Shanghai Shuangqin Group Co., Ltd. and Michelin have ended their marriages for more than eight years. The two sides paid nearly 1 billion yuan for this marriage. Not only that, the 62-year-old autonomous tire brand and the “Shanghai famous brand†will likely become the “special brand†of the foreign-owned company Michelin. The so-called "special brand" means that, except Michelin, other people, including the owner of the brand, are not entitled to use it. Michelin wants to own On July 17, 2009, Shuangqin Co., Ltd. announced that since the joint venture company Shanghai Michelin Warrior Tire Co., Ltd. has continuously suffered huge losses over the years, the company plans to transfer 28.49% of the shares of Michelin Warriors, which is owned by the company. The 1.5% shares held by Minhang United Development Co., Ltd. will also be sold at the same time). The board of directors has passed the relevant proposals on the above transfer. It is understood that the original "Shanghai famous brand" automobile tire brand created by Shanghai Zhengtai Rubber Factory in 1947 will be used by Michelin sole-owned enterprises and become a sub-brand under Michelin. The dual money shares may only get some trademark fees and service fees. Recently, the property rights owner of the Huili brand—Shuang Qiang's directorate office told the Morning Post reporter that the ownership of the use rights and ownership of the Huali brand in the future is still being negotiated, but Michelin confirmed to the reporter that after the two companies broke up, Shanghai Michelin Warrior Tyre Co., Ltd. (hereinafter referred to as SMWT) has the exclusive right to use Warrior brand. Established on March 22, 2001, SMWT is an unlisted Sino-foreign joint venture company established in Shanghai. At present, Shuangqian’s shareholding ratio is 28.49%. The business scope of the joint venture company involves manufacturing, processing and sales of high-grade radial tires, tire-related steel wires, and other tire-related products, and provides related services. As of March 31 this year, the net assets of the joint venture company was -734 million yuan. After the asset evaluation, the owner's equity was initially recognized as 416 million yuan. The announcement of the Double Money Shares will be listed on the Shanghai United Assets and Equity Exchange at a higher price than the evaluated investment interest. Michelin then issued a statement expressing its willingness to purchase the above-mentioned sale shares. Such as Michelin wishful thinking, SMWT will become Michelin's another wholly-owned tire company in China. In 2003, Michelin bought a 10% stake in the Shenyang joint venture through the purchase of the original Chinese partner. Michelin Shenyang Tire Co., Ltd. thus became a Michelin-owned company. Loss actually grows with revenue Regarding the reasons for the transfer of equity, Shuangqin said that it took into consideration the continuous huge losses of the joint venture company over the years, and at the same time, combined with the adjustment of the company’s own product structure and the need to improve profitability, it decided to transfer the equity held by the company. In fact, Michelin has long been guilty of double money. As early as last year, Shuang Qiang came up with the news that it was necessary to recoup its own brand and make its own radial tire. Before this, Michelin also gradually went to the low end through products such as price cuts, while the Pull back brand tires had price increases, and the two brands had a conflict in the market. Industry insiders once believed that Michelin was preparing for breaking up. Prior to this, Michelin was positioned as a high-end brand and was positioned as a low-end brand. Shuang Qiang's 2008 annual report shows that since the establishment of SMWT eight years ago, the cumulative loss reached 872 million yuan. The quarterly report this year showed that the first-quarter loss increased by 70.06 million yuan year-on-year. This also means that as of the end of the first quarter of this year, the cumulative loss of SMWT exceeded 1 billion yuan. The loss of SMWT can be described as increasing year after year. Among them, the loss in 2008 reached 235 million yuan. After the parent company waived its debt, the loss still reached 115 million yuan. Although the operation was not very good, Michelin Shanghai had previously proposed to increase capital to 2 billion yuan. If tire rubber (predecessor of double-money shares) cannot be invested simultaneously, the stake in the joint venture company will be diluted; in addition, the company’s foreign personnel Many, the labor costs have remained high. An insider of Shuangqin shares once stated that the loss of SMWT for consecutive years may be intentional by the foreign party. Michelin told reporters that the statement “deliberately suffers losses†is a speculation that is not based on facts. In the past eight years, Michelin has brought the industry and the best technology to the company to achieve its sustainable development in Shanghai, and has increased its production capacity and performance. Michelin invested a total of more than 2 million US dollars for plant upgrades. Since 2002, the company’s turnover has increased by 98% and its annual growth rate has reached 12%. Why did the growth rate and loss of high revenue increase year after year? Michelin did not explain this in his reply to the reporter yesterday. Double money into the car tires blocked For Michelin and Double Money, whoever loses power is a big loss. Michelin loses its brand back to power, its multi-brand strategy will be affected; double-money shares will lose their power, and their pace of entering the tires of cars will also slow down. It is reported that the first phase of Chongqing Base, which is currently being built by Shuangqin, will form an annual production capacity of 1 million all-steel radial tires, and will gradually form an annual output of 4 million all-steel radial tires and 15 million semi-steel radial tires. And the production scale of 20 million motorcycle tires. A few days ago, Shuang Qiang, a secretary of the Board of Directors who declined to be named, told reporters that all issues relating to the Pull Back brand are still in negotiation. Michelin, on the other hand, replied to the reporter with certainty that upon confirmation by both parties, SMWT had exclusive rights to use the Pull Back brand. Analysis of the industry, this is likely to mean that Michelin will continue to pay trademark fees and service fees for double-money shares, and thus continue to use the return brand. Previously, SMWT paid back 30 million yuan each year for the use of back-tag fees and service fees. People in the industry are concerned that, in addition to renting, is double money still being considered for sale? Glass Panel Clamp,Glass Spider Fitting,Glass Holding Clips Seger Industrial Co., Ltd. , http://www.qddiecastings.com