In the eyes of employees of Shenzhen Duo Duoli Industry Co., Ltd. (hereinafter referred to as Duo Duoli), last year they still had excellent enterprises with sales of over 100 million yuan. Now they only have debts exceeding 90 million yuan. This does not include yet floating. The usury out of the water.
It is also unbelievable that Mao Guoluo, an entrepreneur with a halo of "2011 China's electronics industry leader", has ended his career in just a few years.
On October 8, Mao Duo, Chairman of Duo Duoli, his wife Cui Lihua and his family members who were employed in the company were all missing. Left behind a long list of outstanding debts: arrears to China Construction Bank (Longevity Branch) loans of 30 million yuan; arrears of Sinochem Far East International Leasing Co., Ltd. 17.28 million yuan, arrears of suppliers have registered more than 12 million Yuan; arrears guarantee company about 33 million yuan
Some people attributed Mao's current situation to the capital chain break caused by blind expansion. Just last year, Duo Duoli planned to invest 400 million yuan in Sichuan Shuangliu to build projects related to LED packaging applications. At the same time, Mao also planned to complete the Xiangfan production base in Hubei in the first half of this year and complete the construction of the Kunshan production base in the second half of the year. These are not small expenses. However, the registered capital is only over 20 million yuan, and the annual sales amount is only over 100 million yuan. Mao looks ambitious, and it is inevitable that some people will be alone or alone.
It is ironic that just six months ago, Mao Guoxuan once told the media that the current strong investment consortium and investors have come to an instant and the investment enthusiasm has skyrocketed. However, the actual situation is indeed a large proportion of blind investment, to a certain extent caused by the confusion of the LED industry, brought about a certain degree of impact on the development of the industry.
At the same time, Zhai Duoli’s family management model is also hidden: The company’s operations are controlled by Mao Guojun, while finances and audits are in the hands of his wife, Cui Lihua, and his executives are placed outside of other core affairs. Even when the company's business expanded, it did not establish a full-scale talent team, relying only on Mao's one-man trader. When faced with operating difficulties, the pressure was huge and it was difficult to withdraw.
In fact, the collapse of Duo Duoli is closely related to its blind expansion and operations, and it is also closely related to the overcapacity in the domestic LED industry.
According to a report released by Guangdong Province, LED companies in the United States, Japan, and Europe have more than 80% of LED chip core technology patents, while domestic similar companies have less than 10% of the same patents. Due to the lack of the most core chip technology, China's LED companies generally import foreign chips. The products of well-known foreign LED chip companies have a market share of nearly 100% in the domestic market. This strong contrast just happened to illustrate the ambiguity faced by the domestic LED industry.
“Looking at the future in pain.†Someone summarized the status quo of entrepreneurs in the LED industry. Behind the fragile capital chain and the industry’s false prosperity, Mao Guofan’s use of escape to face the crisis is also a manifestation of the lack of entrepreneurial spirit.
It is also unbelievable that Mao Guoluo, an entrepreneur with a halo of "2011 China's electronics industry leader", has ended his career in just a few years.
On October 8, Mao Duo, Chairman of Duo Duoli, his wife Cui Lihua and his family members who were employed in the company were all missing. Left behind a long list of outstanding debts: arrears to China Construction Bank (Longevity Branch) loans of 30 million yuan; arrears of Sinochem Far East International Leasing Co., Ltd. 17.28 million yuan, arrears of suppliers have registered more than 12 million Yuan; arrears guarantee company about 33 million yuan
Some people attributed Mao's current situation to the capital chain break caused by blind expansion. Just last year, Duo Duoli planned to invest 400 million yuan in Sichuan Shuangliu to build projects related to LED packaging applications. At the same time, Mao also planned to complete the Xiangfan production base in Hubei in the first half of this year and complete the construction of the Kunshan production base in the second half of the year. These are not small expenses. However, the registered capital is only over 20 million yuan, and the annual sales amount is only over 100 million yuan. Mao looks ambitious, and it is inevitable that some people will be alone or alone.
It is ironic that just six months ago, Mao Guoxuan once told the media that the current strong investment consortium and investors have come to an instant and the investment enthusiasm has skyrocketed. However, the actual situation is indeed a large proportion of blind investment, to a certain extent caused by the confusion of the LED industry, brought about a certain degree of impact on the development of the industry.
At the same time, Zhai Duoli’s family management model is also hidden: The company’s operations are controlled by Mao Guojun, while finances and audits are in the hands of his wife, Cui Lihua, and his executives are placed outside of other core affairs. Even when the company's business expanded, it did not establish a full-scale talent team, relying only on Mao's one-man trader. When faced with operating difficulties, the pressure was huge and it was difficult to withdraw.
In fact, the collapse of Duo Duoli is closely related to its blind expansion and operations, and it is also closely related to the overcapacity in the domestic LED industry.
According to a report released by Guangdong Province, LED companies in the United States, Japan, and Europe have more than 80% of LED chip core technology patents, while domestic similar companies have less than 10% of the same patents. Due to the lack of the most core chip technology, China's LED companies generally import foreign chips. The products of well-known foreign LED chip companies have a market share of nearly 100% in the domestic market. This strong contrast just happened to illustrate the ambiguity faced by the domestic LED industry.
“Looking at the future in pain.†Someone summarized the status quo of entrepreneurs in the LED industry. Behind the fragile capital chain and the industry’s false prosperity, Mao Guofan’s use of escape to face the crisis is also a manifestation of the lack of entrepreneurial spirit.
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