17 years ago, Feidong Lighting has always been a cash cow in East China Science and Technology. In July last year, when Feidong Lighting contributed RMB 2.5 million to Huadong Science and Technology's annual investment income of RMB 2.5 million, Huadong Technology transferred its 29.9% stake in Feidong Lighting to Philips. In this regard, the explanation given by the senior executives of East China is to slim down and concentrate on developing their own main business. The move by East China Science and Technology seems to be quite prescient. Because when the Wall Street financial crisis began to erode the global real economy this year, Huadong Technology no longer has to worry about its own scattered main business, and can spend this winter relatively safely.
In the current Yangtze River Delta region, many companies, like Huadong Science and Technology, are formulating or implementing their own slimming plans to achieve the goal of slimming and strong physical winter. For example, according to the Jiangsu Economic News, Shanghai Electric (Group) Corporation is expected to divest 282 companies this year, China Shaoxing Rice Wine Group will also spin off the spandex business, and dozens of state-owned enterprises in Shanghai are clearly defined as the main business scope. In the current Yangtze River Delta region, there has been a wave of corporate slimming. The slimming of enterprises can be interpreted as the need of their own development. However, under the current macroeconomic situation, the company is still seeking self-insurance.
Of course, this kind of philanthropy of slimming companies is also due to the needs of their own development. The so-called stay in the green hills, not afraid of no firewood. When companies are frustrated in profitability, avoiding harm is the best option. Before the financial tsunami triggered by the subprime mortgage crisis in the United States, the economic growth rate of various economic powers or organizations around the world has already declined. The occurrence of the Wall Street earthquake has declared the official arrival of global capital winter, which is also the opening. The last layer of the global economic recession. At this time, domestic enterprises are actively taking self-protection measures, which is undoubtedly a wise move.
This year, China's small and medium-sized enterprises have encountered unprecedented difficulties in their development. Some media reports revealed that in the first half of this year, more than 60,000 SMEs in the country have gone bankrupt. The large amount of bankruptcy of small and medium-sized enterprises can be said that there has been a wave of bankruptcy before the slimming tide, and this bankruptcy tide may even last for a while. In the lighting industry, the situation is not very optimistic. As far as the Guangdong region is concerned, the Yangcheng Evening News reported in July that in the first half of this year, three or four thousand lighting companies in Guangdong closed down or temporarily closed their doors. In addition to the rising prices of raw materials and the increase in labor costs, the impact of the US subprime mortgage crisis is also an important factor.
As the ancients said: see a leaf fall, and know the age will be smashed; smash the ice of a pot, and know the cold of the world. The industry has experienced the pain of bankruptcy, and it is bound to take the initiative to protect itself. So to a certain extent, the enterprise slimming tide that emerged under the global financial crisis can be said to be the product of the bankruptcy tide, but the slimming tide can also be regarded as the terminator of the bankruptcy tide. Because bankruptcy will alert the industry, and slimming will allow companies to save themselves.
At present, the slimming tide of the Yangtze River Delta enterprises is reflected in the business of the company, mainly the return to the main business. Before slimming down, most companies adopted a diversified development strategy. However, the current economic situation makes these companies' implementation of diversified development methods seem to be incapable. Therefore, it is imperative to reduce the competitiveness of enterprises by returning to the main business. To enhance the competitiveness and profitability of the company.
Lighting companies and other industries are living under the same sky. Although the industries are different, the environment is basically similar. The slimming model of the Yangtze River Delta enterprises returning to the main business is not only applicable but also feasible for lighting companies in the same economic environment. In the first half of the year, Foshan Lighting, which had a huge loss of 117 million yuan in stock trading, decided to re-establish its main business, which is a good illustration of the need for slimming. After the reorganization, Philips, in the third quarter, when the company’s sales fell 2% year-on-year, The operating profit of the Lighting Products Division increased by 3.2% to 196 million Euros. This shows that even if the current economic situation is very uncertain, the profitability of the lighting companies after slimming can be further improved.
Necessary and can increase profit margins, lighting companies in this winter, it seems necessary to lose weight.
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