Timeline of Chinese Brands (April 2024)

"Memorabilia of Chinese Brands" is a regular research project of the Brand Alliance Development Research Center. Since January 2008, the brand alliance has begun to observe, sort out and summarize, and announce the brand events of the previous month at the beginning of next month for the major events of Chinese brands that occurred in the current month and that year; From April 2022, the brand alliance will be jointly compiled and released by Sino-Singapore Jingwei.

"Memorabilia of Chinese Brands" aims to help people understand the development trends of Chinese brands, learn from the development experience of Chinese brands, share the development experience of Chinese brands, analyze the development trend of Chinese brands, and help Chinese brands develop better and faster.

Summary of China's top 10 brand events in April 2024

01. Xiaomi car became a hit when it was first released, Lei Jun triggered the butterfly effect of the car rim [industry brand]

02. Consumer Expos and Canton Fairs have been held one after another, and foreign-funded enterprises embrace China's business opportunities [exhibition brand]

03. New energy vehicles account for more than half of the sales, and those who buy fuel vehicles are already a minority [industry brand]

04. Ma Long's reversal was crowned the World Cup and won the thirtieth world championship [character brand]

05. Founder Lu Zhengyao was forced to be held on again, and Cudi Coffee is still expanding [character brand]

06. Tea Baidao successfully landed on the Hong Kong Stock Exchange and became the first share of franchised tea drink [corporate brand]

07.The 30th anniversary of China's Internet access has become the world's largest Internet market [industry brand]

08. Bubble Mart's performance in the first quarter is gratifying, and the new trendy toys continue to sell well [corporate brand]

09. The three leading e-commerce companies enter the short drama and take multiple measures to support the content war [Brand List]

10. The sales volume of Dongpeng special drinks has increased year by year, and the operating income has crossed the threshold of 10 billion yuan [corporate brand]

The first release of the Xiaomi car became a hit

Lei Jun caused the butterfly effect in the rim

[Nature of the event: industry brand]

Under the splashing traffic, Xiaomi Auto has handed over a dazzling report card. As of April 25, the number of Xiaomi SU7 orders has reached 75,723, and the delivery volume in the first month has reached 5,781. Lei Jun even announced twice at the 2024 Zhongguancun Forum Annual Meeting and the Beijing International Auto Show on April 25 that the delivery target of Xiaomi SU7 in 2024 is 100,000 units. 100,000 units has always been the threshold for new car-making companies, and second-tier new forces such as WM and Aiways have not yet delivered 100,000 vehicles, and the enterprises have become unsustainable; Among the new car companies that have temporarily gained a foothold, it took Tesla 12 years and NIO 3 years to complete the delivery of 100,000 vehicles.

On March 28 this year, Xiaomi Auto was officially released, which rolled up huge traffic in the car rim, and everyone gradually benchmarked Xiaomi in marketing. On April 8, at a technology conference of Zhiji Automobile, co-CEO Liu Tao "deeply bound" Zhiji L6 and Xiaomi SU7. On April 15, Wei Jianjun, chairman of Great Wall Motors, made his live broadcast debut. On the same day, Xia Yiping, CEO of Jiyue Automobile, brought Robin Li, CEO of Baidu, to experience Jiyue 01 live. On April 22, Li Auto announced price reductions for all its products, including the L7, L8, L9 and MEGA. The launch of the Xiaomi SU7 has also attracted the attention of overseas media such as the United States, Britain and Japan, and Japanese experts said that "the shock of the Xiaomi car launch is comparable to that of Jobs's release of the first iPhone". On April 28, Lei Jun said in the live broadcast of CCTV news that everyone should maintain healthy competition and reasonable competition in the process of competition, and "don't make some small moves in private".

The Canton Fair was held one after another

Foreign-funded enterprises embrace business opportunities in China

[Nature of the event: exhibition brand]

From April 13th to 18th, the 4th China International Consumer Products Expo with the theme of "Sharing Open Opportunities and Creating a Better Life" was successfully held in Hainan. As the largest consumer boutique exhibition in the Asia-Pacific region, the 4th CICG has reached a record high, with a total exhibition area of 128,000 square meters, with more than 4,000 consumer boutique brands from 71 countries and regions participating in the exhibition, and nearly 60,000 professional buyers. Among them, the United Kingdom, Mongolia, Malaysia and other countries participated in the exhibition for the first time, and many international head brands of subdivided industries participated in the exhibition for the first time. As the guest of honour at this year's Consumer Expo, 50 brands from Ireland brought more than 200 exhibits to communicate face-to-face with merchants and consumers at the exhibition site and obtain feedback.

