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Patent Auction Results in a Sky-high Price! The Starting Price of Six Patents for Invention Reaches 1.49 Billion Yuan with a Appraisal Price of 2.13 Billion Yuan!
Time:2021-11-12

Since a technology patent of a professor of Shandong University of Technology was sold for 0.52 billion yuan, the starting price of another six patents for invention breaks the record of Alibaba judicial sale recently.

The ownership of the six patents for invention will be sold by the intermediate people's court of Dongying, Shandong province on the Alibaba judicial sale network platform from November 19, 2021 to November 20, 2021 with a starting price of 1.4918532 billion yuan. The six patents for invention include Injection head drawing force facility owned by Shandong Kerui Petroleum Equipment Co. LTD (Kerui Petroleum Equipment Co. LTD).

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It is said that the auction price is the highest one in the history of Alibaba judicial sale of patent. And the reason of this auction is that the creditor of Kerui Petroleum Equipment Co. LTD applies to the court for enforcement since Kerui Petroleum Equipment Co. LTD fails to pay the debt.

 

The starting price is 30% off the appraisal price

 

The six patents for invention whose ownership are sold in this auction are all owned by Shandong Kerui Petroleum Equipment Co. LTD and its related companies. The patents are as following:

 

1. Double-pipe jet uniform gas injection technology and supporting tools for horizontal wells owned by Shandong Kerui Oilfield Services Group Co. LTD.

2. “Combined high-pressure ammonia purification equipment” owned by Shandong Hengye Petroleum New Technology Application Co. LTD.

3. “Hot ammonia gas energy-increasing, viscosity-reducing and production-increasing process” owned by Shandong Hengye Petroleum New Technology Application Co. LTD.

4. “An acid-proof half shaft” owned by Shandong Kerui Petroleum Equipment Co. LTD.

5. “Injection head drawing force facility” owned by Shandong Kerui Petroleum Equipment Co. LTD.

6. “A vehicle-mounted fully automatic intelligent hydraulic workover rig with tubing string erected” owned by Shandong Kerui Petroleum Equipment Co. LTD.

 

According to experts, the application year of these patents is 2014 or 2015. So the expiration year is 2034 or 2035 since the protection period of patents for invention is 20 years.

The starting price, 1.4918532 billion yuan, is 30% off the appraisal price which is 2.1312189 billion yuan. With a margin of 0.1 billion yuan, the appraisal price is 7 million higher than the starting price.

All natural persons and legal persons with complete civil capacity can participate in the bidding.

 

Kerui Holdings Group was filed for bankruptcy liquidation

 

According to Tianyan check APP, Shandong Kerui Petroleum Equipment Co. LTD is established on September 29, 2005, with the registered address at No. 9 Road, Shengli Industrial Park, Naner Road, Dongying District, Shandong Province, and the legal representative is Lv Binchang. Its scope of business includes oil and gas engineering technology services, offshore oil platform engineering and technical services, international oil and gas engineering technical service general contracting, oil and gas exploration and development integration program research, design and technical services, etc. However, it is subjected to enforcement for trust-breaking by the court.

The registered capital of Shandong Kerui Petroleum Equipment Co. LTD is 40 million yuan with Shandong Kerui holding group (Kerui Holding group) holding 99.75% and Li Xuejing holding 0.25%.

And Kerui Holding Group, with the largest shareholder Yang Xian accounting for 32% and Yang Zizheng accounting for 31%, is also subjected to enforcement for trust-breaking by the court.

On March 30, 2021, the applicant, China National Chemical Engineering Sixth Construction Co., LTD., claimed that the respondent Kerui Holding Group could not pay off the debts due, and filed a application for bankruptcy liquidation with the intermediate people's court of Dongying, Shandong province.

Kerui Holding Group raises an objection within the time limit, considering that the respondent does not yet meet the bankruptcy conditions, and requests the court to reject the application for bankruptcy liquidation filed by the applicant according to law.

The intermediate people's court of Dongying, Shandong province confirmed that Kerui Holding Group is established on May 26, 2006 with a registered capital of RMB 100 million yuan. Its scope of business includes petroleum technology, petroleum drilling technology, mining machinery technology investment management, petroleum machinery equipment and sales, etc. As a backbone enterprise in Dongying District, Dongying City, the company is a leading enterprise in petroleum equipment and has a large overseas market. Due to the impact of COVID-19 abroad, the export of petroleum equipment is greatly affected, and the overall operation of the company is facing temporary difficulties. Since government departments have put forward a plan to help to solve the debt crisis of Kerui Holding Group, the intermediate people's court of Dongying, Shandong province did not support the application for the bankruptcy liquidation of Kerui Holding Group.

The sky-high auction price reflects the intangible and quite high value of patents!We can see the significance of patent layout around core technology. Even if an enterprise goes bankrupt, its patents based on technology are still valuable!