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These days, Xie Jiannan feels uncomfortable, the Asian economic situation deteriorated sharply in the middle of the year, and there are only two months left, and no one is able to turn the tide. Pen? Interesting? Pavilion wWw. ｂiquge。 The huge loss of info Kewang this year is already a sure and irreversible fact, and everyone has a clear understanding of this, but it is publicized by the news media with great fanfare, and no one is in a good mood.

Around the beginning of November every year, CCTV Biaowang Enterprise will inevitably become the object of many media reports.

Generally speaking, it is difficult for the media to obtain accurate data, and it is usually tailored to the needs of publicity for some data, for example, if the profit prospect is not optimistic, then only focus on advertising revenue data.

In early November, AIDA Electronics announced its third-quarter operating data and provided a detailed forecast for its fourth-quarter financial position. That is to say, the situation of the disc machine market is exposed to the public in this way, not that the Kewang family wants to cover it up, and the slightly more professional media can infer the financial situation of Kewang as of the end of October this year from the operating data of Aida Electronics and the monitoring and sales data of the disc machine market released by the Ministry of Electronics.

The profitability of Aida Electronics from January to April is still jaw-dropping, with a monthly net profit of up to 80 million, while Kewang did not reach the breakeven point until the beginning of April, with a slight surplus in April.

At the beginning of May, Aida Electronics was successfully listed on the backdoor, and the financial data were merged into the listed company, after deducting the profits extracted from Kumho in the mainland market, it was incorporated into the revenue of Southeast Asian cities, and the net profit of Aida Electronics' disc machine business in the second quarter remained at a high level of 220 million Hong Kong dollars, which is also the total financial support for Aida Electronics' market value to hit 10 billion during that period.

The second quarter was also the most relaxed and enjoyable time for Kewang, with domestic sales data rising steadily, and the performance of overseas companies also continued to make breakthroughs, with a profit attributable to Kewang headquarters approaching 100 million, making up for most of the deficit caused by huge marketing costs in the first quarter.

If such a good situation can be maintained, even if he can't compete with Ida, Xie Jiannan's personal business life can be regarded as adding a brilliant stroke.

The situation has been deteriorating since the beginning of the third quarter.

At the beginning of July, the financial turmoil suddenly swept through the whole of Southeast Asia, and there was almost no warning, and it was so lightning fast that people were caught off guard.

AIDA Electronics was not even immune, with net profit in Southeast Asia plummeting from HK$40 million in the second quarter to less than HK$4 million. The pressure of the Southeast Asian market was transmitted back to China, resulting in increased competitive pressure in the domestic market and a sharp decline in stand-alone profits.

Relying on the cost advantage formed in the early stage, the net profit of the disc machine business in the third quarter remained above 100 million Hong Kong dollars, but the overall financial situation was only one-third of that in the second quarter.

With the spread of the Asian financial turmoil, the market value of Aida Electronics has also fallen from a peak of nearly 12 billion to about 5 billion.

In the fourth quarter, the disc machine market is not optimistic, but Aida Electronics announced two types of data at the same time, announced that it would use reserve funds to repurchase the company's shares, and the Kumho Electronic Technology Research Institute, which had previously sold the disc machine business to cash out, also announced that it would use a certain amount of funds to acquire the shares of Aida Electronics in the open market to maintain the current stock price from falling sharply.

At the time of the backdoor listing, Aida Electronics obtained an additional reserve fund of HK$600 million, plus the profits attributable to the listed company in two quarters and the previous capital surplus, Aida Electronics had available funds of up to HK$1 billion, and could repurchase up to 20% of the shares from the market. The key to maintaining the stock price is to boost the confidence of investors, and it does not really need to use much money, only the two or three billion yuan of funds originally planned to be used for dividends are enough to maintain the stock price at the current level.

At this time, Yuexiu Holdings does not care about the dividend funds of less than 100 million, and let Aida Electronics repurchase the dividend funds for share repurchase, which can maintain the trust of Hong Kong investors in Yuexiu Holdings, and can also moderately enhance the control of Aida Electronics.

Kumho Electronic Technology Research Institute's statement of increasing its holdings is to enhance its control over Aida Electronics at a low price, and secondly, Kumho took away a huge amount of cash through a backdoor listing when the stock market was high.

