新华社柏林11月20日电 题：透视破产潮背后的德国经济困局 新华社记者李函林 啤酒厂破产导致大型连锁超市供货受影响、知名面包供应商破产造成部分地区烘焙产品断档、巧克 力制造商宣布将在明年复活节生产季结束后退出市场……近期德国主流媒体类似报道屡见不鲜。 然而，食品和消费品领域的震荡还不是全貌，更深层的压力正在德国经济的"中坚力量"——中型制 造企业中显现。在能源价格高企、出口订单减少以及美国高关税等多重因素挤压下，许多深耕本地和出 口市场几十年甚至上百年的德国家族企业纷纷感到难以为继。 例如，主营起重机与重型吊装设备的许弗曼公司表示，高关税叠加经济疲软，使经营遭遇断崖式恶 化。百年陶瓷品牌罗森塔尔也宣布关闭主力工厂，而成立于1905年的针织机械制造商迈耶西在全球贸易 动荡冲击下最终申请破产保护。 随着破产案例不断攀升，德国制造业长期积累的结构性问题日益凸显。德国工业的支柱不仅靠跨国 巨头，更依赖数量庞大、分布广泛的中型家族企业，它们在全球供应链中承担着关键零部件制造和工艺 支持。然而，正是被视为"德国实力核心"的这一层如今正面临前所未有的挑战。 就业受冲击 随着破产潮蔓延，德国政商界围绕企业困境"病因"与应对" ...

新华社柏林11月20日电 题：透视破产潮背后的德国经济困局 新华社记者李函林 啤酒厂破产导致大型连锁超市供货受影响、知名面包供应商破产造成部分地区烘焙产品断档、巧克力制 造商宣布将在明年复活节生产季结束后退出市场……近期德国主流媒体类似报道屡见不鲜。 多家研究机构预测，今年德国企业破产数量或创十多年来新高。能源成本高企、企业转型乏力，叠加美 国关税冲击，令德国企业生存空间不断遭挤压，经济面临多年未见的严峻挑战。 破产潮蔓延 德国多家生产企业表示，产能利用率不稳定、固定成本过高、竞争力下降，加上电费压力，导致传统消 费品企业发展面临的压力不断增大。研究机构指出，企业破产已开始影响零售和终端市场，反映供应链 紧张局面。 然而，食品和消费品领域的震荡还不是全貌，更深层的压力正在德国经济的"中坚力量"——中型制造企 业中显现。在能源价格高企、出口订单减少以及美国高关税等多重因素挤压下，许多深耕本地和出口市 场几十年甚至上百年的德国家族企业纷纷感到难以为继。 例如，主营起重机与重型吊装设备的许弗曼公司表示，高关税叠加经济疲软，使经营遭遇断崖式恶化。 百年陶瓷品牌罗森塔尔也宣布关闭主力工厂，而成立于1905年的针织机械制 ...

Group 1 - The company announced the termination of the acquisition of 75% of Shunyi Technology due to failure to reach consensus on key commercial terms [1] - The company aims to continue advancing its operational management and enhancing performance while safeguarding shareholder interests [1] - In 2024, the company's knitting machine business generated revenue of 1.934 billion, a year-on-year increase of 15.22%, accounting for 87.19% of total revenue [1] Group 2 - The company sold 36,838 knitting machines, representing a year-on-year growth of 26.41%, with an overall market share of approximately 28% [1] - The company is focusing on the application and industrialization of robotics in the textile and apparel sector, currently researching humanoid robot electronic skin and smart wearable clothing technologies [2] - Although the termination of the acquisition may impact the company's cross-industry expansion plans in the short term, it will continue to leverage its technological accumulation and market advantages in the knitting machinery sector for steady progress [2]

Group 1 - The meeting held by Cixing Co., Ltd. aimed to express gratitude to national agents for their hard work and contributions while discussing future development plans [1][3] - Chairman Sun Pingfan summarized the company's overall development in the first half of 2025, highlighting achievements and areas for improvement in market expansion, product development, and team building [3][5] - The sales department presented a detailed review of the semi-annual sales performance across regions and product lines, analyzing market trends and competitive dynamics to outline core sales strategies for the second half of the year [5][7] Group 2 - A discussion session was organized for agents to address market product demands, marketing challenges, and after-sales service issues, fostering effective communication and collaboration [7] - The company arranged a cultural experience tour at the Langjiu winery, enhancing the relationship among agents through wine tasting and team-building activities [7][8] - The event concluded with a celebratory hot pot dinner in Chengdu, symbolizing the company's commitment to its partners and the shared goal of achieving greater success in the second half of the year [8] Group 3 - Cixing Co., Ltd. focuses on enhancing knitting machinery technology, promoting knitting process advancements, and achieving intelligent upgrades in the knitting industry, supported by strong R&D capabilities [8] - The company has established two R&D centers in China and Switzerland, forming an innovation mechanism that emphasizes independent research and development [8] - Cixing Co., Ltd. has received numerous honors, including the National Science and Technology Progress Award (second prize) and recognition as a "Made in China 2025" demonstration enterprise [8]

Group 1 - The company held a sales meeting in Sichuan to summarize its overall development in the first half of 2025, discussing achievements and shortcomings in market expansion, product development, and team building [2] - The meeting reviewed sales performance across regions, product lines, and agents, analyzing market trends, competitive landscape changes, and channel dynamics to outline core sales strategies and goals for the second half of the year [2] - The company reported a total revenue of 608 million yuan in Q1, representing a quarter-on-quarter growth of 40.19%, and a net profit attributable to shareholders of 76.11 million yuan, with a quarter-on-quarter growth of 395.62% [2] Group 2 - The computer flat knitting machine industry is facing both resilience and pressure, with a slowdown in order volume due to tariff policies and end-consumer demand [3] - The industry is experiencing intensified homogenization competition, leading to compressed profit margins and a deep adjustment in the development pattern [3] - The company is actively exploring diversification to create a second growth curve, despite two failed attempts at restructuring this year, which did not significantly impact its current operations [3] - The company aims to transform and upgrade its production capabilities to mitigate cyclical performance fluctuations and break through industry development bottlenecks [3]

