TD Chip manufacturers Kaiming capital chain broken employees 3 months unpaid wages

Source: Internet
Author: User
Keywords TD Chip capital chain Yu Yushu
April 24 Morning News, in response to media reports "TD chip manufacturers Kaiming terminated operation", Kaiming CEO Yu Yushu confirmed that the company does not have follow-up funds to enter, the capital chain rupture, but did not declare termination of operation.  Yu Yushu revealed that employees have not paid for three consecutive months. Founded in February 2002, Kaiming is currently one of the five leading TD-SCDMA chip manufacturers. First by the China Putian, Datang Telecom, Nokia, Texas Instruments, LG Electronics, such as 17 joint contributions of the company. Among 17 members, domestic enterprises accounted for 9, and 8 foreign enterprises. Foreign capital accounts for 68.76%, while China accounts for 31.24%.  Putian, Texas Instruments, Nokia and other accounting for the total capital of 13.5%, the total share capital of 233.35 million yuan.  Yu Yushu said that at present management and shareholders are making a final effort to seek funds to revive the company. For the company's staff, Yu Yushu denied that "the company asked all employees to resign voluntarily within 4 working days." and stressed that "the company's prospects are still good, willing to stay in the staff, may be the short-term days will be a bit bitter, and hope to leave, the company also strive to help us actively find a way out." "There has been disagreement among major shareholders since the end of last year on whether to continue injecting capital into the kaiming," insiders said.  Nokia is in favour of further capital raising, while another shareholder, Texas Instruments, simply refuses to inject capital, and Chinese shareholders Datang Telecom and China's Putian are ambiguous, and the capital increase plan goes bankrupt. From this year onwards, Kaiming began to seek venture capital in order to resolve the dilemma of the capital chain as soon as possible. Among them, kaiming mainly with an Israeli venture in the negotiations, and ultimately the wind is not too optimistic about TD-SCDMA's current prospects for bankruptcy.  However, the above financing statement has not been confirmed by Yu Yushu.  Kaiming's capital chain rupture highlights the predicament of the current domestic TD-SCDMA industry. Since 2002, a number of Chinese and foreign telecommunications equipment companies have scrambled to set up joint ventures into the TD-SCDMA industry market. Among them, kaiming, the T3G, by Datang Mobile, Philips, Samsung Electronics and Motorola joint ventures and the main exhibition, in addition, Huawei and Siemens also have a joint venture company Ding Bridge into the TD System equipment research and development. With the continuous postponement of China's 3G start-up, a lot of research and development investment can not be rewarded, which undoubtedly becomes the inducement of kaiming capital chain rupture. Continuation: Shareholder wrangling kaiming in crisis leadership and victim. China's first communications portal author: Yu Yi Wan has a TD chip enterprise has come to the brink of bankruptcy, which is a few days ago, "the father of TD-SCDMA" original Datang Mobile chief scientist Li Shihe a word, did not think, News of the kaiming company defaulting on its employees ' wages and ending its operation by the end of April has spread today. According to media reports, yesterday afternoon, Kaiming CEO Yu Yushu convened an emergency staff meeting, requiring all employees to resign within 4 working days, the company began to stop operating since the end of April. C114 also interviewed Kaiming insiders. "That is roughly the case.Has owed us three months wages, many engineers now after the Spring Festival travel expenses are their own advance, heard, together with wages and travel expenses may not be able to get the cash, to IOU. "It is reported that Kaiming has more than 200 employees, and now the salary owed to employees is estimated at more than 10 million." "Once the company is declared bankrupt, our health insurance and social security accounts are estimated to be deactivated." Now the company put forward to let employees resign voluntarily, but everyone knows that their resignation and corporate bankruptcy compensation is a different thing, but, I heard, if you do not take the initiative, even white stripes are not. The kaiming employees said. Asked what caused Kaiming to be so down, the employee said: "It is because there are too many shareholders, and no one is doing it." "February 2002 Kaiming, is by China Putian, Telecommunications Science and Technology Research Institute, Texas Instruments China, Nokia (China) Investment Limited, LG Electronics Co., Ltd., 17 companies jointly funded by the total capital of 233.35 million yuan. Precisely because such shareholder structure has caused kaiming today's decision-making disadvantage, and, foreign shareholders did not focus on TD-SCDMA, so, in the reinvestment of shareholders did not reach the company, and Kaiming to introduce venture capital is also very bumpy road. "In fact, give us another 500,000, we may be over this." At present, kaiming HSDPA research and development is the most forward, this is precisely in line with the requirements of China Mobile, if we give us 20 days, we will be able to get the HSDPA network card, can get through this, unfortunately, no one shareholder is willing to pull us. "As this person said, kaiming in the HSDPA chip research and development in the forefront, to achieve HSDPA and edge of the two-mode, and now another can do HSDPA chip manufacturers can only achieve single-mode." "To tell the truth, the leadership is also the victims, and yesterday, the leaders of several departments are red." "It's so hard to do TD-SCDMA, and it's too hard," Kaiming said, "We've been working for almost 24 hours last year, and we'd like to stick to the last minute." "However, no one knows what the situation is waiting for kaiming staff today, C114 will continue to focus on the development of events."
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