Have you heard? The Jinmailang, who used to follow the hot wheels, is going around in circles of capital, like playing a marathon. Obviously, he has a lot of money on his body and has a good reputation, why can't he ring the bell for listing like Master Kong and Unification? You know, it's a lot more complicated than making a pack of instant noodles.
Fan Xianguo, the founder of Jinmailang, is really a ruthless character. Born in 1960, he originally drove a tractor in the village, but later felt that this work was too boring, so he turned around and went to the county seat. After rolling in an old rock sugar workshop, I learned the craft and accumulated experience, so I simply became my own boss and opened a rock sugar workshop. This guy was born to be a businessman, and within a few years, the rock candy business was a hot mess in the local area.
The turning point came, in 1992, Master Kong's braised beef noodles were born, and instant noodles became a popular dish for the whole people. Fan Xianguo smelled the business opportunity and immediately transformed, smashing the pot and selling iron to squeeze into the instant noodle market. The name Hualong Xiaozai, as soon as I heard it, knew that it was the darling of the rural market, the price was close to the people, the quality was high, it was an instant hit, and the revenue rose gradually, breaking 50 million in two years.
However, the good times did not last long, and the bigwigs also set their sights on the fat of the rural market. Fan Xianguo understands that if he wants to survive, he must upgrade his brand and march towards the urban market. As a result, "Jin Mai Lang" was born, Zhang Weijian's sentence "play well, play well, play tastes croaking", it was simply brainwashing, and Jin Mailang's reputation was just started.
However, the heroes can't stand three shifts, and the instant noodle industry is as fierce as the World Cup final. Health awareness has risen, instant noodles have become street rats, the market has shrunk, and Jinmailang has also been bitten hard by the white elephant's "big bone soup noodles". In order to regain the lost territory, Jinmailang launched the "Great Jinye", increasing the amount without increasing the price, and for a while, the rural market was firmly held by Jinmailang.
Jin Mailang's dream of going public is like a big boss in a serial, and he can't be killed no matter how he fights. First, he cooperated with Nissin and Unification, but the result ended in a breakup. In 2017, the revenue exceeded 20 billion, and the listing kick-off meeting was vigorous, but there was no movement. In 2019, I wanted to go public through a backdoor listing, but the money didn't arrive, and the plan fell through again. In 2021, it will be listed again, but it still won't work.
Why is it so difficult to go public? It all starts with its brand image. In the high-end market, Jinmailang has always wanted to squeeze in, but the hat of the "low-price king" can't be taken off, just like you want to go to a luxury yacht party, but you wear beach pants and slippers. In the beverage market, Master Kong and Uni-President have laid out early, although Jinmailang's "Liangbai Kai" is a temporary scenery, but the beverage market has long been a group of heroes, leaving little space for Jinmailang.
Speaking of which, let's take a different look at Jinmailang's performance in the market, which is really full of twists and turns. Jinmailang's strategy is like playing a difficult video game, where you have to dodge obstacles, collect coins, and upgrade your equipment from time to time.
I remember that at that time, the white elephant relied on the big bone soup noodles to set off a huge wave in the rural market, and Jinmailang was caught off guard. But Fan Xianguo, an old man, is not a vegetarian, so he immediately adjusted his strategy and launched "Da Jinye". This trick of "increasing the amount without increasing the price" is like the trick of a martial arts master, as soon as he made a move, the white elephant was deflated, and the rural market was taken back by Jinmailang.
Next, Jinmailang's "one and a half buckets" and "one and a half bags" are even more miraculous, solving the embarrassment of consumers "not having enough to eat and not being able to eat", and accurately hitting the pain points of demand. This series of actions allowed Jinmailang to gain a firm foothold in the Northeast market, and then went south to sit firmly on the third throne in the industry, which is simply a marketing textbook-like operation.
The instant noodle industry is like a never-ending marathon. Master Kong and Uni-President have long been transformed, and high-end products have emerged in an endless stream, and now Mailang's transformation has stumbled. In the beverage market, Master Kong's iced tea, unified rock sugar pear, as well as the group of nongfu springs, Cestbon, and Wahaha, although Jinmailang's "Cool White Kai" is beginning to show its edge, but if you want to swim in this red sea, you have to work harder.
So, the question is, why is it so difficult for Jinmailang to go public? In fact, this matter is inseparable from the brand image. In the eyes of capital, Jinmailang's image of "low-price king" is like an insurmountable hurdle. Even if Jinmailang wants to be high-end, the positioning of the market and consumers is not easy to change, which is like a person who has been wearing jeans for a long time and suddenly changes into a suit, which always makes people feel a little wrong.
However, Fan Xianguo, the head of the family, obviously will not admit defeat easily. He knows that in order to gain favor in the capital market, Jinmailang must have a killer feature. Innovation is the key to this killer feature. Whether it is product innovation or marketing innovation, Jinmailang needs to constantly innovate in order to stand out in the fierce market competition.
The story of Jinmailang is actually a microcosm of many national brands in China. They have struggled in their home market, with their ups and downs. But as long as we insist on innovation and have the courage to break through, we can find our place in the torrent of the times. Whether to go public or not is only a stage of enterprise development, and the real challenge lies in how to continue to grow and how to make the voice of Chinese brands on the global stage.
Therefore, for Jinmailang, the listing may only be a stop on the journey. The real competition lies in whether we can continue to innovate and whether we can always maintain the passion and persistence in the early stage of entrepreneurship in the unpredictable market environment. And this is exactly the common issue faced by all Chinese enterprises and even global brands.
So, what is the future of Jinmailang? Fan Xianguo said it well: "Innovation is king." "If you want to gain a firm foothold in the capital market, you have to have disruptive products and new species. The rise of takeaway platforms and the emergence of self-heating products are squeezing the living space of instant noodles. If Jin Mailang wants to fight his way out, he must continue to innovate and evolve, just like the characters in the game, if he does not level up, he will be eliminated sooner or later.
The story of Jinmailang tells us that no matter how the market changes, as long as enterprises can keep up with the trend and continue to innovate, they can find their own place. As for the listing, that's a later story, after all, listing is not the end, sustainable development is the king.
【Disclaimer】The process and pictures described in the article are all from the Internet, and this article aims to advocate positive social energy and no vulgar and other bad guidance. If it involves copyright or character infringement issues, please contact us in time, and we will delete the content as soon as possible! If there is any doubt about the incident, it will be deleted or changed immediately after contact.