**: Wine industry reference.
Huijiu Group is in a hurry, and Lin Jinfeng is in a dilemma.
Zebra consumption. On the morning of December 26, a banner of "Huijiu Group owes wages to workers" was widely spread on social media.
This can't help but make people sigh that once before Chinese liquor.
Fifth, the boss of Anhui liquor, under the ** of investment boss Lin Jinfeng, has he come to the point where he can't pay his salary?
The investment boss takes over.
The predecessor of Huijiu Group is Anhui Blast Furnace Distillery, which was founded in 1949 in Blast Furnace Town, Wuyang County, Bozhou City, Anhui Province, which belongs to the main liquor production area in northern Anhui Province, and is located in the triangle of Bozhou Gujing, Huaibei Kouzijiao and Fuyang Golden Seeds.
The highest moment of the blast furnace distillery was in the first decade of the last century, and it once ranked among the top five in the country. In the new century, blast furnace liquor still occupies the first place in the sales list of Anhui liquor for many years, so the liquor industry is known as the "blast furnace phenomenon".
With the fall of Liu Junqing, the soul of blast furnace liquor, in the anti-corruption storm in 2006, the first generation of Anhui liquor boss fell from the peak and once fell into the brink of bankruptcy.
In 2009, Lin Jinfeng, an investment tycoon who had relied on Kweichow Moutai ** to achieve financial freedom and invested in Xifeng Liquor, became the owner of Blast Furnace Home Liquor, and brought many brands such as Blast Furnace, Shuanglun, Blast Furnace Home, Yingke Song and China Huijiu under his command.
Under the rule of Lin Jinfeng, the blast furnace wine briefly continued to write a brilliant story. Data show that from 2010 to 2011, the company's sales revenue was 75.8 billion and 93.8 billion yuan.
However, in 2012, the liquor industry suffered a heavy blow and ushered in a period of deep adjustment that lasted for several years. The ability of small and medium-sized liquor brands to resist pressure is even worse, and the blast furnace home liquor, which gathers multiple brands, has collapsed.
In the early days, Lin Jinfeng was busy with his own investment business, and the Huijiu Group, which was reorganized with blast furnace family liquor as the main body, was handed over to professional managers to manage. However, he was not satisfied with the change of management team three or four times.
In Lin Jinfeng's own words, the investment promotion policy that has blossomed everywhere and the culture of long-term development have been deeply rooted in the hearts of the winery, and the market is being sadly lost one by one.
At the end of 2017, Lin Jinfeng decided to take the helm of Huijiu Group himself. In order to show his determination, this Chaoshan man deliberately moved his household registration from Yinhu, Shenzhen to Blast Furnace Town, Wuyang County.
After that, Huijiu Group began to target high-net-worth individuals to play the cultural card, and created four major IP activities: "Entrepreneurship Summit", "Lecture Hall of Famous Teachers", "Value Investment Forum" and "Laozi Cultural Stage Play".
However, Lin Jinfeng's personal selection of the advertising slogan for Blast Furnace Wine, "Where there is love, there is a home", is a bit too cultural and lacks the taste of wine. Compared with the Anhui liquor peers' "high friends are full of happy encounters, wine meets confidant Gujing Gong", "Yingjia tribute wine, the welcome wine of the Chinese", "Kouzi cellar, natural and fragrant, extraordinary enjoyment", "Ten years of golden seeds, thousands of years of Hui wine rhyme", completely out of place.
Misjudgment and missed opportunities.
In the last round of soy sauce and wine boom, Huijiu Group was not absent. It not only acquired Guizhou Maoyuan Liquor, but also brewed soy sauce wine in Anhui blast furnace distillery. Lin Jinfeng once made a high-profile claim that the product "Blast Furnace Family Centennial Sauce Fragrance" announced the transformation of Huijiu Group from a strong flavor liquor enterprise to a sauce-flavored, thick sauce and aroma liquor company, making the company the first enterprise to produce sauce-flavored liquor in East China.
Now it seems that such radical strategies have not been able to pull up the performance of Huijiu Group. In 2021, Huijiu Group's annual sales revenue will be 40.4 billion yuan, and the target achievement rate is only 731%, a loss of 47.51 million yuan, not even the level of previous years. The company's performance for 2022 and beyond was not disclosed.
Lin Jinfeng once put forward the goals for Huijiu Group - to return to the first camp of Anhui liquor and even Chinese liquor;Listed in 2018 and so on, it has become a dream bubble. After a long period of losses, even the wages of employees cannot be paid normally.
