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Chaowei was hacked

On November 13th, it was suspected that Zhou Mingming, the chairman of Chaowei Battery, had immigrated to Australia and had accumulated 73.8 million shares of Chaowei to raise funds and borrow 2.35 billion yuan in the stock market, facing the possibility of a collapse&hellip& Hellip; The news quickly spread in the battery industry.

In addition to the chairman's reduction of holdings and immigration, the news also pointed out that Chaowei has high enterprises, weak quality control of OEM factories, a fierce price war, and crazy advertising marketing. The data is detailed and seems to have considerable credibility.

According to the rumors, 21st Century Network called Yang Yuanling, the person in charge of media relations at Chaowei Power, to seek confirmation. Yang was quite excited over the phone and exclaimed that the rumors were absurd.

Chaowei Power is a listed company, and the chairman's reduction in holdings will inevitably be announced. Regarding the rumored 59.8% rate, Yang Yuanling stated that the company's asset ratio will inevitably have a safe red line, and Chaowei has sufficient funds.

According to the announcement of Chaowei Power on 21st Century Network, there was indeed no shareholder reduction notice. However, as the third quarter report has not yet been released, the specific information about Chaowei's bank lending and asset situation is still unknown. However, from the data in the semi annual report, the difference between the asset category and the rumored data is not significant.

The total assets of Chaowei Power are 6.164 billion yuan, with a total of 3.857 billion yuan, of which 3.804 billion yuan is current, with an asset ratio of 62.57%. The total amount of loans (including discounted bills) is 1.94 billion yuan (which must be repaid within one year), which was 1.25 billion yuan as of December 31, 2011. The net current assets are 136 million yuan, compared to 691 million yuan as of December 31, 2011.

This is not much different from Tianneng Power, another giant company in the industry (with total assets of 6.059 billion yuan and 3.349 billion yuan in the first half of the year, including short-term bank loans of 2.378 billion yuan).

When 21st Century asked about the OEM and repair rates of Super Power batteries, Yang Yuanling did not provide a specific response. She only stated that Super Power has formed a cooperative alliance with many companies in the industry, and the company's own technical strength has also been improved. It is developing towards the direction of internalization in accordance with relevant national policies and regulations, and there is no specific data on the repair rate.

However, according to an industry insider, there are multiple battery companies outsourcing to Changxing, the headquarters of Chaowei.

A person who has worked at Chaowei told 21st Century Network that the management of the newly opened branch cannot keep up, and the quality is indeed not as good as before.

In the semi annual report of Chaowei Power, it was also stated that during this period, the Gross margin decreased from 30.2% to 27.1% due to more Original equipment manufacturer production arrangements than the same period in 2011.

In the entire rumor, the most ridiculous thing for Yang Yuanling is the advertising expenses of 8.9 billion yuan on major satellite TV stations. This is simply ridiculous. If there were indeed 890 million yuan, then there would be super powerful advertisements everywhere in the country, and the advertising expenses would be reflected in the company's financial reports, and the specific amount would be known at a glance.

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