(Yicai Global) Dec. 12 -- Leading Chinese home appliance manufacturer Zhuhai Gree Electric Appliances Inc. [SHE:000651] made CCTV’s top ten listed companies lineup.
Gree Electric President Dong Mingzhu attended the award ceremony and said that the company has paid more than CNY36 billion (USD5.44 billion) in dividends in the past five years.
Over the years, investors got returns from the firm’s stock value and from its development, said Dong. The company has shelled out over CNY40 billion in dividends since its establishment, he said.
Dividends are only an index of listed groups and sustainable development is more important, Dong said. “In the past, most Chinese enterprises relied on foreign technologies to develop. Now, Chinese technologies should be on the world stage instead of only letting foreign technologies come into China.”
Enterprises must cultivate their own research and development teams and talents to have core competitiveness, he said. Gree Electric has 10 research institutes and 70 research offices, Dong said.