(Yicai Global) Dec. 29 -- Chinese air conditioner behemoth Gree Electric Appliances said it will pay a CNY5.5 billion (USD800 million) dividend for the first half of this year and launch a live-streaming e-commerce platform.

Shareholders will receive CNY10 (USD1.40) for every 10 shares they own, the Zhuhai-based company said in a statement yesterday following an extraordinary general meeting.

The white goods maker will also build a live-streaming sales platform through unit Gree Digital Technology, a company insider said yesterday. The new platform will sell home appliances and farm produce while integrating shopping and social functions, the person added.

Gree Digital was set up on Dec. 21 with registered capital of CNY50 million (USD7.2 million).

Gree is not short of cash. It turned a net profit of CNY10.1 billion (USD1.5 billion) in the first half of this year, with net profit available for distribution to shareholders standing at CNY59.6 billion (USD8.6 billion) as of June 30.

At the firm’s extraordinary general meeting, it was also decided that Gree's electric vehicle and battery unit Gree Altairnano New Energy and its subsidiaries will provide mutual guarantees of up to CNY4.4 billion next year. 

Gree [SHE: 000651] closed 1.3 percent down at CNY32.16 (USD4.60) a share today, or more than 14 percent lower than at the beginning of this year.

Editors: Shi Yi, Emmi Laine, Xiao Yi