From January to March every year, it is the peak season for six walnuts. However, before the Spring Festival, six walnut dealers were exposed to the incident of dealers running away with tens of millions of dollars. In recent years, Yangyuan Beverage, the parent company of six walnuts, has always been a large single product of walnut milk. Promoting the six walnuts to "drink from the north to the south and drink with the whole country" is the development goal of Yangyuan Beverage, therefore, the company's advertising costs have been very high for many years, and in the five years from 2018 to 2022, the company's advertising expenses are as high as 154.4 billion yuan, while the R&D expenditure in the same period was only 19.7 billion yuan. However, under the high advertising and marketing, it cannot avoid the weak sales of the company's large single product walnut milk.
Text |Ho Le.
* |Managers are the best in the center.
Recently, six walnut parent company Yangyuan Beverage (603156SH) was exposed that the dealer ran away and aroused people's attention.
Chengdu Junke business *** boss ran away, the amount involved in the tens of millions, hundreds of deceived merchants, we paid the order money, did not ship, today has been in the Pi County Public Security Bureau to the police, currently did not get the receipt number, Pi County Public Security Bureau is not currently accepted by the case, just registered, I hope that the first department can pay attention to help us, this order activity is six walnuts is six walnuts and dealers initiated, we gave money manufacturers now no one came out to solve. ”
Six walnut dealers in Xindu District, Pidu District, Junke Commerce, *** boss received an advance payment, and there were more than 500 merchants who paid the advance payment, and the payment has reached tens of millions. Here, I hope to give the merchant some help to recover the payment. ”
Screenshot from Sichuan Provincial Online Mass Work Platform).
On December 1, on the Sichuan Provincial Online Mass Work Platform, complaints about six walnut dealers running away with money were being fermented and spread.
According to the enterprise investigation, Chengdu Junke Commerce and Trade *** hereinafter referred to as Chengdu Junke Commerce) was established in 2011 and is mainly engaged in wholesale and retail. In 2020, the legal representative of the company was changed from Ma Chengtao to Zhou Heye. On November 27, 2023, the company was also forced by the Chengdu Jinniu District People's Court to enforce a case with a subject matter of 83,860 yuan.
For the public to reflect the dealer money running away incident, on December 5, the Chengdu Municipal Public Security Bureau Pidu District Branch replied on the platform, immediately instructed the Pidu District Public Security Bureau to investigate and deal with it, Siyuan Police Station has accepted it, and is now carrying out further investigation and evidence collection.
According to the Southern *** report, for the dealer running away incident, the relevant person in charge of Yangyuan Beverage said that the company did not know that Ma had been collecting payment from the terminal after terminating the contract, "This incident has caused a lot of losses to the terminal business, and the impact on the brand is not good." He said that the company will continue to help the terminal business contact Ma to return the payment, and will also cooperate with the relevant judicial investigation.
The Spring Festival peak season is approaching, and some dealers "fled".
The first quarter of each year, especially during the Spring Festival, is the peak season for the sale of six walnuts. It is really puzzling why the dealer chose to run away at this time.
The sales of Yangyuan drinks are divided into direct sales and distribution, and the latest three quarterly reports show that in the first three quarters of this year, Yangyuan drinks achieved operating income of 458.7 billion yuan, a year-on-year increase of 960%, and the net profit attributable to the parent company was 128.9 billion yuan, 2798%。Among them, the direct sales channel business revenue is 18.9 billion yuan, distribution channel business income of 439.5 billion yuan, a year-on-year increase in both. 99%。It can be seen that the distribution channel is the main sales channel of Yangyuan Beverage.
