(Yicai Global) Sept. 25 -- Renowned Chinese female entrepreneur, Dong Mingzhu, chair of Gree Electric Appliances Inc. of Zhuhai [SHE:000651], has once again refuted rumors that her company will become a shareholder in Chinese carmaker Tianjin FAW Xiali Automobile Co. [SHE:000927], this time in an interview with state-operated CCTV Finance.

"As far as I'm concerned, it is impossible for us to make any other investments," she said.

Gree has plans to invest in Tianjin FAW Xiali and completely transform its business so that it produces new-energy vehicles, according to recent speculation.

"The company and its management team have never negotiated share purchases with Tianjin FAW Xiali," said a statement from Gree.

The car manufacturer's controlling shareholder China FAW Group recently confirmed plans to transfer its holdings in the subsidiary through public solicitation, which would lead to changes in the make-up of its controlling shareholders.