"A man who can't swim, it's useless to change him to a pool!"
On October 29, Xiangpiaopiao handed over the performance list of the main business continuing to lose money in the first three quarters of this year, and Xiangpiaopiao said that it would exert efforts to promote health and nutritional supplements and related functional food and beverage markets, in this regard, Chinese food industry commentator Zhu Danpeng and Hu Said had a reasonable exchange without politely as above and pointed out that if Xiangpiaopiao does not solve the seven "aging" problems, what new products will not help!
For the unexpected rise and fall of Xiangpiaopiao's stock price yesterday (November 1), Zhu Danpeng directly said: This is a virtual fire, and the limit is not sustainable!
1、
Wang Yibo could not save the decline in performance
The rise of Xicha, Naixue's tea, and Michelle Ice City has made the fragrant fluttering days of milk tea that is still self-proclaimed to be sold on the official website more and more difficult.
On October 29, xiangpiaopiao handed over the third quarter of 2021 performance report shows that the company's increase in revenue in the first three quarters not only did not increase profits, revenue of 1.974 billion yuan, an increase of 4.29% year-on-year; net profit of 39.3955 million yuan, down 11.45%. In the first three quarters, the main business continued to lose money, with a loss of 22.64 million yuan.
Looking at the third quarter, Xiangpiaopiao's operating, profit, and non-net profit fell by 1.76%, 6.2%, and 20.02% respectively. Net cash flow from operating activities from the beginning of the year to the end of the reporting period was -81,042,836.71 yuan.
More than a decade ago, with the convenience and novelty of brewing packaging and the affordability of product pricing, Xiangpiaopiao quickly occupied the milk tea consumption market that was not blank at that time; coupled with super marketing promotion, "more than 300 million cups sold a year, cups can be connected to circle the earth" The advertising slogan made Xiangpiaopiao a memory of the 80s and 90s.
In November 2017, Xiangpiaopiao landed on the capital market at an issue price of 14.18 yuan per share; in August 2019, its stock price reached a peak of 38.4 yuan intraday, and in 2019, Xiangpiaopiao's revenue also reached a peak of 3.978 billion yuan.
However, despite Wang Yibo's endorsement, in the first three quarters of this year, Xiangpiaopiao's revenue was less than half of that of the whole year of 2019.
2.
The market value has shrunk sharply, far less than the new tea drink
In fact, the gradual decline of xiangpiao is the choice of the times. The rise of new tea drinks such as Hey Tea and Nai Xue's Tea has attracted more Z-era consumers. Xiangpiaopiao's performance continued to decline, and its stock price also fell below the issue price in July this year; although it recovered slightly, as of October 29, its closing price of 14.85 yuan fell by as much as 62.7% from its peak.
However, on Monday (November 1), Xiangpiaopiao's stock price unexpectedly rose to a limit of 16.34 yuan. At present, the total market value of Xiangpiaopiao is 6.805 billion yuan, but it is still shrinking by nearly 9.2 billion yuan from the highest point two years ago. The Shareholding Ratio of the Jiang Jianqi Family with Chairman Xiangpiaopiao as the core exceeds 80%, which also means that Jiang Jianqi's value has shrunk significantly.
Compared with several new tea brands, the valuation or market value of these brands is far more than Xiangpiaopiao.
On July 13 this year, the valuation of Xicha directly soared to 60 billion yuan after completing financing.
On September 30, according to the information disclosed by the Henan Securities Regulatory Bureau, Michelle Ice City will seek to be listed on A-shares, after Honey Snow Ice City has received the first round of financing led by Meituan Dragon Ball and Hillhouse, and public information said that its post-investment valuation reached 20 billion yuan.
In June this year, Nesher's tea landed on the Hong Kong Stock Exchange, becoming the first stock of new tea drinks, with a market value of HK$34 billion. However, after the listing, The stock price of Nesher is also falling. As of the close of trading on November 1, Neixue's stock price fell to HK$9.36, and the total market value was only HK$16.054 billion, a contraction of more than half, but even so, Naixue's market value was far more than Xiangpiaopiao.
3、
To make efforts in the field of functional food
Performance has declined, stock prices have plummeted, and 57-year-old Jiang Jianqi may not have a comfortable life, and finding new growth points has become a top priority.
Just one day before the release of the third quarterly report, Xiangpiaopiao and Jindawei, an A-share nutrition and health industry chain enterprise, issued an announcement that the two parties signed a cooperation agreement with Ningbo Meishan Bonded Port Area Xuanying Yunhao Investment Management Partnership (Limited Partnership) (hereinafter referred to as "Ningbo Xuanying Yunhao"), agreeing to jointly invest in the establishment of two joint venture companies to carry out research and development, production and sales of LEAN BODY products in the Chinese market, and jointly develop the Chinese health nutrition supplements, related functional foods and functional beverage markets.
According to the announcement, LEAN BODY is a brand of the American sports nutrition brand company Labrada, which was founded in 1996 by Lee Labrada, a globally renowned bodybuilder who is a member of the IFBB (International Bodybuilding and Fitness Federation) Professional Bodybuilding Hall of Fame. LEAN BODY Ready-to-Drink High-Protein Nutrition Shake products have repeatedly won the Culinary Institute of America Gold Award and the National Food and Nutrition Association's Popular Choice Award. Kingdomway currently holds a 30% stake in Labrada through a wholly owned subsidiary and owns THE TRADEMARK RIGHTS OF LEAN BODY in China.
Choosing to enter the field of functional food, Jiang Jianqi, chairman of Xiangpiaopiao, responded to the media: The current consumption trend in China must be healthy and nutritious, this product is in line with the domestic consumption trend, and the US market has verified the success of this product, which is also the reason for choosing this product for this cooperation.
4、
Experts say that seven "aging" problems drag xiangpia
However, for Jiang Jianqi's practice, the views of Zhu Danpeng, a commentator on the Chinese food industry, directly hit Jiang Jianqi in the face. Zhu Danpeng said bluntly: A person who can't swim, even if he changes a swimming pool, is useless.
"It is inevitable that Xiangpiaopiao's main business will continue to lose money, because its overall aging situation is more serious", Zhu Danpeng said to Hu Said: "From brand aging, product aging, to channel aging, team aging, customer aging, scene aging, system aging, Xiangpiaopiao has too many problems, although it has also launched some new products, but these new products are not enough to support the future development of Xiangpiaopiao." And on the whole, the punching class is still the main part of Xiangpiaopiao, but the entire punching class has fallen into the ceiling effect, and has also fallen into the cycle of consumption fatigue, so we are not optimistic about its overall development."
"Under the situation of so much 'aging', Xiangpiaopiao's entry into the functional food and beverage market is definitely not OK", Zhu Danpeng further pointed out: Under the impact of the entire new Chinese tea, Xiangpiaopiao's future space will be further squeezed, and enterprises must now figure out where the future development path is, and then choose some tracks according to their actual situation. If these "aging" problems of Xiangpiaopiao are not solved, no matter what new categories are on it, it will not help!
For the rise and fall of Xiangpiaopiao's stock price yesterday (November 1), Zhu Danpeng also disagreed, he said that this has both the dividend of an internal stage of a new product listing, as well as the external factors of the food industry ushering in the peak season in the fourth quarter.
"But these are all virtual fires, and the limit should be said to be unsustainable." Zhu Danpeng said so.