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Chang'an Town, Dongguan is not only the hometown of Chen Hongdao, the "herbal tea king", but also the place where he made his fortune.
However, the reporter of Time Weekly recently made a field visit and found that the first herbal tea production base built by Chen Hongdao here has stopped production. The Chang'an production base in Dongguan of Jiaduobao is deserted, and only a few security guards and cleaning personnel walk around occasionally.
A similar situation occurred in other plants under JDB. According to the Daily Economic News, the Hangzhou factory of Jiaduobao has also stopped production recently, and its workers are underpaid. The Sichuan factory of Jiaduobao "produces only a few days a month", while the two factories of Jiaduobao in Qingyuan have experienced significant layoffs.
An insider close to Jiaduobao told the Times that Jiaduobao had been out of stock in a large area of the country due to the shutdown of many factories across the country, which was further confirmed to the Times reporter by several dealers across the country.
Behind the "emergency" of factories across the country, it points to the capital chain of Jiaduobao that is drying up. The above-mentioned insiders pointed out that due to the shortage of funds, JDB had to cut some production lines.
At the same time, a vigorous internal revolution is taking place in Jiaduobao. The Times learned that recently, JDB is making a major adjustment to "increase income and reduce expenditure". As a result, layoffs, streamlining and consolidation of departments took turns. Can you help Jiaduobao survive the cold winter by being frugal?
Plant shutdown
After the typhoon "Shanzhu", the Jiaduobao factory located on Changqing Road, Chang'an Town, Dongguan was in a mess.
Contrary to the neatness and cleanness of the next street, there are branches and leaves blown off by the wind in front of the Jiaduobao factory, and two cleaners in the factory are busy sweeping the floor, which seems to be overwhelmed.
The reporter of Time Weekly saw through the fence of the factory that there was no roar of machines and no smoke from the chimney, which made it very quiet. At the door of a factory building, there was a red truck, but there was no sign of any cargo. One afternoon, only cleaners, security guards and a few one or two staff members walked around the factory, and only a small truck suspected of pulling goods entered the factory.
A clerk in the restaurant opposite the factory told the Times that the factory had stopped production since the beginning of this year. "The workers have quit seven or eight," the clerk said.
The security guard in the parking lot of another hotel further confirmed this to the reporter of Time Weekly. He told the reporter of Time Weekly that "compared with the past, there are obviously fewer cars coming to the factory to pull goods recently".
When the reporter of the Time Weekly asked the security guard at the factory gate and a salesperson in uniform for further information on the reason of job hunting, the first reaction of the other side was that "no one will be hired now", but when asked whether the factory has stopped production, the reporter declined further inquiries on the grounds of "unclear".
Established in 1998, Jiaduobao Factory, located in Chang'an Town, Dongguan, is the first production base of Jiaduobao in China. The official website of Jiaduobao Group describes it as "the birthplace of Jiaduobao Herbal Tea, the cradle of Jiaduobao Group's culture and talents. From here, Jiaduobao Herbal Tea becomes popular in China and goes to the world."
Although the poster on the bulletin board at the gate of the factory has faded, a passage in it is still clearly visible: "Jiaduobao is a large enterprise integrating raw material planting, beverage production and sales. The company was founded in 1995, and in 1996, the first can of red herbal tea was created and launched. In 1998, Jiaduobao established its first production base in Chang'an Town, Dongguan City, Guangdong Province. Later, in order to meet the needs of national and overseas market expansion, Jiaduobao successively established its first production base in Shaoxing City, Zhejiang Province, Shishi City, Fujian Province, Beijing City, Golmud City, Qinghai Province, Wuhan City, Hubei Province, Hangzhou City, Zhejiang Province, Qingyuan City, Guangdong Province, Ziyang City, Sichuan Province Xiantao City and other places in Hubei Province have established production bases. " In a few words, it outlines the development of JDB for more than 20 years.
However, today, similar situations are also happening in other plants of JDB.
According to the Daily Economic News, two factories in Qingyuan, Guangdong, are in a "semi shutdown" state, and one of them has a large layoff; At present, the production of the factory located in Sichuan Jiaduobao is not smooth, and the workers say that "it takes only a few days to produce in a month"; The Jiaduobao factory in Hangzhou has stopped production, and employees are being initiated to safeguard their rights due to salary arrears.
The shutdown of the factory caused a large area of shortage of Jiaduobao across the country. Dealers in many places have reported to the Times that since this summer, it has been difficult to get goods from JDB, which has never happened before.
According to InterfaceNews, when visiting some circulation channels in Beijing, the reporter found that Jiaduobao was out of stock in some Yonghui supermarkets and full-time convenience stores, and only a few supermarkets could see Jiaduobao products. However, a reporter from Time Weekly visited several supermarkets in Guangzhou and found that although JDB was not out of stock in Guangzhou, the production date on the shelves was generally older, mostly in 2017. Zhu Danpeng, an analyst of the Chinese food industry, once pointed out to the reporter of the Times that this was caused by a large amount of inventory accumulated by JDB in order to compete with Wang Laoji in the price war.
Capital dried up
An insider close to JDB pointed out to the reporter of Time Weekly that the reason for the shutdown was the shortage of capital of JDB. "Jiaduobao may be a little short of funds, so it has cut many production lines, and now the overall capacity is seriously behind." The person said.