On April 15, the 135th Canton Fair opened in Guangzhou. This year's Canton Fair will fully resume offline exhibitions, and the fourth phase of the exhibition hall will be opened for the first time, and the scale of the exhibition will reach a new high: this grand event, known as "China's first exhibition", a total of 246,000 overseas buyers from 215 countries and regions participated in the offline exhibition, an increase of 24.5% over the previous session, a record high. According to statistics, this year's Canton Fair received 160,000 buyers from countries that jointly built the "Belt and Road", an increase of 25.1% over the previous session; 50,000 buyers from Europe and the United States, an increase of 10.7% over the previous session; The offline export turnover was 24.7 billion US dollars, and the online platform export turnover was 3.03 billion US dollars, an increase of 10.7% and 33.1% respectively over the previous session. It is reported that after the conclusion of the offline exhibition of this Canton Fair, the online platform will continue to operate normally; The 136th Canton Fair will be held in Guangzhou in three phases from October 15 to November 4 this year.

New energy vehicles accounted for more than half of the sales

Buyers of gasoline vehicles are already in the minority

[Nature of the event: industry brand]

On April 19, the entry "people who buy fuel cars have officially become a minority" rushed to the hot search list on Weibo, once topping the list, causing heated discussions among the majority of netizens. The background of the event is: According to data from the China Automobile Dealers Association, from April 1 to 14, the mainland new energy passenger car market retailed 260,000 units, a year-on-year increase of 32%. In the first half of April, the retail penetration rate of new energy passenger vehicles was 50.39%, surpassing that of traditional fuel passenger vehicles for the first time. This means that for every two passenger cars sold in the market, one is a new energy vehicle. So far, the target of more than 50% penetration rate of new energy vehicles in 2035 set by mainland China in 2020 has been completed 11 years ahead of schedule. At the China Electric Vehicle 100 Forum in March this year, BYD Chairman Wang Chuanfu predicted that the penetration rate of new energy vehicles will exceed 50% in the next three months. In less than a month, his prediction came true.

In the past 20 years, new energy vehicles have developed at an astonishing speed. From 2005 to 2015, it took China 10 years for the penetration rate of new energy vehicles to exceed 1%. Around 2015, the first batch of new car-making forces such as WM, NIO, Xiaopeng, Li and Leapmotor were established successively. From 2016 to 2019, the penetration rate of new energy increased to 5%. During this period, the mass production and delivery of new car manufacturers made Tesla officially began local production in China. Stimulated by the "catfish", traditional car companies have accelerated the transformation of new energy, invested a lot of resources at any cost, and cooperated with Internet and intelligent driving companies. After 2020, China's new energy vehicle market ushered in an explosive increase, with the penetration rate exceeding 14% in 2021, 27% in 2022, and 33% in 2023, exceeding the industry's expectations.

Malone was crowned the World Cup in a big reversal

Won the thirtieth World Championship

[Nature of the event: character brand]

On the evening of April 21, in the men's singles final of the 2024 Macau ITTF World Cup, the 35-year-old Ma Long staged a Jedi counterattack after falling behind 0-3, defeated teammate Lin Gaoyuan 4-3, won the World Cup men's singles championship for the third time, and won the 30th world championship of his career. "I played very well with Gao Yuan in this final, I never thought I could win the championship all the way, I said before that I could complete my dream even if I entered the top four, and everyone could feel that I played very relaxed in the semi-finals, and in this final, I am grateful that I did not give up when I was 0-3."

He is the first "Super Slam" male player in the history of table tennis to win the Olympic Games, the World Table Tennis Championships, the World Cup, the Asian Games, the Asian Championships, the Asian Cup, the Tour Finals, and the National Games, as well as the record holder for the most months and the longest consecutive months in the ITTF Men's Singles World No. 1 rankings. He won five gold medals at the Olympics, including men's singles titles at Rio 2016 and Tokyo 2020. In the World Table Tennis Championships, Ma Long is even more dominant, winning a total of 14 championships, which is a rare achievement in the history of table tennis; In the World Cup, Malone also won 11 titles.

The founder, Lu Zhengyao, was forced again

Cudi Coffee continues to expand

[Nature of the event: character brand]

On April 7, according to Tianyancha's legal litigation information, Lu Zhengyao, the founder of Cudi, and his partner Li Huan were listed as the persons subject to execution by the Beijing Fourth Intermediate People's Court, with an enforcement target of more than 1.896 billion yuan. In addition, Lu Zhengyao has three pieces of execution information in March 2023, July 2023, and January 2024, with a total amount of more than 1.1 billion yuan - plus the new execution information on April 7, nearly 3 billion yuan has been executed in about a year.

