Dong Mingzhu, chairwoman of home appliance giant Gree Electric Appliances, delivers a speech at a mega investment promotional event's opening ceremony in Shandong via a video call. [Photo/dzwww.com]

"The COVID-19 pandemic has posed a great challenge to companies, including Gree. We lost millions of dollars in sales in the first quarter of the year, putting a lot of pressure on the company."

Dong said that the tough times have made her realize the importance of independent innovation.

"Innovation doesn't simply mean producing a particular product. It must come from talent," said Dong.

Dong said that in addition to air conditioners, her company also produces electric fans, water dispensers, heaters, and others products. She also expressed a desire to cooperate with Shandong and contribute to the province's development.