'New fly ads do well, as good as the new fly refrigerator', the ad has been popular in large rivers north and south, the new flying refrigerator has also become the benchmark for China's home appliance manufacturing industry, the market share was as high as 20% .But the past, In the present depression, it appears very pale ...
Caught off guard, the appliance industry a loud noise, generation dominance, once the 'refrigerator king' Xinfei appliances fell Recently, Henan Province, the old appliance manufacturers Xinfei due to poor management submitted to the government restructuring applications, on the verge of collapse.
△ 'New fly advertising done well, as good as the new fly refrigerator', a wave of new ads 'memory kill'
Xinfei seeking legal protection
Recently, insiders have been informed by Henan Xinfei Refrigeration Appliance Co., Ltd., Henan Xinfei Electric Co., Ltd., Henan Xinfei Appliance Co., Ltd. in November 1, 2017 jointly issued a restructuring statement:
As of October 31, 2017, the Company faced market competition and downturn, and sustained losses in the past few years.Under the pressure of the capital chain, the Company has only ceased its production activities at present, and the above three companies had ceased their operations to Henan Xinxiang Intermediate The people's court submits a request for restructuring and, under the supervision of the people's court, reorganizes according to law.
▲ Photo Source: China's home network
The note also states that Sunflex is prepared to gain legal protection by entering the reorganization process, enabling companies to enter a relatively safe operating environment and to focus on the strategic design of the company's regeneration. The company has started a working group that includes Managers and representatives of Yongan Shanghai Consulting Co. At the same time, the court will appoint a supervisor to supervise the reorganization and the working group will convert the related assets into cash but it will take time to process.
The three companies, promised in the note, will deal fairly and fairly with the interests of creditors and shareholders. Reorganization is a better solution than liquidation and will bring the best results to all those involved, including employees and suppliers .
Another board member of Xinfei Electric, which was acquired by the industry, wrote to Xinfei's staff letter: 'In the past few years, Henan Xinfei Electric Appliance Co., Ltd. has been operating in a highly competitive and challenging business environment. Under the pressure of price competition in the electrical appliance industry, the profitability of Xinfei Company has become more and more difficult.
According to the letter, the new company is not going to carry out the liquidation, and under the licensing and OEM arrangements, the management team will continue to review potential strategic partners that intend to use the new trademark. Xinfei has appointed Ernst & Young (Shanghai) as the reorganization business Advisor In addition, an outside manager will be appointed to work closely with the management team and Ernst & Young to oversee the reorganization and the company has appointed Ng Tze-shan as chief reorganization officer.
▲ Photo Source: Xin Fei Electric official website screenshot
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.
▲ Photo Source: Xinfei Mall screenshots
In the new flying appliance online store, free to open the hot commodity, are prompted to 'not for sale' and 'zero inventory'.
According to Dahe Network, the plant has been suspended since November 1, the factory has been in a state of security in addition to security outside, the warehouse and the workshop are affixed to the seal.
'Ning to the new flight, not to the bank'
In the most brilliant when the new fly, known as the refrigerator industry 'four golden flowers' in the boss, followed by Haier, Yung Sheng, Meiling.
In 1996, Xinfei reached brilliant, setting a good result of the top three national refrigerator brands, market share was almost equal to 20% .Grid has not yet carried out the refrigerator business, there is no Siemens, Samsung what happened.
Until 2005, the sales of new flying refrigerator also ranked third in the country, up to 3 million units.
Xinfei was established in 1984 by an arsenal in Henan Province, transformed from the first 10 years, under the leadership of the new generation of new people, it is invincible in the appliance market.
At that time, many families are proud to buy a new flying refrigerator.Even in some rural areas, the woman is one of the criteria to find the object is the man's home there is no new flying refrigerator!
In the memory of the veteran employee Zhou Hua, many of his coworkers who worked with him in his early years are mostly caretakers who can enter the factory as temporary workers because of the good returns from the factory. High will look at you glances, 'a lot more than the suit tie.'
