"Selling 1 billion cups a year, the cups can be connected to circle the earth 3 times."
The magic advertising slogan makes Xiangpiaopiao milk tea a common memory of a generation.
There is a saying, "If happiness can be measured, then it is exactly what milk tea looks like."
However, as the originator of instant milk tea, the fragrance of "the first strand of Chinese milk tea" has not been good in recent years.
01
How many "milk tea gold" does Xiangpiaopiao have?
With the passage of time, more and more rich second generations have now appeared on the stage of the mall, among them, there are many female successors, such as Wahaha second generation Zong Fuli, Country Garden second generation Yang Huiyan, Libai Miss Chen Danxia and so on.
Who is Xiang Piao's successor?
In fact, as an enterprise with a strong family atmosphere, Xiangpiaopiao's successor should be "milk tea qianjin".
But the strange thing is that Xiangpiaopiao seems to have two "milk tea thousands of gold", and in different media reports, it is called the "only daughter" of the founder couple.
First of all, let's talk about Jiang Yaojia, who was once one of the four young people in the capital, who was once complained about.
Jiang Yaojia, also known as Jiang Yiqiao and Jiang Yaojia. According to the data, born in 1994 in Huzhou City, Zhejiang Province, she attended Cambridge International High School in Hangzhou Foreign Chinese School, and after graduating from high school, she was admitted to hollywood conservatory of music and Berkeley Conservatory of Music.
Many people first met Jiang Yaojia through the 2014 "Good Songs of China" program. Since her debut, Jiang Yaojia has participated in many singing competition programs, such as "I Am a Singer Who Comes to Kick the Pavilion", "The Voice of Dreams", "The Masked Singer Will Guess", "Our Song" and so on.
With the increase of exposure, Jiang Yaojia's life has also attracted the attention of the melon-eating masses.
According to media reports, Jiang Yaojia is the daughter of Jiang Jianqi, the head of the Xiangpiaopiao Group, and is an out-and-out rich second generation and "milk tea is golden".
In the media interview, Jiang Yaojia was also questioned about the identity of "Xiangpiaopiao's boss Qianjin", whether it caused trouble?
In 2015, Weibo user @Changchun Guomao broke the news that Jiang Yaojia took out 10 million yuan from her savings and earned 50 million yuan in only three months.
The singer has become a "stock god", and the span is too large, could it be that he has inherited the business predator talent of his father Jiang Jianqi?
In addition, I have always thought that Jiang Yaojia has always been a "dream girl", but when she participated in "Dear Inn", she said because of an unusual "crying poverty", saying that "the key is what I love, it has no way to support my life".
In the end, he was spat at by Wang Ke, the husband of Liu Tao, who was once one of the four young people in the capital, "You can live a low-key life."
But some netizens broke the news that in fact, this high-profile "milk tea qianjin" is not Jiang Jianqi's daughter. There is a theory that the two are not related, but there are also claims that Jiang Yaojia is Jiang Jianqi's brother and the daughter of Jiang Jianbin, Xiangpiaopiao's second largest shareholder.
Let's talk about another "milk tea qianjin" mentioned in Xiangpiaopiao's financial report - Jiang Xiaoying, her life trajectory is completely different from Jiang Yaojia.
According to the announcement of Xiangpiaopiao, Jiang Xiaoying is the daughter of Jiang Jianqi and Lu Jiahua, the founders of Xiangpiaopiao.
Since there is an "explanation of shareholder affiliation or concerted action" in the annual report information, Jiang Xiaoying's identity as "milk tea and gold" has been completely confirmed.
And the post-90s Jiang Xiaoying, like many rich second generations, received a good education since childhood, graduated from Zhejiang University, and also stepped into Lakeside University, becoming a member of this famous business school and a disciple of Jack Ma.
During her college years, Jiang Xiaoying also started a business as a student, registered a public account "snail camp" on Renren.com, and did a business of renting camping equipment.
