Baiyun Mountain, which shouted "give men confidence", but the market performance could not stand up?
Not long ago, Baiyunshan Group, which owns popular models such as Jin Ge (domestic "Viagra"), announced its financial report for the first half of the year, claiming that revenue and profits were bumper, and they climbed year-on-year. 54%。
Soon after the voice fell, it was tragically "lifted to the bottom" by the financial **: since last year, Jin Ge and other shipments have plummeted by 13.4 million pieces, and Baiyun Mountain has been affected by this, with profits falling by 32%, and cash flow has fallen by more than 2.4 billion yuan, almost returning to the level of 10 years ago.
For a time, accusations of inflated income and inflated costs were everywhere. Although Baiyunshan urgently issued a clarification statement, it was difficult to reverse the collapse of public confidence: as soon as the news came out, its Hong Kong stocks fell by 556%, and the market value evaporated to 31HK$700 million.
It was once known as the "Three Musketeers" in the industry along with Yunnan Baiyao and Pien Tze Huang, why is Baiyun Mountain "embattled" today?
01.The core product is lost: a middle-aged man who can't hold it
In 1998, sildenafil citrate tablets (commonly known as "little blue tablets") targeting male erectile dysfunction (ED) were favored by the market as soon as they landed, and the American "Time Magazine" said that "men have been waiting for this research for more than 4,000 years"!However, due to the influence of Xi and **, the introduction of domestic customs has not been delayed.
In 2000, the imported "little blue film" finally officially opened the Chinese market, and applied for a 14-year patent protection period in one go, just to monopolize this blue ocean market. "The hidden words of men" have become a cornucopia: although the price of a single ** has risen to 100 yuan, many Chinese people still go forward to pay for it.
Baiyunshan and other Chinese companies are also aware of the market potential behind it, and after waiting for 14 years, as soon as the protection period expires, they can't wait to launch the first domestic "little blue film" Jinge in 2014, and also play a low-price strategy, reducing the cost of a single piece by 70% in one fell swoop.
Oriental Fortune data shows that with cost advantages, in less than 5 years, the market share of domestic "small blue films" has increased by 65 times, shipments reached 98.49 million pieces, and the gross profit margin remained above 80% per year, and even squeezed out the original imported manufacturers, ranking top 1 in the domestic market of this category.
Relying on this "gold-swallowing beast" in the male market, Baiyunshan's annual revenue has reached 1 billion, and it is known as the "Moutai" of the health industry. However, the "wild ride" in the market finally stepped on the brakes in 2022.
Health Times reported that the market potential of the "other economy" that continues to break out in China has long been coveted by domestic and foreign manufacturers. In 2022, there will be a surge of more than 20 domestic manufacturers of similar products, and foreign biotech companies will also enter the domestic market one after another, hoping to "take a share" in the male reproductive health market.
Even the 100-year-old Japanese Gensheng Biotech has launched the latest R&D product, Men's Premium (translated as "Jingbeilai"), and officially entered the domestic market.
CBNB research report revealed that the above-mentioned male care technology has made a lot of splashes in the market. In the shopping node a month ago, only the data of Jingdong channel was counted, and a six-digit transaction was made within 1 hour.
The market share of Baiyun Mountain is shrinking, and the market value of Baiyun Mountain has evaporated all the way to more than 497 in the second half of the year8.2 billion yuan, net profit fell by more than 32% year-on-year, and the "100 billion market value dream" was shattered.
02.Follow-up powerlessness?The awakening of domestic men's consumption consciousness
Why did Baiyun Mountain fall into such an embarrassing situation?According to the analysis of industry insiders, aside from factors such as market competition, the root cause is still the conservative and unenterprising R&D level of Baiyun Mountain.
Although the market popularity of ED male care is extremely high, the problems exposed in the past two years have become more and more serious. It has long been reported by foreign media that a man abroad swallowed 35 pills in one breath at the instigation of a friend, but he was dizzy and hallucinated, and he "couldn't put it down" for 5 days...Many men are also very worried that "once it is discontinued, the advantage will be completely lost".
With the rise of men's consumption power, the requirements for health care are also escalating, and this kind of consumption behavior of "being quick for a while and overdrawing the future" has gradually been eliminated.
However, domestic manufacturers have been slow to respond to this change in demand. It is reported that Baiyunshan's annual R&D investment in this category is less than 01%, which is equivalent to sitting on a mountain and eating nothing. However, similar competitors in imports have been in full swing in this field.
According to Upstream News, Japan's Gensheng Biotech has invested 100 billion yuan in R&D in 2 years, increasing the track, and the emerging technology product "Jingbeilai" has won two patents: M-coreActive and Cell Vitaplex.
According to public data, its essence is different from sildenafil, but activates the internal power of the body, promotes the virtuous cycle of the autologous, and relaxes the blood vessels by promoting the synthesis of NO, and coping with "dizziness" and "sweating" in use.
In addition, natural substances such as PQQ and spermidine, which are backed by hundreds of research data, target the mitochondria and SIRT longevity proteins, the "energy factories" of microscopic cells, to cope with long-term lack of energy and physical decline.
Business intelligence data shows that soon after it was launched on channels such as JD.com, it reached millions of domestic groups with "hidden male words" with the help of gimmicks such as "long-term battery life" and "elite secret treasure".
The capital market is moving, and more industry competitors are still pouring in.
03.Super 1400 million!The market is expected to double its growth
Imported pharmacists are menacing, but Baiyunshan announced the expansion of a new track at this juncture. Its person in charge said in an interview that it is currently vigorously extending the direction of the fashion Chinese medicine industry, and will launch a domestic "fashion Chinese medicine": Baiyun toothpaste. In response, the market response was mediocre.
According to the data of the Chinese Journal of Studies, China has 56.3 billion adult males, with more than 1400 million, and the scale of the related market is expected to double in the future.
Baiyunshan and other domestic veteran manufacturers need to accelerate the accumulation of R&D technology and face up to the changes in consumer demand in order to stand tall in the torrent of the market.