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Jinli was established on September 16, 2002, and the founder is Liu Lirong, chairman of Jinli Group. In the era of functional machines, Jinli mobile phone was once the dominant mobile phone in China. From 2003 to 2007, Jin Li’s share in the Chinese functional machine market was second only to Nokia and Samsung.
With the rise of smartphones, the rise of brands such as Huawei and Xiaomi has caused Jin Li to gradually lose its share of the domestic market. Although Jin Li has also tried to increase his exposure by inviting younger idols, famous “Swordsman”, “Happy Comedy” and other well-known variety shows and other marketing techniques, the market response is not satisfactory.
Behind the scenery of Jinli, some hidden worries gradually surfaced. Since 2018, Jinli Group has been exposed to a capital chain crisis. The report said that the fuse that Jin Li fell down was Liu Lirong’s gambling, which accelerated the break of the capital chain and the speed of bankruptcy.
On December 17, 2018, the Shenzhen court officially ruled that the Jinli Group went bankrupt. On April 2, 2019, the Shenzhen Intermediate People’s Court held the first creditor meeting on Shenzhen Jinli Communication Equipment Co., Ltd., and reported the investigation and future arrangements of the administrator after he entered Jinli. The meeting announced that as of March 21, 2019, a total of 558 creditors were notified to declare their claims, and a total of 372 were declared. After review by the administrator, 324 claims have been initially identified and incorporated into the “Debt Table”, and the total amount of claims is 17.355 billion yuan (including foreign currency claims). As of December 31, 2018, Jinli’s total book assets were approximately 8.538 billion yuan, and the total assets after the inventory were approximately 3.839 billion yuan. Obviously, Jinli’s assets are not enough to pay off debts. The generation of mobile phone giants ended up in such a way that people are embarrassed. No.