Konka Group, which celebrated its 38th birthday, also ushered in another major change of its own, and determined the four business clusters of 'Technology Park Business Group, Industrial Product Business Group, Platform Service Business Group, Investment Financial Business Group'. Rongguang's color TV was divested as an independent wholly-owned subsidiary. However, in addition to the platform service for investment finance, it is still a blank period. As a main product line, color TV is trying to 'pass on others', and its past industrial land is converted to commercial land. The development model does not have reproducibility. The four business clusters show a situation of 'four unlike'.
At the end of June, Konka’s 455 million acquisition of Xinfei’s news made this traditional color TV giant appear again in the outside world. Just before the acquisition of Xinfei, Konka Group’s major shareholder, OCT Group, purchased 289 million yuan for Kunshan Kangsheng Investment. Development Co., Ltd. 51% equity, Kangsheng is a subsidiary of Konka engaged in real estate business. This behavior also seems to announce that the dispute between Konka and OCT Group has laid a 'resting'.
However, from 2013 to 2016, Konka's development of the 'golden period' due to the internal friction of major shareholders and small and medium shareholders has never been recovered. Nowadays, Konka, which has changed greatly, not only will the original main business color TV business be independent. Going out, four business groups have also been set up to support the original real estate and financial business, while also developing environmental protection and semiconductor business.
When Konka was involved in real estate, some people inside the company thought that this was a 'double-edged sword'. When Konka obtained rich cash flow returns through investment real estate, it would also occupy a large amount of cash flow of the group, restricting the group's products. Investment in R&D and promotion seems to be a slogan.
'Go to color TV'
On July 9, Shenkang announced that the color TV business, which is the backbone of the company, will be transferred to the subsidiary Konka Electronic Technology Co., Ltd. and will seek strategic investors for it. Some people regard it as the major shareholder of OCT to promote Konka mixed reform. A milestone, but some people believe that Konka management seems to want to use the color TV business share structure changes, to achieve business divestiture and even out.
Konka was once the leader in the color TV industry. From 1997 to 2000, Konka’s net profit reached 348 million yuan, 429 million yuan, 497 million yuan, and 224 million yuan. It is the peak period of Konka and Changhong. TCL is also known as the three giants of the CRT era. In 1999, Konka's color TV production surpassed 'Changhong' and became the industry leader at that time.
At the same time, according to the statistics of Zhongyikang Times Market Research Company, as of November 2007, Konka's total retail sales volume of color TVs in 2007 was 14.09%, ranking first in China's color TV market, and its monthly retail sales share reached 15.89 in November. %. This is the first time since 2003 that Konka Color TV has won the top spot in color TV sales for five consecutive years.
However, even the industry giants are not able to step on every point accurately. Konka has not been able to keep up with changes in market demand in the era of flat-panel TV upgrades to large screens. As a result, after 2008, Konka’s performance has turned sharply. In the three years from 2009 to 2011, Konka's net profit fell sharply for three consecutive years; net profit for the same period was 151 million yuan, 82 million yuan and 25 million yuan, respectively, a sharp drop of 43.56%, 45.7% and 70.25%.
Since the beginning of 2011, the net profit of Konka has been negative, including the first quarter of 2018. This data reveals the fact that Konka's main business can not bring profits to the company. At this time, Konka has fallen out. The first echelon of color TV.
'New Strategy' of the four platforms
In 2018, Konka, who has been saying that he wants to transform, has finally begun a big move. At the 38th anniversary celebration, Konka officially proposed 'a core position, two main development lines, three development strategies, four business groups' strategic transformation. .
The so-called four business groups are: technology park business group, industrial product business group, platform service business group, investment financial business group.
However, at present, only the technology park business group has clear ideas. Konka has signed cooperation agreements with Zhangzhou, Suining, Nanjing, Yibin and Haimen governments to further develop the technology industrial park business. The total investment of the five regional projects will reach 43 billion. yuan.
And several other business groups are in the planning, especially to set up the environmental technology business unit, the industrial products business group of the semiconductor technology business unit. After all, semiconductor is a 'burning money' industry, how Konka wants to be profitable at present In a good environment, operating semiconductor business has also become a concern of the outside world.
At the same time of proposing four major business groups, Konka is boldly proposing plans to achieve revenues of 60 billion yuan by 2020 and to cultivate three new industries with revenues of over 10 billion. In Zhou Bin’s plan, the environmental protection industry Will achieve 8-12 billion yuan in revenue within 1-2 years. So what are the other two new industries, Zhou Bin did not give an answer.
However, in the current planning of the four major business groups, we can peep. After the stripping of the color TV business, only the technology park business group is the only one with clear planning, and all this depends on Konka's involvement in 2000. Real estate business.
