The once-household name Golden Voice is about to be delisted!
Image source: Video screenshot
At the deadline given by the Hong Kong Stock Exchange, Jin Came Up with a final privatization plan:
On 29 October, Golden Throat announced that the Offeror ( a company indirectly wholly owned by the Founders Holdings Company and Asia Capital Holdings ) and the Company would take the Company privately by way of an agreed arrangement and would cancel the shares at HK$2.80 per share of the Planned Shares (a premium of 3.7% over the closing price on the 28th).
It is expected that the listing status of the Shares on the Stock Exchange will be revoked on Wednesday, December 15, 2021 at 9:00 a.m.
Affected by this news, on October 29, the transaction of Golden Throat was extremely sluggish, and the stock price closed at HK$2.69, with a market value of less than HK$2 billion.
Image source: Oriental Fortune
Since its listing for 6 years, the stock price of Golden Throat has fallen from a maximum of more than 6 yuan to more than 1 yuan, and the market value has shrunk by up to 90%.
The counterattack of the 13-year-old migrant girl:
From sugar-packed women to billionaires
Many people don't know that the golden throat treasure that is burning all over the country was once a candy factory on the verge of bankruptcy.
Jiang Peizhen, born in 1946 to a poor family in Pingnan, Guangxi, is now 75 years old.
At the age of 13, Jiang Peizhen dropped out of school as an apprentice at the Liuzhou Candy No. 2 Factory and began her career as a sugar packer.
Due to her high level of skill, she was elected as the deputy director at the age of 18, and was elected as the director at the age of 33.
In ten years, Jiang Peizhen has developed the factory from a local small enterprise to an industry leader. In 1988, the output value of the factory reached more than 97 million yuan, and 10 economic indicators ranked first in the same industry in the country.
Around 1992, due to the rising raw materials and the impact of counterfeit products, the sales of Liuzhou Candy No. 2 Factory plummeted and gradually went bankrupt. Jiang Peizhen decided to transform technology and went to East China Normal University in Shanghai to buy a scientific research patent.
At East China Normal University, Professor Wang Yaofa, the inventor of Golden Throat, gave a formula he was developing for the treatment of chronic laryngitis to the confectionery factory free of charge. After several re-matchings between the two sides, the Golden Throat Treasure was released.
In order to thank Professor Wang Yaofa, when The Golden Voice first came out, he always used Professor Wang Yaofa's head.
At the end of 1993, under the leadership of Jiang Peizhen, Golden Throat Throat Treasure carried out trial production, and obtained certain good feedback in the market. After a year of precipitation, at the end of 1994, Guangxi Golden Throat Pharmaceutical Factory was officially established.
Like many well-known national brands in those years, advertising on CCTV was an important turning point.
In 1995, Jiang Peizhen took out 5 million yuan and advertised on CCTV, and for a while Golden Throat became a throat lozenge brand that was well known to the people.
With strong marketing assistance, in 1996, the revenue of Golden Throat exceeded 100 million, becoming a best-selling product nationwide.
At the end of the 1990s, the company's output value was 200 million yuan, ranking among the top 100 pharmaceutical enterprises in China.
On July 15, 2015, Golden Throat was listed on the Hong Kong Stock Exchange.
It was also from this year that the avatar on the packaging of the products of Golden Throat Company was replaced by Jiang Peizhen.
After the listing, the market value of Golden Throat was as high as HK$6 billion. Jiang Peizhen became a billionaire by virtue of the company's shares she held.
Advertising slogans are well known
Ronaldo was once accused of "routine"
"Protect the throat, please use the golden throat, Guangxi golden throat throat piece". When you see this line, do you remember the advertisement that many people are familiar with?
According to New Weekly, this ten-second advertisement has been screened on major TELEVISION stations. Media critic Lao Liang recalled in the show: "Please ask Ronaldo to endorse, big enough ah, but how does this advertisement look so rough?" ”
Ronaldo, who contributed to his "cut-out acting skills", was also named one of the unpopular advertising spokespeople, "filmed like this, laughing so silly, too unprofessional."
