百年巨头突然宣布：撑不下去了……曾是市场绝对霸主，很多人用过

Core Viewpoint - Kodak, a 133-year-old imaging giant, has warned investors that it may not be able to sustain operations long-term, leading to a significant drop in its stock price by nearly 26% on the news [1]. Financial Performance - In the second quarter, Kodak reported revenue of $263 million, a year-on-year decline of 1% from $267 million [5]. - The company's gross profit was $51 million, down 12% compared to the previous year [5]. - Kodak experienced a net loss of $26 million, contrasting with a net income of $26 million in the same period last year, indicating a shift from profit to loss [5]. - The company reported a loss of $0.36 per share, compared to a profit of $0.23 per share in the previous year [5]. Debt and Financial Obligations - Kodak has approximately $500 million in debt that it is unable to repay, raising significant doubts about its ability to continue operations [5][3]. - To raise cash, Kodak plans to terminate pension payments for retirees [4]. Historical Context and Market Position - Kodak was once a dominant player in the photography market, holding a 90% market share in the U.S. film market and 85% in the camera market during the 1970s [9]. - The company's decline coincided with the rise of digital cameras and smartphones, despite having developed the first digital camera in 1975 [9]. - Kodak filed for bankruptcy protection in 2012, with total debts reaching $6.75 billion and 100,000 creditors [9]. Strategic Initiatives - In 2020, Kodak restructured its financial reporting to focus on traditional printing, digital printing, advanced materials and chemicals, brands, and other segments, with film now categorized under advanced materials and chemicals [9]. - Kodak announced plans to expand its specialty chemicals and pharmaceutical product lines, investing "tens of millions of dollars" in new laboratories and manufacturing facilities [9]. - The CEO stated that while exploring diversification into new fields, Kodak will continue to maintain its traditional film business, which remains profitable despite its reduced contribution to total revenue [9].