The bankruptcy liquidation of the former lithium power giant was accepted with a debt of 19.7 billion.

SMM11 12: on the evening of November 13, Jianrui Woneng issued a notice saying that on November 7, 2019, the Shenzhen Intermediate people's Court decided to accept Huang Ziting's application for bankruptcy liquidation of Shenzhen Watma Battery Co., Ltd. After a preliminary investigation by the Shenzhen Intermediate people's Court: Shenzhen Waterma Battery Co., Ltd. is still in operation, the existing staff of more than 800 people, foreign debt of about 19.7 billion yuan, of which the debt owed to 559 suppliers is about 5.4 billion yuan. The company's existing assets are located in Shenzhen Shiping Mountain District Kengzi Street construction land (59030.15 square meters) as well as foreign equity investment, vehicles, inventory, machinery and equipment, accounts receivable and so on.

Kenrivoneng said that if the people's court ruled that Watma entered bankruptcy liquidation proceedings, it would have a positive impact on the resolution of the debt crisis currently facing the company. Up to now, the company and the manager have not received the order and other legal documents of the Shenzhen Intermediate Court, and the manager will fulfill the information disclosure obligation in a timely manner according to the relevant legal documents and progress of the matter.

Headquartered in Shenzhen, China, Shenzhen Waterma Battery Co., Ltd. is one of the first domestic enterprises to successfully develop new energy vehicle power batteries and take the lead in large-scale production and batch application, ranking in the top three power batteries in China. Its power battery has accounted for about 20% of the market share in the 25 new energy vehicle promotion and demonstration cities in China.

After entering 2018, Kenrivoneng was caught in a debt whirlpool. In April 2018, Jian Rui Woneng issued an announcement that the company had overdue debts, with overdue debts of 1.998 billion yuan, mainly notes payable and bank loans, facing claims from creditors, and the company faced debt repayment risks, which had an impact on day-to-day operations. The financial problems of Kenrivoneng are becoming more and more public.

Although there is little hope that Kenrivor will be reborn, he is still actively looking for new opportunities.

In the face of business difficulties, Jian Ruiwo can begin to seek strategic cooperation or negotiations in many ways, trying to save themselves. On April 18, Jianrui Warner announced that it had signed an "Investment Cooperation Framework Agreement" with Jiangsu Huacheng Investment Management Co., Ltd. (Jiangsu Huazhou) to jointly launch a joint venture to help Hunan Waterma New Energy Co., Ltd., a subsidiary of wholly owned subsidiary Shenzhen Waterma Battery Co., Ltd., resume production. On September 26, it went on to announce that its subsidiary Inner Mongolia Anding New Energy Co., Ltd. (hereinafter referred to as "Inner Mongolia Anding") recently signed a "supply Cooperation Agreement" with Huzhou Fast Donkey Technology Co., Ltd. (hereinafter referred to as "Huzhou Fast Donkey"). Inner Mongolia Anding supplies it with a product model of 32650, promising a cumulative supply of no more than 3 million donkeys to Huzhou in 2019.

In addition to seeking the electric car market, Ji Rui Woneng is also targeting China Tower Co., Ltd.'s demand for energy storage batteries.

On September 23, Jianrui Warner announced that it had signed a "Strategic Cooperation Framework Agreement" with Aerospace Burke (Guangdong) Technology Co., Ltd. ("Aerospace Burke"). The two sides will cooperate on the supply of the project and related commercial matters of China Iron Tower Co., Ltd., for a period of five years.

It is worth noting that the agreements signed with "Jiangsu Huazhou" and "Aerospace Burke" are only framework agreements, only to express the preliminary willingness to cooperate and the results of negotiations. In fact, the implementation of the specific contract is still on paper.

In view of the progress of cooperation with Huzhou Fast Donkey, some media contacted a manager surnamed Liu of Huzhou Fast Donkey, who said that the lithium battery industry involved in Huzhou Fast Donkey is mainly aimed at the high-end market. He said he was not aware of the cooperation with Anding in Inner Mongolia.

According to industrial and commercial information, Inner Mongolia Anding was established on July 18, 2019, the supply contract "cooperation period" is "August 1, 2019 to July 31, 2020." For a company less than half a month old, getting a big contract order was good news, and it was not announced until September 25, which was delayed by at least 55 days.

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