Gree Electric Appliances announced its intention to acquire 24.54% of

Published: Dec 25, 2023 09:58

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Gree Electric Appliances announced its intention to acquire 24.54% of the shares of its subsidiary Gree Titanium New Energy Co., Ltd. for approximately 1.015 billion yuan. After the completion of the transaction, Dong Mingzhu will control a total of 72.47% of Gree Titanium shares. Gree Titanium has not yet turned a profit, and as of June 30, 2023, its total liabilities amounted to 24.245 billion yuan. The following day, Gree's stock price plunged, causing its market value to plummet by over 13 billion yuan.

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