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  • Title
    Chairwoman and President
  • Affiliation
    Gree Electric Appliances
  • Country
    China
  • 2020 Rank
    5

Electric-appliances maker Gree had a tough 2020, but showed signs of renewal in 2021 as the company inked new partnerships and continued to invest in new technologies. After recording a 15% drop in revenue and 10% dip in profit in 2020, Gree’s revenue jumped 30% to $14 billion and profit rose nearly 48% to $1.5 billion year on year in the first six months of 2021. The shuttering of physical stores in 2020 galvanized Dong, known as China’s “home appliances queen,” to focus on Gree’s digital efforts. Gree recently signed a deal with Huawei to install the mobile firm’s HarmonyOS operating system in its smart-home appliances, and Gree plans to launch new products via Amazon this year. In recent years, Gree has also ramped up R&D efforts in its smart equipment, semiconductor, and medical equipment business segments. This April, Gree air conditioning technology that runs on renewable energy won the Global Cooling Prize, jointly awarded by the Indian government and sustainability think tank Rocky Mountain Institute.

 

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