Core Viewpoint - The article discusses the recent bankruptcy protection filing by Marelli, a major global automotive parts supplier, highlighting the challenges faced by the company and the potential ripple effects on the automotive industry [4][40]. Group 1: Company Background - Marelli, founded in 1891, has a long history of success in the automotive parts industry, initially gaining traction with ignition components and later expanding into various automotive technologies [8][11][14]. - By 2006, Marelli had become a significant player with annual sales reaching €4.5 billion and operations in 15 countries [21]. - The company was acquired by Fiat in 1967 and later merged with another parts supplier, creating a combined entity that ranked among the top automotive suppliers globally [17][30]. Group 2: Recent Challenges - Marelli's troubles began in 2019 when its parent company, Fiat Chrysler Automobiles, faced significant losses, leading to a sale attempt of Marelli [25][27]. - The COVID-19 pandemic severely impacted global automotive sales, with Marelli's revenue plummeting from €14.6 billion in 2018 to €10.4 billion in 2020, nearly halving [32]. - Internal management issues, including conflicting operational philosophies between Japanese and European teams, exacerbated Marelli's challenges, leading to production inefficiencies and loss of contracts [33][36][40]. Group 3: Bankruptcy and Restructuring - In June 2023, Marelli filed for Chapter 11 bankruptcy protection in the U.S., allowing the company to restructure its debts while retaining management control [67][70]. - The company has proposed two restructuring plans, one involving a potential acquisition by Motherson Group, which has faced resistance from creditors due to unfavorable terms [74][76]. - A second plan involves securing $1.1 billion in financing from creditors to stabilize operations, with an automatic conversion of debt to equity if no better offers arise [78][79]. Group 4: Industry Implications - Marelli's bankruptcy highlights broader issues in the automotive supply chain, particularly the impact of declining sales from major clients like Nissan and Stellantis [48][49]. - The company has missed critical opportunities in the transition to electric vehicles, with a significant portion of its revenue still tied to traditional internal combustion engine components [50][51]. - The evolving global trade policies, particularly tariffs imposed by the U.S., have further strained Marelli's operations, emphasizing the need for adaptability in the automotive sector [54][55].

Create an Intelligent Vision Build a Brighter Future June 2025 www.sunnyoptical.com 目录 CONTENTS 01 02 Corporate Introduction Future Outlook Corporate Introduction Corporate Introduction A world-leading optical enterprise specializing in the development and large-scale production of optical imaging and optical sensing products 1984 Established 2007 Listed on the Main Board of HKEX The first domestic optical company to be listed in Hong Kong 2017 Selected into the Hang Seng Index 2020 Selected into the Hang S ...