In 2014, Jiang Xiaoying launched the camping booking management platform "Easy Camping", and within 4 months after going online, she made users from 0 to 100,000, with a transaction volume of nearly 1 million yuan.
In September 2015, Yi Luying received a Series A financing of 10 million yuan, with a valuation of 50 million yuan.
At the beginning, Jiang Xiaoying joined Xiangpiaopiao as the "General Manager of the Internet Innovation Center" and was responsible for e-commerce and new media operations.
Later, in view of the characteristics of young people who like the new and dislike the old, she launched a customized and seasonal milk tea flavor on the mainstream e-commerce platform.
It is reported that in 2018, the sales of Xiangpiaopiao's e-commerce sector were close to 80 million yuan, which doubled by 80 times compared with her return, and as a result, this "milk tea qianjin" has gained real recognition within Xiangpiaopiao.
The experiences of the two "milk tea thousands of gold" are very different, and their attitudes towards succession are also different.
When participating in "Dear Inn", Jiang Yaojia mentioned that she and her parents "agreed to use 5 years to prove themselves", revealing that they did not seem to want to inherit the family business.
But in an interview, in the face of the question of whether to succeed, Jiang Xiaoying once admitted that if she has the ability to achieve, she is willing to take on this responsibility; at the same time, she also said: "If my ability is really not enough, then we will also consider using another way to achieve a long-term foundation and a long-term survival of the enterprise." ”
In addition, Jiang Yaojia recently posted an intimate photo of herself and her mother on Weibo:
Compared with the photo of Jiang Xiaoying's mother, Lu Jiahua, it seems that it is not the same person.
emmm, as if discovering a secret...
02
The fragrance of "lack of money"?
Two entrepreneurships, Ma Yun's disciples, and the soaring sales of the Xiangpiaopiao e-commerce platform after joining the company... As the "milk tea thousand gold" of Xiangpiaopiao Group, Jiang Xiaoying's ability is obvious to all.
However, Jiang Xiaoying seems to be very "short of money".
According to the first quarter of 2020, Jiang Xiaoying holds 18 million shares of the company, accounting for 4.3% of the total share capital.
In December 2018, Jiang Xiaoying pledged all 18 million shares held by her to Yunnan Trust, with a pledge period of 2 years, and the purpose of the pledge was personal capital needs.
And like Jiang Xiaoying, who looks "short of money", there seems to be the Xiangpiaopiao Group.
According to Xiangpiaopiao's first quarter report in 2020, the company's short-term borrowings increased by 234 million yuan at the end of the first quarter compared with the beginning of the year.
But what is confusing is that in the same time period, the trading financial assets of Xiangpiaopiao at the end of the first quarter increased by 240 million yuan from the beginning of the year, an increase of 58%, and Xiangpiaopiao's statement was caused by the increase in the purchase of wealth management products.
While borrowing money, buying wealth management products, is it because the income of wealth management products is higher than the interest on borrowing?
What is even more puzzling is that in fact, Xiangpiaopiao is not bad at all.
As of the end of the first quarter of 2020, the monetary funds on Xiangpiaopiao's books were 1.041 billion yuan, the trading financial assets were 650 million yuan, and the total of the two assets was 1.691 billion yuan, accounting for 41.36% of the total assets.
According to the notes to the annual report, most of the company's monetary funds are bank deposits, and most of the trading financial assets are bank wealth management products.
Some media reported that the reason why Xiangpiaopiao did not use monetary funds and borrowed money instead may be due to the restriction of some bank deposits. At the end of 2019, Xiangpiaopiao's restricted monetary funds were 158 million yuan, due to mortgages, pledges or freezes that restricted the use of them.
But there are 1.041 billion yuan of monetary funds on the books, and even if the restricted 158 million is subtracted, there is still 883 million. And put a large amount of deposits do not use, but while engaging in financial management, while borrowing, Xiangpiaopiao's operation is really incomprehensible.
