In the breakdown area, the accelerated development of new energy vehicles has contributed to a steady increase in the value of their entire industry chain investments, with a further doubling of the value and volume of the core component power battery portfolio transactions over 2021; a different degree of growth in the wind, photovoltaic chain, storage and hydrogen energy industries; and a reduction in the volume and volume of investments in the new energy infrastructure block due to the reduction in large transactions related to centralized power stations.

Dunan environment, with refrigeration devices as its main business, has continuously expanded its business boundaries in recent years and entered the new energy vehicle track through the layout of key parts of the new energy vehicle thermal management system. In the view of insiders, Gree Electric’s move is to further enhance its holding position, enhance its voice in the field of core parts in the middle reaches of the refrigeration and air conditioning industry chain, and improve the layout of its new energy auto parts industry.

“For Gree, this benign expansion is relatively beneficial, especially when the market is at a relatively low level. Mergers and acquisitions and offers can not only get a complementary space between the control of listed companies and the industrial chain, but also increase equity income financially in the future,” said Xuan Jiyou, head of Qianmen assets and manager of private equity funds, in an interview with the Securities Daily

Why Dunan environment?

Dunan environment announced that since Gree has held 29.48% shares of Dunan environment, if Gree agreed to transfer 9.71% shares of Dunan environment, it will trigger the obligation of comprehensive tender offer.

Then, why does Gree Electric not hesitate to pay real gold and silver to continue to hold Dunan environmental shares?

It is understood that in recent years, Dunan environment has concentrated on the equipment manufacturing industry after business downsizing, involving two business segments. Among them, the parts segment covers refrigeration parts, new energy vehicle thermal management parts, etc., while the refrigeration equipment segment mainly includes three parts: commercial central air conditioning, special air conditioning and cold chain system.

The engine thermal management system is like installing a frequency conversion air conditioner for the engine to realize the intelligent control of the engine cooling system, which can reduce energy consumption and improve efficiency. At the same time, it is also a key field in the middle reaches of the new energy vehicle industry chain. This is an important direction for Gree Electric to regard it as a “new air outlet” and continue to increase its layout.

Zhou Haibin, founder of automotive culture, told reporters that Gree Electric’s enhanced control of Dunan environment can ensure the autonomy and controllability of core parts, and continuously expand and improve the layout in the field of new energy vehicle thermal management business.

In recent years, affected by the epidemic situation and the complex environment at home and abroad, the supply of both air conditioners and auto parts is relatively tight. While the supply chain is unstable, the price of raw materials continues to rise, making downstream manufacturers more passive.

In the view of insiders, Gree Electric appliance can kill many birds with one arrow by putting Dunan environment under its command. “Increasing the shareholding ratio of Dunan environment will undoubtedly provide it with a stronger voice in the air conditioning and new energy vehicle industry chain, and change from passive to active. At the same time, Gree Electric can also increase the size and layout of the hot cold chain industry in recent years.” Guo Shiliang, an expert of whale platform think tank and financial commentator, told the reporter of Securities Daily.

It is worth noting that due to the rapid growth of refrigeration accessories business, Dunan environment performed well last year. The annual report shows that in 2021, the company achieved a revenue of 9.837 billion yuan, a year-on-year increase of 33.28%; The net profit attributable to the parent company was 405 million yuan and the non net profit deducted was 379 million yuan. Among them, the net profit attributable to the parent company and the net profit deducted from the non parent company both reached a new high since the listing in 2004.

“If the subsequent Dunan environment maintains high-speed performance growth, it will also drive the performance improvement of Gree Electric Appliance, contribute more income and profits to its diversified sectors, and increase its investment value in the capital market.” Xuan Jiyou said.

“Iron Lady” active attack style reappearance

In fact, Gree Electric Appliance completed its ownership of Dunan environment in April this year. According to the announcement issued by Dunan environment on April 29 this year, Gree Electric transferred the shares of Dunan environment held by Dunan Seiko, accounting for 29.48% of the total share capital, and the transfer price was about 2.190 billion yuan. With the completion of the equity transfer registration procedures, Gree Electric officially became the controlling shareholder of Dunan environment.

