It is said that "food is the sky", in fact, in addition to the food and beverage industry, there is a huge consumer treasure that is ignored by people, that is, tableware.
Chopsticks are essential eating tools for Chinese people. Chopsticks were first used during the Shang and Zhou Dynasties, and have a history of 3,000 years.
It can be said that the Chinese people have a very deep affection for chopsticks. It is not only a tool to help people pick up food, but also has been given a lot of meanings such as longing, inheritance, watchfulness and so on.
Chopsticks are small, but in this huge market of 1.4 billion people, the size of the industry should not be underestimated. Moreover, as the influence of Chinese food expands, the demand for chopsticks in overseas markets will continue to grow.
In this low-profile but huge growth space in the small industry, the head of the enterprise is standing out, A shares also finally ushered in belong to its "chopsticks first shares!
One
Three hundred and sixty lines, the line of work. Nongfushanquan's revenue is 20 billion dollars a year from a bottle of water, and now Double Shot Technology has successfully listed on the stock market with a pair of bamboo chopsticks.
It is strange that this year, the A-share ushered in a variety of mass consumption "first shares" of the competition. Over there, the "scissors first stock" Zhang Xiaoquan has just been approved for registration, this side of the "chopsticks first stock" double gun technology has been knocking on the gong listed.
August 5, Double Shot Technology Co.
The IPO issue price of 26.4 yuan / share, the day of the opening of the stop, 38.02 yuan / share, soaring 44.02%, the total market value of 2.737 billion yuan! After 2 trading days of continuous suspension, today closed at 46 yuan / share, the latest market capitalization of 3.312 billion yuan.
The public information shows that the double gun technology was established in 2002, is a leading supplier of daily meals and kitchenware, is committed to daily meals and kitchenware research and development, design, production and sales, the company's products mainly include chopsticks, chopping boards, spoons and spatulas, sign and other meals and kitchenware 5 categories, more than 1,000 kinds of single product.
The world's largest chopstick manufacturer, Olympic chopsticks, Expo chopsticks ----- major honors, is more than enough! "chopsticks first stock" in the end how cow?
The prospectus shows that double shot focus on chopsticks and other daily dining kitchenware category, do 20 years, the current annual sales volume of more than 300 million pairs. Every year, there are about 320 million pairs of chopsticks, more than 10 million cutting boards, 9 million spoons and spatulas, 8 billion toothpicks, and 3 million other kitchen utensils are produced by Double Shot Technology.
It is worth mentioning that today, those who are full of the atmosphere of the marketplace is born in the line of IPOs - with a history of 400 years of scissors, Zhang Xiaoquan, is about to create a "scissors first stock! "
Many people may not have heard of the pre-prepared food brand Ajisaika, which went public in April this year, with a market capitalization of 6.5 billion; and Babi Foods, which relies on a husband-and-wife store to sell buns, and whose market capitalization reached 9 billion after its IPO. ..... All of these companies are often seen in our daily lives, but almost none of them have been in the vision of VC organizations, which is a dramatic scene.
II
How big can a company that started with chopsticks get? The answer is probably more than you can imagine.
From 2018 to 2020, Double Shot Technology's revenue will be 608 million yuan, 718 million yuan, 834 million yuan, respectively; its net profit will be 45.97 million yuan, 71.84 million yuan, 89.76 million yuan, and the compound annual growth rate of its revenue and net profit will be 17% and 39%, respectively, which is a strong growth trend.
From an industry perspective, with the upgrading of the level of consumption of the population, for environmental protection, fashion and other higher levels of consumer demand continues to rise, tableware as a category of immediate needs, to replace the upgrade is expected to be strong, the size of the industry and the rate of growth of imagination is huge, the future development of the future can be expected.
Double shot in the end what magical power, can make a small chopsticks into a big business of 8 billion?
The world of bamboo to see China, China's bamboo to see Zhejiang. Double gun technology was born in Zhejiang, the founder of the "chopstick king" known as Zheng Chenglie.
Chenglie Zheng was born in 1970 in a remote village in Qingyuan, Zhejiang Province. -The family of six siblings, the conditions are difficult, the eldest sister died early due to illness, Zheng Chengyeol in front of his sister's grave weeping, swore in his heart, to excel, to change the fate of the family.
Convinced that knowledge can change the fate of Zheng Chengyeol, rely on hard work, in the academic excellence, became the local school bully, but also get rid of the natural stuttering.
After the high school exams, Zheng Chenglie was admitted to the Zhejiang Industrial School, and after graduation, he was assigned to the Qingyuan local construction worker.
At that time, Zheng Chenglie's dream was to do something in the construction industry and become a millionaire. But the reality is far from the dream. In the face of the dilemma of the construction company's year-round salary of only a few hundred dollars a month, he decided that he had to rely on himself to do something.
Three
Bold, fast, and willing to work hard are the same qualities of the Zhejiang businessman, and Zheng Chenglie is no exception. He decided to quit his job and join the tide of business.
From 1994, Zheng Chenglie began his own business path, has sold raw materials for mushrooms, opened a grocery store, cosmetic store, bookstore, clothing store ...... Almost any business has been done, but ultimately ended in failure, until later took over the hands of his brother on the verge of closure of the small chopsticks factory.
