In recent months, enterprises in the Pearl River Delta have been deeper and deeper in the midst of suffering. While the macroeconomic side is relatively stable, the microscopic surface is not optimistic. The collapse of enterprises has begun to spread in various cities in the Pearl River Delta, and a new round of “closing tides†may appear.
Frequent news in Europe and the United States, exchange rate fluctuations, the rise of domestic raw materials, labor costs continue to rise, coupled with the tight supply of funds caused by macro-control, power cuts in some areas, the pressure of various stacks makes the business difficulties greatly deepened.
In this round of dilemma, the industry generally believes that smaller traditional labor-intensive companies bear the brunt. However, the reporter learned that even in the capital-intensive and technology-intensive "high-tech industries", enterprises are not good.
"This year's situation is indeed very serious, even worse than the financial tsunami in 2008." Zhang Jianmin is making a bowl of instant noodles in the office of an electronics factory at the Hongwu Technology Production Base of Pingnan Industrial Park, Zhongkai High-tech Zone, Huizhou City. Like a panda. As the deputy general manager of the company, he is very busy every day.
Zhang Jianmin has been an electronics factory for more than ten years. Since last year, he has been involved in the backlight industry, producing LCD screens and modules. The products are mainly exported to Europe and America, and Disney is also their customer. This is an industry that the government considers to be a “strategic emerging industry†and is sought after in many cities in the Pearl River Delta. However, Zhang Jianmin found that he had encountered problems soon after he entered the bank. The appreciation of the renminbi this year is very fast. For those who settled in US dollars, the profits that were not high were further reduced.
"In addition to the exchange rate, the rising cost of domestic production materials has further weakened profits." Zhang Jianmin's response is to replace foreign labor with a large number of foreign equipment.
In Dongguan, the LED industry encouraged by the government is not good. Some industry veterans pointed out that LED companies' R&D investment is too high, relying too much on government support, and the whole industry is not good in this year of insufficient liquidity. He revealed that the return period of large enterprises in the industry has been lengthened, and small enterprises do not need to mention that the tension of the capital chain is an industry-wide phenomenon. "The big reshuffle will soon begin."
In fact, in Shenzhen, the emergence has already appeared. Recently, Shenzhen LED leading enterprise Juduo Industrial Co., Ltd. was caught in a capital chain break, and the boss’s family disappeared, becoming the biggest bankruptcy case in Shenzhen this year.
The same dangerous situation appeared in Jiangmen. Wusong University associate professor Yuki Ryu introduced that although Jiangmen small and medium-sized LED enterprises have not seen the shutdown, they are basically “deadâ€, orders are down 20%, costs are rising by more than 20%, and almost 50% of corporate profits are falling.
Li Zhijia, the person in charge of the LED representative company of Jiangmen City, said that as the industry continues to mature, the gradual decline in profits is inevitable, and will gradually transition to small profits but quick turnover. "This is an inevitable law of economic development."
Previously, Zhen Mingli expects that the comprehensive results will be a loss until the end of September this year. The reasons include: European customers' orders are cautious, resulting in less-than-expected turnover; rising raw materials and labor costs, appreciation of the renminbi, lowering gross profit margins; worsening economic environment, increasing provision for bad debts due to accounts receivable; Depreciation expenses have increased significantly; a large amount of MOCVD investment, oversupply, resulting in fierce competition and a decline in gross profit margin.
Frequent news in Europe and the United States, exchange rate fluctuations, the rise of domestic raw materials, labor costs continue to rise, coupled with the tight supply of funds caused by macro-control, power cuts in some areas, the pressure of various stacks makes the business difficulties greatly deepened.
In this round of dilemma, the industry generally believes that smaller traditional labor-intensive companies bear the brunt. However, the reporter learned that even in the capital-intensive and technology-intensive "high-tech industries", enterprises are not good.
"This year's situation is indeed very serious, even worse than the financial tsunami in 2008." Zhang Jianmin is making a bowl of instant noodles in the office of an electronics factory at the Hongwu Technology Production Base of Pingnan Industrial Park, Zhongkai High-tech Zone, Huizhou City. Like a panda. As the deputy general manager of the company, he is very busy every day.
Zhang Jianmin has been an electronics factory for more than ten years. Since last year, he has been involved in the backlight industry, producing LCD screens and modules. The products are mainly exported to Europe and America, and Disney is also their customer. This is an industry that the government considers to be a “strategic emerging industry†and is sought after in many cities in the Pearl River Delta. However, Zhang Jianmin found that he had encountered problems soon after he entered the bank. The appreciation of the renminbi this year is very fast. For those who settled in US dollars, the profits that were not high were further reduced.
"In addition to the exchange rate, the rising cost of domestic production materials has further weakened profits." Zhang Jianmin's response is to replace foreign labor with a large number of foreign equipment.
In Dongguan, the LED industry encouraged by the government is not good. Some industry veterans pointed out that LED companies' R&D investment is too high, relying too much on government support, and the whole industry is not good in this year of insufficient liquidity. He revealed that the return period of large enterprises in the industry has been lengthened, and small enterprises do not need to mention that the tension of the capital chain is an industry-wide phenomenon. "The big reshuffle will soon begin."
In fact, in Shenzhen, the emergence has already appeared. Recently, Shenzhen LED leading enterprise Juduo Industrial Co., Ltd. was caught in a capital chain break, and the boss’s family disappeared, becoming the biggest bankruptcy case in Shenzhen this year.
The same dangerous situation appeared in Jiangmen. Wusong University associate professor Yuki Ryu introduced that although Jiangmen small and medium-sized LED enterprises have not seen the shutdown, they are basically “deadâ€, orders are down 20%, costs are rising by more than 20%, and almost 50% of corporate profits are falling.
Li Zhijia, the person in charge of the LED representative company of Jiangmen City, said that as the industry continues to mature, the gradual decline in profits is inevitable, and will gradually transition to small profits but quick turnover. "This is an inevitable law of economic development."
Previously, Zhen Mingli expects that the comprehensive results will be a loss until the end of September this year. The reasons include: European customers' orders are cautious, resulting in less-than-expected turnover; rising raw materials and labor costs, appreciation of the renminbi, lowering gross profit margins; worsening economic environment, increasing provision for bad debts due to accounts receivable; Depreciation expenses have increased significantly; a large amount of MOCVD investment, oversupply, resulting in fierce competition and a decline in gross profit margin.
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