The advertisement was broadcast for three years, and the sales of golden throat rose for three years, from a medical and health product out of the circle to a Guangxi specialty known to women and children. And Ronaldo seems to know nothing about it.
It is reported that Ronaldo, who had just won the 2002 World Cup championship, the Golden Boot Award and won the World Footballer of the Year for the third time, was just in the middle of the day, the endorsement fee started in eight figures, but the golden voice only spent 300,000 US dollars, doing what the world's top 500 could not do.
In the summer of 2003, Ronaldo followed Real Madrid to play commercial games in China, and Jiang Peizhen invited the hottest football star at the time to shoot advertisements for his products. At that time, Ronaldo mysteriously disappeared for an hour and ate a meal - I did not expect to "shoot" an advertisement for Golden Throat, which later made a lot of noise.
Four years later, in January 2007, the media reported that Ronaldo would sue Golden Throat for 10 million euros. The reason is that the Ronaldo endorsement advertisement published by Golden Throat did not sign an endorsement contract, or even obtained my consent. This caused Golden Throat to be caught up in an infringement dispute for a while.
Image source: Golden Throat official website
In Ronaldo's version to the media at the time, he only admitted to being invited to a short cold dinner party and took some photos of the meeting with the top executives of the Golden Throat Company, but did not know that the Golden Throat Company would use these photos in the promotional advertisement of the product. For a time, The cooperation between Golden Throat and Ronaldo was accused of being an "empty glove white wolf".
However, this statement was denied by Golden Throat, which issued a statement on the official website at the time saying that Golden Throat and Ronaldo had signed a license agreement for product image spokespersons, and the company expressed its intention to continue cooperation to Ronaldo every year through the head of Ronaldo's designated business promotion company in China, and paid relevant fees to the company according to the agreement.
Subsequently, in August 2007, Golden Voice announced that another star, Kaka, had officially become the company's future image spokesperson, and his endorsement with Ronaldo, "Rashomon", was also gone.
He refused to pay advertising fees
List judgment defaulters
According to the per-economic network, in 2019, the golden voice fell into a storm of dishonesty.
According to the Shanghai Municipal Higher People's Court network, the court has restricted its legal representative, Jiang Peizhen, from leaving the country in accordance with the law because the person subject to enforcement, Guangxi Golden Throat Food Co., Ltd., has not fulfilled the obligations set forth in the legal documents. The case number is (2019) Hu 01 Zhi 924, and the subject of the execution is 51.9498 million yuan. The announcement of the restriction on exit was issued on May 26 this year.
According to Qixinbao data, Guangxi Golden Throat Food Co., Ltd. was established in February 2016 with a registered capital of 2 million yuan, the legal representative is Jiang Shiming, and the business scope includes the research and development and sales of food and beverages. The company is wholly owned by Guangxi Golden Throat Co., Ltd., whose legal representative is Jiang Peizhen.
The case that led to Jiang Peizhen's restriction on leaving the country originated four years ago. According to the China Times, in 2016, Guangxi Golden Throat Food Co., Ltd. hired Shanghai Canxing Culture Media Co., Ltd. to provide "Gaishi Yinxiong" program implant planning services for the golden throat herbal beverage listing and dissemination project. Golden Throat Foods also reached a memorandum of understanding with Star International, a wholly-owned subsidiary of Canstar, to reach an advertising cooperation in "Gai Shi YinXiong" and "The Masked Singer Season 2", and Golden Throat Foods sponsored the program.
According to the agreement between Golden Throat Food and Star International, the total price of advertising sponsorship of the two programs is 80 million, and the rating guarantee is also agreed.
Starry Sky International took stock afterwards, the ratings of "The Masked Singer" exceeded expectations, Golden Voice Food had to pay 40 million advertising fees, "Gai Shi Yinxiong" rating guarantee point was 1.80, the actual rating was 1.07, according to the conversion and then subtracted the 13 million that Golden Throat Food had paid in the early stage, and also paid 10.76 million.
