The well-respected generation of old refrigerator companies - the home of Xinfei, finally landed in the dust today.
On June 29, 100% equity of Henan Xinfei Electric Appliances/Home Appliances/Refrigeration Appliance Co., Ltd. was successfully auctioned, and the transaction price was 455 million yuan, which was more than 5 million yuan compared with the reserve price of 450 million yuan. It is reported that the purchase of 100% equity of Xinfei Electric Appliance Co., Ltd. Home, it is Konka.
As early as May 18th, Xinfei reorganized the second creditors’ meeting and voted on the reorganization plan. On May 21, the Xinxiang Intermediate People’s Court ruled to approve the reorganization plan. Xinfei Electric, Xinfei Household Appliances, Xinfei The entire equity of the three refrigeration companies was auctioned on June 28, 2018 at 10:00 to 10:00 (except for delay) at the Intermediate People's Court of Xinxiang City, Henan Province (Taobao.com Judicial Auction Network Platform).
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Today, the auction was successfully concluded. After the second bid, Anhui Konka Electric Technology Co., Ltd. won the highest price and became a new investor in the company. It was traded at a price of RMB 455 million.
At the same time that Xinfei avoids bankruptcy and liquidation, the party's Kangjia and its white-light business have also focused on the industry's attention. How Konka will integrate the resources of both parties and lay out the white electricity market, becoming the most concerned topic in the home appliance industry.
Not long ago, Konka Group released its first-quarter performance with strong growth, and opened a new strategic transformation and upgrade of '1234'. Under the support of a strong group background, Konka White has been in the increasingly severe situation in the white electricity market for nearly two years. The contrarian growth has been achieved. Konka Group's 2017 annual report shows that Konka's white electricity business achieved revenue of 1.737 billion yuan, up 2.10% year-on-year.
In research and development, Konka's white electric production base is located in Zhangzhou, Anhui Province, producing white goods such as refrigerators, washing machines, air conditioners, etc. Since 2016, Konka White's investment in R&D and intelligent manufacturing has increased significantly, and the 'Double Five Thousand' plan has been launched. That is to say, 50 million yuan will be invested annually in product R&D investment, and 50 million in smart manufacturing transformation and new construction.
On the core products, in response to the 'Live Green', health upgrades and new consumer trends, Konka White has officially launched the 'Health Strategy Plan' in 2017, with the concept of 'H+ Healthy Living' as the core of publicity. According to the demand pain points under the scene, the introduction of cosmetics refrigerators, food worry-free refrigerators, kmini washing machines, mini8 desktop underwear washing machines and other new products, the industry influence is increasing.
With the strong development momentum of Konka's white electricity business and the continuous expansion of the market territory, this successful bidding for new flights will undoubtedly further enhance the comprehensive strength of Konka White Power in terms of brand and technology, and enhance Konka's right to speak in the white electricity industry.
As the second-largest brand in the domestic refrigerators and the four brands of refrigerators, Xinfei Electrical Appliances once reached its historical peak in 2010, with annual sales of 5.5 million refrigerators, 800,000 freezers, and annual sales of over 5 billion yuan.
Zhou Bin, president of Konka Group, said that although Xinfei Electric has been in a difficult position due to various reasons in recent years, the new-flying refrigerators have been in large-scale, air-cooled, high-frequency products such as frequency conversion, and their product lines are all at the domestic advanced level. Xinfei Refrigerator's R&D and manufacturing capabilities are also very competitive. Moreover, Xinfei’s product line is complete, and the brand awareness of the industry is high. In 2017, the market share of the industry ranked No. 6, brand value, R&D capacity, capacity equipment, and talent team are all correct. Konka white electricity in the high-speed development period has greater appeal.
It is reported that this time, Konka successfully bid for Xinfei, which will rapidly expand Konka's industrial scale in the field of white power, and realize the brand-name collaboration structure of 'Konka + Xinfei', which will increase its white-light business and increase profitability. Capability. Konka White has entered a good place in the field of white electricity, its future development is worth the industry's expectations.
