June 26 (NBD) -- The 2017 annual shareholder meeting of Gree Electric Appliances Inc of Zhuhai (Gree, 000651.SZ) was held on Monday in South China's Zhuhai.

Dong Mingzhu, president of the appliance manufacturer, said at the meeting that the decision of not paying out dividends in 2017 was based on Gree's strategy to expand its presence in new areas such as intelligent equipment and integrated circuits. But she promised that Gree's investments in the chip sector will not affect the company's dividend payment plan.

Besides, Dong pointed out the company will not consider acquiring Henan Xinfei Electric Co., Ltd. 

Email: zhanglingxiao@nbd.com.cn