At that time, in the special context of the times, Jiang Peizhen's bold marketing achieved her and Jin's throat. But with the development of society and the improvement of rules, her set has long been unable to keep up with the pace of the times.
| Author: Sui Tang
| Editor: Ah Ye
| Editor: Su Su
China's most "flickering" female entrepreneurs have become the focus again.
Not long ago, the golden throat that made the "national throat lozenge" issued a privatization announcement and wanted to delist Hong Kong stocks. As the "woman behind the back" of the golden voice, the head of Jiang Peizhen has experienced the ups and downs from "legendary female entrepreneur" to "Lao Lai" in the past 30 years.
When she took out all her wealth to save the state-owned sugar factory and launched the well-known golden throat treasure, Jiang Peizhen was also full of spirit. Later, however, she also paid a bitter price for "cheating endorsements" and "relying on advertising fees" in an unbelievable way.
From the blossoming of flowers to the "finger of a thousand men", what has Jiang Peizhen experienced? Maybe she herself didn't understand why she had come to this point.
The Golden Throat Treasure was born
In September 1959, 13-year-old Jiang Peizhen timidly wandered at the gate of the Second Candy Factory (hereinafter referred to as the "Sugar Factory") in Liuzhou City, Guangxi Province. The doorman asked her what was wrong, and her face turned red, but she couldn't say a word. At that time, her mother had just died, which made the family, who was not rich, unable to provide her with education anymore, wanted to come to the sugar factory to get a job to subsidize the family.
But state regulations prohibiting child labor have kept Ms. Jiang out of the factory's brick walls. Later, the factory leaders saw that she was really pitiful, so they turned a blind eye and recruited her into the sugar factory and worked as a sugar packer. Unexpectedly, this decision not only gave Jiang Peizhen a way to live, but also gave the sugar factory a way to live in the future.
From production pacesetters to team leaders, youth squad leaders, workshop directors... At the age of 18, Jiang Peizhen was elected deputy director by the workers, and at the age of 33, she was elected as the director of the factory.
As the first director of the factory, Jiang Peizhen broke the original sales system and made the output value of the sugar factory reach more than 97 million yuan. But this glorious period did not last long. In 1992, the competition between the major sugar mills in China became increasingly fierce, coupled with the increase in the price of raw materials, the industry fell into vicious competition, And Jiang Peizhen and her sugar mills failed to stand alone, and sales plummeted.
There is no way out of the sky. When the wind and rain were raging, Jiang Peizhen met the nobleman and nodded. "High-tech products are one way." A word awakens the dreamer.
High-tech products are not casually copied by other enterprises, but taking this road requires a combination of "production, learning and research", and a large number of talents are needed. At the critical moment of life and death of the enterprise, Jiang Peizhen took out all her savings - 70,000 yuan - and went to East China Normal University in Shanghai to "treasure hunting".
Jiang Peizhen was right. At East China Normal University, she met another nobleman of hers, Professor Wang Yaofa, the inventor of the Golden Throat Treasure. The first meeting between the two was at a scientific research exhibition organized by the Chinese division. The modest Jiang Peizhen came up and bowed to everyone: "I have not entered the door of the university, I did not expect to achieve it all at once today." I came to learn the art from a teacher. ”
This meeting left a deep impression on Wang Yaofa. Later, Wang Yaofa gave a formula he was developing to treat chronic laryngitis to Jiang Peizhen's sugar factory free of charge. Many years later, Wang Yaofa recalled: "I felt that this factory director had no shelf, was very approachable, and full of enthusiasm for his career. She wants to make the best products with Chinese characteristics, and we also want to make the best results, so we hit it off. ”
After several re-matchings between the two sides, the Golden Throat Treasure was released. In order to show the employees their determination to do this project, Jiang Peizhen smashed all the boilers and utensils in the candy factory, called on all employees to raise funds together, and finally gathered 7.8 million yuan within a month, making the project start smoothly.
