On December 12, the House of Swallows (01497.)HK) struck the gong on the Hong Kong Stock Exchange and became the "first bird's nest stock" in China.
Generally speaking, the birth of the first stock in the industry is not only a major development milestone for the company, but also a major promotion event for the industryTherefore, the successful listing of Yanzhiwu is one of the manifestations of the gradual maturity of the 10 billion bird's nest market.
Whether the leading bird's nest road can continue to lead, and whether it can bring some new highlights to the entire bird's nest industry, this is worthy of market attention and expectations.
The first strand of bird's nest was born.
On December 12, Yanzhiwu was listed on the Hong Kong stock market, with a global offering of **32 million shares, a Hong Kong offering of 12.8 million shares, and an international offering of 19.2 million shares, with a final offer price of 9HK$7 shares.
On the first day of listing, Yanzhiwu's share price once opened more than 9% higher, and finally closed flat at 9HK$70, with a total market capitalization of about 451.5 billion yuan.
Huang Jian, Chairman of Yanzhiwu, said at the listing ceremony that in the future, Yanzhiwu will continue to upgrade its R&D capabilities and devote itself to intelligent manufacturing, while expanding its product portfolio, paying attention to consumer needs, and exploring various strategic cooperation to help the growth of China's bird's nest market.
In fact, Yanzhiwu, which won the "first share of bird's nest", is also the leading player in the industry that has laid out the bird's nest track in China for many years.
According to the Frost & Sullivan report, from 2020 to 2022, Yanzhiwu has been the world's largest bird's nest product company in terms of retail sales for three consecutive years. In the 2022 China bird's nest product market, Yanzhiwu ranked first in terms of the number of bird's nest franchise stores and the number of imports certified by the Chinese Academy of Inspection and Quarantine.
Enterprise-level data, the prospectus shows that from 2020 to 2022, Yanzhiwu will achieve operating income of 130.1 billion yuan, 150.7 billion yuan, 173 billion yuan, with a compound annual growth rate of 153%；This is well above the industry average of 116.
In terms of net profit, from 2020 to 2022, it will achieve a net profit of 12.3 billion yuan, 17.2 billion yuan, 20.6 billion yuan, with a compound annual growth rate of 292%。In the first five months of 2023, Yanzhiwu achieved an operating income of 78.3 billion yuan, a year-on-year increase of 123%；Achieved a net profit of 10.1 billion yuan, a year-on-year increase of 20%.
Obviously, from the prospectus data, Yanzhiwu's revenue and profit have maintained a relatively healthy level;At the same time, the company also continues to maintain a leading position in the industry;That is to say, whether it is business operation or industry competition, the advantages of Yanzhiwu are more obvious.
Products, channels, brands, what is the background color of Yanzhiwu?
The steady growth of performance and the continuous improvement of market competitiveness are also due to the stable development and reasonable layout of Yanzhiwu in terms of products, channels and brand operations.
First of all, at the product level, Yanzhiwu has high requirements for the quality, innovation and diversification of bird's nest products.
In terms of product quality, Yanzhiwu strictly selects the origin of bird's nest, the best merchants and the quality of raw materials, etc., and constantly consolidates the foundation of bird's nest quality.
In terms of product innovation, Yanzhiwu promotes innovation at the product level through technology accumulation, and the data shows that the production technology of Yanzhiwu's high-end brand Wanyan products has achieved long-term storage at room temperature without adding preservatives, and on the basis of ensuring product quality and safety, it also has the advantages of ready-to-eat, hygienic and safe, beautiful atmosphere and so on. Nowadays, Yanzhiwu also cooperates with a number of well-known academic institutions, and at the same time, through independent research and development, it continues to explore the nutritional value and efficacy of bird's nest.
In terms of product matrix, the prospectus shows that as of the end of 2022, Yanzhiwu has 250 SKUs, of which 194 are pure bird's nest products, including bowl bird's nest, freshly stewed bird's nest, rock sugar official bird's nest and dried bird's nest, which can meet the differentiated experience needs of consumers in different life scenarios.
