Overview
- Zhuhai Mingjun, holding 16.11% of Gree Electric, notified the company it may sell up to 111,702,774 shares—about 2% of the adjusted share base—via block trades.
- Trading can begin 15 trading days after the Feb. 25 disclosure and must occur within a three‑month window under the plan.
- Gree said the reduction will not trigger a change in control or affect listing compliance or the company’s ability to operate.
- At the Feb. 25 close of 38.49 yuan, a full sale would raise roughly 4.3 billion yuan, with proceeds earmarked to repay bank debt.
- Block trade buyers face a six‑month lockup on resales; media note this is Hillhouse’s first trim since its 2019 deal, and estimate a roughly 2 billion yuan loss on the investment after dividends and financing costs.