Recently, the news of the bankruptcy of Wanwei Electronics (Shenzhen) Co., Ltd. on the internet has attracted widespread attention. However, after multiple verifications by journalists from Nandu, it was found that some of the claims were significantly different from the facts.
Wanwei Electronics (Shenzhen) Co., Ltd., as a subsidiary of the Hong Kong listed company "Wanwei International", has long focused on the research and development and production of electronic products, including telephones, alarms, calculators, etc. However, as early as 2000, the company began to adjust its industrial layout, gradually compressing and shutting down these traditional product lines. With the deepening of industrial adjustment, the number of employees in the company has also significantly decreased. By 2020, the number of employees in the company had decreased from its original massive scale to only 500. On February 1, 2023, the company officially ceased production, leaving only a few dozen employees.
It is worth noting that the Shenzhen Intermediate People's Court ruled on September 9, 2024 to accept the bankruptcy liquidation case of Wanwei Electronics (Shenzhen) Co., Ltd. Currently, the entire bankruptcy process is proceeding in an orderly manner in accordance with the law. On October 22 of the same year, the bankruptcy trustee issued a notice to terminate the employment relationship with all employees, involving a total of 49 employees.
From the perspective of the company's own development, insufficient innovation has become a key factor in the bankruptcy of Wanwei Electronics. As a former dominant enterprise in the field of telephones, Wanwei has shown inadequate response to the impact of smartphones. Although I attempted to enter the smart home market later, due to the reliance on outsourcing for core technology and a lack of innovation capabilities, my products lacked competitiveness and could not meet market demand. Meanwhile, the market strategy was not adjusted in a timely manner, causing Wanwei to gradually lose market share in the fierce market competition.
In response to various speculations on the reasons for the bankruptcy of Wanwei Electronics on the internet, the Chentian community in Xixiang, where the company is located, has responded: "It is rumored that Wanwei Electronics (Shenzhen) Co., Ltd. suddenly declared bankruptcy on October 22 and tens of thousands of employees lost their jobs. At the same time, the reason is attributed to the US China trade war and the lack of competitiveness of mainland enterprises. This statement is untrue. In fact, the real reason is that the company's original products such as telephones and calculators were eliminated by the times, and the company's research and development of new products did not keep up. Moreover, the impact of the company's bankruptcy on both the job market and the development of Chentian community is not as great as what is rumored online. Only 49 employees were truly unemployed
The staff of Chentian Community also stated that Wanwei is not the first large enterprise to settle in Chentian Community, nor will it be the last one. At present, there are plans for industrial upgrading for the factories and communities leased by Wanwei Yuan, and we believe that they will develop even better in the future.