Venture capital boss Lin Jinfeng left, the original shareholders withdrew, new shareholders merger and acquisition, and Xinhui Liquor Group ......Many keywords have brought the former "Brother Huijiu" into the public eye again.
On February 18th, *** Blast Furnace Home丨Huijiu 1949" released an open letter "Return to the Original Intention, Start Again - Blast Furnace Family Letter".
The information shows that after a period of turmoil last year,Huijiu Group has now completed the overall merger and acquisition of the company by the new shareholders, "the original shareholders have withdrawn from the historical stage,"The future Huijiu Group is no longer a Huijiu Group with hundreds of surnames, but a blast furnace family born and raised in Voryang, belonging to every family, and is the same age as New China. At the end of the article, the inscription is "New Huijiu Group", but the official seal is still the shares of Huijiu Group
Source: Huijiu Group***
On the evening of February 18, Lin Jinfeng confirmed on WeChat that the new shareholder of Huijiu Group had completed the overall merger and acquisition of the company, and he had withdrawn from Huijiu Group.
It is understood that Lin Jinfeng once auctioned Moutai ** for 12 million yuan in 2003 and became the fifth largest shareholder, holding shares for 12 years and gaining 114.3 billion yuan, with a return rate of more than 95 times, has become famous since then, and is known as "the most bullish Moutai shareholder".
The "original shareholder" changed hands and the "new shareholder" surfaced?
After the original shareholder withdraws, who is the new shareholder? With Lin Jinfeng's departure, the topic around Xinhui Liquor Group has not diminished.
According to Yunjiu Vision, the above-mentioned "new shareholder" is a creditor of Lin Jinfeng, who intends to enter Huijiu Group to dispose of assets to protect the interests of creditors.
Tianyan check shows that there are 33 promoters and 30 shareholders of Huijiu Group, and Shenzhen Yingxin Guofu Industrial *** hereinafter referred to as Yingxin Guofu) subscribed 32.5 billion yuan as a major shareholder.
Source: Tianyancha.
Among the 33 shareholders of Huijiu Group, Yingxin Guofu holds 644216%, followed by Guizhou Seventh Element Technology *** Yingxin Investment Group Co., Ltd. *** hereinafter referred to as Yingxin Investment) and other shareholders of the company, as well as 24 natural person shareholders such as Zhu Chuting, Chen Li, and Lin Chuqing.
According to Yunjiu Vision, many shareholders of Huijiu Group have withdrawn their shares between September 2020 and January 2024, of which a total of 30 shareholders have withdrawn their shares on January 14, 2023. The remaining shareholders include Yingxin Guofu (96.).26%) and Yingxin Investment (374%), and the majority shareholder of the latter is Lin Jinfeng.
On the evening of February 18, Lin Jinfeng confirmed to ** on WeChat that he had withdrawn from Huijiu Group. In fact, in a previous interview, Lin Jinfeng publicly stated that he had decided to withdraw from Huijiu Group.
According to the analysis of Yunjiu Vision, as the largest shareholder of Huijiu Group, although Yingxin Guofu still holds shares of Huijiu Group, its actual controller has been changed from Yingxin Investment to Shenzhen Huaxin Hongye at the end of last year, hereinafter referred to as Huaxin Hongye), and is 100% controlled by the latter.
According to the enterprise investigation, since September 1, 2022, Lin Jinfeng and other executives of Yingxin Investment Group have successively withdrawn from Yingxin Guofu, and by December 18, 2023, 100% of Yingxin Investment Group has withdrawn from Yingxin Guofu, and Huaxin Hongye has entered at the same time.
In other words,Starting from the end of 2023, the actual controlling shareholder of Huijiu Group has become CEFC Hongye.
According to public information, Huaxin Hongye was established in November 2009, the legal representative is Sun Zaihua, the registered capital is 100,000 yuan, the enterprise address is located in Longgang District, Shenzhen, the industry is the wholesale industry, the business scope includes, domestic **, goods and technology import and export.
At present, Huaxin Hongye has two controlling shareholders, namely Shenzhen Muwei Management, hereinafter referred to as Muwei Management, holding 30% of the shares) and Shenzhen Yunshenghong Management Enterprise (Limited Partnership) (hereinafter referred to as Yunshenghong, holding 70% of the shares), and Muwei Management also holds 1% of the shares of Yunshenghong.
According to the data, Muwei Management was established on January 5, 2024, the legal representative is also Sun Zaihua, with a registered capital of 500,000 yuan, the corporate address is located in Nanshan District, Shenzhen, and the industry belongs to the business service industry.
In addition, another shareholder of Yun Shenghong is Shenzhen Da Butler Information Technology *** hereinafter referred to as Da Butler Information, holding 99% of the shares), and its actual controller is Zhang Wenli (holding 99% of the shares).
From the information of the big housekeeper and the management of Mu Wei, to Zhang Wenli and Sun Zaihua behind it, the "original shareholder" of Huijiu Group, Yingxin Guofu, will change hands, and whether it will lead to a "new shareholder" is also worth paying attention to.
75 years of the former "Huijiu First Brother".
The predecessor of Huijiu Group is "Blast Furnace Home", a long-established winery located in Wuyang County, Bozhou, Anhui Province, with a history of 75 years, and has had a highlight moment.
