Each journalist Dong Qingzhi Wang Jingjing edited by Jia Yunke
Hundreds of billions of dollars in land resources, fierce attack on the US mobile phone market, is becoming the shadow of music crisis, cool self-help to open two magic weapon.
In recent days, Coolpad Group announced that it will co-develop the urban renewal project of Coolpad Harbor with Galaxy.In addition, executive vice president and international president Du Jinbiao, who took over the Coolpad mobile phone business, said in an interview recently that starting from September this year, the capital is no longer Cool big problem troubles, while Cool also in various ways to reach out to investors in all directions, he pointed out that it is storming the US market and focusing on quality phones to work, so that all partners to restore confidence in the cool.However, Economic News "reporter on the issue of funding to the Cool Group to prove that the relevant person in charge of cool, this announcement should prevail.
Kufa caught multiple crises
In recent years, affected by the crisis of music, cool days are not good.
Following the huge loss of HK $ 4.2 billion in 2016, Coolpad Group announced on the HKEx on August 15 this year that the Company has not undergone any improvement in its current operations and is still at a sustained loss. Based on the preliminary account of the unaudited consolidated management of the Group, As of 31 July 2017, the Group recorded operating revenue of approximately HK $ 2,716 million, representing a year-on-year decrease of approximately 52%. The Group's current assets have dropped below current liabilities and the pressure on the repayment of debt has increased recently.
On the one hand, the loss continued, the other is the debt lawsuit entangled in the tension of their own funds in the case, the Cool Group has been Ping An Bank, Bank of Ningbo (16.830, -0.29, -1.69% ) And Shanghai Pudong Development Bank (12.580, 0.05, 0.40%) sued, the three banks to recover a total of 240 million yuan of funds.
The face of a number of banks to recover debt, the performance of huge losses, the group valuation cut 85% of the institutions, the aging cool brand, even if Huawei has personally led the sales of glory 'within a year from 100 million to 3 billion' leap Liu Jiangfeng also seemed 'more than enough.' On the evening of August 31, Coolpad Group announced that Liu Jiangfeng resigned as CEO post, will be replaced by the chairman of the Board Jiang Chao.
In fact, Liu Jiangfeng in the cool just served 1 year and 15 days, and just completed one year in his term of August 16, 2017, Liu Jiangfeng at the new conference on Coolpad had lamented, 'In the cool year, I What I have not encountered in my career for more than 20 years.
With the departure of Liu Jiang Feng and the new manager came to power, how cool self-help become the most immediate and most urgent thing now, in this regard, the first to adjust the management of cool.In mid-September, Jiang Chao one-time re-appointed Cool Group Four vice presidents, and an assistant president cadre at a departmental level.
Ten billion land resources to be revitalized
In spite of the crisis, Cool is not without panic. In fact, there are rumors that Coolpad has 10 billion premium assets (land resources) to work with real estate developers such as Beijing-based and Country Garden.
In August this year, when talking about the idea of resolving the crisis, even Liu Jiangfeng once said: "Coolfields are interested in land resources worth nearly 10 billion yuan. Real estate developers of all sizes are very interested. In addition, banks include syndicated issuance Are also working hard.At present, many investors interested in the Coupe, but no results, all the announcement shall prevail.Has been talked about six months ago (land), but the board can not.
It is worth noting that previously 'too far' 'land for sale' program recently loosening.October 17, Cool Group in the Hong Kong Stock Exchange announced that it will jointly develop Galaxy and cruise urban information project urban renewal.An analysis pointed out , The introduction of Galaxia may be just the first step in activating the resources of the land.
Reporters noted that Du Jinbiao had said in an interview with the media that Cool has accumulated over the years a lot of valuable property resources, will pay close attention to the development and activation of this part of the resources may be cooperation and development.
According to Yan Yuejin, director of research center at E-home Research Institute, the land resources of Coolpad are of great value and the subsequent proper guidance of other funds for joint development is crucial and how to plan a project with high cash flow income is crucial. Business transformation, but also saw a larger real estate investment prospects.It is no problem with similar investment itself, and even its industry has a greater link.However, the courageous transition is not comprehensive, is a 'superficial' .