At the end of 1993, golden throat throat treasure trial production. At the end of 1994, Guangxi Golden Throat Pharmaceutical Factory was officially established. At that time, Jiang Peizhen opened a precedent for domestic product packaging in accordance with the practice of Southeast Asian wanjin oil and safflower oil: Wang Yaofa's head was printed on the packaging box.
Jiang Peizhen said: "We printed Professor Wang's head on the packaging box to let everyone know him, remember that he is our benefactor, and also show that we respect knowledge and drink water without forgetting the attitude of digging wells." ”
At that time, the workers in the factory were indeed very grateful to Wang Yaofa. According to Wang Yaofa, "Every time the factory celebrates, I go to Liuzhou. Once, I was in tears and couldn't say anything. Because I saw all the staff standing up and bowing to me three times, they all said that without me, there would be no golden voice. ”
Famous for its "wild road"
For Jiang Peizhen at that time, the importance of the golden throat throat treasure was equivalent to "personal life".
In order to make a name for herself as a golden throat treasure, she spared no effort to shout. In 1995, she threw 5 million yuan to advertise on CCTV, when the house price of Beijing's East Third Ring Road was only 4800 yuan / square, and the weight of this publicity fee was self-evident.
In addition to paying attention to publicity, she also attaches importance to developing sales channels and maintaining relationships with distributors. She once boldly promised the dealer: "Although you help sell the goods, the sales cannot be returned, and the money that should be given is quite a lot." ”
Jiang Peizhen, who only has a primary school education, even took the lead in realizing the importance of enterprise allocation and employee equity. In 1998, Guangxi Golden Throat Pharmaceutical Factory and Candy No. 2 Factory completed the restructuring and merged into Guangxi Golden Throat Co., Ltd. (hereinafter referred to as "Golden Throat"). Jiang Peizhen and her son Zeng Yong became the actual controllers of the company.
In 1996, the advertising slogan of "Protect the throat, please use the golden throat throat tablet" has become a household name, and the revenue of the golden throat exceeded 100 million. Jiang Peizhen was called "Old Lady Jiang", which implied "a woman who has obtained the means".
Golden throat tablets are over-the-counter drugs, and throat treasures are food.
However, no matter what you do, too much force will always usher in a reaction. As Master Ma said in "Let the Bullets Fly": "The wine must be drunk one by one, and the steps must be taken step by step." The steps are bigger, and it is easy to tear the crotch. ”
In 2003, popular football star Ronaldo followed Real Madrid to China to participate in events. Jiang Peizhen, who has always been keen on marketing, feels that this may be a publicity opportunity for Golden Voice.
The jiang peizhento intermediary found Ronaldo and promised 300,000 US dollars (1 US dollar is about 6.5 yuan) just to "eat a meal" together. For Ronaldo, this is almost "money is stupid and fast", and he promises without hesitation, not knowing that he is the one who is "calculated".
When the meal began, Jiang Peizhen first invited Ronaldo to take a photo with himself wearing a dress printed with the words "Golden Throat Tablet", and then asked Ronaldo to "perform football skills for everyone" in front of the camera. Ronaldo was very hesitant, but after Jiang Peizhen promised to "never commercialize", he still half-believed it.
Jiang Peizhen (back row right) and Ronaldo (back row center) at the dinner table.
The meal ended in less than an hour, and a few days later, Ronaldo left China. At this time, Jiang Peizhen rebelled and immediately used the materials on the dinner table to make an advertisement for "Ronaldo Endorsement Golden Throat Tablet". The national television audience is happy to say: a person who sells throat lozenges can even ask the "world's top" endorsement, which is big enough!
The ad opened up sales channels for Golden Voice across the country, but Ronaldo knew nothing about it.
Because the Internet was not developed at that time, he did not learn about it until 2005. At that time, a Chinese businessman went to Real Madrid to negotiate advertising business, and inexplicably asked Ronaldo why he would take the advertisement of the golden voice, he understood the situation, was so angry that he broke a chair on the spot, and then fired the agent.
