Hongqi Chain, a convenience supermarket giant in southwest China known as "China's No. 1 convenience supermarket stock", may be about to change hands!The familiar "Cao Xiao" Cao Shiru is very likely to no longer be the actual controller of the Red Flag Chain.
Trading will be suspended from the market open on December 14
The actual controller orThere will be a transfer of shares
On the evening of December 13, Hongqi Chain issued an announcement saying that it had received a notice from the actual controller of the company and persons acting in concert that the actual controller was planning the transfer of control, and there was still significant uncertainty in view of the fact that the matter was being negotiated. After application, the company's ** has been suspended since the market opened on December 14, and it is expected to be suspended for two trading days.
Cao Shiru, chairman and general manager of Hongqi Chain, told the cover news reporter: "The transfer of control of Hongqi Chain is a good thing for Hongqi Chain, which is conducive to the development of Hongqi Chain to a more stable, high-quality and efficient path." ”
According to public information, the actual controller of Hongqi Chain is Cao Shiru. As of September 30, Cao Shiru held 327.42 million shares of Hongqi Chain, accounting for 2408%, the largest shareholder of the company, in addition, Cao Shiru's son Cao Zengjun also holds 48.28 million shares of Hongqi Chain, accounting for 355%。
For this suspension and the upcoming transfer of control, there are rumors in the industry that Cao Shiru is very likely to transfer his shares to his son Cao Zengjun to complete the transfer of power of the second generation.
According to the official website of Hongqi Chain, Cao Zengjun is currently the vice chairman, executive deputy general manager and secretary of the board of directors of Chengdu Hongqi Chain Co., Ltd., and the general manager of Chengdu Hongqi Asset Management (Group).
In October 2023, Cao Shiru and Cao Zengjun ranked 1179th in the "2023 Hurun Report" with a wealth of 5 billion yuan.
According to ** reports, after 2005, Cao Zengjun, who used to work in the agency, came to work in the Hongqi chain.
In order to train his son and hold a store manager meeting, Cao Shiru will push Cao Zengjun up to speak;From the store to the distribution center, let Cao Zengjun rotate;Take Cao Zengjun to see the world, chat and negotiate with leaders and customers. The mother and son didn't get along well at first, "He couldn't understand me, I was very anxious and tired, so I scolded him;I was not satisfied when I saw that he spoke with pale language. In 2018, Cao Shiru revealed to "Chinese Entrepreneur".
From 2005 to 2023, a full 18 years of experience, I think Cao Zengjun already has the insight and strategic ability of the leader, and only then did he have the announcement of the suspension of the Hongqi chain and the planning of the transfer of control.
Of course, there is also a possibility behind the suspension that Cao Shiru transferred his shares to a third party and took the money and left. Although this probability is low, anything is possible until the dust settles.
The first share of convenience supermarkets in China
The first three quarters were outstanding
On the morning of September 5, 2012, Hongqi Chain was listed on the small and medium-sized board of the Shenzhen Stock Exchange, becoming the "first convenience store share" of A-shares. Since then, it has also successively acquired Hongyan Supermarket, Mutual Supermarket, Leshan Sihai and 9010 Supermarket to further improve the network layout.
The Hongqi chain is neither a convenience store nor a supermarket, but it is the best type of store in the retail format. There were rumors in the industry that if the target was suitable, it would also want to merge and acquire Wudongfeng.
In the first three quarters of 2023, the year-on-year growth rate of retail sales in the supermarket industry was -04%, the worst growth performance among all retail formats, because the supermarket industry is greatly affected by the competition of retail formats such as e-commerce;At the same time, it is also related to the fact that during the epidemic, the supermarket industry, as a basic livelihood industry, was relatively less affected by the epidemic last year.
But the Red Flag chain ran out of its own acceleration. The third quarterly report released by it shows that from January to September 2023, Hongqi Chain achieved an operating income of 76400 million yuan, a year-on-year increase of 089%；Net profit attributable to shareholders of listed companies40.7 billion yuan, a year-on-year increase of 1399%。
Among them, in the third quarter of 2023, Hongqi Chain achieved a net profit attributable to shareholders of listed companies of 1500 million yuan, a year-on-year increase of 1194%。Compared to the second quarter of 1With a net profit of 1.5 billion yuan, the net profit of Hongqi Chain in the third quarter increased significantly from the previous quarter.
