Although Xinfei kept up with the first wave of China's reform and opening up, but in the subsequent development, due to corporate decisions, business discourse and other reasons, missed the opportunity of transformation and upgrading, and ultimately lost the dance with the times. Qualification, gradually stepping downhill. Enterprises should draw warnings and lessons from them, and then take a good road of their own transformation.
According to reports, the entire shareholdings of Henan Xinfei Electric Appliances, home appliances, and refrigeration appliances will be publicly auctioned in recent days with an auction starting price of 450 million yuan. In addition, some of Xinfei’s land, real estate and construction will start auctioning in July. The starting price was RMB 115 million. The new fly, once known as one of the four golden flowers of China's refrigerator, officially went bankrupt after experiencing a failed joint venture.
In fact, the news that Xinfei will go bankrupt, liquidate, and auction has been circulating in the industry for some time, and people have been somewhat psychologically prepared. But when this news is confirmed, it is still inevitably embarrassing. Although not forever A company that does not fail, but Xinfei has been a leading company in the industry. It has become a Sino-foreign joint venture, and is now being liquidated by auctions. It still brings many lessons and warnings to people.
The development of the enterprise must grasp the pulse of the times. The rejuvenation of the new flying refrigerator began in the reconstruction of a small factory in Xinxiang in the early 1980s. Of course, the hard work and wisdom of the founder was, but even more important is that the new refrigerator is The direction of manufacturing is in line with China’s push for reform and opening up, and the needs of the people’s lives have improved. The entrepreneur’s efforts coupled with the needs of the times have only brought about the rapid rise of the new flying refrigerator. The reverse proves that the new flight is able to keep up with our country. The first wave of reform and opening up, but in the subsequent development, due to reasons such as corporate decision-making, business discourse, etc., missed the opportunity of transformation and upgrading, and ultimately lost the qualifications for dancing with the times and gradually stepped down the road.
Enterprises must have sufficient autonomy for development. Xinfei has grown from a small factory to a top-ranking company in China. However, it has repeatedly lost opportunities in subsequent developments, not only because of laggards, but also to a large extent due to restructuring in joint ventures. After the loss of an effective voice in the board of directors, the final decision-making power, and some development opportunities are missed. This warns us that the fundamental purpose of advancing enterprise reform is to develop. It must not be simply reform to reform, and in particular it must not lose autonomy. At the same time, in addition to handling the relationship with the joint venture party, we must also handle the relationship between the government and the market, and play a decisive role in the allocation of resources in the market and better play the role of the government.
We must say that foreign investment in new flying operations, or even becoming an absolute majority shareholder of the holding company, naturally also hopes that Xinfei will continue to be brilliant. After all, no one is willing to pay for things that have no future. The reason why Xinfei is the last The main reason is that the decision-makers of the relevant joint ventures do not fully understand the domestic market conditions, and the development path and measures for the development of the enterprises are not enough to seek truth from facts. For example, the new flying blinds after the joint venture entered the small household appliances, the quality was difficult to guarantee, and the results were self-revealed. This also warns us that only by seeking truth from facts and grasping the quasi-market needs and direction of development can the company be in an invincible position.
In the past, China's "King of the refrigerator" fell. It was a pity that the new king of refrigerators fell. It was a pity that the relevant companies should fully absorb warnings and lessons from them, and then take a good path toward their transformation.