Gree’s “Iron Lady” Dong Mingzhu Reunites with Protégé Meng Yutong in Livestream Frenzy: A Strategic Pivot or a Sign of Desperation?
After two years of public tension, Gree Electric Chairwoman Dong Mingzhu and her former assistant Meng Yutong staged a dramatic reunion during a live-streaming event on May 23, triggering a surge of attention for the company’s flagship e-commerce channel. The joint appearance—dubbed a “historic reconciliation” by viewers—yielded 2.92 million viewers and 5 million yuan ($690,000) in sales within hours, eclipsing the channel’s typical daily sales of around 50,000 yuan.
Addressing years of speculation about their relationship, Dong framed Meng’s 2023 departure as a learning opportunity rather than a betrayal. “Sincerity defines human relationships. To me, Yutong is like a child,” she said, acknowledging that the former executive assistant “made significant mistakes” while emphasizing that Meng “did not maliciously leak company secrets” nor join a competitor. The statement notably softened Gree’s previous claims that Meng was terminated for “frequent absenteeism” and prioritizing personal branding over corporate duties.
While the livestream boosted sales of air conditioners and kitchen appliances, not all products shared the limelight. A high-end facial beauty device promoted by Dong, priced at 9,800 yuan post-discount, sold just four units—a stark reminder of Gree’s uphill battle to diversify beyond its core HVAC business, which still accounts for 78% of its 189.1 billion yuan ($26.1 billion) annual revenue.
The spectacle underscores broader challenges facing China’s home appliance giant. Gree reported its first revenue decline in four years for 2024, down 7.26% year-on-year, amid intensifying competition from tech-driven rivals like Xiaomi. While Dong has aggressively pushed into healthcare and smart home products through initiatives like the “Dong Mingzhu Healthy Home” brand, market observers question whether her personal brand—a double-edged sword following controversies over unconventional product designs and hiring policies—can single-handedly drive transformation.
Analysts note the 71-year-old executive’s embrace of livestreaming reflects both adaptability and vulnerability. Having personally championed Gree’s digital pivot since 2020, Dong now faces mounting pressure to prove that short-term viral moments can translate into sustainable growth. As she begins her fifth term as board chair, the “Iron Lady” must navigate a precarious balance: leveraging her celebrity status without letting it eclipse institutional resilience.
Gree’s livestream success highlights shifting consumer dynamics as legacy manufacturers vie for relevance against integrated tech giants.
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