Onkyo anqiao, a Japanese audio equipment manufacturer founded in 1946, recently filed for bankruptcy. In May, Onkyo home entertainment announced that it had applied to Osaka District Court for bankruptcy protection and accepted the decision to start bankruptcy proceedings. Its total liabilities were about 3.1 billion yen (about 200 million yuan at present). For Chinese consumers, anqiao is the representative brand of hifi sound, and Chinese household appliance brand TCL has also cooperated with it for many times to take anqiao sound as the guarantee of high-end sound quality of TV. The lawyer of anqiao's bankruptcy administrator said at a press conference on May 13 that "profits have deteriorated due to market shrinkage and (business) expansion". Anqiao has about 500 creditors. About 250 of them are consumers who book amplifiers through crowdfunding, and the company failed to provide them with products. Anqiao commented on the same day that "it explored all possibilities in order to maintain the company, but failed to pay off its debts". The word "Onkyo" means "sound" in Japanese. For a long time, anqiao's sound, power amplifier and home theater products have been widely welcomed by hifi lovers. However, in the 21st century, with the popularity of iPod and smart phone, the era of digital music has come. Anqiao has not responded to changes in time, and has fallen into the dilemma of deteriorating performance and insolvency in the capital market. Anqiao's dilemma has been visible since 2019. In May 2019, the company announced that it would sell its home audio-visual business to sound united, an American sound company, at a price of about 8 billion yen (about 1.3 billion yuan), but the deal was not negotiated and the agreement was cancelled in October of the same year, which also led to anqiao's insolvency in fiscal year 2019. Since then, anqiao has also sought the help of the capital market. In the two years from 2020 to 2021, anqiao saved itself by issuing new shares and seeking capital increase. It was originally expected to raise up to 6.2 billion yen, but only 1.2 billion yen was raised in the end. On March 31, 2021, anqiao announced its delisting and was delisted in August of that year. In September 2021, in order for the company to survive, anqiao sold its most important home audio-visual business to sharp and its American counterpart Voxx. The joint venture between sharp and Voxx will continue to use the "Onkyo" brand, which is produced by sharp and sold by Voxx. In other words, "Onkyo" audio will remain in the market in the future. (Xinhua News Agency)