Empty cups, empty bags, white water, many well-known brands responded

The fat cat incident detonated the Internet, and many parties paid attention to it.

Today, many topics of tea Baidao rushed to the hot search on Weibo.

The incident was triggered by the topic related to the "fat cat", the god of the e-sports circle on behalf of the Internet. Recently, the 21-year-old "fat cat" jumping into the river in the game circle has attracted attention, and netizens from all over the world have placed orders for takeout through the APP, but they have found empty cups, empty bags, white water and other phenomena.

In addition to tea Baidao, the relevant brands involved also include Wallace, Gongcha, etc. Some netizens broke the news that Wallace's point had an empty package, in response, Wallace's official Weibo said in response to netizens' comments that it had urgently understood the situation and would deal with the stores and relevant personnel involved as soon as possible. Dongfang Gongcha issued a document condemning the empty package of takeaway, saying that the store involved was not operated by the company.

According to a number of netizens, he ordered milk tea for the fat cat and put it by the river, but it turned out that the "Tea Baidao" milk tea was white water. In this regard, Chabaidao released a detailed investigation result, saying that about 40 orders were involved, and the store had been required to fire the employees involved, and deduct the store deposit in accordance with the company's store management system, and close the store to terminate the contract in accordance with laws and regulations. For the orders involved, the stores involved have been required to refund all of them, apologize one by one, and give cash compensation of 10 times the amount of each order in accordance with the requirements of relevant laws and regulations. At the same time, it was decided to donate an additional 1 million yuan to the "Tea Baidao Love Fund" of the Sichuan Youth Development Foundation in the name of "Fat Cat".

Today, in the context of the overall strength of Hong Kong stocks, the overall share price of Chabaidao performed strongly, rising more than 4% in intraday trading, and rose 1.54% to HK$11.84 per share as of the close, down more than 30% from the issue price.

Tea Baidao responded: full refund, one by one apology, 10 times compensation, and an additional donation of 1 million

Chabaidao issued a statement this afternoon to respond to the incident in detail. Chabaidao said that at around 1 a.m. on May 3, Chongqing Luzumiao stores received a number of takeaway orders, and the address information was "Yangtze River Bridge". At that time, the only night clerk in the store was convinced that individual pick-ups "had to deliver food quickly...... Other brands are filled with white water or empty bags ......" and other expressions, using purified water to serve meals without authorization, involving a total of about 40 orders.

Tea Baidao said that the company has always adhered to the values of honesty and integrity. I was shocked and outraged by this act. The store's clerk's unauthorized use of pure water to pretend to be a normal product not only seriously violated the normal production standards of Chabaidao, but also seriously deviated from the values of Chabaidao and crossed the red line of brand management and the bottom line of social morality.

Chabaidao said that at present, the store has been required to fire the employees involved, deduct the store deposit in accordance with the company's store management system, and terminate the contract with the store in accordance with laws and regulations. For the orders involved, the stores involved have been required to refund all of them, apologize one by one, and give cash compensation of 10 times the amount of each order in accordance with the requirements of relevant laws and regulations.

At the same time, Tea Baidao also decided to donate an additional 1 million yuan to the "Tea Baidao Love Fund" of the Sichuan Youth Development Foundation in the name of "Fat Cat" for public welfare projects that care for teenagers.

Tea Baidao broke sharply on the first day of listing

For investors in the capital market, perhaps the deeper impression of Chabaidao is its performance after listing.

On April 23, Tea Baidao, which has the "second share of new tea drinks" in Hong Kong stocks, fell sharply on the first day of listing, falling by more than 38% at the highest point in the session, and fell 26.86% to HK$12.8 per share as of the close of the single day, with a total market value of nearly HK$7 billion on the day.

According to the announcement of Tea Baidao, in 2021, 2022 and 2023, the revenue of Tea Baidao will be 3.644 billion yuan (RMB, the same below), 4.232 billion yuan and 5.704 billion yuan respectively.

In terms of profit, in 2021, 2022 and 2023, the company's adjusted net profit will be 900 million yuan, 967 million yuan and 1.258 billion yuan respectively, with a compound annual growth rate of 21.6%. The company's adjusted net profit was 900 million yuan, 967 million yuan and 1.258 billion yuan respectively, with a compound annual growth rate of 21.6%.

It is worth mentioning that the company is mainly based on franchise stores, and by the end of 2023, the revenue of Chabaidao franchise stores will reach 5.659 billion yuan, accounting for 99.2%, and the revenue of directly operated stores will be 25.84 million yuan, accounting for 0.5%.

As of December 31, 2021, 2022 and 2023 and April 5, 2024, there were 5,070, 6,352, 7,795 and 8,010 franchised stores in the Chabaidao store network, respectively, accounting for more than 99.0% of the total number of Chabaidao stores in operation as of the relevant dates.

In 2023, the total retail sales of Chabaidao stores will reach 16.9 billion yuan, with a total of 1.016 billion cups sold, with an average retail sales of 27.4 yuan per order, an average retail sales of 2.388 million yuan per store, and an average daily retail sales of 6,887.2 yuan.

However, the current competition in China's freshly made tea shop market is fierce. According to Frost & Sullivan's report, in 2023, the market size of China's ready-made tea shop market will be 247.3 billion yuan. In terms of retail sales, the top five players together accounted for about 40.2% of the market share. The Chamomodo brand ranked third with a market share of about 6.8%. In the prospectus, Chabaidao admitted that if it fails to compete effectively with other leading players, or wins the competition, it may have a material adverse impact on the company's operating results, financial condition and business prospects.

After falling sharply on the first day of listing, the share price of Chabaidao continued to fall by nearly 10% the next day, and then fluctuated at a low level. Today, in the context of the overall strength of Hong Kong stocks, Chabaidao once rose more than 4% intraday, and as of the close, it rose 1.54% to HK$11.84 per share, down more than 30% from the issue price, with a total market value of HK$17.495 billion.

Dongfang Gongcha issued a document condemning the empty package of takeaway

On May 3, the Douyin account of Dongfang Gongcha also issued a statement in response to related matters.

1. The main operating company of Dongfang Gongcha is "Hebei Jedi Catering Management Co., Ltd.", and there are no other branches, head offices or authorized companies.

2. The company's operation of tribute tea projects is: "Oriental Tribute Tea" and "Tribute Tea of Dependent Liao", the tribute tea stores involved in Chongqing are not operated by the company, and the tribute tea + prefix or suffix is the complete brand name or trade name, such as XX Malatang, not all Malatang belong to one company.

3. We strongly condemn the occurrence of "empty takeaway packages", which exposes the serious problems of individual businesses in the pursuit of profits, the disregard for consumer rights and interests and the lack of integrity in operation, and also has a serious negative impact on the entire industry and market order.

4. If consumers find a similar situation again, they can directly call the local market supervision hotline for complaints and reports (area code +12315), and we will also cooperate with the investigation of the relevant regulatory authorities.

Editor-in-charge: Wan Jianyi

Proofreading: Yang Lilin

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