As an "old famous liquor in Anhui" with a history of thousands of years, as early as 1984, the blast furnace aging under the blast furnace distillery won the bronze medal of the liquor quality competition held by the Ministry of Light Industry. In the first decade of the 20th century, only with the ex-factory price of 12 yuan bottle of "double wheel pool", the blast furnace family obtained nearly 1 billion sales revenue; After 2000, the blast furnace family occupied the first place in Anhui liquor sales for four consecutive years, of which the sales volume in Hefei market alone was as high as 1600 million yuan, accounting for 60%-70% of the sales volume of the same grade liquor, it is known as the "blast furnace phenomenon" in the liquor industry.
According to the Liquor Observation Report, in 1996, the revenue of the blast furnace distillery reached 7500 million yuan, second only to Gujing Gongjiu in the Huijiu market at that time.
During Liu Junqing's tenure as the director of the blast furnace distillery in Wuyang County, the blast furnace family entered its heyday, and the blast furnace distillery was the largest profit and tax owner in Wuyang County for many years, accounting for 70% of the county's finance.
In 2004, Liu Junqing, the former director of the blast furnace distillery, was dismissed in the anti-corruption storm, and the blast furnace family was once on the verge of bankruptcy.
In 2009, Anhui Shuanglun Liquor Industry was exposed to 20.9 billion yuan of the reserve price listed **100% equity. Subsequently, the blast furnace distillery was restructured and began to seek capital cooperation.
In September 2009, Lin Jinfeng, through its Yingxin Capital, took 30.9 billion yuan, becoming the new helmsman of the blast furnace distillery.
Since then, the performance of blast furnace distilleries has improved slightly. According to public reports, the sales of the blast furnace distillery (then known as "Shuanglun Liquor") reached 75.8 billion yuan, reaching 93.8 billion yuan.
In 2014, the blast furnace distillery was changed to Huijiu Group, integrating its brands such as blast furnace, Shuanglun, blast furnace home, Yingke pine and China Huijiu. According to an exclusive interview with Lin Jinfeng in 2015, Huijiu Group's sales in 2014 exceeded 800 million yuan, and its net profit reached 40 million yuan, which was the first fiscal year profit after the restructuring.
Source: WeChat***Blast Furnace Home丨Huijiu 1949".
After the restructuring is completed, Lin Jinfeng hopes to inject modern corporate culture into this traditional wine company. According to every headline report, in 2018, after Lin Jinfeng personally took over the management of the winery, he brought some new ideas, but these new ideas conflicted with the winery's past philosophy. Lin Jinfeng was not satisfied with the management at that time, and hoped to operate the winery in a way that reduced costs and increased efficiency, and focused on solving the problems left over from the history of the winery, but for various reasons, the rectification plan could not be realized.
At the same time, Lin Jinfeng put forward a revenue target of 10 billion yuan and sought to go public. He said that he hoped that Huijiu Group's sales would exceed 2 billion yuan in 2018 and 10 billion yuan within ten years, becoming the leading brand of Anhui liquor, and at the same time achieving IPO listing in A-shares.
But it turns out that Lin Jinfeng's strategic blueprint has not been realized, and the company's current performance is too far from Lin Jinfeng's original vision. Huijiu Group, which was listed in 2018, also failed to go public as scheduled. Previously, a number of ** public reports that in 2021, Huijiu Group will sell 403.9 billion, with an achievement rate of only 731%, with a loss of 47.51 million.
From January 1, 2024, all employees of Huijiu Group will be on holiday, and the reason given by the company is: in order to solve the impact on the career development of all employees due to the company's insufficient orders and financial difficulties.
In terms of products, the development of soy sauce wine products is not effective, the 100-year-old products are unsatisfactory, and the 5-year, 6-year, 8-year, and 10-year Harmony Vintage series have suffered systematic losses.
According to Blue Whale Finance, an employee who has experienced the glory of the blast furnace family saidThe decline of the blast furnace family is mainly due to the frequent changes in decision-making at the top. Repeated substitutions, resulting in repeated new product promotion, repeated investment, and finally continuous losses, until the current situation.
Can the "Third Revival" be realized?
After 2018, Huijiu Group has launched the latest strategic products many times, which are considered to be chaotic product lines and have not formed competitive core products.
In the eyes of industry insiders, it is a mistake for blast furnaces to launch new products one after another, and the same brand carries multiple fragrances. According to the headlines, the problem of blast furnace home is that a single brand chooses multiple fragrances, which has caused huge difficulties in market and consumer identification.
So what's next for Xinhui Liquor?
According to the above-mentioned open letter, with the entry of new shareholders, Xinhui Liquor Group has made comprehensive adjustments and re-planning for the group's operation and management, production and sales, products and brands. The Group has reformulated a new three-year development plan to reshape the market positioning of Blast Furnace Liquor and rebuild the competitiveness of its core products in the near future, and seek the third revival of Xinhui Liquor Group.
But now the competition in the Anhui liquor market is becoming more and more fierce, and the Matthew effect is becoming more and more obvious. Gujing Tribute Liquor, Yingjia Tribute Liquor, Kouzijiao and Golden Seed Liquor in the province are surrounded by strong competitors, and wine companies such as Yanghe and Wuliangye outside the province are also breaking the pattern of "not entering Anhui in the east" and carving up the market share in Anhui. According to every headline report, liquor outside the province has occupied about 22% of the Anhui market, and Yanghe has won a market share of nearly 1.5 billion yuan by virtue of its geographical advantages, posing a huge challenge to the Anhui liquor brand.
From this point of view, Xinhui Liquor Group, which has missed the "**10 years" of liquor, wants to catch up, I am afraid there is still a long way to go, and there is a lot of experience to learn.
* |Anhui Comprehensive.