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In order to solve the current debt problem, Waltma set up a special working group to take four major measures to deal with it. Including strengthening the collection of accounts receivable, considering introducing factoring companies into long-term receivables of some bus companies, transferring creditor's rights and obtaining cash flow.
In April this year, Waterma burst out of the debt crisis, involving many upstream suppliers, including a number of A-share companies and new third board companies, triggering a chain reaction is still fermenting. "I do not know if there is any" mine "that has not yet been exposed. A supplier told the China Securities Journal reporter. At present, Fortier and its parent company, Kennedy, are taking various measures to save themselves.
Active self rescue
For those familiar with the development of the industry, the outbreak of the crisis is not unexpected.
Reporters learned that before the outbreak of the crisis, Waterma had realized that there were strategic mistakes and began to adjust its business model. Through the development of energy storage battery business, enter the development momentum of better ternary battery market and other means to deal with. At the beginning of this year, Li Yao, chairman of Waterma, revealed that Waterma will build its first three-component battery production line in the first half of this year, and complete the design of square battery batteries and PACK production line in the same year. We will also increase R&D investment in microgrid energy storage, standby power supply for communication bases, and application of energy storage products for the State Grid.
In fact, developing energy storage batteries has become an inevitable move. Zhong Mengguang told China Securities Journal: "inventory has had a fatal impact. The original judgement is more optimistic, so stocks are high. A considerable part of the batteries did not meet the requirements of the energy density required by the subsidy. Under such circumstances, downstream vehicle manufacturers have no intention to purchase, otherwise they will not get the corresponding subsidies. Waterma's current approach is to develop the energy storage battery business and convert this part of the inventory into energy storage batteries for sale. Although profit margins have declined to some extent, they can effectively reduce inventories.
However, due to energy storage policy, lithium battery price, electricity and other factors, lithium battery has not yet been widely used. According to the GGII survey, the output of lithium-ion energy storage market in 2017 was about 3.5 GWh, up 13% year-on-year, and the output value was 5.5 billion yuan, up 7% year-on-year. GGII believes that the industrial critical point of lithium-ion energy storage market is close, and 2018 will be the beginning of the rapid development of China's energy storage industry.
"The market for energy storage batteries is far from up, and it's hard to say whether we can digest this part of Waterma's inventory. With more than one company grabbing the cake, it's hard to determine how much Waterma can take in it. He said.
Although missed the best opportunity to seize the ternary battery market, Waterma said that in the future more resources will be invested to develop ternary batteries, rapidly develop high nickel ternary power batteries with market competitiveness, to make up for the company's absence in the ternary battery market. In 2018, Waterma plans to launch high nickel lithium-ion batteries with energy density of 220Wh/kg and cycle times of more than 2000 times. Meanwhile, it will start a 21700-4.0Ah lithium-ion battery production line to realize batch production.
But the crisis erupted earlier. For this reason, water horse and Kenneth can only take measures to save themselves.
In order to solve the current debt problem, Waltma set up a special working group to take four major measures to deal with it. Including strengthening the collection of accounts receivable, considering introducing factoring companies into long-term receivables of some bus companies, transferring creditor's rights and obtaining cash flow.
Secondly, actively consult with suppliers to settle current maturing debts in the form of inventory materials, batteries and vehicles, sales of fixed assets and debts. At present, about 1.848 billion yuan has been agreed upon, accounting for 84.80% of the due accounts payable of Waterma in Shenzhen, involving 104 suppliers.
Aiming at the loan of banks and other financial institutions, 18 financial institutions led by Shenzhen Branch of the Export-Import Bank of China, Shenzhen Branch of the Zhejiang Commercial Bank and Shenzhen Branch of the Industrial and Commercial Bank of China have set up Waterma Creditor's Rights Finance Interbank Committee (hereinafter referred to as "syndicate"). The creditor's rights units of syndicate agree to maintain the current financing situation. Time to introduce strategic investors to Shenzhen to protect the common interests of all financial interbank creditors. Strive to extend the existing bank's 5 billion 600 million yuan loan for one year, and ensure that interest is paid on time.
In addition, actively introducing strategic investors to enhance liquidity.
"The general situation of water horse is not optimistic now. I wonder if we can introduce the war throws in the end." Heng Jun technology related people told the China Securities Journal reporter.
Bring disaster to the fish in the moat
Since the beginning of the Spring Festival, the operation rate of water horse has been relatively low, and some factories have been shut down. In response to the Shenzhen Stock Exchange inquiry, JianRuiVoneng revealed that the company's orders were reduced and its inventory was large. Before the Spring Festival, all factories together could produce 3 million cores a day, and after the Spring Festival, only 600,000 cores a day.
Announcements show that as of the end of March 2018, the company's operating rate was only 20%. Some production subsidiaries suspended production, and the demand for materials decreased. The payment conditions of suppliers are more severe, and normal supply can be maintained under full payment conditions.
