Recently, as the refrigerator industry in China, "one of the four Golden Flower," Xin Fei Electric forced the capital chain pressure encountered the third time in the history of the crisis because of the turmoil in the turmoil of brands rent vortex, acclimatized foreign investment shares The reason, the new flying electrical appliances in recent years has been squeezed out of mainstream brands, and now the brand is losing its commercial value, the future has not been able to survive the unknown.
Three discontinued
According to the insider revealed a restructuring by Henan Xinfei Electric Co., Ltd., Henan Xinfei Refrigeration Appliance Co., Ltd., Henan Xinfei Appliance Co., Ltd. jointly released the reorganization instructions, the note wrote: 'As the three companies market competition fell , Losing money for several years. Despite the support of foreign shareholders, it still can not restore the market challenges it faces. Under the strain of the capital chain, the company only stops production at present.
At present, the three companies submitted the application for restructure to Henan Xinxiang Intermediate People's Court on October 30, 2017 and under the supervision of the people's court, they were reorganized in accordance with the law. The note also said: "Xinfei is ready to enter the market through reorganization Way to obtain legal protection so that the company can enter a relatively safe operating environment and can focus on the strategic design of the company to regenerate.Xinfei has started a working group that includes managers and representatives of Yong An Shanghai Consulting Co. The same time, Supervisors supervise the reorganization, the working group will convert the related assets into cash, but it will take time to process.
Relevant experts said the choice of the new flight fully discontinued the current initiative, as well as to submit a request to the court to restructure the company, instead looking for new buyers to fly refrigerator rather than direct bankruptcy liquidation, apparently the major shareholders are reluctant to This once in the Chinese home appliance industry has a good memory of the old brand this exit home appliances market arena, the brand resources that may be realized into a burden.
As a traditional home appliance business, Xinfei Electric Appliance has repeatedly been caught in negative rumors of cut-off and layoffs.In 2012, a new fly-out refrigerator started to stop production, requiring more salaries and more than 1,000 workers to stop production. In May 2013, Fly and accidentally announced that from the 28th of the month, Henan Xinfei Electric part of the production line began to be discontinued, some employees were also dismissed.
In this regard, the Beijing Commercial Daily reporter called the relevant person in charge of new flying appliances, the official said the new fly refit is true, but for the future restructuring and other issues such as the sale of the brand, said it is not clear. New fly official online store found that a variety of products show that the inventory is zero and not for sale.
Trademark dispute
As for the new fly into such a situation, an industry insiders XinFaDai board to XinFeng all staff wrote in the letter: 'in the past few years, Henan XinFa Electric Co., Ltd. has been in a highly competitive and full of challenges Business environment in the appliance industry in the fierce price competition in the appliance industry, the profitability of the new flight company becomes more and more difficult.
In the 90s of last century, the new flying refrigerator had a brilliant moment, its product market sales and brand reputation second only to Haier, the market share long-term occupation of the top 3. However, up to now, the new flying refrigerator has been completely reduced to a marginalized brand.
The industry believes that the decline of the new fly and the company chaos brand authorization are closely linked. In recent years, Xinfei has been caught in the whirlpool of trademark leasing operations, but also for the future of Newfound brand uncertainty, the 'new flight' this operation, maintenance for many years The well-known brands authorized to other businesses to use, which can easily lead to brand insecurity.
In March this year, held in the country's small home appliances trade fairs, the list of exhibitors, three at the same time on behalf of the new company to exhibitors, also claimed that they each have the right to use the new fly trademark, which is behind the new fly company It is reported that ownership of Xinfei brand owned by Xinxiang City, Henan Province, the new flying refrigerator business does not have the brand ownership, in addition to refrigerators, other appliances Category of new fly brand rights are foreign leasing, used to earn brand royalties.Beijing Business Daily reporter also received a known as 'free to send' new fly water purifier sales calls, people really difficult to distinguish between true and false.
'On the surface, licensing the brand to multiple companies will benefit in the short term, but without a rigorous and effective monitoring mechanism, it will adversely affect the healthy growth of the brand in the long run. Is the integrity of the brand name of 'Xinfei' and will inevitably affect other categories under the brand name of 'Xinfei'. In the end, 'Xinfei' will be reduced from a name brand to a name brand. '
In addition, household electrical analyst Liang Zhenpeng said that after the introduction of foreign investment into the new flight acclimatized is also one of the main factors dragging down the new fly back in 1994, Singapore's Hong Leong Group and the new group to form a new fly. However, Hong Leong The major industries of the Group are not very helpful to the business development of Xinfei Electric in the fields of finance, real estate, hotels, etc., mainly due to the financial investment, while due to the lack of understanding and more conservative Hong Leong Group's home appliance market in China, Missed the opportunities for diversified development. "Moreover, the Hong Leong Group did not retain the original senior management team and technical backbone of SFI, resulting in the loss of these talents, thereby making the new management increasingly imperfect.
Where to go
Today, Hong Kong's Feng Leong suddenly chose to "shock therapy" of the new flying electrical appliances, not hesitate to take the initiative to stop production or even submitted to the court to apply for reorganization of the plan to seek protection of the existing assets of the new flying electrical appliances, to avoid continued losses. However, But the public exposure of the commercial value of the new flight is shrinking, which will naturally take the disk side to take an open price, bargain-hunting, etc., so that the 33-year-old refrigerator brand face once again swept.
It is undeniable that, after another acquisition in 2005, the Hong Leong Group controls 90% of the shares of the new flying, whether it is the resale of sales or self-employed, Hong Leong also hope that the development of new flying electrical appliances.This point, from the past Hong Leong Group several times during the replacement of executives, the replacement of trademark logo can be seen from the new fly over the past few years of development, it is clear that the Hong Leong Group has been powerless, there is no good way to save the new flight. Analysis said that this means that if there is no strong new shareholders settled, the new flight is difficult to come back to life.
In fact, almost every year in recent years, the news of the sale of new flying appliances.But industrial observer Hong Shibin that the overall value of the new flying electrical appliances in the sales channels, brand, the advantage of the new flight is not obvious, and these talented people Year has run out, but in this case, the acquisition of new flying electrical appliances, more likely to be used as a manufacturing base or logistics center.
For the future of the new fly way, Liang Zhenpeng pointed out that for now, the new fly in the refrigerator market has no value at all, the best way is to bankruptcy, bankruptcy reorganization, the factory assets there is a certain value, if there is a suitable business To buy, there may still be new fly, but the brand is concerned, the new fly in the refrigerator market has been too marginalized, too weak, the brand value has been lost.
In the Yikang market monitoring data show that in September this year, the retail sales of the new fly, retail volume accounted for 1.83%, 1.04%, the first nine months of retail sales, respectively, retail sales were 2.83%, 1.7%, both products The price is only 2202 yuan, the market share of retail sales have long been squeezed out of the top 10. The market share has basically declared that the new flight has long been out of the mainstream market competition, only in the regional and 34 markets make a living.