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- Chief Business Intelligence
- Chief Business Intelligence
Introduction: Unable to make the money of a noblewoman, the "first share of bird's nest" began to make money from young people. It's a pity that young people have limited consumption power and can't support the ambition of Yanzhiwu.
A business that seems to make a lot of money, but does not make a lot of money, is reflected in Yanzhiwu.
In this year's 520, Yanzhiwu officially announced the "top star" Wang Yibo as the global brand spokesperson, and the male endorsement of noble women's health products, Yanzhiwu undoubtedly took a fancy to the appeal of traffic male stars.
After all, on Weibo alone, Wang Yibo has 40 million+ fans.
Under the magical fan economy, although everyone knows that "the wool comes from the sheep", it does not prevent fanatical fans from spending money to "buy, buy, buy" for their favorite stars.
Yanzhiwu's performance in the first half of this year disclosed that the company's revenue increased by 11.36% to 1.059 billion yuan.
I have to say that Yanzhiwu has indeed harvested young consumers, and Yanzhiwu also admitted in the official financial report that the company has more young customers, so it has brought sustained growth vitality.
It's just that behind the seemingly dazzling performance, Yanzhiwu also has its own hidden worries!
Plummeted by 42%!
"The first share of bird's nest" can't cut the lady?
Recently, Yanzhiwu disclosed its financial report for the first half of 2024.
In the first half of 2024, Yanzhiwu's revenue will be 1.059 billion yuan, a year-on-year increase of 11.36%, exceeding the scale of 1 billion in one fell swoop.
In terms of channels, Yanzhiwu's online channels increased by 21.89% year-on-year to 641 million yuan, accounting for 60.49% of the company's total revenue.
Seeing this, Yanzhiwu's performance is quite good, and it seems that the performance of the listing for half a year does not seem to disappoint investors.
However, if you continue to look at the net profit of Yanzhiwu, you will find that it has directly changed its face.
In the first half of the year, Yanzhiwu's net profit attributable to the parent company was only 58.08 million yuan, a decrease of 42.54% from 101 million yuan in the same period in 2023.
Net profit margin also decreased to 5.67% from 11.29% in 2023, and earnings per share were RMB0.12, nearly halved from RMB0.23 in the same period in 2023.
The first financial report of only half a year after the listing showed a decline in profits.
I think that for the IPO, Yanzhiwu tossed back and forth for 13 years, "repeatedly jumped horizontally" between A-shares and Hong Kong stocks, and submitted a total of 5 listing applications, before finally knocking on the capital door on December 12, 2023 and becoming the "first bird's nest stock".
After 13 years of IPO, Yanzhiwu finally got its wish, and in the first few years of listing, Yanzhiwu's performance can be described as thriving.
From 2020 to 2023, Yanzhiwu's net profit will be 123 million yuan, 172 million yuan, 206 million yuan and 212 million yuan respectively.
At the beginning, it was successfully listed with such a beautiful report card, but who knew that after half a year of listing, it would "change its face", as if it had taken off its disguise all of a sudden, and its performance began to thunder.
But after thinking about it, most of the listed companies are also this kind of virtue, before the listing of the performance of the packaging of the beautiful bright, after the listing to raise a large amount of money, they can make a lot of money, uncomfortable is the hard work of saving money investors.
The "IQ tax" controversy that can't be avoided
Is the lady beginning to "wake up"?
Although it is not as good as the average gross profit margin of 91% of Moutai, the gross profit margin of bird's nest as a profiteering business is also maintained at an average of more than 50%.
Yanzhiwu's revenue has also reached the level of 1 billion, and there is a gross profit margin of more than 50%, why is it not profitable?
From 2020 to 2023, the corresponding gross profit margins of Yanzhiwu will be 42.7%, 48.2%, 50.8%, and 50.7% respectively
Increasing income does not increase profits, it is nothing more than spending too much money. So, where did the money go to the House of Swallows?
In Yanzhiwu's financial report, there is a data that cannot be ignored, that is, sales and distribution expenses.
From 2020 to 2023, the sales and distribution expenses of Yanzhiwu will be 317 million yuan, 399 million yuan, 504 million yuan and 563 million yuan respectively.
In the first half of this year, this figure came directly to 365 million yuan, 101 million yuan more than the same period last year, an increase of 38.45%.
Counting the data of the first half of this year, Yanzhiwu's sales and distribution expenses in four and a half years have reached 2.148 billion yuan, which is about 2.7 times the total net profit in the past four and a half years.
As for the reason for the increase in sales expenses this year, Yanzhiwu also explained, saying that the high expenditure of the new spokesperson has caused more money to be spent.
As we all know, in order to create its high-end positioning, Yanzhiwu is very willing to spend money on inviting spokespersons.
That's "Gonghuang"! If you can let all the international superstars go down to earth, you will know how hard Yan Zhiwu has worked to harvest the noblewoman!
invited a big star, of course, it has to be hyped, so Yanzhiwu also carried out large-scale publicity in the same period, and of course it is inevitable to spend money on advertising.
Therefore, under the high marketing expenses, the gross profit margin of Yanzhiwu has been greatly eroded, which in turn has affected the company's profit level!
