21世纪经济报道·2025-11-26 01:32Core Viewpoint - The article discusses the new round of restructuring for Suning Group, highlighting the involvement of Fangda Carbon as a potential investor, which may lead to significant changes in the company's operational landscape and strategic direction [1][3]. Group 1: Restructuring Process - Following the failure of the initial restructuring plan, a new selection process for investors has begun, with Fangda Carbon being the first to publicly express interest [1]. - The restructuring process will follow a structured approach, including preliminary selection, final selection, and voting by the creditors' committee [1][3]. - The new round of investor selection has seen both returning and new investors, with some previous investors opting out [1]. Group 2: Fangda Carbon's Role - Fangda Carbon aims to leverage its advantages in the negative electrode industry to enhance its supply chain stability and overall profitability through participation in the restructuring [3]. - The company has a history of strategic acquisitions and restructuring, indicating its capability and experience in navigating complex investment scenarios [4]. - Despite its strategic intentions, Fangda Carbon's core business has shown signs of decline, with revenues decreasing from 5.23 billion yuan in 2022 to an estimated 3.87 billion yuan in 2024 [5]. Group 3: Investor Selection Criteria - The new investor selection process has been optimized, extending the application period from 7 days to 18 days, allowing for a broader range of potential investors [10]. - The bidding price for shares has been set at 11.50 yuan, which is higher than the previous round's minimum price of 8.65 yuan, indicating a more competitive environment [10][11]. - The restructuring plan emphasizes the need for strong industrial synergy among investors, which is a critical factor for selection [3][10].