A sudden debt crisis has brought Jin Li into a cruel test of life and death. The new restructuring plan has not yet been finalized, and it is a series of bad news.
On April 7th, Jin Li, vice president of Jinli, stated on a personal social platform that 'Jinli's crisis in the capital chain is sudden, banks will have money again, and the run will go bankrupt. Jinli is actively producing self-help.' The debt crisis, he said, both internally and externally, Jin's position is the same, will return the money of the supplier and the money of the media. Just a few days ago, Jin Li issued an official statement saying that 'Geng Li’s use has taken place since the crisis began. In order to ensure the normal operation of the production line, the Jinli Industrial Park not only retains about 50% of the staff to continue production, but also ODM manufacturers to assist in the production of Jinli Mobile Phones. Order availability.
However, the current self-rescue action did not allow Jin Li's agents to stop losing money. An anonymous Jin Li agent Liu Qing (a pseudonym) told the First Financial reporter that the goods could not be shipped, the debt crisis also caused brand reputation With bad influence, it is normal for a medium-sized agent to lose millions of dollars in a month. 'I have been doing Jin Li for more than 10 years. If there is continuous supply of materials in the upstream, Jin Li will not have such a big event. We It's also a matter of bad luck with it. It's just a matter of seeing whether funds can be accessed as soon as possible. Everyone is actually willing to continue to follow Jin Li. ' Liu Qing said.
Agents lose millions a month
Although at the end of last year, a photo of the partner's “strong support” was sung in the circle of friends, for Jin Li’s chairman Liu Lirong, the pressure on him since 2018 has become greater and greater.
During the contact between the reporter and the supplier, it was discovered that many small and medium-sized supply chain manufacturers had begun to go to Jinli’s headquarters in early January 2018 to “debt for debt”, and some manufacturers said that the deadline for debts has reached more than half a year.
And this pressure is gradually transmitted to the factory.
On the evening of April 2, Jinli official Weibo officially issued a “Some Information on the Current Situation of Jinli Industrial Park”, and said publicly that some employees of Jinli Industrial Park will cancel the labor contract through consultation and will also take 'N+1'. The method of compensation, payment in installments, payment completed within 8 months.
According to the reporter’s understanding, Jinli has a Jinli Industrial Park covering an area of more than 300 acres and a building area of over 300,000 square meters in Dongguan. The annual mobile phone production capacity is 100 million units. It is a relatively large mobile phone manufacturing and manufacturing base in China. It owns 54 fully automatic machines. Patch processing line, 110 finished product assembly test lines, finished product assembly, motherboard production, motherboard testing, printing, related ancillary equipment, etc.
'Since the crisis, we have adopted a capital-guaranteed production plan in the earlier period. We will now adopt a cost-reduction method. To ensure the normal operation of the production line, Jinli Industrial Park not only retains about 50% of its employees for continuous production, but also assists with ODM manufacturers. Production of Jin-li mobile phones, supply of Jin Li's orders at home and abroad. 'Ginli official said.
After the layoffs, the upstream pressure bar was handed to the downstream channel distributors. Liu Qing told reporters that most agents have followed Jin Li for more than 10 years. They have never encountered such a thing. Most people are losing money. It is normal to lose a few million dollars a month. Taking a provincial agency as an example, there are more than 1,000 people in provincial agencies with a medium to large scale. The average salary of a person is more than 4,000 yuan, which requires millions. There are other costs. The pressure on larger agents is even greater.
However, Liu Qing stated that the relationship between agents and Jin Li is very stable. Many agents themselves are friends with Jin Li’s for many years or are subordinates of Liu’s group during the period of Jin Zheng Group. Feelings are deep. 'This happened. It is very painful, but there is no way. We can't solve the big problem, can we see if the factory can survive, and whether the funds can be received in as quickly as possible. At one of the meetings, Liu (Li Rong) shed tears and tried to remedy the situation. . '
The new restructuring plan still has no timetable
After the Spring Festival this year, it was reported that Jin Li had obtained 100 million yuan in financing. However, Liu Lirong said that for financing details, it is not announced when it is announced.
At the beginning of March, internal employees told the media that Jin Lixin’s new financing was over. Then a board of directors was set up to determine the future direction of Jinli.
'The new financing is estimated to be coming out in two weeks.' In mid-March, the Gold Cube faced CBN Express. However, the latest reply is no exact news. In fact, as of now, including Hisense, TCL, sound transmission Even the manufacturers of 360 companies were spread to negotiate cooperation with Jin Li.
Hisense became the most likely target for the acquisition. Since February, Hisense is discussing channel cooperation with Jin Li. He intends to include Jinli's provincial agents, that is, provincial branches, and has further statistics on The number of channels. According to statistics, there are 70,000 public channels in the country, which is also considered to be one of the most valuable parts of Jinli.
But then both Hisense and Jin Li denied the news.
"We don't buy them. Strictly speaking, they only cooperate. They just commission them to sell in their own channels. They have too many foreign debts, and they don't dare to accept them. 'An internal staff member of Hisense told the First Financial reporter.
Judging from the current channel situation, some of the channels have already accessed Hisense through unofficial cooperation. An agent of Yunnan Jinli stated that it will drop from 2 million units to 1.5 million units in one year (2017). (year), the pressure of the channel is very large, I do not know that the storm comes so fast, so violent.
The impact of the debt crisis is still spreading in all aspects of the Jinli industry chain. Both the agents and the supply chain companies hope that the new financing information can be announced as soon as possible, before then only 'strong support'.
It is worth noting that Liu Lirong once said in January this year that it will solve the financial difficulties through strategic capital injection, but it is also ready to sell its assets. At present, Jinli’s Weizhong Bank shares and Jinli Building are worth a total of RMB 7 billion.