Ronaldo later said: "At that time, I only knew that a very rich and respected company invited me to dinner, and I went. Now I believe they have money, but I don't believe they are respected. ”
In 2007, Ronaldo sued Golden Voice, but at this time, Golden Voice was already rich. After a series of negotiations, the two sides settled privately. Then, Jiang Peizhen turned around and spent more than $14 million to ask Ronaldo's teammate Kaka to endorse.
In July 2015, Jin Throat went public in Hong Kong, and Chairman Jiang Peizhen's gong posture shocked the audience. It was also in this year that Jiang Peizhen removed Wang Yaofa's head from the outer packaging of the Golden Throat Treasure and replaced it with her own.
Jin Throat went to Hong Kong for listing, and Jiang Peizhen knocked on the gong on the spot.
Can't keep up with the times
The "fraudulent endorsement" incident has made the outside world reacquainted with Jiang Peizhen. It is also from the beginning of Ronaldo's complaint against the golden voice, the negative news about the untrustworthiness of the golden voice in the market has not been interrupted, especially after the listing.
In September 2016, a placing rumor hit Gold's throated stock.
Market rumors say golden throat shareholders plan to privately place at least 10 million shares, which is 18% lower than the closing price on September 15. In the eyes of the market, the major shareholder wants to cash out at least 56 million yuan. As soon as the news came out, the share price of Golden Throat plummeted by 26% on the same day, closing at only HK$5 (HK$1 is about 0.8 yuan).
Golden Voice hastened to clarify that it was a "potential placement" and not a "placement", and at the same time increased its stock. But the market didn't seem to buy Golden Throat's account, and golden throat's stock price fell all the way to HK$2.9, falling below the original IPO price.
In the same year, Jiang Peizhen led Golden Throat to promote the newly launched herbal beverages, and signed an advertising agency contract with Star Media and others with a total price of 80 million yuan, which will advertise for them in the variety shows "Gaishi Hero" and "The Masked Singer 2", increase exposure, and charge fees according to ratings.
However, after the show ended, according to the ratings, the golden voice that should have paid 63.76 million yuan in advertising fees only paid 13 million yuan, on the grounds that "the ratings were not up to standard". Later, after the court's judgment, Golden Throat needed to pay 51.67 million yuan in advertising fees to Star Media.
However, this advertising money, Jiang Peizhen has not been paid in full. On September 19, 2019, Jiang Peizhen became a "dishonest executor", also known as "Lao Lai".
At the same time that Jiang Peizhen's personal reputation is bankrupt, the operation of Jin's throat is not optimistic. A review of Golden Throat's 2015-2020 financial report shows that the company's net profit has barely increased in six years, and revenue has fallen from 707 million yuan in 2015 to 647 million yuan.
Perceptions of the "lack of growth" of The Golden Voice eventually reached the stock market. Golden Throat's share price peaked at HK$8, but as of the announcement of delisting, its share price was only HK$1.8, and its market value fell by 3/4. In the past years, more than 90% of the revenue of Golden Throat comes from Golden Throat Tablets almost every year. Economist and financial commentator Guo Fanli has said that the revenue of the golden throat is too dependent on the single product of the golden throat throat, which brings potential risks to the company's operation.
More notably, Golden Throat has invested little in research and development. In 2015, Golden Throat had announced that it would invest 65 million yuan in research and development, but to this day, it has not seen this research and development funding. On the contrary, marketing expenses have remained high, and its financial report shows that since 2015, marketing expenses have accounted for more than 40% of total expenditure.
It can be said that from the beginning of the family to the present, Jiang Peizhen's gameplay has hardly changed.
At the beginning, in the context of a special era, her bold marketing made her and Golden Voice. But with the development of society and the improvement of rules, her set has long been unable to keep up with the pace of the times.
The famous German swordsman Michel Hunt once wrote a book "100 Moves of Swordplay", in which the last move was "draw the gun and shoot". Later, netizens wrote a concise note for this move: "Adult, the times have changed. ”
Jiang Peizhen and Jin Zi should also understand the true meaning of this sentence.