Zhang Hongwei, director of research and consulting with the same policy, believes that Cool itself does not have the real estate development capabilities, to find other developers, the follow-up to promote the possibility.
For the cool couch in the crisis, the revitalization of the land can solve the immediate needs of the developers can settle into the mobile phone plate? In response, the "Daily Economic News" reporter contact Cool to understand the situation, but as of press time, the other party has not yet responded.
It is noteworthy that September 27 Coolpad Group announcement shows that it signed a settlement agreement with Ping An Bank, and pay all the principal and interest in the petition; at the same time, Bank of Ningbo also withdrew the prosecution.
Recently, Du Jinbiao revealed in an interview with the media that during this period of time, Coolpad contacted investors in various ways and sought ways to raise funds. There are many sources of funds, including investors, realtors, banks, suppliers and channels.
It is worth mentioning that the Cool Group announced on October 18, the company and subscribers Nakasu Enterprise Co., Ltd. entered into a subscription agreement in relation to the issuance of convertible bonds with par value of 581.9 million Hong Kong dollars, a discount of 19.3% per share exchange price, Capital is intended to supplement the company's general working capital.
High hopes for the U.S. cellphone market
Prior to this, Cool executives also had at the press conference is expected to have 50 million to 60 million units shipped in 2016. However, the reality is cruel.In 2016, Liu Jiangfeng revealed in an interview with the media, Cool throughout the year shipments Only 15 million units.
Into 2017, Cool domestic mobile phone market share ranking is even out of the top 10. A research report in July this year, 'Cool Union' in 2500 ~ 2999 yuan neglected in the midrange market share, total less than 3 %, Classified as Others (others).
August 16, Cool held in Shenzhen COOL M7 new channel conference, the new model priced at 2,699 yuan undoubtedly shoulder the task of rejuvenating the Cool. However, "Daily News" reporter visited Shenzhen Huaqiang (24.350, -0.37, -1.50%) North around the major mobile phone stores, mobile and China Unicom business hall found that cool mobile phone online market is hard to find traces.
In fact, the domestic mobile phone market has basically been partitioned by vendors such as Apple, Samsung, Huawei, oppo, vivo, etc. As of the end of September this year, Huawei shipped 112 million handsets and ranked the second in the world in terms of market share, Apple. Cool want to come back here, the difficulty can be imagined.
In this case, Cool seems to be paying more and more attention to the U.S. market.
In Du Jinbiao view, 90% of the United States mobile phone market operators market, more in line with the development of cool.On the one hand, the main research and development forces Cool all around the US market to do, in San Diego, USA also deployed a portion of research and development efforts. On the other hand is With the strongest sales force in front of the United States sales.Furthermore, focus on other resources, focus mainly on the US market.In the first half of this year, Coolpad shipments in the United States increased 60%, is the fastest growing market for Cool now , Is also the largest market in the United States ranked the top shipments of Chinese manufacturers, Cool ranked second.In the next two or three years, Cool to be the first Chinese nationwide brand.
Practice has proved that the United States market is getting better and better, the stability of the whole company to help cool extremely large, especially to ease the difficulties of the current Cool. But Cool never give up the domestic market, in this hard so many years, will do it In the future, Coolpad will be more focused on the domestic market, focusing on high-quality mobile phones and focusing on operators, but in addition to the mobile phone business, we will continue to expand other businesses such as IoT-based smartphones that are not mobile phones. In addition, we are closely mapping AI and 5G research and development Team, now worry about the order, and we have to achieve through the cornerstone overtaking technology, to reproduce the glory. "Du Jinbiao further analysis.
In this regard, China Mobile Alliance Secretary Wang Yanhui told reporters that funding is the basis for the cool to live, but the funds can not solve everything, and now Lenovo, ZTE, TCL and other brands in the domestic development are difficult, Cool is the same. With sufficient working capital, the problem of Coolpad also involves channel reconstruction. Now that the mobile phone market is getting more and more concentrated, it is hard for Coolpad to snatch back its share before.