Last night, Gree Group's official account on WeChat (famous Chinese social network) announced that the company has signed some strategic cooperation agreements with Xiaomi and China CITIC Bank. The three sides agreed to pursue cooperation focused on industrial funds, financial services, industrial investments, project cooperation and resource sharing.
Xiaomi and Gree kick off a 4,39 billion euro cooperation
According to the agreement, Gree Group has invested 35,45 billion yuan, approximately 4,39 billion euros at the current exchange rate, to participate in the investment and management of the Xiaomi Industry Fund launched by Xiaomi Group. Fund aiming at the development of integrated circuits, artificial intelligence, industrial Internet, basic equipment and cutting-edge technology.
Gree stated that the company is interested in creating an interconnected ecosystem and that it will collaborate with different brands within Xiaomi's ecological chain.
In any case, at the signing ceremony, the president of the Xiaomi group, Wang Xiang, stated that Gree Group, as the leading state-owned company in the city of Zhuhai, is an important strategic partner of the Xiaomi group. Both sides have the same development objectives in terms of industrial investments and industrial cultivation with excellent synergy, complementarity and cooperation. So it will be a match destined to win.
Wang Xiang
It is believed that with the strong assistance of Gree Group, Xiaomi Group will have more resources to spend on innovating and will acquire new milestones in the field of industrial investments. Xiaomi will also accelerate some of the most important cooperations to reach agreements as soon as possible and will work to bring the first fruits of the strategic cooperation between the two parties.
For the uninitiated, Gree Group is the parent company of two publicly traded companies: Gree Electric and Gree Real Estate. With the former being the world's largest manufacturer of residential air conditioners, it also produces electric fans, water dispensers, heaters, rice cookers, air purifiers, water kettles, humidifiers and induction cookers.
