"Tea Wall Street" Fangcun has another star tea explosion.
According to the Southern Metropolis Daily, recently, Fancha Holdings (Guangzhou) Co., Ltd. (hereinafter referred to as "Pancha"), which is mainly engaged in Pu'er tea, issued a notice on the restructuring of the company, saying that the board of directors and core distributors discussed the company's debt or equity restructuring.
Behind this announcement, Pancha, which has only been established for two years and is known as the "new dark horse" of the tea industry, is in a thunderstorm crisis. On social platforms, a number of users posted videos to break the news, saying that a large number of dealers have come to the Fancha R&D Center recently, and many people are emotional and shouting "return money".
Image source: Blue Whale Finance
According to the Financial Associated Press, a tea merchant from Fujian told reporters that at the end of last year, Fangcun exploded "Changshi Tea", and tea merchants and investors still have psychological shadows and are more sensitive to such incidents. In addition, general investors invest a lot of money in the early stage, even if they feel that the company has a problem, they do not dare to denounce it too fiercely, and there is a certain fluke mentality.
Fancha announced its reorganization
The thunderstorm incident of Pan Tea has aroused strong repercussions in the tea industry, especially in the tea market of Fangcun in Guangzhou. It is understood that as early as July 22, Fancha suddenly issued an "announcement" saying that recently, the bank accounts of the company and some dealers were frozen, and the bank replied that it is expected to be unsealed in early August 2024. In order to ensure the security of transactions, the company recommends that all platforms and distributors postpone the delivery time of all orders by 10 days.
On July 24, Pan Tea once again issued the "Announcement on Regulating Trading Behaviors", saying that it is strictly forbidden to promise capital preservation and rebate transactions, and adhere to the principle of spot trading.
On August 3, Fancha issued the "Announcement on Restructuring" to dealers, in which the announcement attributed the problems it is currently facing to "rumor attacks", saying that Fancha "has suffered unknown attacks for a long time since its establishment (including: online violent attacks, malicious rumors, slander, intimidation, threats, dealers and employees, etc.). With the steady development in recent years, the research and development of integrity management and landing products have won the support and recognition of many users, and have also gained a certain market share, but the pace of attack has not stopped. ”
The announcement pointed out that the board of directors and core dealers discussed the company's debt or equity restructuring. After the liquidation of the specific restructuring plan, a general meeting of shareholders/dealers will be held to vote, and a notice will be issued after the review and approval.
According to the Southern Metropolis Daily, a person familiar with the matter told reporters, "At present, the explosion of pan-tea is a fact, and the entire Guangzhou tea market is paying attention, and there is no result." ”
Participant: Many people borrow money to roast tea, and people in their sixties and seventies also take out loans
According to Blue Whale News, in the past three years, Pan Tea has been the "star" of Fangcun, claiming that the monthly interest rate is more than 15%, and people who do not buy Pan Tea in Fangcun are under a certain amount of mental pressure......
A senior Fangcun tea shop owner told reporters that the explosion of pan-tea was not sudden, "This is not a serious Pu'er, it is a capital transaction, and it has been operating for several years, and it may explode at any time." He said that the scope of Pan Tea this time is very wide, "Eighty percent of the people around me participated, and there were many people who invested millions of dollars." ”
A participant involved in the "Pan Tea Incident" told reporters that many people in his neighborhood borrowed money to "roast tea": "Many people in our town have taken out loans, many of whom are in their sixties and seventies. ”
Tianyancha shows that Pancha was established in 2021 with a registered capital of 10 million, and the legal representative Zheng Chaogen has established 8 companies in Dongguan, Yunnan and Guangzhou.
Image source: Fancha's official Weibo
According to the company's official website, it is a tea enterprise with old tea as its core product, headquartered in Guangzhou, China, cooperating with 20,000 acres of tea garden base (Yunnan + Fujian), with Panfu Building and more than 500 physical stores; More than 90% of the members of the pan tea team are post-90s and post-00s, and their cultural literacy, innovation ability, collaboration ability, and execution ability are higher than those of their peers.
Screenshot of the company's official website
Zheng Chaogen previously said in public: "The original intention of Pan Tea is to make China's luxury tea, not to make tea for hype, and what Pan Tea will do in the future is a luxury group with Chinese characteristics." Behind this remark, the price of pan tea products can be described as expensive, the price of many products are tens of thousands of yuan, and a "Yilu Changhong" tea cake has been fried to 120,000 yuan. There are also online pictures showing that one of its products called "2021 Yiqi" is quoted as high as 610,000 yuan/mention, which is about 244 yuan/gram.
In addition, as early as the beginning of the company's establishment in 2022, Fancha put forward the "100 cities and 1000 stores" plan, saying that it will deploy the whole country with the channel model of "opening more stores in big cities and opening big stores in small cities", and has opened more than 500 offline stores in less than two years.
It is worth noting that on July 25, Guangzhou Liwan, the official micro-channel of Liwan District, Guangzhou City, issued the "Risk Reminder on Preventing Illegal Fundraising in the Name of "Financial Tea" and "Wealth Management Tea": the business model of "financial tea" and "financial tea" is becoming increasingly popular. In the name of selling tea, tea enterprises sell tea to consumers but do not deliver the physical goods, and promise to repurchase it in the form of principal and interest after a certain period of time.
Official tip: This kind of business model is detached from the essence of commodity trading, and has evolved from normal sales behavior to an investment and financial management behavior that pursues high returns, which hides greater risks and hidden dangers, and may be suspected of illegal fundraising.
The famous Fangcun Tea Wholesale Market, where Pan Tea is located, is under the administrative jurisdiction of Liwan District.