On August 5, 2024, the Shanghai No. 3 Intermediate People's Court (Shanghai No. 3 Intermediate People's Court) issued the (2023) Hu 03 Po No. 217 Civil Ruling, according to the content of the ruling, the owner of 100% of the shares of the original Crocodile Paint (Shanghai) Co., Ltd. (hereinafter referred to as "Crocodile Paint") was changed to Zhongge New Material Environmental Protection Technology (Shanghai) Co., Ltd., and the reorganization investor Zhongge New Material Environmental Protection Technology (Shanghai) Co., Ltd. can go through the relevant transfer registration procedures.
According to other information, on May 16, 2024, the manager of Crocodile Paint (Shanghai) Co., Ltd. has handed over the operation and management rights of the original Crocodile Paint (Shanghai) Co., Ltd. to the investor, Zhongge New Material Environmental Protection Technology (Shanghai) Co., Ltd., and the investor has fully taken over all matters such as production, sales, market management and brand maintenance of the original Crocodile Paint (Shanghai) Co., Ltd. So far, this reorganization case, which has lasted for more than two years, has been settled.
Zhongge New Materials is the latest investor
According to the previous tracking report of the coating, "Crocodile Paint Bankruptcy Reorganization Tracking: or Dealers "Reverse Rescue" with 35 million (click the link to view), investors are willing to take over Crocodile Paint with an investment amount of 35 million yuan.
The crocodile is still the original crocodile
A crocodile paint dealer in the southwest region of the original southwest region left a message in the background of the paint by the paint data showing that on August 12, 2024, the reorganized crocodile paint issued its first business announcement, saying:
- 1) The production address of the reorganized Crocodile Paint (Shanghai) Co., Ltd. is still the original address: No. 3966, Huqingping Road, Qingpu District, Shanghai, and the management system is still complete and effective;
- 2) After the reorganization, the plant and production equipment of Crocodile Paint (Shanghai) Co., Ltd. are still the plant and equipment of the original Crocodile Paint (Shanghai) Co., Ltd. At present, the plant and the appearance of the factory are being renovated, and soon it will meet you with a new look, and the production equipment is also continuing to be updated;
- 3) The brand and logo of crocodile paint are still ALLIGATOR, and the product variety, packaging form and pattern remain unchanged, and the brand image and packaging pattern will be upgraded in the future;
- 4) The formula and quality of all products of crocodile paint remain unchanged, and will be further improved in the future to meet the market sales;
- 5) Since May 16, 2024, the reorganized Crocodile Paint (Shanghai) Co., Ltd. has started normal production, fully meeting the ordering and sales needs of various markets;
- 6) After the reorganization, Crocodile Paint (Shanghai) Co., Ltd. has begun to sort out and develop the regional markets across the country, and the regional markets have gradually entered the right track;
- 7) New corporate videos, online and offline advertisements and supporting materials, sample albums, etc. are already in production, and will meet with you at that time;
- 8) The business school of the reorganized Crocodile Paint (Shanghai) Co., Ltd. is being established, and you will be invited to visit, communicate and learn from the Shanghai headquarters at the end of the year.
At the end of the announcement, Crocodile Paint (Shanghai) Co., Ltd. made two special tips:
- 1) For other enterprises or individuals who are found to be non-crocodile paint LOGO, but directly use "crocodile XX" for publicity and grafting, they are all counterfeit crocodile paint or rubbing balls, and Crocodile Paint (Shanghai) Co., Ltd. will crack down on it by legal means. At the same time, all dealers should distinguish between right and wrong to avoid being deceived!
- 2) The southwest region of Crocodile Paint (Yunnan Province, Sichuan Province, Guizhou Province, Chongqing Municipality, Hainan Province, Guangxi Province) is still managed by the reorganized Crocodile Paint (Shanghai) Co., Ltd. authorized by Crocodile Paint (Chengdu) Co., Ltd. If you have any questions, please contact the person in charge of Crocodile Paint Southwest directly.