Kumho of course has to bear some responsibility, at the time of the backdoor listing, Aida Electronics' quarterly profit was as high as 250 million, after the backdoor listing, the profit scale immediately shrank to one-third of the level, but let Kumho take away 400 million at the best time, and everyone should praise Kumho's shit luck.

Most importantly, the Asian financial turmoil continues to spread, and Hong Kong's Hang Seng Index is also at a relatively sensitive point, and the Hong Kong authorities need some strong support. As the hardest hit area of the Hong Kong financial turmoil, red chips should also report some good news to boost morale at this time. Of course, Aida Electronics can't just report bad news and not good news.

As the leader of the disc machine industry, Aida Electronics is so "bleak", and the situation of Kewang can be imagined.

Due to the difference in manufacturing costs, Aida Electronics was able to maintain a meager net profit in Southeast Asia in the third quarter, and Kewang subsidized nearly 30 million yuan to the Southeast Asian market in the third quarter, not counting the previous losses of overseas companies. The most frustrating is the sudden increase in the pressure of the domestic market, the profit of a single machine continues to decrease, Kewang can also ensure a certain surplus in July, August is a line away from the breakeven point, in September due to the price offensive launched by Xinyuan electrical appliances, Kewang only inventory loss is close to more than 30 million, the profit of a single machine is below the breakeven point, the annual loss is likely to exceed 150 million, which does not count the losses suffered by overseas companies.

At this time, there were no signs of improvement in the economic situation.

In stark contrast to Kewang, it is the lively Xinyuan Electric.

Xinyuan Electric has never regarded AIDA Electronics as the target of competition, and it is precisely in the process of merging several small factories into Xinyuan Electric that it has received strong support from Kumho, the behind-the-scenes controller of AIDA Electronics, and has almost supported in all aspects such as component supply, technology, and business support.

At the beginning of the year, Xinyuan Electric unexpectedly obtained one of the seven places from Kumho, and extorted nearly 10 million fees and test equipment from Kewang.

Xinyuan Electric did not rashly start the marketing storm strategy, but on the basis of the integration of the resources of the original several small factories to advance steadily, they have not even had time to expand to the emerging markets in Southeast Asia, the financial turmoil has already occurred, so there is no need to bear the losses caused by the financial turmoil in Southeast Asia.

At the beginning of the year, the production and sales of Xinyuan Electric's disc machine were even less than a quarter of Kewang, and by the middle of the year, it was still only one-third of Kewang, but they strictly controlled the marketing and management costs, seized the most lucrative profit opportunity in the disc machine industry, and accumulated a certain amount of funds for subsequent development.

Entering the third quarter, the advantage of cost control was suddenly magnified, and when Kewang was struggling on the breakeven line, Xinyuan Electric continued to increase its publicity efforts to the market.

At the beginning of September, Xinyuan Electric received the price reduction support of Kumho half a month in advance, and was able to take the lead in setting off a storm of price reduction promotion in the terminal market, and suddenly narrowed the gap with Kewang in terms of production and sales, close to half of Kewang's production and sales, and became the sixth largest enterprise in the disc machine market.

The top six disc machine companies have carved up nearly 90% of the disc machine market, and Aida Electronics is still high, although Aida Electronics has only 30% of the target at the beginning of the year, but as of the end of October, it occupies 32% of the share in the domestic market. Xinke Electronics ranked second, Kewang ranked third, with a 13% share in the domestic market, BBK and Aiduo ranked fourth and fifth, and Xinyuan Electric ranked sixth, occupying 7% of the market share.

Coupled with the sales data of overseas markets, the total market share of Kewang is more than that of Xinke Electronics, but what is the use of this? Xie Jiannan sat in his office, looking painfully at the forecast data reported by the media.

At this time, Kumho entrusted a part of the single-disc disc disc player of Aida Electronics to Xinyuan Electric.

Although the foundry cost is low, each machine has a gross profit of twenty or thirty yuan, but the production and sales of Aida Electronics' single-disc disc machine are huge, and there are nearly 200,000 units of sales per month in the domestic market alone.

If Kumho could entrust this part of the OEM business to Kewang, Xie Jiannan doubted whether he would have the courage to refuse. Although the three companies teamed up to snipe Jincheng Real Estate to get some compensation - of course, it is still unknown when Jincheng Real Estate's income will be realized, but the financial pressure on Kewang is real.

