Recently, Alibaba's auction platform showed that the 100% equity interest in the three companies of the New Feifei Company—Xinfei Electric Appliances, Xinfei Electric Appliances and Xinfei Refrigeration Appliances will be terminated at 10:00 on June 28, 2018, at 10:00. Except for the time when a public auction was conducted on the Taobao Judicial Auction Network Platform of the Xinxiang Municipal Intermediate People's Court in Henan Province, with an initial auction price of 450 million yuan.
At the same time, part of the land, real estate and construction of Xinfei Electric will also start auction on July 5 with an auction starting price of RMB 115 million.
The pride of the light of domestic goods fell into the situation of low-priced sales. It was a pity that the small partners around Xiaocai woman felt particularly pity. Xiao Z told the young lady that her own refrigerator was a new one. At least For ten years, it is still in use. At the beginning, many neighbors and relatives and friends had nearly every household had a new refrigerator. The quality did not have to be said.
Once was the head of the 'Four Golden Flowers' in the refrigerator industry.
In 1984, a small arsenal in Xinxiang, Henan, joined the household appliance industry. The name “Xinfei” began to be a memory for a generation. No one thought that Xinfei started under the leadership of director Liu Bingyin, who had not finished his studies in primary school for four years. Soaring.
Liu Bingyin forward-lookingly introduced a modern refrigerator production line from Philips in the Netherlands to create a domestic boutique—Xinfei Refrigerator. In order to build brand awareness, Liu Bingyin also engaged in a non-original event marketing, arranging 400 new flying refrigerators on the spot. 3. It was announced that the production of substandard products was a disgrace to the new trapeze. Then the sledgehammer was picked up and all 400 poor refrigerators were smashed.
Facts have proved that the "marketing approach" of his own products was rough but very effective. Zhang Ruimin had issued Haier's National Quality Gold Medal, and Liu Bingyin had released the giant's status as a new flying refrigerator. The phrase 'New Flying Advertisement' is doing well, not as good as new. "Flying the refrigerator is good" is a classic slogan that a generation of Chinese people blurted out.
Since 1996, Xinfei has been producing and selling refrigerators for more than one million units for eight consecutive years. All major economic indicators rank in the forefront of China's refrigerator industry, ranking first among the 'Four Golden Flowers' in the refrigerator sector. Haier, Rong Sheng, Meiling is far behind him. During its heyday, Xinfei sales reached 3 million units at a time, and its market share was as high as 20%.
Introducing Foreign Capital to Opposition to the Opportunity and Missing Optimum Development Opportunities
Why did Xinfei fall to where it is today? In fact, at the height of its prosperity, hidden dangers have already been buried. In 1994, China launched a wave of investment promotion. Xinfei was selected as a foreign-invested enterprise by the local government, even though Liu Bingyin is more We hope to rely on the strength of Xinfei’s own team to do a great job, but we still haven’t been able to reverse the tide of aggressive menacing.
Xinfei Electric, Singapore's Hong Leong Electric Appliances, and Singapore Yuxin Electric's three parties respectively hold 49%, 45% and 6%, as Yuxin Electric is controlled by Fenglong Electric, which is equivalent to 51% of Xinfei Electric's controlling stake in Hong Leong. Electrical control.
Although Liu Bingyin grasped the operating rights of Xinfei, he lost the power to make independent decisions on major decisions. In 1997, Liu Bingyin looked into the air-conditioning market and tried to enter the air-conditioning sector. At that time, Whirlpool was preparing to sell consecutive lossy blue-wave air-conditioners. Liu Bingyin looked Opportunity, timely shooting, did not expect, was blindly involved by the Singapore Board of Directors, the risk of excessive opposition strongly.
The second time, in early 2000, Liu Bingyin once again tried to acquire Guangdong Sanrong Air Conditioning Co., Ltd. The handover time has already been negotiated, but it was again rejected by the board of directors. It is aggravated that on September 15, 2001, Liu Bingyin suddenly died of stomach cancer in Guangzhou, and the new Flight on the Singapore Board of Speech is almost certain to be a state of speech.
In September 2005, the Xinxiang local government once again sold 39% of Xinfei’s shares to Hong Lelong, resulting in Fenglong’s shareholding in Xinfei Electrical Appliances soaring to 90%. At this point, Xinfei, which is absolutely controlled by foreign capital, has lost its takeoff. Power and timing, seeing it move downhill.
Who is responsible for breaking the new flight? Some people say that Hong Leong’s entry into the new flight caused the loss of the right to self-governance, which directly caused the fall of Xinfei. Others believe that Xinfei’s development in Xinxiang, Henan , Lack of industrial clusters, it is difficult to form an industrial cluster effect, so it is difficult to maintain its own brand status.
Ten years did not increase the salary of the new trapeze lose 'a sense of belonging'
The entry of external capital not only changed the direction of the new flight, but also took away the trust and pride of the 'New Pioneer'.
In 1994, the monthly salary of the new flying factory was as high as 1,700 yuan. At the time, the average salary of the entire Xinxiang area was only 400 yuan.
In addition, during the holiday season, Xinfei will also send meters to employees, noodles and oil. The director, Liu Bingyin, even on the opening day, leads the executives to stand in the doorway to welcome employees to start work.
The material and spiritual affluence created a strong sense of belonging for the “new home” for the new trapeze. According to news reports, a typical example is: In 2003, a fire broke out in Xinfei, waiting for the fire truck to catch up. The employees rushed in to extinguish the fire. Although the factory was smoked dark, only ten days later, it was refreshed by the employees.
Nine years later, the object was a person of non-compliance. The employees of Xinfei made a major strike and protested against the “non-increasing wages in ten years.” Some people even moved the portrait of Liu Bingyin, who had passed away for 11 years, to the gate of the factory. The human resources manager took office and appeased even. The egg was chopped down.
Due to business strategy mistakes, high-level loss, and lack of confidence, the deteriorating business conditions have caused Xinfei to suspend production and reorganization several times. In February of this year, Xinfei had a turn for the better. Hong Leong Asia plans to inject 1 billion to 2 billion yuan into Xinfei Electric. There are two production lines, product development and marketing promotion. Two months later, Hong Leong Asia announced the bankruptcy of Xinfei with a paper divestment statement.
According to the abstract of the new Feisan Company reorganization plan formulated by Beijing King & Wood Law Firm, Xinfei will withdraw all employees after bankruptcy. It is estimated that the compensation amount will reach 158 million yuan, and the total amount of claims submitted will exceed 2.5 billion yuan. The total assets of the book are less than 1.1 billion, and it is difficult to repay all the debt even if it counts the auction price of Xinfei Electric/Land.
The news of the bankruptcy auction awakened people's nostalgia for the new flying refrigerator. This afternoon, Xinfei Electric also responded to the concerns of the outside world on Weibo, stating that Xinfei Company is recruiting restructured investors through public auction of shares. After completion, the new flight will fly again.
The once glorious domestic brands, nowadays have to auction their shares on Taobao, it is embarrassing. However, legal persons told Xiaocai woman that it was actually normal. As for who will take over Xinfei, the lawyer said that it is hard to say at the moment. The company that is interested in Xinfei brand is all possible.