Although Xinfei has kept up with the first wave of China's reform and opening up, in the subsequent development, due to corporate decision-making, business discourse power and other reasons, it missed the opportunity of transformation and upgrading, and finally lost the dance with the times. Qualifications, gradually stepping downhill. Enterprises should learn from their warnings and lessons, and then take their own path of transformation.
According to reports, the entire shares of Henan Xinfei Electric Appliances, home appliances, and refrigeration appliances will be auctioned in the near future according to law, with a starting price of 450 million yuan. In addition, some land, real estate and buildings under the name of Xinfei Electric will be auctioned in July. The starting price was 115 million yuan. The new flight, once known as one of the "four golden flowers" of the Chinese refrigerator, officially went bankrupt after a failed joint venture.
In fact, the news that Xinfei is going bankrupt, liquidating and auctioning has been circulating in the industry for some time, and people have some psychological preparations. But when this news is confirmed, it is still embarrassing. Although there are no enterprises that will never go bankrupt, Xinfei has brought many lessons and warnings from the former leading enterprises in the industry, to the transfer of shares to Sino-foreign joint ventures, and now to the auction and liquidation.
Enterprise development must grasp the pulse of the times. The rise of the new flying refrigerator began in the transformation of a small factory in Xinxiang in the early 1980s. Of course, the founder’s hard work and wisdom, but it is even more important to note that the manufacturing direction of the new flying refrigerator is in line with China’s reform. The background of the times, such as opening up and improving people's lives. The entrepreneur's efforts and the need to adapt to the times have made the rapid rise of the new flying refrigerator. The negative proof is that although Xinfei has kept up with the first wave of China's reform and opening up, in the subsequent development, it missed the opportunity of transformation and upgrading due to corporate decision-making and business discourse rights, and finally lost. The qualification to dance with the times gradually stepped downhill.
Enterprises must have sufficient development autonomy. Xinfei has grown from a small factory to a domestic first-class enterprise, but it has repeatedly lost opportunities in the subsequent development. It is not only because of the self-styled self-styledness, but also because it lost its effective voice on the board of directors after the joint venture restructuring. The final decision-making power, and then missed some development opportunities. This warns us that the fundamental purpose of promoting enterprise reform is to develop. It must not be simply reform for reform, especially the loss of autonomy. At the same time, in addition to handling the relationship with the joint venture party, we must also handle the relationship between the government and the market, give play to the decisive role of the market in resource allocation and better play the role of the government.
Business operations must be realistic. It should be said that foreign capital participates in the new flight operation, and even becomes the absolute majority shareholder of the holding company. The intention is to hope that the new flight will continue to be brilliant. After all, no one is willing to save money to do things without a future. The reason why Xinfei finally collapsed was mainly because the decision-making level of the relevant joint venture party did not fully understand the domestic market conditions, and the development path and measures for the establishment of the enterprise were not realistic. For example, after the joint venture, the new flying blindly entered the small household appliances, the quality is difficult to guarantee, and the result is self-proclaimed. This also warns us that only by seeking truth from facts and grasping the quasi-market demand and development direction can the enterprise be in an invincible position.
Past experience guide for the future. The once-new domestic "funk king" has fallen, making people feel distressed. It is a pity that relevant enterprises should fully absorb warnings and lessons from them and take their own transformation path.
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