利润、渠道、专利全给美国！电池霸主南孚是怎么被榨干的？

Core Viewpoint - The story of Nanfu Battery illustrates the rise and fall of a once-dominant Chinese brand, highlighting the risks of foreign investment and the complexities of capital structure in maintaining control over a company [1][21]. Company History - Nanfu Battery, originally founded as Nanping Battery in 1954, started as a small workshop struggling for survival [3][5]. - In the 1970s, Chen Laimao joined the company, leading it to expand from rural markets to urban areas through partnerships with well-known battery manufacturers [5][6]. - The company capitalized on the rising demand for alkaline batteries in the 1980s, becoming a market leader [6]. Capital Structure and Foreign Investment - In 1988, Nanfu Battery became the first joint venture battery company in China, partnering with foreign capital, which later complicated its ownership structure [8][10]. - By 1999, foreign investors held significant control over Nanfu, culminating in a sale to Gillette in 2003, which marked the end of its status as a national brand [10][12]. - Gillette's acquisition led to a focus on its own brand, Eveready, at the expense of Nanfu, which saw its production capabilities and resources significantly reduced [12][14]. Corporate Changes and Challenges - After Gillette was acquired by Procter & Gamble in 2005, Nanfu continued to be used primarily to support the sales of Eveready, further limiting its growth [15][17]. - In 2014, Nanfu was sold to Dinghui Capital, which aimed to diversify its product line and reduce reliance on battery sales [17][19]. - By 2017, Nanfu's revenue reached 2.32 billion yuan, showing signs of recovery under new management [19]. Recent Developments - In 2022, Anhui Andeli announced plans to acquire Nanfu's controlling company, aiming to leverage its brand strength in the battery industry [21]. - Despite this potential opportunity, Nanfu faces significant competition and technological challenges in the evolving market [21][23]. Lessons Learned - The narrative of Nanfu Battery serves as a cautionary tale for companies regarding the importance of maintaining control over their core operations when engaging with foreign investors [23].