The good shop ＂clearance＂ Zhao Yiming earned 60 million yuan in half a year.

Originality makes business more valuable.

Author | Chen Chang

Editor | Chen Fang

Operation | Liu Shan

The investment will be cleared after half a year.

A good shop will clear its stock after investing in Zhao Yiming snacks for half a year.

On October 17th, Liangpin Store announced that Ningbo Guangyuan Juyi Investment Co., Ltd. (hereinafter referred to as "Guangyuan Juyi"), a wholly-owned subsidiary of Liangpin Store, intends to transfer its 3% equity of Yichun Zhao Yiming Food Technology Co., Ltd. (hereinafter referred to as Zhao Yiming) at a total price of about 105 million yuan.

Zhao Yiming is a snack discount brand, with South China as an important market. At present, it has opened more than 2,000 stores in Jiangxi, Guangdong, Anhui, Hubei and other places.

In April, 2023, Zhao Yiming was attracted by a good shop, which invested 45 million yuan through its subsidiary. Now, in just over half a year, good shops have chosen clearance.

Through this short-term investment, the return of the good shop is very considerable, and it is estimated that the investment income will be about 60 million yuan.

▲ (source/city boundary)

The financial report shows that the single-season revenue of good shops has declined for four consecutive quarters since the third quarter of 2022.

In the first half of 2023, the revenue of good shops was 3.987 billion yuan, down 18.55% year-on-year, and the net profit was 189 million yuan, down 2.04% year-on-year, falling into a situation of double decline in revenue and net profit.

In this context, the 60 million investment income turned out will undoubtedly make the performance of good shops look better this year.

As for why we want to quit Zhao Yiming, "Market Boundary" asked about the good shops, and the other party replied that the sale was based on the needs of its own business development, which was conducive to improving the efficiency of the company’s asset operation. The company has been actively expanding the distribution of discount snacks business, and the investment income obtained from this transaction is also conducive to the company’s cultivation of brands such as "Snacks Hard Home". In the future, the company will continue to seize the opportunities in the snack market through diversified investment layout.

It is worth mentioning that the transferee of this transaction is related to Black Ant Capital, which once participated in the investment in Zhao Yiming with Liangpin Store.

Eye-catching investigation shows that the two transferees of this transaction-Shanghai Yihai Enterprise Management Consulting Partnership (Limited Partnership) and Xiamen Heiyi No.3 Overseas Connection Venture Capital Partnership (Limited Partnership), their executive partners are all Gongqingcheng Yiyuan Investment Partnership (Limited Partnership). The shareholders of Gongqingcheng Yiyuan are He Yu and Zhang Peiyuan, founding partners of Black Ant Capital.

In other words, a good shop is equivalent to transferring its 3% equity directly to the relevant funds of the original shareholders in Zhao Yiming.

Discount snacks are not fragrant?

Zhao Yiming’s discount snack industry has attracted much attention in recent two years, and it can be seen everywhere in many towns and villages. This model focuses on customized products or "white-brand" products commissioned by Shangchao, and its price is cheaper than that of Shangchao, and there are many SKUs, which meets the needs of young people to pursue cost performance and one-stop shopping.

Huatai Research estimates that the number of discount snack shops in China will increase by over 100% from 2021 to 2022. By the first half of 2023, the number of discount snack shops in China may have exceeded 16,000.

The opportunity to cause such a large-scale outbreak is the intervention of capital after 2021. Among them, Snacks Youming has received several rounds of financing, including Caive Fund, Xinxian Capital and Masu Nozomi Fund, etc. Snacks are very busy with over 200 million financing jointly led by Sequoia China and Gaorong Capital, and Zhao Yiming Snacks have also won the favor of Black Ant Capital and good shops, which is the only financing of the company.

These three stores are also the three leading snack discount racetracks at present. According to the "market boundary", snacks are very busy to announce that the number of stores has exceeded 4,000 in early October, and the number of Zhao Yiming snacks in official website shows more than 2,000.

▲ (Source/Snacks are very busy in official website)

A fact that can’t be ignored is that the discount snack industry is gradually exposing its own problems, and consumers’ complaints about snack shops can be seen everywhere on the Internet, including the inflated prices, the lack of weight and the shortage of food quality.

In February of this year, some netizens broke the news that they bought a little snack for 100 yuan in a snack shop, and felt it was a little expensive. Later, they saw a chicken feet with pickled peppers marked 45g, and bought two snacks and actually weighed 118g. Subsequently, the netizen calibrated with his family’s scale and found that each product was 25g more on average, which calculated that the price was 57% higher.

In the case of black cat complaints, quality problems also make consumers angry. In September, a consumer bought a mother’s beef stick in Shaoxing snack discount brand Wife’s adult, which was moldy. "At that time, I immediately contacted the merchant, and the merchant admitted that it was their own problem, but in the end we did not negotiate successfully. We hope to pay according to the food safety law." In addition, incidents such as bread eating hair and biscuits eating wire have also occurred.

Franchisees are even worse. The "city boundary" has previously calculated according to the joining standards of various companies. It is impossible to open a snack shop without 700,000 yuan or 800,000 yuan, but there are many people who have lost money. Some people feel that it is becoming more and more difficult to open a snack shop.

First, because the public’s freshness to this format is limited, the peak of passenger flow only appears in the early stage of opening. In addition, the problem of homogenization in the industry has become more and more serious, and the phenomenon of getting together to open stores has become the norm. For example, in the county town below Wuhu, Anhui, one street can open four or five snack shops. Fierce competition leads to market saturation, which in turn affects the passenger flow and revenue in the store, and losses and closures follow. Like the wife’s adult, the best choice of snacks, Zhao Yiming snacks, snack daddy, and sweeping away the light, there have been news that franchisees have withdrawn from the store.

Liangpin store believes that discount snacks mainly seize market share through high cost performance, and its core lies in efficient supply chain integration, store resource layout and organizational operation ability.

Despite this, many research institutions predict that there will be track opportunities for snack supermarkets, and there is a high possibility that there will be a brand of Wandian in the future. In addition to investing in Zhao Yi Ming, Liangpin Store also expanded the new brand of snack discount chain business "Snacks Hard Home" in the second half of 2022.

In the semi-annual report of 2023, Liangpin Store mentioned that offline channels still occupy more than 85% of the circulation share of snack foods, and modern channels such as snack specialty stores and convenience stores constantly occupy the market share of traditional mom-and-pop stores, and the channel upgrading trend is obvious. This shows that the company is still optimistic about the offline discount store model.

After consulting the snack makers, the "City Boundary" learned that at present, the number of its stores is more than 200, and it is only open to join in Hubei. The plan of Liangpin Store is to open 500 new stores before the end of this year.

Originally produced in the city, please do not reprint it without authorization.

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Unless otherwise specified, the pictures are all from vision china.

Original title: "Good shop" clearance "Zhao Yiming, earned 60 million in half a year"

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