The primary reason why Huijiu Group is difficult to break through is that the competition in the Anhui liquor market is too fierce. At that time, the Gujing Tribute Liquor, Yingjia Tribute Liquor, Kouzijiao, and Golden Seed Liquor behind the blast furnace family were listed one after another, becoming the "Four Golden Flowers of Anhui Liquor", and it was known in the industry as "the west enters Sichuan, and the east does not enter Anhui".
In addition, to the east of Anhui, Jiangsu liquor is also very strong, and Yanghe and Jinshiyuan will regard Anhui as their key market for nationalization. Huijiu Group is in a hurry to go to the doctor to follow the trend and focus on the layout of soy sauce wine, which may also be a helpless move.
Moreover, from an industrial point of view, Lin Jinfeng has misjudged the industry trend several times, which has a great impact on the business layout of Huijiu Group.
At the end of 2012, after the "plasticizer incident", Lin Jinfeng declared, "Even if there is no plasticizer, we judged at the beginning of the year that the first era of the liquor industry has passed, and the peak of growth has come to an end."
In 2015, the liquor industry is at the tail end of the counter-cycle, Lin Jinfeng said in an interview with **, "My judgment on the liquor industry is that it has not yet bottomed out, the current recovery and recovery is just an illusion, next year will likely be more severe, wine companies also need to be fully prepared."
These remarks made the liquor industry sweat. However, in 2016, the liquor industry started a recovery cycle, and Kweichow Moutai ushered in a new round of growth. Huijiu Group may have lost some industry opportunities in such a misjudgment.
Difficult to rejuvenate?The competition is becoming increasingly fierce, and the helmsman has misread the industry trend, and it is naturally difficult for the Huijiu Group under the leadership of the "layman" to become the mainstream of the market. Recently, there have been industry reports that blast furnace homes are gradually disappearing from Anhui liquor circulation channels and consumers.
Lin Jinfeng can make a lot of money by frying Kweichow Moutai, and he will definitely be able to succeed in a liquor companyHe has spent more than ten years proving that "professional things still have to be done by professional people".
Before investing in and personally taking charge of Huijiu Group, Lin Jinfeng's main business was investment, and he said that he had "never missed a beat" in the past 30 years.
He once told the story of his investment when he was a teenager. In his junior year of high school, he followed his father into the Shenzhen Stock ExchangeOn the first day of study at Shenzhen University, students will receive 6,000 yuan in tuition and living expensesIn the four years of college, I took a bus for more than an hour every Monday to Friday.
In 2003, Lin Jinfeng established Yingxin Investment, based on the experience of ** liquor business, and spent 12 million yuan to auction Kweichow Moutai corporate shares. With the opening of Kweichow Moutai's price increase strategy, his performance soared, his market value skyrocketed, and his personal worth increased dozens of times in a few years.
After that, Lin Jinfeng went deep into the FMCG industry, and his investment targets included Xifeng Wine, Xi'an Distillery, Bingfeng and Beijing Wang Zhihe;It also focused on the real estate industry, invested in Landsea, and became the initiating investor of Shangkun. In addition, there are also many layouts in education, finance, Internet and other industries.
In those years, Lin Jinfeng was like an investment master, often mentioning some counter-intuitive investment ideas, such as "putting all your eggs in the same basket", and wrote two books, one of which is "Away from the Wind".
However, standing at a time node like this, Lin Jinfeng's pressure comes from all directions.
The real estate industry has been deeply adjusted, and the market value of Landsea has fallen to only 300 million Hong Kong dollarsXifeng Liquor, Bingfeng and Wang Zhihe failed to go public;Lin Jinfeng's heart, the meat Hui Liquor Group, in the face of the squeezing growth and structural prosperity of the liquor industry in recent years, seems to be difficult to rejuvenate no matter how hard he tries.
Today, Lin Jinfeng's investment platform Yingxin, as well as the main liquor business platform Huijiu Group, can't even find the official website.
Standing in this winter of 2023, looking back, how much Lin Jinfeng wants to go back to 2015.
That year, Lin Jinfeng cleared Moutai, with a cost of 12.1 million yuan in cash of 114.3 billion yuan, a big profit of nearly 100 times. He invested the money in real estate and liquor. The money earned by luck is ultimately lost by strength.
And Kweichow Moutai, it was from that year that the ultimate myth was brewed, and the stock price has doubled several times in a few years. In fact, sometimes when I think about it, life is just a big dream.
In the investment world, there are many people who are called "China Buffett". Among them, the one who wants to become the Chinese version of Buffett the most is probably Lin Jinfeng. This is his idol since he was a teenager. Now, he attends Warren Buffett's shareholder meeting every year, and has given gifts to the old man several times, one of which is the blast furnace family vintage wine.
Warren Buffett, who is used to drinking Coke, doesn't know if he is used to drinking liquor.