Konka to the parent company Overseas Chinese city to borrow money

The Konka group, mired in cash, began reaching out to the parent company for money.　　Yesterday, Konka issued a notice, in order to ease the capital pressure, reduce the cost of capital, the parent company will launch three-year loan, the amount of 100 million yuan, the loan annual interest rate of 3.71%. The use of the loan, the industry generally believe that "11" before borrowing may be to rapidly expand production scale, prepare for the national Day market. China Electronic Chamber of Commerce under-Secretary-General Lu Xianbo pointed out that the amount of 100 million yuan for a listed company is a very small number, such a small number of the parent company to borrow, it can be seen that Konka group funds have been quite tense.　　Konka Group in the first half of this year, the annual report shows that Konka business generated cash flow from the first half of last year's 90 million yuan slipped to-1.96 million yuan. 2009, benefiting from home appliances to the countryside, with the old for new and other Huimin policy, most of the color TV companies turn a profit, and collectively to increase the sales target. However, the Furious price war launched by foreign capital not only quickly lowered the gross profit margin of color TV products, but also eroded the market share of domestic enterprises, which allowed domestic enterprises to accumulate large inventories.　　From the published annual report, Changhong, TCL capital pressure is not small.　　In addition to the entire industry recession, Konka itself also exist a lot of problems, 2009 TCL, Hisense Electrical gain pot overflowing, even the cap of the Xiamen-China net profit to achieve 100% growth, but Konka net profit fell nearly 50%. In the field of color TV competition must have two advantages, one is scale efficiency, first, reaction speed. The development of Konka in the past few years, the scale can not be compared with TCL, Skyworth and other enterprises, in response to the speed is rather lagging. When the color TV enterprise group to the liquid Crystal Era transformation, Konka also alone tired CRT field.　　The land edge Wave pointed out, the product localization is vague, the strategy is not clear, is the Konka in the new product development always lags behind the main reason. This July, Konka under the huge inventory pressure, began to seek diversified development, into the property sector and seek to strengthen the white electricity business.