"2.2.8", in Cantonese it is a homophone of "Yi Yi Fa", which implies rolling in money. On February 8, 2012, the newly appointed chairman of Chigo Air Conditioning, Zheng Zuyi, led his team to release the world's first full DC frequency conversion cloud air conditioner in Foshan, playing his technical card. At the press conference held on that day, Li Xinghao, the actual controller and former chairman of Chigo Air Conditioning did not appear before the media, implying that he had willingly handed over power. However, according to the reporter from The First Financial Daily, in fact, Li Xinghao had arrived at the venue on the afternoon of the previous day of the press conference. He held a symposium with the new management team of Chigo Air Conditioning and the core distributors, and hired 12 core distributors as marketing consultants. Li Xinghao's deliberate low profile obviously was hoping for more spotlight to be focused on the younger, more professional and internationalized new management team of Chigo Air Conditioning. Passing the Baton In the evening of January 4th, Chigo Holdings (00449.HK) announced that from that day on, technical expert Zheng Zuyi would replace Lei Jianghang as an executive director and vice chairman of the board of the company. Since January 1st, Zheng Zuyi has been appointed as chairman of Chigo Air Conditioning; Huang Xingke has been appointed as vice chairman and president of Chigo Air Conditioning.