It's very simple.

According to the announcement of Shencheng Phoenix Bicycle Company, in 2016, Shencheng Phoenix Bicycle and FOR signed the "Bicycle Procurement Framework Agreement".

The agreement stipulates that FOR will provide a total purchase plan of no less than 5 million units to Phoenix Bicycles within 12 months, but from the actual situation, Shencheng Phoenix will only provide 1.86 million units to OFO, and the actual transaction between the two parties is expected to be less than 4%.

Lao Tzu took out a loan to help you build a bicycle, and you won't buy the rest?

The lawsuit requires FOR to pay a loan of 68.15 million yuan, a breach of contract fee of 1.86 million yuan, and the plaintiff's attorney's fees and guarantee fees of about 200,000 yuan, totaling more than 7,000 yuan.

What's more serious is that Shencheng Phoenix is not the only company that has financial disputes with FOR.

After Phoenix, other companies related to the travel industry immediately came forward to ask for arrears, we don't care about other people's families, you pay me back the money you owe me first.

Good guys, if all these things that ask for money are true, then FOR must not owe five or six billion.

Didn't FOR raise tens of billions?

How did you run out of money so quickly.

A well-informed person in the industry disclosed that FOR's liquidity was used to refund the deposit to users.

They tried to calm the panic in the market in this way.

It's okay, it's okay, our financial situation is very good, you see, we have refunded all the deposits you want to return.

It's all rumors of red-eyed capital.

The purpose of misappropriating funds to return the deposit has indeed been achieved.

On the day of the Wukong bicycle thunderstorm, there were as many as 127,040 claims for debt declaration in a single day.

Other bike-sharing brands have largely taken the same approach.

Seeing the difficulties are about to be overcome.

But suddenly such an incident appeared.

Anyone with a discerning eye knows that thunderstorms in this industry are inevitable.

In the second half of 2016, capital poured into the field of shared bicycles like a tide, and at the craziest time, there were hundreds of millions of dollars of funds on average every day, and new brands appeared almost every month, colorful and colorful.

There are nearly 70 bike-sharing companies in the market, with a total of more than 16 million vehicles and more than 130 million registered users.

Lin Dong refreshed the news page, and there was a hot search for meow, and sure enough, he found that many news and users said that the deposit could no longer be refunded with the application.

Some brands even have their deposit refund buttons greyed out.

None of this is fatal.

To the despair of the entire industry, an employee of a bicycle brand broke the news on the Internet: their CEO has left, 99% of the employees have been laid off, and the actual controller has lost contact.

Another person publicly broke the news that a bicycle owed 24 million yuan in deposits to 120,000 users, plus 1.6 million yuan in wages of other employees and 19.2 million yuan in debts from suppliers, totaling more than 45 million yuan, while the company only had 350,000 yuan on its books.

In desperation, he had no choice but to entrust the "Huaxia Renewable Resources Development Company" to recycle the bicycle, and the latter agreed to recycle it at a price of 12 yuan per car.

What is really decisive is that in the evening, the Ministry of Transportation issued the "management measures", which clarified that operating enterprises shall not embezzle user deposits, and stipulate the amount of deposits and advance payments, and the deposit shall not exceed 10% of the cost of a single vehicle.

Even Guo Jia came forward.

No one can hide the problems of this industry.

However, it is obviously too late, most of the bike-sharing brands, no, it should be said that all bike-sharing brands, do not have the ability to repay all the deposits.

On the day of the start of the Shencheng International Film Festival, the town bicycle admitted that the financial chain was broken.

In the afternoon, Xiaobai Bicycle openly sought to pick up the man.

3Vbike directly declared bankruptcy.

According to some grapevines, even the worship and FOR, which are known as the twin heroes of shared bicycles, are difficult to find financing.

The fund practitioner who broke the news said that yesterday, FOR President David rejected the valuation of their fund, the exact amount is not clear, but it is definitely lower than the round before the withdrawal of the cat factory a few months ago.

And today, Davide gritted his teeth and recognized the valuation.

It's a pity that their fund has given up on plans to enter the bike-sharing industry.

In the entire capital circle, the two words that appear most frequently in the past few days are shared bicycles and thunderstorms.

Boss Lin was in a heavy mood and refused to leave even the arranged red carpet.

Such a big event has happened in the Internet investment circle, and the cat factory is also one of the participants, and the organizing committee is also very able to understand him.

There are some well-informed people in the entertainment industry who can also see the clues.

If it weren't for the fact that he never publicly admitted his identity as the owner of the cat, it is estimated that someone would have called him to mourn and change.

But they were all mistaken.

Lin Dong's sadness is sadness, but it is different from what everyone thinks.

Everyone thought he was sad that the cat factory had not completely withdrawn from the industry.

In fact, he was heartbroken because he withdrew and couldn't catch up with the big loss.

From the withdrawal of FOR and worship, he earned eight or three billion, and after removing all the costs and rewards, he also had sixty or seventy in his hands.

And once he hadn't withdrawn before, all the money was thrown in.

Yes, all smashed in.

Even if Boss Lin is a novice in the investment circle and knows nothing about economics, he can see what is happening in this industry and what is about to happen.

No one can get out of it all.

Nine out of ten lives.

What a great opportunity, I don't know if I can still touch such an opportunity in my life.

The reason why it is said that there are nine deaths and nine lives is because there is still a glimmer of life here.

Some people want to escape, but there are also people who don't.

Capital doesn't care about profits, and it doesn't matter whether there is a thunderstorm or not, what they want is the market and the ecology, so they will be the last people willing to take over.

Of course, this takeover is not without a price.

The first is the valuation, for example, as early as a few months ago, that is, the round of the exit of the cat factory, the valuation was close to three billion dollars.

And this time, it is estimated that it will be difficult to exceed three billion.

Removing more than a billion dollars of debt, there will be less money left in the hands of the original shareholders, and a billion dollars can be considered for nothing.

Over time, the later you sob, the lower this valuation will be.

The key is that Hu Wei and Davide are reluctant to break their arms to survive.

In fact, in just one or two years, if they are willing to retire with a huge amount of more than one billion yuan, they are not considered successful people.

What is terrible is greed and luck.

Lin Dong now wants to inform Pei Qianlong to take over and worship.

The higher the offer, the better.

Unfortunately, the system does not allow it.

The industry has collapsed, and you have to drill into it, and it can't be said.

After all, the withdrawal was too clean at that time, and there was nothing left in the FOR and worship, even if they wanted to go in and save the scene, no one believed it.

Fortunately, I asked Pei Qianlong to buy back a part of Hi's equity.

I don't know if he's done it.

It would be a good thing if it was done before the thunderstorm.