I’m Almost Losing to a Muggle

It's very simple.

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

According to the agreement, FOR will provide Phoenix Bicycles with a total purchase plan of no less than 5 million bicycles within 12 months, but in reality, Shencheng Phoenix only provides 1.86 million bicycles to OFO, and the actual transaction between the two parties is expected to be less than 4 million. become.

Lao Tzu borrowed money to help you build bicycles, so you don’t want to buy the rest?

The lawsuit requires FOR to pay 68.15 million yuan in loans, 1.86 million yuan in breach of contract fees, and about 200,000 yuan in plaintiff's attorney fees and guarantee fees, totaling more than 70 million yuan.

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

Immediately after Phoenix, other companies related to the travel industry stood up and demanded the arrears.

Good guy, if these requests for money are true, then FOR still has to owe five or six billion.

Didn’t FOR raise tens of billions of dollars?

How did you run out of money so quickly?

A well-informed person in the industry disclosed that FOR's working capital has been used to refund users' deposits.

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

It's okay, it's okay, our financial situation at FOR is very good, you see, we refunded all the deposit you wanted to refund.

It's all rumors spread by jealous capital.

The purpose of refunding the deposit for misappropriation of funds has indeed been achieved.

On the day of Wukong’s bicycle storm, there were as many as 127,040 applications for debt declarations in a single day. After a few days of “slapping the face and pretending to be fat”, the turmoil of deposit refunds was finally suppressed.

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

Seeing that the difficulties are about to be overcome.

But suddenly such a thing appeared.

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

In the second half of 2016, capital poured into the bicycle sharing field like a tide. At the craziest time, an average of hundreds of millions of dollars entered the market every day, and new brands appeared almost every month, in a variety of colors.

There are nearly 70 shared bicycle 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 also a trending search on Miaomiao. Sure enough, he found a lot of 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 resigned, 99% of the employees have been laid off, and the actual controller has lost contact.

Another person publicly revealed that a certain bicycle owed 120,000 users deposits of 24 million, plus other employees' salaries of 1.6 million and suppliers' debts of 19.2 million, a total of more than 45 million, while the company only had 350,000 in its account.

In desperation, they had to entrust Huaxia Renewable Resources Development Company to recycle the bicycles, and the latter agreed to recycle them at a price of 12 yuan per bicycle.

The real final word is that the Ministry of Communications released the Management Measures in the evening, which clarified that operating companies are not allowed to misappropriate user deposits, and stipulated deposits and prepayment amounts. The deposit must not exceed 10% of the cost of the bicycle.

Even Guo Jia came forward.

No one can hide the problems in this industry.

However, it is obviously too late. Most of the shared bicycle brands, no, it should be said that all shared bicycle brands do not have the ability to repay all the deposits in their accounts.

On the day when the Shanghai International Film Festival started, Ding Ding Bicycle admitted that the funding chain was broken.

In the afternoon, Xiaobai Bicycle openly sought to take over Panxia.

3Vbike directly declared bankruptcy.

According to gossip, it is difficult to find financing even for Worship and FOR, which are known as the two heroes of shared bicycles.

The fund practitioner who broke the news said that yesterday, FOR President David David rejected the valuation of their fund. The specific amount is unclear, but it is definitely lower than the round before the cat factory withdrew its capital a few months ago.

Today, David gritted his teeth and accepted this valuation.

It's a pity that their fund has given up its plan to enter the shared bicycle.

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

With a heavy heart, Boss Lin refused to leave even the arranged red carpet.

Such a big event has happened in the Internet investment circle, and Maochang is also one of the participants, and the organizing committee can understand him very well.

Some well-informed people in the entertainment industry can also see the clues.

If it hadn't been for him never publicly admitting his identity as the cat owner, someone would have called him to express his condolences.

But they were all wrong.

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

Everyone thought that he was sad because 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 money loss.

Withdrawal from FOR and Worship, he earned 8.3 billion. After removing all costs and rewards, he still has 60 to 70 in his hands.

And once he didn't withdraw the capital before, all the money went in.

Yes, it's all smashed in.

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

No one can escape unscathed.

Narrow escape.

What a great opportunity, I don't know if I can meet such an opportunity in this life.

The reason why it is said to be close to death is because there is still a glimmer of life here.

Some people want to escape, but some people don't want to escape.

Capital does not care about profit or thunderstorms. What they want is the market and ecology, so they will be the last ones willing to take over.

Of course, this takeover is not without cost.

The first is valuation. Take Worship as an example. As early as a few months ago, that is, the round when Maochang exited, the valuation was already close to three billion US dollars.

And this time the valuation is estimated to be difficult to exceed three billion.

If more than one billion US dollars of debt is removed, the original shareholders will have even less money, and even one billion US dollars is a waste of money.

As time goes by, the later you sell, the lower this valuation will be.

The key depends on whether Hu Wei and David are willing to break their arms to survive.

In fact, in just one or two years, if they are willing to retire with a huge sum of more than one billion yuan, they can be regarded as successful people.

What is terrible is greed and luck.

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

The higher the asking price, the better.

Unfortunately, the system does not allow it.

This industry has collapsed, and if you have to get into it, it is unreasonable.

After all, the evacuation was too clean at that time, and nothing was left in FOR and Worship. Even if they wanted to go in and save the field, no one would believe it.

Fortunately, Pei Qianlong was asked to buy back part of Hilo's equity.

I don't know if he finished it or not.

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