However, there is no way, the characteristics of the health care products and tonic industry are that they need to burn money on a large scale, constantly advertise to occupy the minds of consumers, and rely on the effect of celebrities and Internet celebrities to reduce consumers' doubts.
is like the "first brother of health care products" Tomson Beijian, and his life is not much better.
In the first half of this year, Tomson Beijian's revenue and net profit both declined! The company's operating income was 4.613 billion yuan, a year-on-year decrease of 17.56%; The net profit attributable to the parent company was 891 million yuan, a year-on-year decrease of 42.34%.
Not long after this semi-annual report was issued, on August 6, Tomson's stock price also fell! fell below 12 yuan, a new low since 2020!
As a company that has been established for more than 20 years, Yanzhiwu is still advertising frantically, and it is not difficult to see that it is still difficult to convince the public of bird's nest.
Eating bird's nest = paying IQ tax, which is a point that many people should agree with.
Therefore, when the consumption power is sluggish and new stories are exhausted, it is difficult for noble ladies to be brainwashed, or they begin to wake up.
When there is no money, there are dispensable things, and all the things can be without.
However, the most incomprehensible thing is that it is clear that bird's nest has been proven to have little effect, how can so many leeks still be harvested?
Everyone understands the truth
But it is to sink into the "emotional value" given by the brand
Bird's nest is eaten by rich people, and this is everyone's first impression of it.
In the marketing of the bird's nest brand, bird's nest has always been positioned as a high-end tonic, not only Yanzhiwu invited Gong Li, but also Xiaoxian Stew next door invited Zhang Ziyi, and the spokespersons invited by Yanzhiwu are all well-known popular stars, such as Carina Lau, Zhao Liying, Lin Chiling, etc.
even invited many female celebrities to bring goods "intentionally or unintentionally", including Yao Chen, Xiong Dailin, Ah Sa, etc.
After such a "brainwashing", after eating bird's nest, you will become as beautiful as a female star, and after eating bird's nest, you will look as old as a female star......
Subtly, the concept of "bird's nest = nourishing and beauty" has taken root in the hearts of consumers, "I want to eat everything that female celebrities eat!" ”
Hu Ke once said that the eldest of his family is whiter than the second child, because he eats more bird's nest during pregnancy, which seems to be that DNA is not worth mentioning in front of bird's nest!
If you are "brainwashed" for a longer time, this wallet will not be able to be covered!
What's more, the marketing of the bird's nest brand also accurately pokes at women's "anxiety business", such as "women should be kind to themselves, don't wait for others to love you", "to be a calm woman, you have to eat freshly stewed bird's nest" and other promotional copywriting, full of emotional value to provide.
Under the overwhelming marketing of women's anxiety, women will buy bird's nest to eat if they love themselves, and women will buy bird's nest to eat if they make themselves noble.
Otherwise, there are more foods that moisten the lungs and complement the body, and it is also a medicinal diet that has been verified to be able to maintain health, but there is no tonic that can sound so high-end and luxurious like bird's nest, as if drinking jade liquid elixir.
Therefore, this is the power of marketing, and the ladies are also willing to indulge in the "perfect marketing" of the brand, find emotional value from bird's nest, heal the soul, and satisfy themselves.
What's more, women's "anxiety business" will never disappear, "her economy" will always be hot, and bird's nest brands can at least rely on this business to ensure their long-term prosperity and wealth.
Is bird's nest nutritious?
To be honest, there is no nutrition in bird's nest, but not much. And the nutritional value may not be as "high" as eggs or milk.
The nutritional value of bird's nest is mainly sialic acid and protein, and since protein is not a scarce ingredient, the value of bird's nest lies in its sialic acid.
In 2020, the Xiaoxian stewed brand was counterfeited by Wang Hai, who said that the nutritional content of Xiaoxian stewed bird's nest is negligible, pointing to it as a pure IQ tax, and it is sugar water dressed in bird's nest.
Wang Hai's fake Xiaoxian stew, a bottle contains 0.06 grams of sialic acid, and an egg has 1.5 grams, which means that 25 bottles of Xiaoxian stew is equivalent to an egg, but the price is 6975 yuan.
Or to put it more heartwarmingly, 6975 yuan is just to buy an egg.
Moreover, this sialic acid, in fact, can also be synthesized by the human body, and it is not a unique ingredient of bird's nest, and can also be ingested in milk, eggs and animal meat.
More than 97% of the bird's nests sold by many brands on the market are sugar water and thickeners, and the sialic acid and protein content are less than a few cents of eggs and a few dollars of milk.
But well, the rich woman is not bad for this money, the biggest value of this high-end product is the existence of a social hard currency, and the rich woman buys it as a symbol of quality life, with face and lining.
What's more, in order to pursue profits, some merchants even process and even counterfeit "wild" bird's nests, endangering human health.
But in any case, as a listed company, making money is king, in order not to disappoint investors, Yanzhiwu still has to think about how to increase profits and reduce advertising and marketing spending, so that the price of the product matches the real value.
Have you ever drunk Tsubame House, do you think it's an IQ tax or a tonic? What do you think? Welcome to leave a message in the comment area to discuss and express your opinions or opinions, thank you.
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