On June 5th, 2026, Zhuhai Gree Electric Appliances Inc. (Gree Electric) announced that Dong Mingzhu, the chairman of the company, and Zhuhai Mingjun Investment Partnership Enterprise (Zhuhai Mingjun), a major shareholder of the company, reduced their holdings of Gree Electric by 42,791,000 shares. Based on the closing price on the 4th, Zhuhai Mingjun cashed out 1.664 billion yuan.
According to the announcement released by Gree Electric on the 5th titled “Notice of Shareholder Holding Over 5% Equity Triggering Changes in Percentages in Multiple of 1%,” it stated that “Zhuhai Mingjun reduced the company’s shares by 42,793,100 shares on June 4, 2026, accounting for 0.7640% of the total share capital of the company and 0.7662% of the total share capital excluding repurchased shares.”
The announcement also mentioned that “prior to this change, Zhuhai Mingjun and its concerted action person Dong Mingzhu collectively held 1,014,846,297 shares, accounting for 18.1177% of the total share capital of the company and 18.1705% of the total share capital excluding repurchased shares. After this change, Zhuhai Mingjun and its concerted action person Dong Mingzhu collectively hold 972,053,197 shares, accounting for 17.3537% of the total share capital of the company.”
According to data from Dazhihui VIP, as of the close on June 4th, Gree Electric closed at 38.88 yuan per share. Based on this closing price, Zhuhai Mingjun cashed out 1.664 billion yuan in this reduction.
As early as February 26th this year, Gree Electric issued a “Pre-Disclosure Announcement of Major Shareholder’s Reduction of Shares,” stating that the major shareholder, Zhuhai Mingjun, planned to reduce the company’s shares by approximately 111.7 million shares through block trading within 3 months after 15 trading days from the announcement date, with the proceeds to be used for repaying bank loans.
In 2025, Gree Electric witnessed a decline in both revenue and net profit. According to the annual report for 2025 released by Gree Electric on April 29th, the company achieved an operating income of 170.447 billion yuan for the full year 2025, a decrease of 9.89% year-on-year; the net profit attributable to the shareholders of the listed company was 29.003 billion yuan, down by 9.89% year-on-year.
Not only Gree Electric shareholders but also as the Chinese stock market rises, many company shareholders and executives have announced reduction plans, with some companies even issuing multiple shareholder reduction notices. According to a report by the “Xinjing Bao” on May 27th, data from the Securities and Financial Data Service provider East Money showed that since April 2026, over 500 listed companies on the A-share market have announced reduction plans by major shareholders. Data from the Wind information database indicates that the total reduction amount planned by the major shareholders of these 500+ listed companies (calculated based on the closing price of the company on the date of the reduction announcement and the upper limit of the shareholder’s planned reduction quantity) exceeds 100 billion yuan. Among these companies covering various industries such as semiconductors, chemicals, machinery, and electrical equipment, many are industry leaders and popular stocks that have doubled in price within the year.
Information from Tianyancha shows that Zhuhai Mingjun Investment Partnership Enterprise (Limited Partnership) is a limited partnership enterprise operating in the form of a private equity fund, with its core businesses including equity investment, investment management, and asset management activities.