the moment, by the downward impact of the overall domestic automobile market of automobile firms, growth of new energy vehicles stopped in her tracks, with the country back up the slope, to fill canceled and other factors, the new energy of a closed-loop chain also received a strong influence, even the old lithium battery giant company, OPTIMUM has entered bankruptcy liquidation, suffered unprecedented financial difficulties.
Recently, the parent company that is listed on the main OPTIMUM firm can Rivoli announcement that the Shenzhen Intermediate People’s Court on November 7, 2019 Huangzai Ting decides to accept an application for bankruptcy Shenzhen Wo Tema Battery Co., Ltd. liquidation case.
OPTIMUM liquidation
announcement shows, the Shenzhen Intermediate People’s Court initially identified: OPTIMUM Battery Co., Ltd. Shenzhen City are still in operation, currently employs more than 800 people, foreign liabilities of approximately 19.7 billion yuan, of which 559 suppliers owed debt of about 54 billion yuan. The company has assets located in Shenzhen, Ping mountain Kengzi street construction land (59,030.15 square meters) and external equity investments, vehicles, inventory, equipment, accounts receivable and so on.
and had served as the age and Ningde, BYD shoulder to shoulder such a battery company, has created OPTIMUM times 1681 net profit legendary growth. But in the rapidly changing new energy industry policy and technology roadmap, the company began to decline, deep debt default imprisoned until the last meltdown.
Kennedy Rivoli able to show that if the people’s court OPTIMUM into liquidation, will have a positive impact on the company to resolve the debt crisis currently facing. Once inside part of the bankruptcy reorganization, the plight of OPTIMUM parent firm Ruiwo can currently facing will usher in turn, can Rivoli Kennedy debt restructuring is successful, will be able to move forward with ease, promote the progress of the introduction of strategic cooperation. Therefore, on the same day, Kennedy Rivoli progress can be issued a notice of the introduction of strategic investors.
was the giant battery power
public information, Shenzhen City Wo Tema Battery Co., Ltd., headquartered in Shenzhen, China, it is the first successful development of new energy vehicles and batteriesOne of the first to achieve enterprise-scale production and batch applications, ranking the top three Chinese power battery, its battery in domestic and 25 new energy vehicle demonstration cities accounted for about 20 percent market share.
In 2008, when the government’s efforts to promote aid, OPTIMUM began to expand the program to pure battery electric buses, and At the opening of the 2008 Shanghai World Expo, OPTIMUM has become a technical support provider of pure electric bus. By the year 2011, OPTIMUM in the new energy bus market gains of nearly 70 percent share.
and in 2015, the Ministry issued the first in line “automobile power battery industry standard conditions” of the enterprise directory, only 10 companies selected, Wo Tema batteries become the only one selected enterprises in Shenzhen. So far, Wo Tema usher in their peak time, it launched a number of new energy automobile enterprises depth cooperation, Ningde also followed the era of installed capacity, after BYD.
can not last, in 2016, with the Wo Tema battery can be acquired firm Revell, OPTIMUM began to go downhill, strategically, OPTIMUM hope through large-scale production to enhance their productivity, and the only costs to a minimum, however, as new energy subsidies sharply back slope, commercial vehicles posted a decline in the amount of nearly half of the amount, adding quot; non-personal purchase of new energy vehicles, operators need over 30,000 kilometers before they receive subsidies quot; is to say, the subsidy back slope, OPTIMUM customers can not get the full amount of the corresponding attached to the subsidies, leading OPTIMUM can not immediately recover the cost of the inventory turnover difficulty increase.
Meanwhile, in 2017, a high energy density battery with three yuan known favored by the market, whereas a lower energy density of lithium iron phosphate falling demand. This is a fatal blow to highly focused on lithium iron phosphate batteries Wo Tema, in the entire 2017 have not launched three yuan lithium battery products, the loss of this market.
and the large range of environments, the price of power battery systems is constantly dropping, the industry average last year reached 1.4-1.5 yuan / Wh, compared to the previous year price cut to 30 percentage in battery companies can not control costs and profit margins can not be lifted when OPTIMUM debt problemsFacing collapse.
battery has suffered a knockout
In fact, manufacturers of battery power, the difficulties encountered and more than this one, we all know, a few years ago, when the rapid rise of new energy , installed capacity battery also showed a rising multiples, however, has a reserve battery technology and corporate cash flow is almost very few, a lot of battery power companies have suffered a large number of customers who are owed money. Among them, the huge payment can not recover in time, to power battery production enterprises to expand in the procurement, production, R & D and equipment upgrades, etc. constitute great pressure, so that enterprises have to reduce the operating rate, effective solution to reduce spending.
And, with the 2018 New Deal Government lithium battery, condition Mileage 150 km below the electric cars are no longer subsidized. And companies like OPTIMUM, regardless of capacity or inventory can not proportion of the current mainstream of the market power of the battery pack, produced by the battery does not achieve the required energy density requirements, resulting in sales this part of the inventory is directly blocked. Meanwhile, the electric car market has undergone relatively large pattern, the battery capacity has been emptied 70% or more. Battery business also want to lock in partnerships, so, OEMs tend to battery manufacturers at the same time with the two formed a strategic cooperative relations, production or acquisition of the battery business.
and in the power of the battery lose its competitiveness in the future, most of the manufacturers and no ability to control their own wind approaching a minimum, enterprises in the no orders, but also face a new round of reshuffle, so that would have They hit businesses even worse, reason, or because it is not proportional to the net profit and loss, coupled with the capital chain rupture, leading to increased production enterprises difficult.
wrote at the end of the text
In fact, for a battery, it is not a simple imitation, it also requires a lot of investment in human and financial resources, and when companies do not have the ability to At the same time expand the scale nor the core technology of the time, or the plight of its debt crisis largely.
and after the introduction of subsidies, more and more companies will receive new energy repairer large market impact, and gave power toPool, its technical requirements will be more stringent, the amount of subsidy will be more standardized, if there are no major core competitiveness and ability to respond to market changes, the former giants still being out of the market.