Of course, Hongqi chain also has a side of poor management. Its inventory turnover days have remained high in recent years, much higher than its retail peers. Hongqi Chain's inventory turnover days in 2022 increased from 81 days in 2021 to 905 days, almost twice as many as Yonghui Supermarket's 50 days.
Moreover, how to expand to the national market and catch up with the head convenience chain enterprises is also a major challenge for Hongqi chain, which is in a corner of safety.
In the past ten years of development, the operating income of Hongqi chain has continued to rise, and the compound annual growth rate is 7The rate of 8% increased from 5.5 billion yuan in 2015 to 100 billion yuan in 2022200 million yuan. The main driver behind this is the increase in the number of stores, which has increased from 2,274 in 2015 to 3,600 in 2023.
It is worth noting that 2,700 of the 3,600 stores of the Hongqi chain are opened in Sichuan, which is a major characteristic brand in Sichuan. In recent years, after Hongqi has closed or renovated stores that are not doing well, the average annual operating income of a single store will reach 2.81 million in 2022.
At present, the number of Meiyijia stores in the same track has exceeded the 30,000 mark, surpassing Sinopec's Yijie (28,606) and PetroChina's Kunlun Hospitality (20,600), compared with these brands, the number of stores of the Hongqi chain is completely inferior by an order of magnitude.
The income from the sale of houses is 20 million
How many suites are in the hands of the listed company
On December 7, shortly before the suspension announcement, Hongqi Chain issued an "Announcement on the Transfer of Own Real Estate", which showed that Hongqi Chain intends to give Chengdu Huang Dajie cleaning service to Chengdu Huang Dajie Cleaning Service at No. 221 Fair Peace Street, Wenjiang District, Chengdu After negotiation between the two parties, the total transfer price was finally determined to be 20 million yuan.
This reminds everyone of an interesting phenomenon in the past two years: when companies run out of money, they sell a few houses in exchange for some capital flow.
In March this year, Christine, the "first baking stock" who shocked the Shanghai circle, owed 57 million after ten years of losses in the listing chain, temporarily closed all her retail stores, and owed 57 million debts such as store rent, employee salaries, and ** business payments.
As a result, Christine sold her two-story office property on ** South Road in Shanghai, and sold her residential property on Renmin East Road, earning 16.89 million.
Although it is still not enough to repay the debt, netizens said that Christine did not come back to life by selling the house, in the final analysis, because there are not enough houses and they are not worth enough.
In 2017, the domestic milk powder brand giant Beingmate suffered long-term losses, and when it was about to be delisted, it resolutely made 29 properties in Hangzhou, Chongqing, Chengdu, Wuhan, Shenzhen, Guangzhou, Beijing, Shanghai and other places public**, resulting in 1The income of 2.3 billion yuan was used to fill the hole of performance loss, and it actually kept its name as a listed company.
Of course, selling a house is still a low-class means, and it is more clever to be a second-hand landlord.
For example, KFC has set up a real estate **, which will buy a house somewhere in advance or lease it for a long time for 30 years, ** is very low, and when the cold market becomes a prosperous market, it will be rented to his franchisee. KFC earns the difference in rent from the middle, and in the end, commercial real estate contributes 50% of KFC's profits.
McDonald's also has a real estate company of the same nature, which is responsible for finding a suitable address for McDonald's to open a store, locking it in the form of a long-term lease, and then subleasing the store to a franchisee to get the difference.
On the one hand, the directly-operated stores do not need to bear the pressure of continuous rent, and on the other hand, the franchisee can collect continuous rent from the first place. From 2016 to 2017, McDonald's subleased 12,262 stores to franchisees worldwide, accounting for 40% of all stores at that time, bringing in rental income of up to $6.5 billion.
Therefore, in the past two years, everyone has been shouting that consumption has not picked up, consumers' wallets have been deflated, and many companies have even fallen into the danger of broken capital flow. At this time, if the company has some real estate in hand, maybe life will be much better. After all, there is no loss that cannot be solved by selling one house, and if there is, then sell two.