As the top three power battery in China
Can capital chain break affect the "pond fish"?
In April this year, Waterma burst out of the debt crisis, involving many upstream suppliers, including a number of A-share companies and new third board companies, triggering a chain reaction is still fermenting. "I do not know if there is any" mine "that has not yet been exposed. A supplier told the China Securities Journal reporter. At present, Fortier and its parent company, Kennedy, are taking various measures to save themselves.
Active self rescue
For those familiar with the development of the industry, the outbreak of the crisis is not unexpected.
Reporters learned that before the outbreak of the crisis, Waterma had realized that there were strategic mistakes and began to adjust its business model. Through the development of energy storage battery business, enter the development momentum of better ternary battery market and other means to deal with. At the beginning of this year, Li Yao, chairman of Waterma, revealed that Waterma will build its first three-component battery production line in the first half of this year, and complete the design of square battery batteries and PACK production line in the same year. We will also increase R&D investment in microgrid energy storage, standby power supply for communication bases, and application of energy storage products for the State Grid.
In fact, developing energy storage batteries has become an inevitable move. Zhong Mengguang told China Securities Journal: "inventory has had a fatal impact. The original judgement is more optimistic, so stocks are high. A considerable part of the batteries did not meet the requirements of the energy density required by the subsidy. Under such circumstances, downstream vehicle manufacturers have no intention to purchase, otherwise they will not get the corresponding subsidies. Waterma's current approach is to develop the energy storage battery business and convert this part of the inventory into energy storage batteries for sale. Although profit margins have declined to some extent, they can effectively reduce inventories.
However, due to energy storage policy, lithium battery price, electricity and other factors, lithium battery has not yet been widely used. According to the GGII survey, the output of lithium-ion energy storage market in 2017 was about 3.5 GWh, up 13% year-on-year, and the output value was 5.5 billion yuan, up 7% year-on-year. GGII believes that the industrial critical point of lithium-ion energy storage market is close, and 2018 will be the beginning of the rapid development of China's energy storage industry.
"The market for energy storage batteries is far from up, and it's hard to say whether we can digest this part of Waterma's inventory. With more than one company grabbing the cake, it's hard to determine how much Waterma can take in it. He said.
Although missed the best opportunity to seize the ternary battery market, Waterma said that in the future more resources will be invested to develop ternary batteries, rapidly develop high nickel ternary power batteries with market competitiveness, to make up for the company's absence in the ternary battery market. In 2018, Waterma plans to launch high nickel lithium-ion batteries with energy density of 220Wh/kg and cycle times of more than 2000 times. Meanwhile, it will start a 21700-4.0Ah lithium-ion battery production line to realize batch production.
But the crisis erupted earlier. For this reason, water horse and Kenneth can only take measures to save themselves.
In order to solve the current debt problem, Waltma set up a special working group to take four major measures to deal with it. Including strengthening the collection of accounts receivable, considering introducing factoring companies into long-term receivables of some bus companies, transferring creditor's rights and obtaining cash flow.
Secondly, actively consult with suppliers to settle current maturing debts in the form of inventory materials, batteries and vehicles, sales of fixed assets and debts. At present, about 1.848 billion yuan has been agreed upon, accounting for 84.80% of the due accounts payable of Waterma in Shenzhen, involving 104 suppliers.
Aiming at the loan of banks and other financial institutions, 18 financial institutions led by Shenzhen Branch of the Export-Import Bank of China, Shenzhen Branch of the Zhejiang Commercial Bank and Shenzhen Branch of the Industrial and Commercial Bank of China have set up Waterma Creditor's Rights Finance Interbank Committee (hereinafter referred to as "syndicate"). The creditor's rights units of syndicate agree to maintain the current financing situation. Time to introduce strategic investors to Shenzhen to protect the common interests of all financial interbank creditors. Strive to extend the existing bank's 5 billion 600 million yuan loan for one year, and ensure that interest is paid on time.
In addition, actively introducing strategic investors to enhance liquidity.
"The general situation of water horse is not optimistic now. I wonder if we can introduce the war throws in the end." Heng Jun technology related people told the China Securities Journal reporter.
Bring disaster to the fish in the moat
Since the beginning of the Spring Festival, the operation rate of water horse has been relatively low, and some factories have been shut down. In response to the Shenzhen Stock Exchange inquiry, JianRuiVoneng revealed that the company's orders were reduced and its inventory was large. Before the Spring Festival, all factories together could produce 3 million cores a day, and after the Spring Festival, only 600,000 cores a day.
Announcements show that as of the end of March 2018, the company's operating rate was only 20%. Some production subsidiaries suspended production, and the demand for materials decreased. The payment conditions of suppliers are more severe, and normal supply can be maintained under full payment conditions.
As the top three power battery in China