The content of this article is written with authoritative information combined with personal opinions, and the source and screenshots of the literature have been marked in the article and at the end of the article, please be aware.
-< > foreword-
On May 8, China's century-old brand Yunnan Baiyao was exposed to the outbreak of the "nest case", and five executives who had served as enterprises were taken away for investigation, including Wang Minghui, the former chairman.
Only two days have passed since the news was revealed, and the market value of Yunnan Baiyao has evaporated by nearly 6 billion, not only is the money gone, but the reputation accumulated over a hundred years is also in jeopardy.
This time, Yunnan Baiyao's "bottoms" may be about to be lost......
Information sources:
Beijing News "Yunnan Baiyao was exposed to the "nest case", and the market value has evaporated more than 6 billion in two days"2024-05-10
-< five senior executives of Yunnan Baiyao>-
When it comes to Yunnan Baiyao, everyone will immediately think of sprays for the treatment of bruises, or Yunnan Baiyao toothpaste, which is becoming more and more expensive.
Since its establishment, it has made a name for itself at home and abroad with a variety of miraculous curative effects, and this national brand with a history of more than 100 years has already become the light of domestic products.
Wang Minghui, who has served as the chairman and president of Yunnan Baiyao since 1999, has also accompanied Yunnan Baiyao through more than 20 springs, summers, autumns and winters.
However, what everyone didn't expect was that Wang Minghui, who had already resigned from all his positions last year, and the executives of Yunnan Baiyao who had stepped down one after another, let the world know two days ago that they had given Yunnan Baiyao a "big gift".
This gift made Yunnan Baiyao's market value drop from 101.282 billion yuan to 95.208 billion yuan in two days, and more than 6 billion yuan per share was squandered by these people in just two days.
On May 8, it was reported that five former Yunnan Baiyao executives, including Wang Minghui, were taken away by relevant departments for investigation from last year to this year.
Information sources:
Economic Observer "Yunnan Baiyao Outbreak Nest Case Former Chairman Wang Minghui and Other 5 Former Executives Investigated"2024-05-08
Among them are Wang Jin, who has served as chief sales officer and senior vice president, Yin Pinyao, chief operating officer, Yu Juan, chief human resources officer, and Yang Changhong, a former director.
It may not be surprising that they have been investigated one after another, but what is surprising is that three of these people have already resigned from their positions for "personal reasons" before their terms of office ended, and even Wang Minghui was in a hurry when he left, leaving without choosing the next term.
A person familiar with the matter said that long before Wang Minghui resigned, these people were taken away for investigation because of "cattiness".
Anyway, after the news was exposed, the reaction of Yunnan Baiyao's market value and stock price is enough to prove that the bottoms of this brand are being lost little by little in the hands of these people.
The previously high "altar" status may no longer be what it used to be.
What's going on here?
-There are early signs of < falling from the altar>-
In fact, as early as last year, Yunnan Baiyao fell into an eventful season.
"Early resignation" and "personal reasons", these words feel weird no matter how you look at them together, who would give up this great job if there was no "pit".
And at that time, Wang Minghui only stayed for four months in the new term and left his post, which is obviously a bit unbelievable.
But looking back now, when the country's medical anti-corruption campaign was in full swing, some clues may be found.
In recent years, time-honored brands of traditional Chinese medicine have been at the center of the storm of medical anti-corruption, and some opportunistic people will naturally not get away with it.
As for what Wang Minghui and these people are involved in, a reporter asked Yunnan Baiyao insiders and learned that they may be related to Yunnan Baiyao's acquisition of Wanlong Holdings.
Information sources:
Investment Express "A number of senior executives of Yunnan Baiyao were investigated and resigned before the expiration of their terms, or involved in the acquisition of Wanlong Holdings"2024-05-11
In 2017, Yunnan Baiyao carried out mixed ownership reform through capital increase and holding, and then acquired Wanlong Holdings, which was the first acquisition case of Yunnan Baiyao after the mixed ownership reform.
In recent years, this Wanlong Holdings has frequently defaulted on borrowers' debts, and their main business is money lending, and Yunnan Baiyao suffered losses in 2022 after the acquisition.
However, Yunnan Baiyao had always explained the acquisition as "improving the level of internationalization", but a few years later, there was a crisis, which left Yunnan Baiyao in a quagmire.
In addition to the fact that senior executives were "put in one pot", the Yunnan Baiyao branch was also involved in commercial bribery last year, and there were various disciplinary violations of important personnel before that.
More importantly, Wang Minghui also had a great controversy when he took control of Yunnan Baiyao, that is, the stock speculation incident.
Information sources:
Red Star News "The former "stock god" Yunnan Baiyao withdrew from the rivers and lakes? once lost nearly 2 billion due to stock speculation! Netizen: Do a good job of your main business"2024-01-18
Since 2021, Yunnan Baiyao has lost most of the investment income earned in the previous three years due to stock speculation, and even after 22 years, such securities investment losses have not stopped.
Of course, Yunnan Baiyao is not only a problem within the company, but also the accident of their products, which has also put the reputation accumulated for a hundred years in jeopardy......
-<100 years of credibility in jeopardy>-
In 2018, Yunnan Baiyao was caught in the whirlpool of public opinion because its toothpaste brand was exposed to contain tranexamic acid, a prescription drug of Western medicine.
The doctor's questioning and the consumer taking it to court caused an uproar on the Internet.
Although Yunnan Baiyao stated that tranexamic acid is a commonly used ingredient in functional toothpaste, it did not elaborate on the dosage of the additive and its main efficacy.
Consumers are naturally not easy to fool, after all, this is related to their own health, so this also makes Yunnan Baiyao fall into false publicity, which undoubtedly has a certain impact on the brand reputation.
Later, there was also a problem with the mask produced by Yunnan Baiyao, which caused it to overturn again, and some netizens even said that the century-old brand of Yunnan Baiyao had changed its taste and became less and less serious.
And all this, if Qu Huanzhang Jiuquan learned about it, he might be heartbroken.
In that year, Qu Huanzhang created Yunnan Baiyao, saved the names of hundreds of people, and made great contributions to the motherland in the War of Resistance Against Japan.
Even in the face of the enemy's threat to hand over the secret recipe, Qu Huanzhang still stuck to his heart and did not hand it over, and this was also exchanged for being placed under house arrest and surveillance.
This also caused Qu Huanzhang to become depressed and died at the age of 58.
After the founding of the People's Republic of China, the Qu family handed over the secret recipe of Yunnan Baiyao to the state, and to this day, this secret recipe is still a secret formula of the state.
Looking back at the efforts made by Mr. Qu Huanzhang for Yunnan Baiyao back then, and then looking at the current predicament faced by Yunnan Baiyao, it is embarrassing.
As a century-old pharmaceutical company, Yunnan Baiyao's real name is not just talking, and the responsibility of revitalizing traditional Chinese medicine is also on its shoulders.
But now, Yunnan Baiyao seems to be becoming more and more unrecognizable, and even fell into the gentle countryside of toothpaste.
The "nest case" is not unexpected, and then Yunnan Baiyao should deeply reflect on whether its original intention is still there, and how to make Yunnan Baiyao revitalize is also a problem that it should consider.
Information sources:
Yangtze River Business Daily "Five Executives of Yunnan Baiyao Were Investigated and Shocked the Industry, Wang Minghui Lost 2.5 Billion in Two Years of Stock Speculation, Causing a Performance Roller Coaster"2024-05-10