How big is the impact of the “epidemic”? A toy factory in Dongguan declared bankruptcy. It was a supplier of Hasbro and Disney

According to the toy trade news, on March 18, a toy factory in Dongguan went bankrupt and closed. According to a processor, the company owner still owes more than 1 million in payment. Panduit Toy Factory was once a medium-sized Hong Kong-funded enterprise with its head office located in Hong Kong. The Dongguan factory occupies an area of u200bu200b35,000 square meters. It used to be a large toy manufacturer mainly producing plush stuffed and electric toys. Previous customers were mostly world-renowned companies, such as MCDONALD, DISNEY (Disney), WALMART, TESCO, TARGET, HASBRO Pictures (Hasbro) The products sell well in many countries and regions such as Europe, America, Asia and the Middle East. It is reported that the company has been established for more than 20 years. On March 17, 2020, there are still many suppliers actively supplying materials. However, on March 18, 2020, they suddenly announced the closure. Its address is located in Panduit Toys, Zengbu Kirin City Industrial Zone, Chashan Town, Dongguan City, Guangdong Province. Limited company. According to a processor, the company owner still owes more than 1 million in payment. According to Tianyan Check, the company's shareholders have changed. For the toy manufacturing industry, some people in the industry once said that during the most difficult period of the financial crisis in 2008, the operating profit rate was higher than it is now. At the beginning of 2009, only about 2,000 yuan was paid to workers’ wages, and now it has risen to 4,000 to 6,000. , Coupled with rising raw material costs, the company's business is struggling. The biggest pressure now is on loans and labor. In two to three years, workers’ wages have doubled several times. Many industry professionals and experts believe that the financing difficulties of small and medium-sized enterprises are an important issue that causes the rupture of the capital chain. Affected by the epidemic and the external environment, demand in some EU and North American markets has begun to decrease, while the domestic financing environment has become more difficult, wages have increased, raw material costs have increased, the appreciation of the renminbi has increased, and the profits of small and medium-sized enterprises have been suppressed. The Dongguan enterprises, like the Yangtze River Delta enterprises, have indeed reached the most dangerous period since 2008. If the situation is worse, any pressure may become the last straw. If the domestic financing environment, wage levels increase, and prices are not controlled, it will cause orders to be unavailable, and the life of small and medium-sized enterprises will be even worse. Source: Toy store, Daily Economy, Tianyan Check.