Life-saving property 'straw'
Konka is already very familiar with the business of bidding for auction. As early as 2010, Konka announced that it had taken 342 million yuan for a total of 367,000 square meters of land in Kunshan. The land was originally external. The caliber is to be the largest LCD film base in the country, but later changed to say that it will be used for tourism and commercial, residential. In July of the same year, after just taking the plot, Konka Group became a wholly-owned subsidiary Kunshan Kang Sheng Investment Development Co., Ltd. specializes in real estate investment, development and operation, hotel and property management.
Thanks to the reputation and achievements of Konka in the manufacturing industry in the early years, it will be welcomed and supported by the local government in the bidding for the whole country. This was the speech of the board secretary Xiao Qing in the interview after Konka took the land in Kunshan. It was confirmed. 'Because the company has an investment in Kunshan, and the local government has given some support...' .
In fact, Konka seems to have a lower price than the market in terms of land acquisition. When I was looking for a new headquarters for myself in 2013, I won the land in the East Zone of Guangming High-tech Park for 41.7 million. However, through the land of Shenzhen In view of the land transfer situation of the bureau in the past, this price is far below the market price.
In 2010, Konka's old headquarters plot was included in the renovation project on June 29, 2013. Konka announced that it had received the approval of the Shenzhen Planning and Land Resources Committee to approve the upgrade project of the Konka Group headquarters. In the beginning of August of the same year, the Shenzhen Land Commission issued a notice of payment to Konka, which required a land premium of 1.49 billion yuan. Konka had already paid 488 million yuan for the first phase of the land. However, the difference between the industrial conversion of the land and the commercial property. , not through public channels.
The author inquired about the auction of land plots in the same area of Nanshan District in 2013. The land price of the supplementary project was 1.49 billion yuan, far lower than the market price.
The reporters of Zhongfang.com have contacted the staff of Konka Real Estate Division. According to them, the real estate business of Konka Group is small, but it is the original industrial plant in many plots. With the expansion of the city Blocks gradually become the core adjustment of the city's core areas, relying on the management of these assets, Konka can guarantee food and clothing.
Over the years, the performance of Konka Group has already indicated the importance of the real estate industry. In 2017, Konka Group sold 70% of the original headquarters through 6.98 billion yuan. At that time, Konka's net profit reached 5 billion.
'孽缘' with OCT
Interestingly, this piece of land that was sold out and earned 5 billion profits for Konka also aggravated the important reason why Konka fell from the status of color TV giants. This is also the relationship between Konka Group and the major shareholder OCT Group. The root of '.
The predecessor of Konka Group, Guangdong Guangming Overseas Chinese Electronic Industry Co., Ltd. was established to resettle overseas Chinese, and the company was established in OCT. In 1992, Konka A and B shares were listed on the Shenzhen Stock Exchange, with a total share capital of 1.204 billion shares. OCT Group is the largest shareholder.
According to the 2018 quarterly report of Konka Group, OCT Group still holds the position of the first shareholder with 21.75% of the shares.
Konka Group can engage in real estate business. It can be said that the major shareholder OCT Group has not helped. In 2001 and 2002, Konka and OCT Group invested in some projects of OCT's 'Jinxiu Garden Phase III' and OCT Swan Fort. This is Konka's small test in the real estate business.
However, in the following years, due to the inability to form horizontal competition with major shareholders, Konka has not been able to show its talents in the real estate business. This also triggered the dissatisfaction of the small shareholders of Konka to the major shareholders, and this dissatisfaction, in 2013 Konka After the headquarters plot was included in the renovation project, it broke out completely.
Konka Group believes that it can enjoy the development rights of this land. However, OCT Group Company and the relevant departments of the Shenzhen Municipal Government signed the land use agreement and paid the land price. This dispute led to the closure of the renovation project, 2014 In April, Konka submitted the dispute over the development of the urban renewal project of the headquarters and the controlling shareholder OCT Group to the Shenzhen International Arbitration Institute for arbitration. After four trials, the joint development of the joint venture between Konka and OCT Group ended.
The long-standing accumulated dissatisfaction also led to the serious change of executives in Konka in 2015. Even in the history of A-shares, the situation of small and medium-sized shareholders holding the board of directors. The annual report disclosed that there were 42 changes in directors, supervisors and senior managers of Konka Company. Since June 2015, there have been six group management and one supervisor announced his resignation.
Today, after Konka transferred the 51% stake in Kunshan Kangsheng to OCT Group, it is the official handshake between the two. According to Li Chunlei, the chief financial officer, OCT Group has given Konka a lot of support, including granting nearly 10 billion credits. However, for Konka, the road ahead is still very difficult. After all, only the investment in the technology industry park has a clear investment of 43 billion yuan.