report issued by the stock exchange Gree has gained a capital of 45 and 65 percent on smart equipment and home appliances, respectively. Gree has a net worth of a whopping 22.5 billion dollars as of today. 

She is referred to as ‘sister Dong’ by the people. She has been regarded as the most influential and robust business-women of all time. In 2013, she was named the 4th Most Powerful Woman in Asia. Dong has also authored two books. She is also a part of the executive committee of the All-China Women’s Federation.

Links:

www.superbhub.com

www.marketscreener.com

www.forbes.com

www.scmp.com