The knock on the door interrupted Xie Jiannan's train of thought, and Chen Jingjiao's figure was reflected outside the frosted glass door. Kewang Hi-Tech, which is controlled by Daya Group and served as chairman and president of Chen Jing and Yu Ping respectively, has been involved in the mobile phone OEM underwriting business since October, relying on Kumho's components and technical support, which can be regarded as a pretty good start.

It is difficult to understand why Kumho will support Xinyuan Electric Appliances so carefully before and support disc machine spare parts enterprises - the economic crisis and financial turmoil affect the domestic disc machine market, but Kumho has never relied on its strong position in the disc machine market to compress the profit margins of spare parts enterprises.

Chen Jing walked in with the materials, looked at Xie Jiannan, who had been emaciated by the media reports in the past few days, handed him the materials, saw the newspaper on the table, and didn't say anything.

Not to mention that the annual net profit of Aida Electronics may be as high as 700 million yuan - this does not count Kumho's profit on disc machine components, Xinyuan Electric's profit this year will exceed 100 million, while Kewang will face a huge loss of nearly 150 million.

Putting the blame on the head of the financial turmoil? If it weren't for the sudden financial turmoil, it would not be difficult for Kewang to reach the profit target of two or three billion, but the media unanimously accused Kewang's gambling-like marketing strategy and leapfrogging enterprise development policy as the fundamental reason for Kewang's huge amount this year.

"Kewang has become the target of ridicule by the media, and it has also become a bargaining chip in their hands, they are planning to put pressure on CCTV on our Kewang, and they will exert their fists at this year's CCTV advertising investment conference, right?" Xie Jiannan looked up at Chen Jing and smiled bitterly.

A year ago, Kewang irrationally took the title of CCTV standard king in 97 at a cost of 350 million yuan, and became the bull's-eye of the media to criticize Kewang's gambling marketing strategy.

"Maybe......" Chen Jing responded, the relationship with Xie Jiannan has weakened, but the work still has to be maintained, and he can't leave at this time. Whether it is Xiang Xuehai or Aida Group, they are all affiliated enterprises of Kumho, and it is foreseeable that they are likely to be in the limelight at this year's CCTV advertising investment conference. Prior to this, attacking the previous bidder by the media of the local or central ministries and commissions that are inconsistent with CCTV will undoubtedly greatly dampen the enthusiasm of this year's participating enterprises to compete for the bidder.

"Liu Minghui's salary for the next year, will you talk to him, or will I talk to him?" Xie Jiannan asked.

The sales director with an annual salary of 800,000 yuan is too luxurious for Kewang Electric.

"I'll talk to him......" Chen Jing knew that it was cruel to discuss this issue with Liu Minghui, but after all, he was the vice president in charge of marketing, and he couldn't casually push the matter onto others. It's not just Liu Minghui's problem, but the group of people who jumped into the marketing department of Kewang with Liu Minghui last year are all headaches. Kewang wants to continue to walk, continue to maintain the disc player business, continue to maintain the brand of Kewang, we must reflect, we must change the radical, gambling business strategy.

"Okay, you can talk to them, if you can't talk, you can get together and disperse." When Xie Jiannan said this, he had the feeling of being a hero in the twilight.

Liu Minghui received a call from Chen Jing to her office, a little apprehensive, it was almost the time of the CCTV Advertising Investment Conference for a year, he didn't care about Kewang's marketing plan for the next year, but last year, on the eve of the CCTV Advertising Investment Conference, he and nine other salespeople jumped from Aida to Kewang.

The one-year employment period is coming to an end, and until now, Kewang has not talked to him or anyone else about renewing the employment.

What the outcome will be, Liu Minghui can also imagine.

Pushing open the door of Chen Jing's office, looking at Chen Jing picking up the glasses on the corner of the table and putting them on, the image of a beautiful and dignified professional girl, the middle level of the company knew that she and Xie Jiannan had fallen into a state of cold war, and the root cause was caused by the conflict of interests between Chint Group and Daya Group.

"You sit ......" Chen Jing stretched out her hand to invite Liu Minghui to sit down, pursing her lips, and it was difficult to open the topic.