According to the third quarter report of this year, as of the end of the reporting period, the number of distributors of Yangyuan beverage in the country was 2,103, an increase of 168 and a decrease of 107 during the reporting period. Among them, the number of dealers in South China decreased by 23 and the number of dealers increased by 18, which is the only market with negative growth in the number of dealers. Chengdu Junke Commerce, which has 313 distributors in the region, is the fourth largest distribution market for Yangyuan Beverage. The sales market of Yangyuan beverage is mainly concentrated in East China, Central China, North China, Southwest and other seven regions, from the performance contribution point of view, in the first three quarters of this year, the year-on-year growth trend of operating income of other six regions, Yangyuan Beverage Southwest revenue is 68 billion yuan, down 2 percent year-on-year12%。
In fact, from the perspective of the annual changes in distributors, from 2020 to 2022, the number of distributors increased and decreased by 166, 206 and 204 respectively in each reporting period of Yangyuan Beverage118, 177, 145. It can be seen that the number of dealers has increased and decreased, and the range of change is a normal fluctuation. The dealer ran away with the money, for Yangyuan Beverage, although it will not cause large fluctuations in performance, but it will have a negative impact on the brand reputation, and the headquarters should strengthen the review of dealer qualifications to avoid similar incidents again.
In the past five years, the advertising expenditure has exceeded 1.5 billion yuan
Use your brain often, drink six more walnuts", the classic advertising slogan of Yangyuan drink is well-known. With the marketing blessing of high advertising, its core product walnut milk has also become the choice of many students and parents. However, the six peach pits are not health nutrition products, and Yangyuan Drink has also publicly stated that "we have never said that the product has a brain-strengthening effect".
The success of the six peach pits is inseparable from the blessing of marketing. Prior to its listing, from 2015 to 2017, the sales expenses of Yangyuan Beverage were as high as 92.1 billion yuan, 107.3 billion yuan, 107.3 billion yuan, while in the same period, the company's R&D expenses were only 544610,000 yuan, 784530,000 yuan, 1110300,000 yuan.
After the listing, the sales expenses of Yangyuan Beverage remained high. From 2018 to 2022, the advertising cost of Yangyuan Drink was 27.9 billion yuan, 37.7 billion yuan, 17.5 billion yuan, 41.4 billion yuan, 29.9 billion yuan, a cumulative total of 154.4 billion yuan. During the same period, the company's R&D expenses were 2146310,000 yuan, 5660090,000 yuan, 5919990,000 yuan, 3098020,000 yuan, 2892210,000 yuan. The comparison between the two shows that there is a huge disparity in the investment in marketing and R&D of Yangyuan Beverage. According to the 2023 semi-annual report, the advertising cost of Yangyuan drinks has decreased to 6458520,000 yuan, compared with 17,615 in the same period last year040,000 yuan, a decrease of 6334%。
Judging from the main products of Yangyuan Beverage, the sales of walnut milk, the company's large single product, have already weakened. The products of Yangyuan Beverage can be roughly divided into three categories, namely walnut milk, functional beverages, and other plant-based beverages. For a long time, Yangyuan Beverage has been breaking through the world with walnut milk, and walnut milk is the company's main income.
Because the latest three quarterly reports and semi-annual reports do not announce the specific revenue of different types of products. Judging from the performance of previous annual reports, walnut milk's business income has not been stable and weak in recent years. In 2022, walnut milk achieved business revenue of 564.5 billion yuan, down 1582%。From a long-term perspective, from 2019 to 2021, the operating income of walnut milk was 737.8 billion yuan, 436.6 billion yuan, 670.6 billion yuan, although it recovered in 2021, it was still less than the sales level in 2019, and the business revenue declined again in 2022, with year-on-year growth rates in the same period. 60%。
The sales of walnut milk are sluggish, and Yangyuan Beverage is also developing new products, and functional drinks are its focus direction. The Spring Festival, as the peak sales season, is a sales opportunity for walnut milk that should not be missed. Southwest China as an important market for Yangyuan drinks, although the dealer ran away with money is an example, but after fermentation, the spread of the scope gradually expanded, if Yangyuan beverage can not properly solve the incident, it will inevitably affect the trust between the first business and the end merchants, to the Spring Festival sales, the company's reputation will have a certain negative impact.