All round car designer

Chapter 170 Wei Peng Automobile
Feichi company headquarters, chairman's office.

After Li Jianneng returned from Gusu City, he found Zhou Fei immediately, and planned to report to Zhou Fei about his work during this period.

"Mr. Zhou, after I came to Gusu this time, I learned about several electronic factories that were about to go bankrupt without much effort. This is the information I compiled about them. You can take a look first."

With that said, Li Jianneng handed over a thick document.

"Thank you, please sit down first." Zhou Fei took the document with a smile, and then read it seriously.

In this document, Li Jianneng listed a total of five companies on the verge of bankruptcy for Zhou Fei to choose from.

The scales and industries involved in these companies are different, but there are only two that are linked to the automobile industry, and the remaining three are in the mobile phone and home appliance industries, but it doesn't matter whether they are automotive electronics or not. Anyway, Zhou Fei It is necessary to upgrade the workshop.

The data introduces the asset size of each company in detail, and attaches the published financial statements, including equity relationship, creditor's rights relationship and other information that can be found publicly. Some comments, such as comprehensive credit status, asset evaluation, etc.

"In fact, I learned that there are more than ten bankrupt companies, but some of them are non-performing assets belonging to the parent company. If we acquire them, it will only bring a greater financial burden, so I eliminated these few, and the rest Of these five, there is no problem with asset reputation or anything, it depends on which one you like, Mr. Zhou."

While Zhou Fei was reading, Li Jianneng explained from the side.

To be honest, Zhou Fei doesn’t know much about corporate acquisitions, so the criteria he chooses are also very rough. The first is the company’s acquisition valuation, and the second is the company’s production capacity. On the premise that the production capacity meets the requirements, the purchase price The lower it is, the more likely it is to enter Zhou Fei's final list.

After a rigorous comparison, Zhou Fei finally limited his target to two companies: Tianhong Electronics and Wei Peng Electronics. The former produces mobile phone electronics, while the latter produces automotive electronics.

However, the purchase price of Tianhong Electronics is much lower than that of Weipeng Electronics. This is also where Zhou Fei struggles, otherwise he must choose Weipeng Electronics first. After all, it is in the automotive electronics industry, and all the equipment is relatively complete. Not much needs to be remodeled.

"Old Li, if you choose from these two companies, which one do you think is more suitable?" Zhou Fei circled the names of Tianhong Electronics and Weipeng Electronics.

"If it's these two, I recommend Mr. Zhou to choose Tianhong Electronics." Li Jianneng just glanced at it, and quickly gave his answer.

"Is it because of the low asset valuation?" Zhou Fei asked curiously.

However, Li Jianneng shook his head, "The reason why I gave such a figure to the valuation of Tianhong Electronics is not because the actual assets of this company are only worth so much, but because Tianhong Electronics has entered the bankruptcy liquidation process. , the asset price is seriously underestimated, so if we acquire this company, we can obtain a certain asset premium.”

"So that's the case." Zhou Fei nodded silently.

According to Li Jianneng's explanation, Tianhong Electronics is indeed Zhou Fei's best choice. He can buy better quality assets at a lower price. This is something that everyone wants to encounter in corporate mergers and acquisitions.

"Then what about Wei Peng Electronics? What is his background? Why have I never heard of this automotive electronics supplier?" However, Zhou Fei did not rush to make up his mind, but pointed to the name of another company and asked. .

"It's normal that Mr. Zhou has never heard of this company, because it took more than a year from the start of production to the sale, and Wei Peng Electronics was sold this time not because of bankruptcy, but for other reasons. .”

"It wasn't caused by bankruptcy?" Zhou Fei became more and more curious, "Then why did he sell his assets?"

A company that has just been established for less than two years is so eager to sell its assets that it is either laundering money or its investors are fools.

"To be precise, Wei Peng Electronics was not sold because it was about to go bankrupt, but because its parent company was in financial trouble and had to sell this subsidiary to help the parent company through the crisis."

Li Jianneng sighed, and then continued, "Mr. Zhou should know the parent company of Weipeng Electronics. He is the first private car company in China, Weipeng Automobile!"

"Weipeng Automobile... No wonder I always feel that the name Weipeng Electronics is very familiar. It turns out to be its subsidiary!" Zhou Fei suddenly realized.

As long as they are engaged in the automobile industry in China, there is no one who does not know the company Wei Peng Automobile. Founded in 2003, Wei Peng Automobile was the first private automobile manufacturer in China. Its establishment at that time can be said to have caused It shocked the entire domestic auto market and broke the monopoly of state-owned automakers and joint ventures on the domestic market in one fell swoop.

At the beginning of Wei Peng Automobile’s establishment, the momentum of development was indeed very strong. In the first two years, three models were launched in succession, and each model was well received by consumers. The annual sales volume reached more than [-] vehicles. Joint-venture vehicles like Auto Dafeng challenge private car companies.

It is no exaggeration to say that the Wei Peng Automobile at that time was the Mercedes-Benz Automobile now, and even to a certain extent, Wei Peng Automobile was even more popular. domestic automaker, the first automaker to achieve full self-production...

All in all, Wei Peng Motor was regarded as the greatest hope for the rise of national automobiles at that time, and insiders once believed that Wei Peng was expected to become China's "Dafeng Motor"!
However, the development of Weipeng Automobile did not go according to people's expectations. Although there were new cars launched in the first two years, from the third year onwards, Weipeng Automobile rarely released new models. It took five years to launch its fourth model.

But at that time, the global financial tsunami happened, and the physical industry was hit the hardest. Since Wei Peng Motor was established late, its ability to resist risks was not high. In addition, a project in cooperation with Dafeng Motor was not happy. In the end, Wei Peng Auto fell into a trough.

2008 became a turning point in the development history of Weipeng Motors. Since that year, Weipeng Motors seems to have lost its magic power at the beginning, and the quality problems of the manufactured vehicles have repeatedly exploded. In 2010, it was even recalled on a large scale. With more than [-] cars, the company's reputation suddenly fell to the lowest point.

Quality became the last straw that crushed Wei Peng Auto. After 2010, Wei Peng Auto was exposed to the news that it was about to go bankrupt almost every year, but each time, Wei Peng Auto realized the continuation of the parent company by selling the company's assets. .

Zhou Fei didn't expect that Wei Peng Motors would be in the situation of selling its assets again after how long it had passed!

(End of this chapter)