However, becoming a major shareholder of Dunan environment is not easy. Recently, Zijin investment, a subsidiary of Zijin mining, signed an agreement with Dunan holdings to invest 7.682 billion yuan to acquire four asset packages of Dunan holdings, the second largest shareholder of Dunan environment.

Now Gree Electric plans to transfer shares, which shows its importance to the control of the company. If the acquisition is completed, combined with the previous 29.48% shares, Gree Electric will hold 39.19% equity of Dunan environment.

“As the major shareholder Gree Electric has no actual controller, Dunan environment also has no actual controller. Gree Electric has firmly grasped the control and discourse power in its hands by obtaining a high shareholding ratio, which is also the embodiment of Dong Mingzhu’s’ Iron Lady ‘style.” Zhang Jianfeng, Executive Deputy Secretary General of China household appliance business association, believes that.

Gree “electric” layout speed up

The acquisition of Dunan environment is only a corner of Gree Electric’s strategy. In 2021, it made two major acquisitions in succession, both around the refrigeration industry chain and the new energy vehicle industry chain, and both of them were completed by holding shares. Last August, Gree Electric invested 1.828 billion yuan to acquire 30.47% equity of Yinlong new energy, and renamed it Gree titanium new energy in November.

“The first step is to acquire Yinlong new energy, the second step is to enter Dunan environment and step by step enhance the controlling stake. Gree Electric appliance is improving its new energy and automobile industry chain from the perspective of batteries and parts, so as to accelerate the transformation of Gree from electric appliance to a more diversified scientific and technological group.” Guo Shiliang thinks.

Gree Electric Appliance moves frequently, or is playing a big game of chess. In February this year, at the shareholders’ meeting of Gree Electric, Dong Mingzhu said that Gree Electric has come to the time of truly diversified Gree “electric”, and is planning to separate and list the businesses of Gree equipment and industrial core components. In addition, Dong Mingzhu previously revealed that Gree’s CNC machine tools have the ability to process key auto parts.

“Gree Electric has frequently initiated mergers and acquisitions, which shows that its plan to build a new Gree has been accelerated and hopes to fight the next blue ocean. Today’s electrical engineering covers almost all engineering activities related to electronics and photons. In Gree’s’ electrical ‘layout, new energy, auto parts, intelligent equipment and so on are all changing the company’s ownership

Prior to joining AMD, Poirier served as senior vice president of corporate development and investor relations at Xilinx. Before that, he worked in the field of technology investment banking for nearly ten years and set foot in the semiconductor industry. Prior to his graduate study, Poirier held management positions in the U.S. Navy for more than six years. Poirier holds an MBA from UCLA and a Bachelor of science from the US Naval Academy.

The “cage girl” incident in Yulin, Shaanxi Province has once again aroused public attention to the problem of abduction and trafficking of women and children. But this time, the Ministry of public security responded with action - from March 1 to December 31, it will launch a special action to combat the crime of trafficking in women and children.

According to the requirements of the teleconference on mobilization and deployment held for the special action on March 2, the national public security organs should take the special action against the crime of trafficking in women and children as the key task of this year, and quickly set off a new upsurge in the fight against the crime of trafficking in women and children, “Quickly investigate and solve the current cases of trafficking, make every effort to solve the accumulated cases of trafficking, severely punish a group of criminals of trafficking, rescue a group of abducted women and children, resolutely eradicate the breeding soil of trafficking, and establish and improve the integrated working mechanism of prevention, crackdown, assistance and resettlement”.

At present, the crime of abducting and trafficking in women and children is still rampant, which will not only cause great harm to the abducted women and children and their families, but also undermine the harmony and stability of the country and society.

This is not only a social problem, but also a serious criminal crime from the perspective of legal regulation.

From the perspective of the provisions of the criminal law, for the purpose of selling, one of the acts of abducting, kidnapping, buying, trafficking, picking up and transferring women and children can be defined as abducting and trafficking in women and children.

In addition, the criminal law also establishes a separate crime of buying abducted women and children, hoping to jointly establish a criminal legal framework to prevent such crimes.

From the perspective of legal provisions, although the definition of this crime is very clear, there are still many practical problems in the practical application of the law. Coupled with other subjective and objective factors, this kind of crime continues to be banned repeatedly.

