Things are very simple.

According to the announcement of Shencheng Phoenix Bicycle Company, in 2016, Shencheng Phoenix Bicycle signed a "Bicycle Procurement Framework Agreement" with For.

The agreement stipulates that for will provide Phoenix Bicycle with a total purchase plan of no less than 5 million vehicles within 12 months, but from the actual situation, Shencheng Phoenix only provided ofo with 1.86 million vehicles, and the actual transaction expected between the two parties was less than 40%.

I will take out a loan to help you build a bicycle, but will you not purchase the rest?

The lawsuit requires For to pay a loan of 68.15 million yuan, a default fee of 1.86 million yuan, and the plaintiff's attorney's fees and guarantee fees of about 200,000 yuan, totaling more than 70 million yuan.

What’s more serious is that it is not only Shencheng Phoenix, a company that has financial disputes with For.

After Phoenix, other travel industry-related companies immediately came out to ask for the debt. If we don’t care about other people’s homes, you should return the money you owed me first.

Good guy, if all these money is real, then for that is not owed five or six billion.

Didn’t For raise hundreds of billions of dollars?

Why did you lose money so soon?

Some well-informed people in the industry revealed that For's working capital was used to refund the deposit to users.

They tried to calm the market panic in this way.

It's okay, our financial situation is very good. You see, we have refunded the deposit you want to refund as much as possible.

What jealous capitals are spreading rumors?

The purpose of misappropriating funds to refund the deposit has indeed been achieved.

On the day when Wukong Bicycle burst, there were as many as 127,040 single-day debt declaration applications. After several days of "slapping the fat man in the face", he returned as much as he came. The deposit refund storm was finally suppressed.

Other bicycle sharing brands have basically adopted the same approach.

It's almost time to get over the difficulties.

But something like this suddenly happened.

Anyone with a discerning eye knows that the storm in this industry is inevitable.

In the second half of 2016, capital poured into the shared bicycle field like a tide. At the craziest time, there was an average of over 100 million yuan in funds every day. There were new brands appearing almost every month, with colorful colors.

There are nearly 70 shared bicycle companies in the market, with a total of more than 16 million vehicles deployed and more than 130 million registered users.

Lin Dong refreshed the news page and Miaomiao hot searches. Sure enough, he found that many news and users said that the deposit could no longer be refunded as soon as possible.

Some brands' deposit refund buttons have even turned gray.

This is not fatal.

What makes the entire industry desperate is that employees of a bicycle brand broke the news online: their CEO has resigned, 99% of their employees have been laid off, and the actual controller has lost contact.

Someone else publicly revealed that a bicycle owed 24 million yuan of deposits from 120,000 users, plus the salary of other employees was 1.6 million yuan, and the supplier's debt was 19.2 million yuan, a total of more than 45 million yuan, while the company only had 350,000 yuan in its account.

In desperation, he had to entrust the "Huaxia Renewable Resources Development Company" to recycle the bicycles, which agreed to recycle them at a price of 12 yuan per car.

What is really finalized is that the Ministry of Transport issued a "Management Measures" in the evening, clarifying that operating companies are not allowed to misappropriate user deposits, and have made regulations on the deposit and advance payment amount, and the deposit shall not exceed 10% of the bicycle cost.

Even Guo Jia came forward.

No one can hide the problems in this industry.

However, it is obvious that it is too late. Most shared bicycle brands, no, should be said to be all shared bicycle brands, and they do not have the ability to repay all deposits in their accounts.

On the day when the Shencheng International Film Festival began, Chuncheng Bicycle admitted that its capital chain was broken.

In the afternoon, Xiaobai Bicycle publicly sought a takeover.

3vbike declared bankruptcy directly.

There are rumors that even worship and for, known as the two heroes of shared bicycles, are difficult to find financing.

The fund practitioner who broke the news said that yesterday, For President David rejected the valuation of their fund. The specific amount was unclear, but it was definitely lower than the round before the Cat Factory ditched its investment a few months ago.

And today, David gritted his teeth and recognized the valuation.

Unfortunately, their fund has given up its intention to enter shared bicycles.

In the entire capital circle, the two most frequent words appear in the past few days, one is shared bicycles and the other is thunder.

Boss Lin was in a heavy mood and refused to leave the arranged red carpet.

Such a big thing happened in the Internet investment circle, and Cat Factory is also one of the participants, and the organizing committee is very able to understand him.

Some well-informed entertainment industry people can also see the clues.

If he hadn't publicly admitted his identity as a cat owner, someone would have called him to make him feel guilty and change.

But they all got it wrong.

Lin Dong’s sadness is sadness, but it is different from what everyone thinks.

Everyone thought he was sad for the cat factory to not completely withdraw from this industry.

In fact, he was heartbroken because he was unable to catch up with this huge amount of money because he withdrew.

From For and Yubai to withdraw funds, he earned 83 billion yuan, removed all costs and rewards, and fell into his hands for sixty or seventy.

Once he had not withdrawn his investment before, all the money would be poured into it.

Yes, it all went in.

Even if Boss Lin is a novice in the investment circle and knows nothing about economics, he can still see what is going on in this industry and what will happen soon.

No one can escape unstoppable.

Nine out of ten deaths are alive.

What a great opportunity, I will never know if I can still encounter such an opportunity in my life.

The reason why there are nine out of ten deaths is because there is still a glimmer of hope here.

Some want to escape, but others don't.

Whether capital makes profits or not, they want markets and ecology, so they will be the last ones who are willing to take over.

Of course, this takeover is not costless.

First of all, the valuation. Take Xibai for example. A few months ago, the round when the Cat Factory withdrew, the valuation was close to $3 billion.

And this time the valuation is unlikely to exceed 3 billion.

If you remove more than one billion US dollars of debt, you will be able to save even less money in the hands of a group of original shareholders. If you can get one billion US dollars, it will be considered a waste of money.

As time goes by, the later the action is, the lower the valuation will be.

The key is whether Hu Wei and David are willing to leave their arms behind to survive.

In fact, in just one or two years, if they are willing to retire with a huge sum of more than one billion yuan, they will be successful people.

What is scary is greed and luck.

Lin Dong now wants to notify Pei Qianlong to take over for and worship.

The higher the offer, the better.

Unfortunately, the system does not allow it.

This industry has collapsed, and you have to get in with a strong head, which is unreasonable.

After all, the evacuation was too clean at that time, and there was no room for For and Epher. Even if you wanted to go in and save the situation, no one believed you.

Fortunately, Pei Qianlong was asked to buy back a part of the shares that he had.

I don't know if he has finished it.
Chapter completed!