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market, Gree Gree Group's consolidated equity holders decreased from 58.67% at the end of 2005 to 19.37% at the end of 2012, Gree formed by the state shareholder (Gree Group), strategic investors (River Beijing Hai), QFII funds and other institutional investors as well as other diversified management Gree structure of shareholders. 1 bonus share reform in the tradable shareholders,