'Ning to the new flight, not to the bank' became the mantra of some young people in Xinxiang City at that time.
Old brother into a 'no-name'
With the integration of the capital market, the fate of the 'Four Golden Flowers' also goes its own way: Yungson reverts to Hisense Kelon, Meiling is integrated by Changhong, and Xinfei is declining gradually through Yiyi Lord. The emerging beauty gradually out of the top four .
According to the latest statistics, in the first nine months of 2017, the retail sales and retail sales of Xinfei Refrigerator accounted for 2.83% and 1.70% respectively. The average price of the products was RMB2202, which has been squeezed out of the top ten in the industry.
According to the relevant personnel of an electricity store, although the store online and offline sales of new flying refrigerator, but very few people to buy, sales performance is poor.And the store staff said, 'Xinfei this brand, we do not have the store, There are few stores that will have this brand?
It can be said that the new flying refrigerator that can be put on display in the home at that time has now become a 'no-name' that nobody cares about.
Ten years do not rise wages, employees collectively strike
With the new flying river of rivers and lakes, front-line workers also suffer: less and less welfare subsidies, ten years did not rise in wages!
The first crisis:
In 2012, in the autumn of 11 years after founder Liu Bingyin died, thousands of employees trying to change the status quo in life were gathered in the headquarters of the new headquarters in a blue tooling to shout 'raise wages, survive,' and blockade The factory gate.
At that time, some employees listed a set of figures: the temperature of the new fly to install the workshop shop off-season salary of about 890 yuan, 1200 yuan in the peak season is far below the average income of 2160 yuan workers in Xinxiang City.
With the rapid intervention of the government, Xinfei Electric made high-level compromises.
The second crisis:
In 2013, it unexpectedly announced that some of its production lines have been suspended since May 28, some employees of the company have also been dismissed, and with the help of the government, the crisis has been eased.
The third crisis:
In November 2017, the above reorganization instructions foreshadowed the fact that the new shutdown of the XINFEI has come and this time someone will be able to save it?
Xinfei's 'fatal wound', the truth worth pondering
Frozen three feet non-day cold. Xinfei appliances reduced to this point today, the lessons behind is worth pondering.
1, the blind introduction of foreign investment, strategic transformation failed
In 2002, with the introduction of foreign investment, Xinfei introduced a joint venture between Singapore-based Hong Leong Group and equity transfer in the latter part of the year. The ownership of Singapore-based Long Hong Kong Electric Power Co., Ltd. accounted for 90% of the total. China's strategy The complete loss of management rights.
The result, the face of fierce competition from Haier, Siemens, Gree, the United States manufacturers, products, brands, services, marketing across the board defeat.
2, 'a woman more than married', brand-name changeless brand
In March this year, held in the country's small home appliances trade fairs, the three companies also represent the new company to come to the exhibition, claiming that they each have the right to use the new fly trademark.But behind the new company is 'new' Brand to make 'a woman more than married' business decision.
It is reported that when 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 household appliances categories of new fly brand rights are foreign leasing, for the use of royalties to earn .
3, sloppy into small appliances
Xinfei has always been to refrigerator, freezer and other large appliances known, but was acquired by foreign investors, it began to 'make death' rhythm: groping into the path of small household appliances industry.Confucius, Xinfei small appliances have been negative after the listing, Such as Shanxi Television and Quality Supervision Bureau had exposed a new fly rice cooker kept serious quality problems.
Without the small appliances technology, technology and talent under the premise of blindly follow into the small household appliances industry, since the negative news, frequent quality and safety accidents, overdraft brand integrity.
Insiders analysis, the new fly every trend of the appliance industry, are taken to follow the strategy.
The law of the jungle is cruel.
If you do not enterprising, stubborn,
One day will be by leaps and bounds,
Innovative world out of the world.