03
Fragrant plight
In fact, behind the operation of "milk tea thousands of gold" and confusing borrowing, Xiangpiaopiao may have fallen into operational difficulties.
Affected by the epidemic, the revenue and net profit of A-share soft drink listed companies in the first quarter - Chengde Lulu, Xiangpiaopiao, Weiwei shares, and Yangyuan Beverage have fallen sharply. Among them, Xiangpiaopiao is the only company that has turned from profit to loss.
According to the first quarter report, Xiangpiaopiao's revenue in the first quarter of this year was 400 million yuan, a decrease of 48.61% over the same period last year; while the net profit turned from profit to loss, with a loss of 86 million yuan.
Specifically, the sales of Xiangpiaopiao's various products have mostly appeared in the situation of waist chopping.
In the early years, in the layout of the product, Xiangpiaopiao has been making a fuss about brewing milk tea, although a lot of new flavors have emerged, but the product types have not been innovative, and Xiangpiaopiao has been saddled with the hidden danger of "too single product structure".
In order to solve this problem, Xiangpiaopiao has been trying to develop more products, including the sub-brand "MECO" launched in 2017.
After the launch of "MECO", two liquid milk teas were first launched: MECO Milk Tea, Lanfangyuan; followed by three fruit juice teas: peach grapefruit, Thai lime, and kumquat lemon. Among them, fruit juice tea has become the main product of Xiangpiaopiao in recent years.
In the first quarter of 2019, the revenue of juice tea was 170 million yuan, accounting for 20% of Xiangpiaopiao's total revenue, which was considered to be expected to be called another flagship product of Xiangpiaopiao.
But unexpectedly, the excellent performance of juice tea is only a flash in the pan, since last year, the product quality problems related to "MECO" juice tea have occurred repeatedly.
In September and October 2019, a consumer in Jinhua, Zhejiang Province, and Mr. Zhang, a Shanghai citizen, successively "stroked" and drank a foreign body in the juice tea.
Image source: New Weekly
Since the beginning of this year, on the consumer complaint platform black cat complaints, there have also been consumer complaints about drinking foreign bodies from juice tea.
The poor quality of the juice that has been pinned on high hopes is worrying, and the reputation among consumers is getting worse and worse. In the first quarter of this year, the sales volume of juice tea plunged by 49.83% compared with the same period last year.
In addition, in addition to the plight of the product, since the beginning of this year, the senior management of Xiangpiaopiao has also changed greatly.
Since March, four senior executives in key positions have left Xiangpiaopiao, namely:
On March 4, Feng Yongye, employee representative supervisor of the Board of Supervisors of Xiangpiaopiao, resigned;
On March 21, Yu Qimi, the shareholder representative supervisor of the Board of Supervisors, submitted his resignation report;
On March 28, Gou Zhenhai, secretary of the board of directors and deputy general manager, resigned;
On April 7, Mr. Cai Jianfeng, a director and deputy general manager of the company, resigned due to personal reasons.
Among the senior executives who left the company, Gou Zhenhai, the former director, secretary of the board of directors and deputy general manager, reduced his holdings of the company's shares several times in September last year and March this year, accumulating more than 420,000 shares, accounting for 0.1% of the company's total share capital, and cashing out about 12.2 million yuan.
For the personnel changes of Xiangpiaopiao, some analysts believe that perhaps "there have been differences within Xiangpiaopiao, and the departing executives are not optimistic about the future development prospects of Xiangpiaopiao." ”
Conclusion
Years ago, fragrant instant milk tea had its own highlight moments, so much so that when we think of it now, we still think of that brainwashing slogan.
However, with the rise of more and more milk tea upstarts such as Xi Tea, Nai Xue's Tea, and a little bit, Xiangpiaopiao's single and self-contained defects over the years have led to its increasing lack of market.
Coupled with its own problems such as business difficulties and product quality, the decline of the "first share of Chinese milk tea" xiangpiao is actually reasonable.
I just don't know how many times the cups can circle the earth when they are connected?