Lu Zhengyao has successively founded many well-known brands such as Car Rental, Luckin Coffee, and Cudi Coffee, and is a well-known billionaire. In April 2020, Luckin Coffee exposed financial fraud, with a fictitious amount of 2.2 billion yuan, and Lu Zhengyao had to resign as chairman. On February 26, Cudi Coffee officially announced that when the number of stores worldwide reached 7,000, it would launch a full-time unlimited and unlimited 9.9 yuan promotion for a period of 3 months. On April 7, Cudi Coffee's first store in the United States opened in Hawaii, and Cudi has entered more than 10 countries and regions around the world. In an internal letter released in October last year, Qian Zhiya, chairman and CEO of Cudi Coffee, put forward the strategic goal of reaching 20,000 stores worldwide by 2025. To achieve this goal, Cudi Coffee must maintain an average annual rate of 6,500 new stores for two consecutive years. But the reality of rapid expansion has begun to emerge, and Cudi Coffee's future is bound to be challenging.

Tea Baidao successfully landed on the Hong Kong Stock Exchange

Become the first share of tea drinking

[Nature of the event: corporate brand]

On April 23, Tea Baidao officially landed on the Hong Kong Stock Exchange, becoming the second listed company of new tea drinks after Nai Xue, the "first share of franchised tea drinks" to land on the Hong Kong Stock Exchange, and the largest IPO of Hong Kong stocks in 2024 so far. As of April 5 this year, Chabaidao has a total of 8,016 stores, including 8,010 franchise stores, covering all provinces and cities in 31 provinces and cities across the country. In terms of retail sales in 2023, Chabaidao ranks third in China's freshly made tea shop market, behind Mixue Bingcheng and Gu Ming, with a market share of 6.8%. This year, Tea Baidao sold a total of 1.016 billion cups of drinks, an increase of 27.9% year-on-year. However, the opening of the first day of the tea Baidao listing was broken, the intraday decline once reached 35.2%, the market value evaporated nearly 7 billion Hong Kong dollars on the same day, and fell again after the opening on the 24th, and the stock price has fallen by more than 1/3 as of April 30.

Next, the new tea drink market is expected to come. In January 2024, Mixue Bingcheng and Gu Ming both submitted prospectuses to prepare for listing; On February 14, Shanghai Auntie also submitted a listing application to the Hong Kong Stock Exchange. In the prospectus, Mixue Bingcheng claims to be "China's No. 1 and the world's No. 2 freshly made beverage company", Gu Ming claims to be "the No. 1 market share of popular freshly made tea shops", and Shanghai Auntie is a medium-priced freshly made tea shop brand covering the most Chinese cities. By the end of 2023, the number of Mixue Bingcheng stores worldwide has exceeded 36,000, the number of Gu Ming stores is 9,001, and the number of Shanghai Auntie stores has not yet exceeded 8,000.

30th anniversary of China's access to the Internet

It has become the world's largest Internet market

[Nature of the event: industry brand]

April 20 marks the 30th anniversary of China's full-featured access to the Internet. The Internet Society of China held the "Symposium on the 30th Anniversary of the Development of China's Internet - Seize the Opportunity and Start Again" in Beijing. Zhang Yunming, member of the party group and vice minister of the Ministry of Industry and Information Technology, and Zhao Zhiguo, chief engineer, attended the meeting and delivered speeches. Shang Bing, chairman of the Internet Society of China, presided over the meeting. Tencent's Ma Huateng, Xiaomi's Lei Jun, Sohu's Zhang Chaoyang, 360's Zhou Hongyi, Qi'an Xinqi, Xiangdong and other Internet company leaders all attended the symposium.

In just 30 years, with the rise of the economy, China has had the "New Four Great Inventions" that people are proud of: high-speed rail, online shopping, QR codes and bicycle sharing, the latter three are rooted in the Internet. Today, the market value of China's Internet companies has reached nearly 10 trillion yuan, and nine of them are among the top 30 Internet companies in the world. As of December 2023, China's online retail sales reached 15.4 trillion yuan, ranking first in the world for 11 consecutive years. Today, China has developed into the world's largest Internet market, built the world's largest and technologically advanced network infrastructure, has the world's second largest digital economy, and Internet companies have become a national business card of China.

