Chapter 767: Under the Iron Fist
In addition, companies such as Hyundai Motor and S0M, which were educated by Han Xing Electronics in the past, were also confused.
While he was being beaten, why was he suddenly punched twice by Iron Fist?
“As a member of the Jiuzhou Alliance, our company solemnly informs your company that after the current order ends, the supply of raw materials for the next quarter’s orders will be temporarily stopped due to insufficient factory capacity and process improvements.
According to the new contract signed last year, due to this reason, our company will compensate you for 200% of the deposit. Since your company chose a low deposit contract when signing a new contract with our company, our company will pay the compensation within seven working days after the supply is actually delayed in the next quarter. "
The head of Hyundai Group is called Zheng Xuanyi. Of course, it belongs to the traditional Korean inheritance from father to son. He has been personally leading the layout of Hyundai Motor in the fields of electrification and autonomous driving. In the past few years, his life was pretty good, but these years have changed. With the strong rise of Daxia's car companies, Hyundai Group's automobile business and heavy industry business are getting worse quarter by quarter.
But a skinny camel is bigger than a horse. Even if the business has declined in recent years, the total number is still very impressive.
For example, in the fourth quarter of 2021, Hyundai Motor sold a total of 960,600 vehicles, down 15.7% from the same period in 2010. Retail sales in the Daxia market also fell by 23.3% year-on-year, a far cry from the target of 560,000 vehicles set at the beginning of the year. Even in the fourth quarter, sales were only 87,000 vehicles, a year-on-year decline of 42.9%.
Now, let alone selling Hyundai Motor, raw material problems after the next quarter have become a big problem.
It's hard for a good woman to make a meal without rice. After Zheng Xuanyi learned the news, he immediately put aside his dignity and took the initiative to contact these Daxia suppliers. He added money, signed long-term contracts, said all kinds of good things, and even hinted that Hyundai Group would have big returns. He was also attracted by these 'sudden sheep' Crazy Daxia suppliers refused.
"I'm sorry, President Zheng. It's not that our company is deliberately making things difficult for your company, but the technical upgrade in the factory requires us to spare some time."
This is relatively tactful, but some are blunt: "A cooperative company has already decided on all our future material production capacity, and your company has a lower priority than that company, so I'm sorry."
Who wants to hear someone say "sorry" to themselves these days?
As the head of Hyundai Group, Zheng Xuanyi didn't know the implication of these people, that is, the boss of Jiuzhou Technology was angry, and their younger brothers had to listen to the boss's words.
Hyundai Group can only be regarded as an innocent victim, and the real core contradiction lies with Hanxing Electronics.
"Li Zairong really offended Jiuzhou Technology to death, allowing that guy Gu Qing to target us like this."
While thinking about it, Hyundai Group still couldn't keep up its rhetoric.
Goryeo is an island country with so few resources that it is impossible to develop heavy industry. Therefore, once the raw materials in Daxia are cut off, the production tasks of Hyundai Group are forced to stagnate.
While wrangling with former Daxia suppliers, Korean companies such as Hyundai Group are also looking for new suppliers in the global market.
For example, Guo Jia who sells resources such as Mao Xiong and India ↓ have many options to choose from. Although the materials they supply need more precise processing, they are at least "usable".
The disadvantage is that transportation costs and material smelting and processing costs have soared, and this has been reflected in the market that the prices of Hyundai Group's automobiles and heavy industry equipment have begun to be forced to rise.
Koryo cars, which originally had the advantage of cost-effectiveness, saw their market share begin to decrease visibly after the price increase.
And S0M Company was beaten so hard by the hammer this time.
Goryeo S0M Entertainment Co., Ltd. is a large-scale artist planning and management company in Goryeo, founded by Lee Soo Man, a former singer. The abbreviation of its name was banned by the Daxia Internet literary community, but its translation means "Star Museum, Hall of Fame."
Perhaps because the company is as its name suggests, many star artists of this large artist planning and management company have indeed suffered from the abbreviation of its name.
In recent years, Hallyu has been having a hard time in Daxia. Jiuzhou Technology took the lead, and Daxia Entertainment Company showed its loyalty even more.
All announcements related to Goryeo celebrities in Daxia, and those that can be cut, have been cut. If you really can't cut it, just put it in the corner to collect dust.
Movies, TV series, endorsements, any cooperation that can be terminated will be terminated. What cannot be terminated is either starting to use technology, changing faces, changing people, or reducing the number of scenes and appearances.
No one in Daxia's entertainment industry dares to turn a deaf ear to Jiuzhou Technology's words.
Special effects equipment and data processing are inseparable from Kyushu Technology's Rocky X1 processor. Many special effects companies even use the "cheap and top-notch" Titan processor.
There is also the influence of Lingjing Ecology in Daxia’s entertainment industry, the massive number of creators, cultural and entertainment cooperation IP owned by Jiuzhou Entertainment Platform around the world, and the most important official attitude.
Regardless of the Yanjing circle or the Hong Kong and Liuzhou circles, they all regard the once-hot Korean stars as hot potatoes, and you toss them around.
In addition, there are those families and companies with senior leaders who have been cut off from the supply of Taoyao. They can still buy them at high prices from the black market. However, the threat of having their quota of bionic mechanical prostheses cut off is simply taking away their second clause. Life.
Supply cuts, contract terminations, and terminations of business contracts, even if there is some liquidated damages, how can the losses suffered by Korean companies that rely heavily on exports and the entertainment industry be compensated by this tiny amount of liquidated damages.
Moreover, after the announcement of the Kyushu Alliance, the stock and commercial bond valuations of all Korean companies on the list began to dive.
The first to bear the brunt is naturally Hanxing Electronics. The latest data shows that the company's stock price plummeted by 7.38% in just one week.
As of August 7, Hanxing Electronics' market value fell to approximately US$300 billion, accounting for 18.21% of the total market value of the Korean Composite Stock Price Index.
This is the first time that Hanxing has fallen below the US$300 billion mark since the rise of Daxia Semiconductor.
Most importantly, although the total decline in the past two years has exceeded US$100 billion, Hanxing Electronics' share of the total market value of the Korean Composite Stock Price Index has not changed much.
This shows that Korea's overall financial and economic strength is beginning to shrink to a visible degree.
After the Korean star, the stocks of chaebol companies such as Hyundai Group also shrunk to varying degrees, and the stocks of the three major Korean entertainment companies S0M, Y0G, and J0YP plummeted.
It is strange to say that the stock plunges of Korean Star Electronics and Hyundai Group did not appear on the Korean hot search, but the market value plunges of these three strongest Korean entertainment companies appeared on the hot search of Korean social platforms. It was not just a simple discussion, but it directly dominated the hot search list for several days.