At 10:00 on June 29, Konka Group successfully acquired 100% of the shares of Xinfei Electric Appliances, Xinfei Home Appliances and Xinfei Refrigeration Appliances at a transaction price of 455 million yuan. At this point, the previous conjecture about the old brand of Xinfei home appliances "whose home" has been settled.

The "Electrical Appliance" reporter learned that on May 18, the second creditors' meeting of Xinfei reorganization voted to pass the draft reorganization plan; On May 21, the Xinxiang Intermediate People's Court ruled to approve the reorganization plan and announced the auction plan. According to the auction information, from 10:00 on June 28, 2018 to 10:00 on June 29, 2018, all the equity of Xinfei Electric Appliances, Xinfei Home Appliances and Xinfei Refrigeration Appliances will be auctioned publicly at the Intermediate People's Court of Xinxiang City, Henan Province (Taobao Judicial Auction Network Platform), while some of the land, real estate and buildings under the name of Xinfei Company will start auctioning on July 5. Among them, the starting price of the auction of 100% equity of Xinfei Company is 450 million yuan, the deposit is 100 million yuan, and the increase in price is not less than 5 million yuan, while the starting price of land, real estate and buildings under the name of Xinfei Electric is 115 million yuan, with a deposit of 20 million yuan and a price increase of not less than 5 million yuan.

The reporter found through the list of assets in today's auction that the scope of Konka's acquisition includes Xinfei's trademarks, patents, intellectual property rights, as well as fixed assets such as land, plant and production equipment. Konka Group insiders revealed to reporters that the acquisition does not involve employees and debts, and the divestiture of this part will help the company to "lighten up" after the acquisition.

For the operation plan after the acquisition, the relevant person in charge of Konka Group privately told reporters that first of all, in terms of production, this acquisition is of great help to Konka White Electric, especially the production capacity supplement of refrigerators, and the production layout will be done next; Secondly, in terms of brand, Xinfei once knew the brand for The country, and there is still a lot of "residual temperature" in brand awareness and influence, and it will carry out better operation and planning for this brand in the future; Finally, in terms of channels, Xinfei still has a strong appeal to channel dealers in the regional market, and Konka White Electric will borrow in this part.

The reporter noted that Zhou Bin, president of Konka Group, also said in an interview with the media that although Xinfei Electric Appliances has fallen into development difficulties due to various reasons in recent years, the research and development capabilities and product lines of high-end products such as large volume, air cooling, and frequency conversion are at the domestic advanced level, and the research and development and manufacturing capabilities of Xinfei freezers are also very competitive. Moreover, Xinfei has a complete product line, high brand awareness in the industry, ranked 6th in the market share industry in 2017, and its brand value, research and development capabilities, production capacity equipment, talent team, etc. are all attractive to Konka White Electric, which is in a period of rapid development. The most direct embodiment of this acquisition, on the one hand, is to rapidly expand the industrial scale of Konka in the field of white electricity, realize the pattern of "Konka + Xinfei" dual brand synergy on the brand, make its white electricity business bigger and stronger, enhance profitability, and through the bidding and reorganization of Xinfei, it can not only enrich its own product sequence, but also lay the foundation for the overall ecology of the layout of smart homes. At the same time, through Konka's own good background of central enterprises, strong financial advantages and output of advanced management and talents, through the promotion of cultural integration and strategic matching, the new flying brand has taken off again and the development and growth of the national brand has been realized.

Excerpt from: Electrical Magazine Electrical Micro-Journal