Group 1 - The company has terminated its plan to acquire 75% of Shenyang Shunyi Technology Co., Ltd., marking its second failed cross-border acquisition attempt this year [1][3] - The termination was due to a lack of agreement on certain commercial terms with some of the transaction parties [3] - The company aims to diversify its revenue streams and has been seeking new profit growth points, especially after a significant decline in net profit in the first quarter [1][5] Group 2 - In the first quarter of this year, the company's net profit decreased by 66.46%, despite a slight revenue increase of 2.73% [5] - The company's main product, computer knitting machines, contributed over half of its revenue, with projected revenue of approximately 12.47 billion yuan for 2024 [5] - The knitting machinery industry is facing challenges such as overcapacity in domestic textile production and intense price competition in emerging markets [6]

Group 1 - Cixing Co., Ltd. (慈星股份) announced the termination of its plan to acquire 75% of Shunyi Technology due to failure to reach consensus on commercial terms with some counterparties, prioritizing the long-term interests of shareholders [2][3] - The company aims to optimize its industrial layout and expand into the defense technology sector through this acquisition, which was intended to create a second growth curve [2] - Cixing Co., Ltd. has previously terminated another major asset restructuring plan earlier this year, indicating challenges in executing strategic acquisitions [3] Group 2 - Southbound funds recorded a net inflow of 590.2 billion HKD this week, marking an 82.43% increase week-on-week, despite a general market downturn [4] - Xiaomi Group-W saw the highest net buy amount from southbound funds at 33.65 billion HKD, reversing a 14-week decline in shareholding [4][5] - The top ten active stocks included several major players, with InnoCare Pharma achieving the highest weekly gain of 31.51% [4][5] Group 3 - Two stocks, Sanhua Intelligent Control and BYD, experienced a doubling in shareholding from southbound funds, indicating significant investor confidence [6] - Sanhua Intelligent Control reported a net profit increase of 25% to 50% year-on-year, driven by growth in its air conditioning components business [6][8] - Shandong Molong's shareholding increased by 11.17% despite a projected net profit decline of 92.36% to 94.12% year-on-year [7][8]

Core Viewpoint - Cixing Co., Ltd. has terminated its acquisition of 75% of Shenyang Shunyi Technology Co., Ltd., marking the second failed acquisition attempt this year as part of its strategy to diversify into popular industries [1][3]. Group 1: Acquisition Attempts - The acquisition of Shunyi Technology was intended to enhance Cixing's capabilities in the defense technology sector and create a new growth curve for the company [3]. - Prior to the Shunyi Technology deal, Cixing attempted to acquire Wuhan Minsong New Technology Co., Ltd. but also terminated this deal due to failure to reach agreement on key commercial terms [4]. Group 2: Company Performance - In 2024, Cixing reported a revenue of 2.218 billion yuan, a year-on-year increase of 9.16%, and a net profit attributable to shareholders of 284 million yuan, up 148.82% [4]. - For the first quarter of the current year, Cixing achieved a revenue of 608 million yuan, reflecting a year-on-year growth of 2.73%, while the net profit dropped by 66.46% to 76.11 million yuan [4]. Group 3: Future Development Direction - Cixing plans to solidify its core business by developing specialized knitting machines and focusing on the smart knitting equipment industry, aiming to enhance technology levels and promote industry upgrades [5]. - The company is also exploring new growth areas in smart wearable technology and medical textiles [5].

Group 1 - Cixing Co., Ltd. announced the termination of its plan to acquire 75% of Shenyang Shunyi Technology Co., Ltd. due to failure to reach agreement on certain commercial terms after multiple negotiations [1] - The company committed to not planning any major asset restructuring within one month following the announcement of the termination [1] - Cixing Co., Ltd. has previously attempted to acquire Wuhan Minsong New Technology Co., Ltd. but also terminated that transaction due to disagreements on final transaction conditions [3] Group 2 - The computer knitting machine industry is facing intensified homogenization competition, leading to compressed profit margins and a need for significant adjustments in the industry landscape [2] - In Q1 2025, the computer knitting machine industry experienced stable performance, but downstream order volumes are facing short-term stagnation due to consumer demand [2] - Cixing Co., Ltd. reported a revenue of 608 million yuan in Q1 2025, a year-on-year increase of 2.73%, while its net profit attributable to shareholders decreased by 66.46% to 76.11 million yuan [3]

Core Viewpoint - Cixing Co., Ltd. has terminated its acquisition of 75% of Shenyang Shunyi Technology Co., Ltd. due to failure to reach consensus on certain commercial terms after multiple negotiations [2][4]. Group 1: Termination of Acquisition - The company announced the termination of the asset purchase and fundraising plan, stating that it strictly followed relevant laws and regulations during the transaction process [4][8]. - The decision to terminate the acquisition was made after careful consideration to protect the long-term interests of all shareholders, with no party incurring any breach of contract liabilities [8]. Group 2: Future Development Strategy - Cixing Co., Ltd. plans to continue focusing on its core business of intelligent knitting equipment, aiming to enhance technology levels and promote advancements in knitting processes [11]. - The company is exploring new growth opportunities in fields such as smart wearables and medical textiles, while also seeking to upgrade its business model [11]. - As of August 1, the company's stock price was 8.17 yuan per share, with a total market capitalization of 6.5 billion yuan [11].