Little Overlord in Bankruptcy Vortex: 33 Years from Glory to Loneliness

The brand "Little Overlord" is familiar to many post-80s and post-90s generations. The happy time of playing classic cassette games such as Super Mario and Contra with friends has now become a precious youth memory. Recently, "Little Overlord" has once again returned to the public eye, but it is the news of its application for bankruptcy reorganization that has made many netizens lament "the tears of the times" and "youth is over" ......

"Little Overlord was filed for bankruptcy" immediately rushed to Weibo for hot search.

Apply for bankruptcy reorganization

According to the National Enterprise Bankruptcy and Reorganization Case Information Network, Xiaobawang Culture Development Co., Ltd. (hereinafter referred to as "Xiaobawang Culture") applied for bankruptcy and reorganization on June 5, and the applicant was Yin Xiaoyun. The case number was (2020) Guangdong 20 Po Shen 13 1.

According to China Information Open Network,165438+On June 6th, Xiaobawang Culture was listed as the executor twice by Zhongshan No.1 People's Court, with the execution target of 23 1373 yuan. Since the beginning of this year, 33 people have been executed for the bully culture, and the enforcement courts are all the First People's Court of Zhongshan City. In addition, the bully culture has been listed as the executor of dishonesty, and the act of dishonesty is "having the ability to perform and refusing to perform the obligations determined by the effective legal documents." In addition, since 20 19, there have been as many as 98 judicial cases involving bully culture, including many equity investment disputes.

Feng Baolun, the legal representative of Xiaobawang Culture, was also listed as a person who restricted high consumption by the court. There are currently 30 orders to limit consumption. The latest consumption restriction order was issued by the First People's Court of Zhongshan City on 10/22 October, and the executor of the application was Liu. In this consumption restriction order, Feng Baolun is not allowed to make high consumption in hotels, hotels, nightclubs, golf courses and other places above the star level, and is not allowed to buy real estate or build, expand or decorate high-grade houses.

Try to make a comeback

1987, Chen Jianren, then the general manager of Yihua Group, invited Duan Yongping to take over an electronics factory under the group that suffered losses for years. At that time, FamilyComputer (FC), a home game console launched by Nintendo, a famous Japanese game company, was sweeping the world. However, at that time, domestic video games were still in the arcade era, and Japanese red and white machines were not officially introduced to China. Duan Yongping keenly discovered business opportunities, started mass production of home game consoles, entered the market of electronic game machines, and created the "Little Overlord" brand.

At that time, it can be said that parents were talking about "electronic games", but the bully named the product "children's learning machine" and avoided the key word "game", so this game machine "engaged in educational electronic products" was popular all over the country, and even advertised during CCTV prime time1991-kloc-0/993.

1994, Little Overlord also invited superstar Jackie Chan to speak for him. For a time, the slogan "Wang Zicheng Dragon Overlord" became a household name.

From 65438 to 0995, the output value of bully reached 1 100 million.

It was also in this year that Duan Yongping, who led the bully to the peak, officially left his post and later founded BBK. After 2000, on the one hand, due to the rise of computers, on the other hand, the state issued the "Opinions on the Special Management of Electronic Game Business Places", prohibiting the sale of all domestic electronic game products, and the domestic electronic game market entered a hibernation period. In 2004, bully split up several subsidiaries, involving many industries, but it has not improved and gradually faded out of people's sight.

In 20 15, Yihua Group, the owner behind Xiaobawang brand, reorganized its brand and assets and established Zhongshan Xiaobawang Cultural Industry Co., Ltd., and then Yihua Holdings also injected 500 million yuan into Xiaobawang Culture, and carried out share reform to seek listing. In 20 16, Xiaobawang Culture announced its cooperation with AMD, saying that it would invest more than 400 million yuan to customize a VR game console chip more powerful than Xbox One/PS4 processor, and prepare to enter the field of virtual reality. In the same year, the goal of "the new overlord of VR industry with market value exceeding 50 billion in the future" was also put forward.

In April of 20 18, the bully culture announced its return to the game machine market in a high-profile manner, and said that it would fully respect intellectual property rights. In August of the same year, it announced the new game computer "Z+" of Little Overlord, with a price of 4,998 yuan, and had the exclusive agency right of the game "Rush". However, its high price has also attracted many questions, and this game machine has not been put on the market for sale. Only one year later, the bully was exposed to problems such as "the game machine project could not be further promoted due to lack of funds" and "arrears of property company fees and employees' wages". On May 20 19, the new game console project team was dissolved, and Xiaobawang Shanghai Branch was also closed.

The boss behind him is in poor condition.

165438+1On the afternoon of October 9, Red Star Capital Bureau called the public telephone of Xiaobawang Culture to make an inquiry, but after the call was connected, the other party said that it was not Xiaobawang Culture Development Co., Ltd., but Yihua Department Store Co., Ltd.' s temporary card withdrawal registration office.

Which company is this Yihua Department Store Co., Ltd.? According to Tianyancha APP, Guangdong Yihua Department Store Co., Ltd. was established on1May 2, 9951and its headquarters is located in Zhongshan City, Guangdong Province. It was listed on the main board of the Hong Kong Stock Exchange on February 20 13 (referred to as "Yihua Holdings", code: 022 13). HK)。 It is worth noting that Yihua Department Store is also the holding company of Xiaobawang Culture, holding 49% of the shares, and its chairman is Chen Jianren. June 5438+this year 10, Chen Jianren stepped down as the chairman of Xiaobawang Culture Development Co., Ltd., and Feng Baolun served as the chairman. On July 1 day, the legal representative of Yihua Department Store was also changed from Wu Bintao to Feng Baolun.

The recent situation in Chen Jianren is obviously not good. According to the Red Star Capital Bureau, Yihua Department Store has recently experienced problems such as "filing for bankruptcy" and "large-scale arrears in payment to merchants". On August 1 day, Yihua Department Store also published an article "Diffusion! Rumors stop with wise men, don't misinform them! ",indicating that the news circulating on the Internet that Yihua Department Store filed for bankruptcy and that more than 100 businesses have registered to recover their debts is a rumor, and pointing out that Yihua Department Store has filed a record with the public security organ and reserves the right to pursue the legal responsibility of the rumor maker. However, according to the customer service of Yihua Department Store, it was revealed to the Red Star Capital Bureau that the department store was in arrears with the merchants' payment.

According to public information, from June 5438 to February last year, Yihua Holdings has been applied for liquidation by creditors for three times. On September 7 this year, Yihua Holdings announced that the Hong Kong High Court had issued an order to liquidate the company in HCCW393/20 19 in August 65438.

According to the unaudited performance announcement of Yihua Holdings in 20 19, the net assets of the company at the end of 20 19 were-426 million yuan, 269 million yuan at the end of 20 17 and1590,000 yuan at the end of 20 18. Up to now, Yihua Holdings is still suspended. On August 8th, the last trading day before the suspension this year, it closed at 0. 10 1 HK$ per share, with a total market value of only 1.0 1 billion, equivalent to less than RMB 90 million, which is 206,500 in 2003.

Editor Chen Cheng

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