The capital status of JDB is not nowhere to be found. Previously, a reporter from Time Weekly reported that Jiaduobao's financial data was exposed for the first time in the "reorganization of Rashomon" with ZH Shares. According to the announcement disclosed by ZH Shares, the unaudited main business income of Jiaduobao from 2015 to 2017 was RMB 10.04 billion, RMB 10.63 billion and RMB 7.002 billion, the net profit was RMB - 189 million, RMB 1.48 billion and RMB - 582 million, respectively, and the total liabilities reached RMB 13.167 billion. In 2017, the operating income and net profit of JDB declined significantly. This is quite different from the previous media reports that the sales of JDB in 2015 – 2017 were about 25 billion yuan, 24 billion yuan and 15 billion yuan respectively.
However, Jiaduobao subsequently issued a statement saying that the operation and financial data of Jiaduobao Group stated by ZH Shares in the announcement were seriously inconsistent with the actual situation.
However, Zhu Danpeng believes that this group of data is more consistent with the market situation presented by JDB in recent years. "It can be said that the capital chain of JDB is very tight."
The drying up of funds may be related to the "sequelae" left by the competition between Jia Duobao and Wang Laoji.
"At the beginning, the ex factory price of a case of herbal tea was more than 70 yuan, and the terminal price for selling it to consumers was more than 80 yuan. But during the 'price war', a case of Jiaduobao herbal tea sold for 50 yuan, while competing products sometimes sold for more than 30 yuan, and we all had a hard time." Li Chunlin, the president of Jiaduobao, once described the state of Jiaduobao during the price war to the media. Li Chunlin pointed out that it was not until 2018 that JDB withdrew from the price war.
Xu Xiongjun, an enterprise strategic positioning expert and the founder of Shanghai Jiude Positioning Consulting Co., Ltd., once analyzed the reporter of Time Weekly, "In fact, Jiaduobao and Wang Laoji are both defeated, and their profits in recent years are not high. For Jiaduobao, it has cost a lot of human, material and financial resources to push the gold pot again".
Recently, in an interview with a media, Li Chunlin also admitted that there had been serious problems in the capital chain, but he said that now JDB has solved the problem. He said: "Jiaduobao has experienced several 'wars' before, including changing the brand and packaging, each of which was a disaster for us, but Jiaduobao survived... In addition, the liquidity of domestic enterprises was relatively tight at that time, and Jiaduobao's cash flow was short-term severe. I thought it was relatively normal, not serious, but abnormal! But we have adopted various methods to increase income and expenditure, improve quality and efficiency in a timely manner, which has greatly boosted our confidence, and our cash flow is gradually becoming normal. "
Or early listing
A drastic change is taking place inside JDB.
According to Li Chunlin, "Since March, Jiaduobao has abolished the cadre canteen and all employees share a canteen. Through the introduction of advanced management systems, it has improved the level of intelligence, The IT management and data processing team has been reduced from more than 300 people to 6 people... In terms of structural adjustment, JDB has tightened the level of the management structure, and some headquarters directly share the business units, implementing flat management. "
The above person told the Times that due to the large layoffs in some branches of JDB, in order to save office resources, JDB simply transferred its employees to the dealers to work together. However, the reporter of Time Weekly failed to confirm this statement in the aspect of JDB.
In March, in the 2018 – 2020 medium-term development plan, Jiaduobao said that the future strategic goal is to start a second business, increase income and reduce expenditure, integrate advantageous resources, and successfully list the company within three years.
The listing plan of Jiaduobao is likely to be advanced. Recently, Li Chunlin said in an interview with the media that the fourth quarter of 2018 is a key node in the listing process of Jiaduobao for its listing plan. "At present, Jiaduobao has invited international professional audit institutions to comprehensively sort out the company and prepare for statement consolidation. If things go well, Jiaduobao is likely to complete its listing plan in advance," said Li Chunlin.
However, the industry generally believes that listing is a helpless move for JDB. Zhu Danpeng previously told the reporter of the Times that it is urgent to go public, representing the extreme shortage of funds of JDB.
For Jiaduobao, which has been in turmoil for a long time, listing is not easy. To achieve listing, JDB needs good financial performance to support its performance. In addition, Chen Hongdao, the actual controller of Jiaduobao, has fled so far, which has also become one of the obstacles to the listing of Jiaduobao.
Previously, Jiaduobao also fell out with COFCO Packaging and ORG, two major domestic packaging giants, for failing to fulfill the agreement, which also added many variables to the development prospects of Jiaduobao. In order to balance Jiaduobao, COFCO Packaging has filed arbitration and litigation applications against Jiaduobao. In the semi annual report, COFCO Packaging clearly stated that it has stopped supplying cans to Jiaduobao.
However, the relationship between Jiaduobao and COFCO Packaging seems to have turned around recently. The relevant person in charge of COFCO Packaging Investment Department told the Times: "At present, our company has resumed supplying some cans to Jiaduobao, but considering the current situation of Qingyuan Jiaduobao joint venture project, the cans are supplied after payment to protect and realize the interests of the company and shareholders." However, The person in charge also said: "The arbitration was carried out in accordance with the legal process, and our company has realized the litigation preservation of the Jiaduobao trademark." This means that Jiaduobao still has to face the arbitration and legal proceedings of COFCO Packaging.
As for the cooperation relationship with JDB and whether to stop supplying cans to JDB, the reporter of Time Weekly sent an interview letter to ORG, but no reply was received as of press release.
There is not much time left for JDB to solve the problem of capacity shortage. The opinion of this article only represents the author himself. If the source of the article is a network reprint, this website is an information publishing platform. If there is infringement, please contact this website to delete it in time.
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