Zhang volunteered not to participate in the nomination of new directors. Zhou Yunjie was elected as the new chairman of the board and appointed as CEO. Liang Haishan was appointed as president.
During Zhang’s 37-year stint at Haier, the firm has grown from a Qingdao refrigerator factory with a sale revenue of only CNY 3.48 million but a deficit of CNY 1.47...
At a more typical 10-15% discount, the stock has 50-60% upside. The gap should eventually be closed. German shares are 100% equal, only downside is lower liquidity.
Continuing on the theme of China and its coming "roaring 2020s," I also post about Qingdao Haier. I walked in several markets and found this company displayed on shelves. Also, I like the quality of its air conditioner, refrigerators, washing machines and other home appliance. It competes with GREE. Haier is more trustworthy than GREE among the circle that I know.
