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Changhong

For other uses, see Changhong (disambiguation).
Sichuan Changhong
Electric Co., Ltd.
Changhong, CHiQ
Native name
四川长虹电器股份有限公司
Company typePublic
SSE: 600839
IndustryTelevision Manufacturer
FoundedOctober 1958; 66 years ago (1958-10)
Headquarters
Mianyang
,
China
Area served
Worldwide
Key people
Zhao Yong 赵勇, President, Wang Fengzhao 王凤朝, Vice Chairman, G.M., Liu Tibing 刘体斌, Vice Chairman, Deputy G.M., Tan Mingxian 谭明献, Secretary, Board of Directors, Deputy G.M.
ProductsTV, Refrigerator, Air Conditioners, Set Top Boxes
Total equity12,741,313,930.51 RMB[1]
Number of employees
32,000[1] (May 20, 2011)
Websitechiq.com
cn.changhong.com

Sichuan Changhong Electric Co., Ltd., doing business as Changhong (长虹) domestically and CHiQ internationally,[2][3] is a Chinese consumer electronics company based in Mianyang, Sichuan,[4] founded in October 1958. In 2004, 90 percent of the television sets exported from China to the United States were made by Changhong.[5] It was the second-largest manufacturer of televisions in China as of 2010.[6]

History

1950-99

Changhong emerged from the Changhong Machinery Factory, which was a state-owned large enterprise established in the 1950s.[7] The company, which was part of the 156 key projects that were aided by the Soviet Union, focused on the development and production of airborne fire control radar system.[7]

Changhong Electronics developed during the Third Front campaign to develop basic industry and national defense industry in China's interior in case of invasion by the Soviet Union or United States.[8]: 4, 219  Changong Electronics is the best-known electronics manufacturer to arise during the Third Front period.[8]: 219 

By mid-1970s, Changhong began manufacturing products for civilian use when demand for military hardware declined, eventually focusing on the television product line.[9] During the next decade, it beefed up its technological capabilities with a series of partnerships with overseas companies such as Panasonic, from which it imported tubes and advanced production lines to drive the volume production of television.[7] It was a major driver in the regional share of television production in inland China rising from 0 to 32% of national production.[8]: 219  In 1980, the company already boasted the production of over 10,000 television units annually and by 1988, this number rose to almost a million units.[9] In 1994, the company was listed as a publicly traded company and, a year later, it was recognized as China's largest television manufacturer.[9]

2000-present

In 2001, Changhong reached an agreement with David Ji, the chairman of the American company Apex Digital.[10] Changhong was at that point China's largest television manufacturer, a supplier majority-owned by the company-town city of Mianyang and the province of Sichuan.[10] The company provided two-thirds of the city of Mianyang's revenue, and Changhong's chairman and managing director Zhao Yong was until late 2004 the city's deputy mayor.[11] Changhong became Apex's largest supplier of DVD players.[10]

On October 23, 2004, as Apex was in a business dispute with Changhong in which the two companies argued over hundreds of millions of dollars, as Ji was in China on a business trip he was arrested by Mianyang police in his hotel room in Shenzhen, China, near Hong Kong, who came from 500 miles away from Shenzhen.[12][10][13][14][15] Changhong accused Ji of defrauding them through bad checks.[16] He was held in China by Changhong for months without charges.[10][12] On May 28, 2005, Ji was formally arrested on charges of "financial instrument fraud."[10] In police custody, his conditions improved.[10] In June 2015, Apex acknowledged a $150 million debt, but the debt remained unpaid as Apex said it did not have any money.[10] In August 2005, the police released Ji on restricted bail, without him being indicted.[10]

Since 2004, Changhong's development strategy and operating mechanism system have changed from time to time, and the industrial scale has expanded rapidly, becoming the leading enterprise in the domestic intelligent integration industry layout. It owns four listed companies including Sichuan Changhong, Changhong Meiling, Changhong Huayi and Changhong Jiahua.[citation needed] Changhong has a minimal presence in North America, where as of 2021 it sold TVs through the online retailer Newegg. It markets its brand CHIQ in United States.[17] Another line of products is the manufacturing of nickel–iron batteries.[citation needed]

Leadership

Presidents of Changhong
MA Zhang 1957–1961
SHI Fu 1962–1964
WANG Zhidong 1966–1974
KANG Naide 1975–1980
HU Zhengxing 1981–1982
WANG Jincheng 1983–1984
NI Runfeng 1985–2004
ZHAO Yong 2004-2023
LIU Jiang 2023–present

References

  1. ^ a b "Changhong 长虹". Webold.changhong.com. 1994-03-11. Archived from the original on 2011-09-02. Retrieved 2014-06-14.
  2. ^ "四川长虹简介". group.changhong.com. Retrieved 2022-08-16.
  3. ^ "About CHiQ". www.chiq.com. Retrieved 2022-08-16.
  4. ^ "Contact Us." Changhong. Retrieved on August 5, 2015. "Head Office Address: 35 East Mianxing Road, High-Tech Park, Mianyang, Sichuan, China" Chinese address: "四川省绵阳市高新区绵兴东路35号"
  5. ^ Buckley, Chris (29 December 2004). "Changhong, China's largest TV exporter, announces a huge loss". The New York Times.
  6. ^ "Changhong, Jianghuai Auto, TCL, Zijin: China Equity Preview". Bloomberg. 3 August 2010.[dead link‍]
  7. ^ a b c Yu, Q.Y. (1999). The Implementation of China's Science and Technology Policy. Westport, CT: Quorum Books. p. 193. ISBN 1567203329.
  8. ^ a b c Meyskens, Covell F. (2020). Mao's Third Front: The Militarization of Cold War China. Cambridge, United Kingdom: Cambridge University Press. doi:10.1017/9781108784788. ISBN 978-1-108-78478-8. OCLC 1145096137. S2CID 218936313.
  9. ^ a b c West, Douglas; Ford, John; Ibrahim, Essam (2012). Strategic Marketing: Creating Competitive Advantage, 2nd ed. Oxford: Oxford University Press. p. 558. ISBN 9780199556601.
  10. ^ a b c d e f g h i Joseph Kahn (November 1, 2005). "Dispute Leaves U.S. Executive in Chinese Legal Netherworld," The New York Times.
  11. ^ "Efforts Continue to Win Release of American in China," The New York Times.
  12. ^ a b "Held Hostage In China". Forbes. 1 November 2005. Archived from the original on 1 November 2005.{{cite web}}: CS1 maint: bot: original URL status unknown (link)
  13. ^ "U.S. Embassy Confirms Arrest Of Apex Digital Chief in China". The Wall Street Journal. 31 December 2004. Retrieved 18 May 2022.
  14. ^ "US company boss arrested in China". 30 December 2004. Retrieved 18 May 2022.
  15. ^ "Arrest of Apex Digital Chairman in China Confirmed". The Los Angeles Times. 30 December 2004. Retrieved 18 May 2022.
  16. ^ "The Price Is Wrong". IEEE Spectrum. 1 March 2005. Retrieved 18 May 2022.
  17. ^ "About – CHiQ". Retrieved 2021-02-08.
Quelle: http://en.wikipedia.org/wiki/Changhong