The main reason is that there is still a large buyer’s market for trafficking in women and children. In particular, the difference in the proportion of men and women in China is gradually widening. Coupled with the practical pressure of marriage bride price, house purchase and car purchase, it is becoming more and more difficult to marry a daughter-in-law in many rural or remote areas where family conditions are not optimistic. In rural and remote areas where traditional customs such as raising children to prevent old age and carrying on the family line are widespread, many families solve their problems by buying wives and children.

This bad habit coincides with the seller for the purpose of obtaining money, forming a huge market for abducting and selling women and children.

In May 2021, an express delivery network in Taiyuan, Shanxi Province used “family seeking tape” in soliciting mail. These specially customized tapes are printed with photos and relevant information of lost children.

In reality, the concealment of the crime of abducting and trafficking in women and children is becoming stronger and stronger, and the means are more diversified, changing from single abduction and theft to kidnapping, anesthesia, robbery and other means.

In judicial practice, there are many buyers who buy abducted women and children through acquaintances. They have a tacit understanding with each other, whether they adopt children or buy “daughter-in-law”. In order to achieve their own purpose, the buyers usually don’t easily explain their family when facing the investigation and interrogation of the public security organ, which also brings great resistance to the relevant investigation.

In addition to remote areas and rural areas, transnational and cross-border cases of trafficking in women and children also happen frequently. Such crimes often appear as gang cases, and the division of labor among the members is clear, forming a pattern of “Dragons”, including “trick, buy, pick up, transfer, sell”, involving wide geographical area and large span of time, even engaging in census, registered residence, Public officials such as medical and health officials act as umbrellas and thrusters, which further increases the difficulty of solving cases.

It is reported that the Ministry of public security has led the establishment of a special action leading group to crack down on the crime of trafficking in women and children. It can be predicted that with the launch of the special activities of the national public security organs to crack down on the crime of trafficking in women and children and the introduction of relevant policies, the criminal activities of trafficking in women and children in China may be effectively curbed.

However, after the special action, how to convict the buyer and the seller, especially the buyer, is still a difficult problem. In recent years, many experts and scholars advocate increasing the conviction and sentencing of the crime of buying and selling abducted women and children. They believe that only by increasing the punishment, can the crime be restrained to the greatest extent.

In this regard, the author has different views. The crime of abducting and trafficking in women and children usually involves many participants, different roles and division of labor, complex motives of buyers and great differences in situations. There are also great differences in the future lives of abducted women and children.

The simple emphasis on “the same crime of buying and selling” seems to have a certain practical rationality, but the excessive punishment is still difficult to “end” the buyer’s demand, which may also stimulate the buyer to take risks to hide the facts of the crime, and even “force” him to increase the restriction on the personal freedom of abducted women and children for fear of exposing the criminal behavior, And affect the rescue of abducted women and children by public security organs.

Stills of the film blind mountain.

Therefore, in practice, public security organs and judicial organs need to pay attention to the particularity of the case when handling the case, be lenient and strict in sentencing, reflect the criminal policy of Combining Leniency with severity, and realize the organic unity of political effect, legal effect and social effect.

For the buyer, if there is no abuse, restriction of personal freedom, rape and other acts on the bought women and children and does not hinder the rescue, he can be given a lighter or even exempted from punishment. On the contrary, in addition to investigating their criminal responsibility for the crime of “buying abducted women and children”, they also need to be punished for several crimes, such as abuse, illegal detention, rape, intentional injury and so on.

At the same time, we should not only focus on the sentencing in the criminal law, but also clarify the legal responsibilities of traffickers, buyers and intermediaries through detailed provisions. We should not only start from the “trafficking” at the source and the “buying” at the end of the crackdown on abduction according to law, It can also formulate a charge similar to the crime of “helping to commit crimes of information network crime”, “helping to destroy or fabricate evidence”, and help to provide accurate “conviction” such as “birth certificate”, “registered residence certificate” and “marriage certificate” to help the “accomplices” to be proved by the abduction and sale of women and children. So as to comprehensively improve the punishment of trafficking in women and children.

Only by implementing the criminal policy of tempering justice with mercy and accurately applying the law can the dual functions of punishment and relief be realized.

In the author’s opinion, the life of the law lies in the implementation, and the deterrent power of the penalty comes not only from its harshness, but also from solving the problem of abduction and trafficking

Leju buy a house 21:02:04, December 25, 2021