Crocodile Paint reorganizes the timeline trajectory
According to the data, Germany ALLIGATOR (crocodile) belongs to the German DAW group. Founded in 1895, the group is a famous brand with a history of 100 years in Europe, and is a large-scale building materials manufacturer specializing in the production and sales of architectural coatings. DAW product sales are ranked first in the Germany paint market, second in the European insulation market and third in the European paint market. DAW has 28 production sites, 46 subsidiaries and sales outlets in more than 40 countries around the world.
In 1959, Mr. Mister, a German, officially founded Germany Aligato Paint Co., Ltd. and established the brand "Alligator" (crocodile). Crocodile Paint (Shanghai) was founded in 1997 and is jointly invested by Alijiato Paint of Germany, Shanghai Shenzhen and Far East Investment of Germany. Crocodile makeup has swept Shanghai, Beijing, Tianjin, Chongqing, Zhejiang, Sichuan and other regional markets, and occupies a first-line brand position in some regions. Crocodile paint products were once used in the "Bird's Nest", the main venue of the 2008 Beijing Olympic Games, and the China Pavilion of the 2010 Shanghai World Expo. For more information about Crocodile Paint, please move to the previous tracking report "Crocodile Paint "Pre-Reformation" Prequel: The Legend Ends, Looking Forward to a New Life" (click the link to view)
In 2022, due to its own operation and management problems, the original crocodile paint was subject to continuous litigation by creditors and other reasons, and carried out a three-month pre-restructuring to save itself, which ultimately ended in failure. Due to the inability to repay the due debts, the relevant creditors applied to the Shanghai No. 3 Intermediate People's Court for bankruptcy liquidation of the original crocodile paint, and the Shanghai No. 3 Intermediate People's Court issued the (2023) Hu 03 Po No. 217 civil ruling on April 13, 2023, and appointed Lixin Certified Public Accountants (special general partnership) as the manager of crocodile paint on April 20, 2023. This also announced that the original crocodile paint officially entered the bankruptcy liquidation process.
On June 15, 2023, the Crocodile Paint Manager held the first creditors' meeting online, announced and clarified the relevant information and content of the debt and creditors, and subsequently publicly selected an appraisal agency to provide asset valuation services. In view of the fact that the legal representative of the original Crocodile Paint proposed the reorganization intention to the administrator and the Crocodile Paint brand has a high reputation in the market and still has a certain reorganization value, the Crocodile Paint Manager reported to the Shanghai No. 3 Intermediate People's Court and applied for the bankruptcy liquidation case of the original Crocodile Paint to be transferred to the reorganization procedure on July 10, 2023.
In order to speed up the reorganization progress of the original Crocodile Paint, the manager of Crocodile Paint issued the "Recruitment Announcement for the Reorganization Investors of Crocodile Paint (Shanghai) Co., Ltd." to the public on July 28, 2023, and the registration time is limited to July 28, 2023 to August 25, 2023, and the relevant registration and recruitment conditions have been determined. According to the recruitment registration and condition screening, the manager of Crocodile Paint finally determined that Zhongge New Material Environmental Protection Technology (Shanghai) Co., Ltd. was the new investor of the original Crocodile Paint. On April 28, 2024, the Shanghai Intermediate People's Court approved the Draft Reorganization Plan of Crocodile Paint (Shanghai) Co., Ltd. in its (2023) Hu 03 Po No. 217 Civil Ruling, and terminated the reorganization procedure of Crocodile Paint and made a final ruling.
At this point, the reorganization case of the original crocodile paint has been settled, and the manager of crocodile paint has also handed over the operation and management rights of the original crocodile paint to the investor on May 16, 2024, and the investor will fully take over the production, sales, market management and brand maintenance of the original crocodile paint. At the same time, according to the content and results of the (2023) Hu 03 Po No. 217 Civil Ruling issued by the Shanghai No. 3 Intermediate People's Court on August 5, 2024, 100% of the equity of the original Crocodile Paint has belonged to the investor, and the change of shareholders and legal persons is also in progress.