Golden Voice Food believed that the ratings of "The Masked Singer" and "Gai shi Yin Xiong" were not up to standard, and refused to pay the remaining fees. So the two sides fought a lawsuit, and the court ruled that the advertising contract between the two sides was substantively established; "The Masked Singer" completed the ratings of the checkpoint, "Heroes of the World" did not complete the ratings of the checkpoint, and Golden Throat Food should pay the remaining advertising fee of 51.67 million yuan.
On September 19, 2019, Golden Throat Food was listed as a judgment defaulter by the Shanghai No. 1 Intermediate People's Court because the company failed to pay 51.9498 million yuan as required. Affected by this, Jiang Peizhen, as the actual controller of the company, was also listed as a restricted consumer, and was restricted from taking planes and living in hotels above star rating.
However, according to the latest information, Jiang Peizhen has been revoked from the height restriction order.
The company issued a document in response to the dispute
Denial of "fooling" Ronaldo and "being a lao lai"
On October 9, the public account of Guangxi Golden Throat Group issued a statement saying that the company did not have the situation of "fooling Ronaldo" endorsement advertising, and had reached a settlement with an advertising company and paid in full, and there was no behavior of "being Lao Lai" and "not paying the advertising money" contained in the Internet rumors. It is hoped that the relevant publishers will delete the false statements and reserve the right to pursue responsibility.
Guangxi Golden Throat Co., Ltd. (hereinafter referred to as "Golden Throat") said in a statement that since 2003, Golden Throat has signed a number of agreements with Mr. Luis Nazario da Lima Ronaldo (hereinafter referred to as "Mr. Ronaldo"), stipulating that Mr. Ronaldo will serve as the spokesperson for Golden Throat products in China, and agree to use His portrait in television advertisements. The advertising cooperation between Golden Throat and Mr. Ronaldo has an agreement signed by both parties as a legal basis. Jin Zizi and Ms. Jiang Peizhen do not have the situation of "fooling Ronaldo" and "using the materials on the dinner table to make an advertisement for 'Ronaldo endorsing the golden throat throat piece'" contained in the Internet rumors.
Regarding the dispute over the advertising contract between a media company and Guangxi Golden Throat Food Co., Ltd., the two parties have already reached a settlement, and Golden Throat Food has fulfilled all payment obligations. The Shanghai No. 1 Intermediate People's Court has also issued a judicial document clarifying the conclusion of the case. According to the effective legal documents, Jiang Peizhen's female soil and golden throat food do not have the behavior of "being a lao lai" and "not paying the advertising money" as rumored on the Internet.
The false information released by the online media account has seriously damaged the reputation of our company and Ms. Jiang Peizhen, and I hope that the relevant publishers will immediately delete the above false remarks, and our company reserves the right to pursue the legal responsibility of relevant subjects.
The single product faces the sales ceiling
What happens after delisting?
Nowadays, the "golden throat" that once spread all over the country is not a good life.
As of now, Golden Throat has issued a semi-annual report, with revenue of 370 million yuan in the first half of the year, but net profit of only 81.5 million yuan.
Since the company's listing for 6 years, the stock price of Golden Throat has fallen from the highest of more than 6 yuan to more than 1 piece, and the market value has shrunk by 90%.
Image source: Wind
The company's financial report shows that Golden Throat has been relying on two products, Golden Throat Throat Treasure and Golden Throat Throat Tablets, which even account for 89% of total sales.
At present, these two products are also facing a sales ceiling, in 2020, the sales revenue of golden throat throat tablets is about 580 million yuan, a year-on-year decrease of 19.3%; the sales revenue of throat treasure series products is about 53.7 million yuan, a year-on-year decrease of 19.6%.
In order to solve the problem of single products, Jiang Peizhen has also tried to take the road of diversification. For example, the Golden Throat Herbal Drink was launched in May 2016, and the Golden Throat Sausage Was launched in July 2019. But both products sold very little and failed.
Where will the golden voice after delisting go? We'll see.
Daily economic news