Adding the execution information, what was the last straw that crushed Gionee's mobile phone?

Wen 丨 BT Finance Aoyama Egret

The once-popular Gionee mobile phone has made waves again, exposing that it has been enforced by the court for hundreds of millions of yuan.

According to Tianyan's investigation, Shenzhen Gionee Communication Equipment Co., Ltd., an affiliate of Gionee Mobile Phone, added another piece of information on the person subject to enforcement, and the enforcement court was the Shenzhen Intermediate People's Court, and the subject of enforcement was more than 676 million yuan.

Gionee Mobile had previously filed for bankruptcy liquidation in December 2018. Gionee mobile phone once entered the first-line mobile phone brand queue in the domestic mobile phone market, and once became the domestic mobile phone sales champion in 2008.

Why did Gionee mobile phones go from day to day to final bankruptcy? Why is the bankrupt Gionee mobile phone still sold in the market?

The last straw that crushed Gionee's mobile phone

In fact, this is not the first time that Gionee mobile phone has been enforced by the court, according to Tianyancha, Gionee mobile phone has already had 5 pieces of executor information in the case, and the cumulative amount of execution has reached 930 million yuan.

According to media reports, the execution case of Gionee mobile phone was filed in 2019. The plaintiff was China Construction Bank Shenzhen Branch, Shenzhen Gionee Technology Co., Ltd., Dongguan Jinming Electronics Co., Ltd., He Dabing and Liu Lirong as defendants. In March 2019, 80% of the equity of Dongguan Jinshang Packaging and Printing Co., Ltd. under the name of Dongguan Jinming Electronics Co., Ltd. and 20% of the equity of Dongguan Jinshang Packaging and Printing Co., Ltd. under liu Lirong's name were judicially frozen.

According to the civil judgment released by the Shenzhen Intermediate People's Court, the court has confirmed that the plaintiff has the principal and interest of the bankruptcy claim against the defendant, which is about 676 million yuan. Liu Lirong, the founder of Gionee Mobile, is required to bear joint and several liquidation liability.

According to the media combing, the amount of unexecuted contracts of Gionee Mobile has reached 1.345 billion yuan, the proportion of unfulfilled amounts is 89.3%, and the total amount of execution has reached nearly 1 billion yuan.

According to the data provided by Gionee during the bankruptcy liquidation, Gionee Mobile currently has no cash and cash equivalents on its books, and once as an old domestic mobile phone giant, it has now ended up with no property to execute.

Gionee mobile phone lack of money has begun from 2018, when Gionee Group was exposed by the media into a break in the capital chain, Gionee mobile phone founder Liu Lirong admitted to the media that Gionee has been very short of money, because the company has been losing money for a long time, Gionee has fallen into a capital chain rupture crisis.

Some analysts pointed out that the rupture of the capital chain of Gionee mobile phones and the founder Liu Lirong's love of gambling are greatly related, and even some media pointed out that Liu Lirong embezzled money from the company's books and lost tens of billions of yuan on Saipan at one time. After the news was exposed, Gionee officials quickly refuted rumors that competitors deliberately smeared it.

Unexpectedly, Liu Lirong publicly responded, saying that he did have the hobby of gambling, but he did not lose as much as tens of billions, only more than a billion yuan. Liu Lirong lost more than a billion yuan on the gambling table at every turn, and finally pulled Gionee's mobile phone into the quagmire of broken capital chain, and Gionee was unable to return to heaven after bankruptcy.

In 2018, liu Lirong was exposed to leave Hong Kong after owing a huge amount of 21.1 billion yuan to suppliers, channel providers and banks, and has not appeared again, and has not appeared again until now.

Gionee mobile phone regrets the end

At the peak of Gionee's mobile phone, he even asked Andy Lau, one of the four heavenly kings, to endorse him, and the advertising slogan "gold quality, establish the world" is also well known to the people of the whole country.

According to the data, Gionee mobile phone was founded in 2002, the first main business as the selling point of the mobile phone after the listing, mobile phone sales have been growing by leaps and bounds. In 2006, Gionee mobile phones sold 10 million units that year, becoming the first domestic mobile phone sales, which shocked the world mobile phone giants Nokia and Samsung.

The strength of Gionee mobile phones at that time was beyond doubt, and it was the first domestic mobile phone sales for three consecutive years from 2006 to 2008, and the sales reached 800 million yuan, becoming a veritable domestic mobile phone giant.

But what caught Gionee by surprise was that the life of the feature phone was also coming to an end around 2009, and with the listing of Apple mobile phones and Android smartphones, the mobile phone industry began to face a subversion. Some brands of domestic mobile phones have transformed into smart phones, and at this time, Gionee is still immersed in the joy of becoming the first in sales, and has not made any moves for smart phones.

Gionee founder Liu Lirong found out in 2011 that the performance of Gionee mobile phones plummeted and began to accelerate the development of smart phones, but at this time Gionee has completely fallen behind in the smartphone industry.

Although Gionee mobile phones launched 7 smart phones in 2011, the market has long forgotten Gionee, and mobile phone manufacturers such as Apple, Samsung, Huawei, ZTE and Xiaomi have already divided the market.

In 2015, Gionee Mobile began to face a huge loss crisis due to the cliff-like decline in performance. In 2017, the media exposed that Gionee Mobile had debts of 17 billion yuan, of which 10 billion yuan was owed to banks (mainly Construction Bank) and 5 billion yuan to suppliers.

At this time, Gionee is still "addicted" to the marketing strategy of spending money, crazy advertising in mainstream media such as CCTV, at this time, Gionee owes advertisers 2 billion yuan in the case of a broken capital chain.

Liu Lirong, the founder of Gionee, who has no way out, thought of a way to introduce strategic investors to save the company, but at this time Gionee has been abandoned by capital, and no investor is willing to stand up and accept.

In 2018, because the whereabouts of Liu Lirong, who owed a huge debt, were unknown, in October of the same year, Liu Lirong's shares and personal assets held by Jin Lirong were frozen by the court, and Liu Lirong and He Dabing, financial director of Gionee Group, were listed by the court as dishonest executors.

In May 2018, Gionee, who had turned hopeless, was applied to the court for bankruptcy liquidation by creditors, and the former king of domestic mobile phones fell down.

According to media reports, although Gionee was filed for bankruptcy liquidation and the founder also lost track, Gionee mobile phone is still in normal operation, and recently launched a new model.

BT Finance enters the keywords of Gionee mobile phones on e-commerce platforms such as Jingdong, and more than 20 mobile phones can be searched for in sale, but most of them are low-end machines with prices below 1,000 yuan.

Where will Gionee mobile phones go in the future? BT Finance will continue to pay attention to you together.

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