In the tens of billions of melee battles, NIO wins the "beauty"?

On the first day of the New Year in 2022, Langfang Wantai Composite Materials Co., Ltd. changed owners. Langfang Feize Composite Materials Technology Co., Ltd. served as the strategic investor in the bankruptcy and reorganization of Kangde Composite Materials Co., Ltd. Officially surfaced and became the controlling shareholder of Wantai Composite Materials, which holds 51 shares after reorganization.

The actual controller of Feize Composite Materials, after layer-by-layer penetration, is none other than Li Bin, the actual controller of Weilai Automobile.

Kangde Composite Materials’ bankruptcy and reorganization plan shows that the company’s claims declared total 13,264,540,476.01 yuan, including some claims to be confirmed. Tens of billions of claims have been involved in multiple rounds of melee in this major bankruptcy case.

In November 2019, Weilai took the lead in conducting a judicial auction of Kangde Composite Materials assets. Later, state-owned creditors and small shareholders raised objections to the court, and the auction assets included the assets of the state-owned leasing company. equipment, the auction was suspended.

At the beginning of 2020, CITIC Securities Co., Ltd., a creditor led by Minsheng Bank, applied for judicial auction of almost all of Kangde Composites on the grounds that Kangde Group, Kangde Composite Materials, and China Anxin did not implement the arbitration case. Land, Plant and Equipment.

In order to prevent the company’s core assets from being divided up, other creditors represented by Weilai finally successfully protected Kangde Composite Materials’ assets through bankruptcy reorganization.

On June 23, 2020, the court officially accepted the judicial bankruptcy reorganization of Kangde Composite Materials. Under the Bankruptcy Law, execution of a bankrupt and reorganized company is automatically suspended.

On July 2, 2021, Kangde Composite Materials’ bankruptcy and reorganization strategic investor qualification was sold at a price of 359 million. You must know that according to the rules, 359 million is the overall valuation of Kangde Composite Materials' sale-type reorganization. Strategic investors only need to invest at 51, or 180 million, to obtain the "New Kangde Composite Materials" after the reorganization. , that is, the controlling stake of "Wantai Composite Materials" 51. The creditors of Lao Kangde Composite Materials and other shareholders except Kangde Group will share the remaining 49 shares in proportion.

With the change of shareholders of Wantai Composite Materials, the person who spent 180 million to win the "New Kangde Composite Materials" was Langfang Feize who stepped forward when Kangde Composite Materials was in crisis. —A company controlled by NIO Li Bin directly took over the production and operation of Kangde Composite Materials, and eventually took control of this carbon fiber asset.

With the complete collapse of the Kangde Group, the listed company Kangdexin also withdrew from the A-share market amid huge controversy. Kangdexin originally held 2 billion shares of Kangde Carbon Valley and 1.444% of Kangde Composite Materials (with an investment of 90 million), and invested in the construction of carbon fiber R&D centers overseas.

Carbon fiber has become the biggest gimmick in the last glorious period of the Kangde empire, and it is also an important psychological support for many investors to stick to Kangde New. However, with the direct delisting of Kangde Carbon Valley and the bankruptcy and reorganization of Kangde Composite Materials, its equity was severely diluted, and Kangde Xin’s presence in the carbon fiber field has almost been reduced to zero.

Kangdexin, which is undergoing bankruptcy and reorganization, may only have optical films with window films as its core chips. As for who this film will end up with, perhaps only time can tell the answer.

New energy has become a long-term trend in the future, and it may not be a blessing for NIO to have carbon fiber as its target. In the torrent of capital, it is always the weak and the strong, and the winner is king.