Secondly, at the channel level, Yanzhiwu has built an extensive sales network over the years, including online and offline channels.
According to the prospectus, there are more than 700 stores under Yanzhiwu** to deeply reach consumers, understand and meet the needs of consumers in a timely manner, and obtain feedback to feed back products. On the online channel, the prospectus shows that Yanzhiwu began to cooperate with e-commerce platforms in 2018, and as of May 31, 2023, the company has 15 e-commerce platform customers, including JD.com, Vipshop and Tmall Supermarket.
At the same time, Yanzhiwu is also constantly strengthening the construction of offline membership system. Through the construction of the offline membership system, open up new offline sales channels, realize thousands of stores, broaden the sales channels of offline merchants, improve the purchase path of offline customers, and build member portraits, accurately analyze customer purchase trends, improve customer service quality, and ultimately achieve the goal of improving customer stickiness.
Finally, at the level of brand building, Yanzhiwu has also been deeply engaged in popularity and reputation for many years.
Founded in 1997, Yanzhiwu has been focusing on high-quality bird's nest for more than 20 years, integrating the concept of beauty and healthy life into every bird's nest product, and has won the trust and recognition of consumers.
Yanzhiwu has invited a number of well-known people as brand spokespersons, from Ms. Carina Lau's ten-year companionship of "Eat Bird's Nest, Choose Yanzhiwu", to Ms. Lin Chiling's beautiful endorsement of "born of love and nourished with love", and then to join hands with the famous actress Ms. Zhao Liying, the addition of these spokespersons has brought more attention and credibility to the brand and enhanced the brand image.
In addition, Yanzhiwu also attaches great importance to the integration with traditional culture, and enhances the cultural connotation and attractiveness of products by promoting and displaying traditional Chinese culture. This way of integrating traditional culture makes consumers have more emotional resonance and desire to buy Yanzhiwu's products.
In general, the development of products, channels and brands has enabled Yanzhiwu to successfully improve its brand awareness and reputation, attracting the attention and purchase of a large number of consumersIt effectively conveys the brand value and service concept of Yanzhiwu, and further consolidates its leading position in the bird's nest market.
How will the bird's nest track develop?
According to the "2020 Bird's Nest Industry Data Show" released by the National Bird's Nest Committee, from 2013 to 2020, the size of China's bird's nest market soared from 6 billion yuan to 40 billion yuan, with a compound annual growth rate of 33%.
And according to the research institute Frost & Sullivan in the report,"Bird's Nest +"market and"Bird's Nest +"The potential size of the market reached 80 billion yuan and 450 billion yuan respectively.
In the face of the huge incremental market, how will the bird's nest industry develop in the future?
On the one hand, the industry will continue to standardize the development, at present there are still some problems in China's bird's nest industry, in the future, with the advancement of industry standardization, these problems may be solved, so as to promote the healthy development of the bird's nest industry.
From the user level, the concept of health and wellness has been deeply rooted in the hearts of the people, and with people's attention to health preservation, health and wellness has become an important development direction of the bird's nest industry. As a tonic, bird's nest is well recognized by consumers for its nutritional value and health care functions, and the improvement of consumer awareness also promotes the healthy development of the industry.
On the other hand, the brand management of the industry is constantly improving, and with the pursuit of consumers' brand and quality of bird's nest, the trend of brand management is becoming more and more obvious in China's bird's nest industry. As a well-known brand, Yanzhiwu has gained high brand awareness and reputation.
This process is also the head concentration process, the entire bird's nest industry is about to usher in the reshuffle stage, some of the lack of core competitiveness, lack of differentiation of the tail enterprises are squeezed out of the queue, the industry will move closer to the head enterprises, the overall concentration continues to be listed, conducive to Yanzhiwu such a leading enterprise.
In short, the listing of Yanzhiwu is a manifestation of the hard power of the enterprise, and the development space of the bird's nest industry is huge, and the successful listing of Yanzhiwu will also promote the rapid development of the entire industry while realizing the value of the enterprise through its own advantages.
Tan Xinchi)**Red Star News, there are prizes for reporting!）