"Mr. Chen came to me to talk about my work arrangement for the next year, right?" Liu Minghui forced himself to make a commotion and provoked this talk first.

"Oh......" Chen Jing took a folder on the desk in his hand, opened it and looked at it, stopped talking, closed the folder and pressed it under the palm of his hand, leaned forward to look at Liu Minghui, "Is it possible for you to go back to Kumho?" ”

Liu Minghui knew what the answer was pressed under the folder, and even Chen Jing couldn't bear to say it, so she asked herself if it was possible to go back to Kumho, in her opinion, it was a relatively more suitable path to go back to Kumho.

Things have dragged on until now, and any ending can be thought of, Liu Minghui doesn't want to eat back grass, and he is not the only one who has this idea, Kumho is so prosperous, and it is not a shameful thing to change jobs.

In the face of Chen Jing's sincere eyes and suggestions, Liu Minghui did not hide anything, and said: "Kumho has set up a new sales company, and people are needed, some people will choose to go back, and they will accept it, I have also been in contact with Yang Yun, it may be that when I left Aida last year, the impact was relatively large, no one can make an idea, I want to ask that person, the email is sent over, and there are only two words ...... back: 'read'"

Chen Jing didn't know how to comfort Liu Minghui.

Chen Jing picked up the folder and asked, "Do you want to take it back to the office to see?" It's okay to get back to me in two days. ”

Liu Minghui thought to himself how low the salary he could accept, 200,000, 100,000? sighed, let's keep a little dignity, and said: "I plan to go to Guangdong after the work at hand, and some classmates have opened an electronics factory there, and they are considering starting a ......business together."

"That's fine, if you need help, please feel free to let me know." Chen Jing really couldn't bear to hand the folder to Liu Minghui.

Chen Jing spent half a day talking with the group of people who followed Liu Minghui to Kewang one by one, and four people will return to Kumho, it seems that Kumho seems to retain the good work records of these four people, only one person chooses to stay and accept the new salary standard given to them by Kewang, and the other four people choose to leave Kewang with Liu Minghui, indeed, it is difficult for people to accept that the annual salary suddenly drops to only one-fifth, one-sixth or even lower than the original level, and the people who chose to stay in Kumho at the beginning, although they can't all soar all at once, But it's enough to make people of the same age envious.

For Chen Jing, the headache is far more than that.

Kewang collected up to 200 million funds from dealers in the form of collecting deposits, which supported the daily operations of Kewang at present, and since the news of Kewang's possible huge losses this year was revealed to the media, those dealers began to worry about the safety of their deposits.

In the past year, Kewang has invested almost 200 million yuan in fixed assets; To say that Kewang's assets, almost half of them are in the brand of Kewang.

The value of the brand needs to be maintained by continuous market investment, and the fixed assets will continue to decrease with the extension of life.

This year's losses have been unavoidable, the key next year to how to reverse the current disadvantage, but before this first to maintain the dealers, the market confidence in Kewang.

As long as Kewang changes the current overly radical business ideas, greatly reduces the excess investment in market promotion, and adopts some prudent market competition strategies, it is still not difficult to produce in the disc machine industry. In the past half a year, Kewang is also willing to invest in research and development, and the production cost control is better than that of other disc machine manufacturers, the key is that after the rapid dilution of the profits of the single machine, the loss caused by marketing costs is too large, which is the direct cause of the huge loss of Kewang this year.

The scale of AIDA's disc machine business is twice that of Kewang, but their investment in domestic market promotion this year is even one-third lower than that of Kewang......

Of course, it is not easy to turn around.

Formulate new market operation policies and continuously strengthen cost control.

The capital structure supported by the margin is extremely unbalanced, and once the dealers withdraw their deposits from Kewang on a large scale, Kewang will be in trouble due to a serious lack of liquidity to maintain normal production.

It is imperative to find a stable source of funding to improve the funding structure of Kewang.

Unfortunately, it is impossible for several major shareholders to continue to inject new funds into Kewang, and Kewang's huge losses this year are unavoidable, and it is difficult to find new capital injections, and it is also very difficult to borrow from banks.

Chen Jing sat quietly in the office, not knowing how to get rid of the predicament in front of him, thinking to himself, if it were him, how would he face the current predicament? Or let Kewang delay so much and put his energy on Kewang Gaoke?