Pop Mart's performance in the first quarter was gratifying

New trendy toys continue to sell well

[Nature of the event: corporate brand]

On April 22, the first quarter 2024 performance report of "Pop Mart", the first share of trendy toys, showed that the overall revenue of Pop Mart in the first quarter of 2024 increased by 40%-45% year-on-year. Among them, Chinese mainland revenue increased by 20%-25% year-on-year, and Hong Kong, Macao, Taiwan and overseas revenue increased by 245%-250% year-on-year. In offline channels, Pop Mart retail stores increased by 20%-25% year-on-year, and robot stores increased by 15%-20% year-on-year; In terms of e-commerce platforms, Pop Mart continued to strengthen its content to promote growth, and all channels fully resumed growth, with e-commerce platforms and other online platforms increasing by 20%-25% year-on-year, Douyin flagship store increasing by 95%-100% year-on-year, and Tmall flagship store increasing by 0%-5% year-on-year.

The relevant person in charge of Bubble Mart revealed: "In the first quarter of 2024, MOLLY, SKULLPANDA, DIMOO, THE MONSTERS, etc. will all have new series on the market. Zodiac limited fashion toys 'Dragon Yin Xianrui' series, MOLLY instant superpower series, SKULLPANDA comic book series, DIMOO animal kingdom series, THE MONSTERS naughty diary series, CRYBABY× Powerpuff Girls series and other blockbuster new products have good sales, among them, the 'Dragon Yin Xianrui' series has continued to sell well since its launch, and has sold more than one million copies. ”

The three leading e-commerce companies entered the short drama

Take multiple measures to support the content war

[Nature of the event: industry brand]

In recent years, short dramas, as an emerging form of content, have quickly become popular among young people with their compact plots, exquisite pictures, and engaging storylines. Taobao, JD.com and Pinduoduo, the three leading e-commerce companies, have entered the field of short dramas, but there are obvious differences in their short drama strategies. Taobao's short drama section has a heavier layout, focusing on content presentation; JD.com's skits focus on brand customization and merchant promotion; In contrast, Pinduoduo's skit strategy is relatively flexible and practical – there is no separate section, mixed in the information flow of short videos, and recommended to users who like it through big data analysis.

Pinduoduo has been focusing on content construction since last year, and the content-based positions include Duoduo Video and Duoduo Live Broadcast. During 6.18 last year, the second child of Duoduo Live began to encourage businesses with resources in various places to transform into live broadcast service providers. However, the speed of content has not been fast, far less than Taobao, Douyin, etc.; Taobao Shopping and Taobao Short Drama jointly released a "10 billion Taoju Plan" in January this year. Taobao launched more than 10 million cash support, with a maximum support amount of 5 million for a single drama, and at the same time took out tens of billions of traffic to boost and enter the short drama track. According to the data, Taobao has introduced more than 3,000 short drama experts and more than 100 cooperative institutions, with an average daily content exposure of up to 100 million times; At 6:18 p.m. on April 16th, Jingdong Liu Qiangdong landed in the form of "Procurement and Sales of Dongge AI Digital Human" in the form of Jingdong Home Appliances and Jingdong Supermarket Procurement and Sales Live Broadcast Room, and opened his live broadcast debut. The data shows that in less than 1 hour, the number of views in the live broadcast room exceeded 20 million. The live broadcast debut of "Procurement and Sales of Dongge AI Digital Human" also kicked off the prelude to JD.com's official all-out entry into content.

The sales volume of Dongpeng special drinks has increased year by year

The operating income has crossed the threshold of 10 billion

[Nature of the event: corporate brand]

In China's beverage market, an annual revenue of more than 10 billion yuan is a threshold, and more than 10 billion yuan can basically rank in the top 10; If it is more than 20 billion yuan, it has a chance to enter the top 5. According to the financial report, Dongpeng Beverage's revenue in 2021 will be 6.978 billion yuan, and its revenue in 2022 will be 8.505 billion yuan, and Dongpeng Beverage's operating income will increase by 32.42% in 2023, prompting the company's sales scale to expand to 11.263 billion yuan. The sales of Dongpeng Beverage's flagship product, Dongpeng Special Drink series, also exceeded 10 billion yuan for the first time, achieving a revenue of 10.336 billion yuan.

According to Nielsen data, in 2022, the sales volume of Dongpeng Special Drink in China's energy drink market will increase from 31.70% to 36.70%, ranking first in terms of sales volume. In terms of sales, in 2022, the proportion of Dongpeng Special Drink's sales in China's energy drink market will increase from 23.40% to 26.62%, ranking second in sales, second only to Red Bull. Nowadays, China's energy drink market has gradually formed a relatively clear market competition pattern: the first echelon is the traditional "one super three", the first super is Red Bull, and the top three are Dongpeng Special Drink, Lehu and Zhongwo.