At the time, chopsticks were cheap and homogenized in the market. Zheng Chenglie decided to improve the quality of chopsticks, so borrowed 20,000 yuan loan sharks, bought plant equipment, and finally developed 12 pairs of craft chopsticks, a **** production of 120 boxes.
The result is no one asked for, Zheng Chenglie finally contacted a businessman in Yiwu is willing to "first sales, after the settlement", sent to Yiwu merchants, who know that Yiwu businessman's family is strongly opposed to stocking pressure, and finally from the afternoon to 21:00 at night to agree to the warehouse.
At this point there is no porter, Zheng Chenglie a person, rushed to move goods 120 boxes of bamboo chopsticks, and then put forward a request for a nap in the warehouse. For the sake of not saving hotel fees, but full of 120 boxes of bamboo chopsticks of strong love points, so on the product, how can love be embarrassed. Impressed by the sky, impressed by the ground, I do not know whether it also impressed the Yiwu dealers and thousands of users, the next day Zheng Chenglie went back to the Yiwu dealers received a phone call, 120 boxes of bamboo chopsticks all sold cozy.
From then on, double shotgun bamboo chopsticks, demand exceeds supply.
With the product differentiation, Zheng Chenglie do high-end craft chopsticks also quickly in the entire chopstick market has become a unique brand, income growth rate for six consecutive years reached more than 60!
In 2002, Zheng Chenglie formally established the Double Gun Technology Company, focusing on kitchen tools manufacturing, expanding the category to cutting boards, spatulas, spoons, sticks and other kitchen utensils, and spend tens of millions of dollars to improve production lines, while the introduction of information management.
Not only that, Double Shot Technology has also become the supplier of gift chopsticks for the 2008 Beijing Olympics, 2010 Shanghai World Expo and 2016 Hangzhou G20 Summit, bringing high-end Chinese chopsticks into the world's view.
Weapons
Looking back on more than 20 years of entrepreneurial history, someone once asked Zheng Chenglie: "Are you tired?" Zheng Chenglie's answer is: "Entrepreneurship is really tiring, heart tired. But the entrepreneurial road with a great dream, although bitter but sweet.
Also, from taking over a chopstick factory on the verge of closure, to selling more than 300 million pairs of chopsticks a year, Zheng Chenglie, Ye Lirong couple behind the hardships can be imagined, but the bitter sweet ta finally realized the freedom of wealth.
From the shareholding structure, Double Shot Technology is another typical family business.
As of IPO, founder Zheng Chenglie directly holds 8.38% of the company's shares, indirectly holding 34.99% of the shares through David Tien's investment, holding a total of 43.37% of the company's shares; Ye Lirong directly holds 6.30% of the company's shares, indirectly holding 8.75% of the shares through David Tien's investment, holding a total of 15.05% of the company's shares. Mr. and Mrs. Zheng and Mr. Ye together hold 15.05% of the Company's shares. Mr. and Mrs. Zheng and Mr. Ye together hold 58.42% of the shares of the Company and are the *** same as the actual controller of the Company.
According to today's market capitalization, Zheng Chenglie's family is worth more than 1.9 billion yuan!
This year's quarter double shotgun The performance of science and technology is even more eye-catching. 2021 January to March, the company realized operating income of 206 million yuan, an increase of 57.98% over the same period last year, attributable to the shareholders of the parent company's net profit of 14.72 million yuan, an increase of 65.73% over the same period last year; net profit of 13.9 million yuan, net profit after deduction of non-recurring gains and losses, attributable to the shareholders of the parent company. The net profit attributable to the shareholders of the parent company after deducting non-recurring gains and losses was 13.9 million yuan, an increase of 84.50% over the same period of the previous year.
The root of the problem is that a sudden epidemic, so that the home life has become a daily routine, in the face of a sudden large amount of extra blank time, many young people began to cook their own food, research food, which also gives the food industry chain upstream and downstream of the kitchenware, tableware and so on to bring the opportunity.
In addition, compared to kitchenware, tableware is consumed faster and needs to be replaced more frequently, especially chopsticks.
Data shows that, according to the frequency of each family 3-5 years to replace a cutting board, the annual demand for cutting boards in China will reach about 115 million pieces. And according to the frequency of replacing chopsticks per person per year, the annual demand for chopsticks in China will reach a staggering 1.4 billion pairs or so.
And, with the expansion of the influence of Chinese food, the demand for chopsticks in overseas markets continues to strengthen! It is foreseeable that the daily meal kitchenware industry market prospects are broad, double gun technology future can be expected!
References:
Tian Tian IPO, "Zhejiang couple, rely on 300 million pairs of chopsticks to support an IPO,"
Deep Blue Finance, "Chopsticks" behind the "invisible champions!
Muddy Waters' research: "How did Cheng Cheng-yeol become the "chopstick king" when the "first chopstick stock" Double Shot Technology went public?
Global Tiger Finance app, "Chopsticks: The First Chopsticks Company to be Listed on the Main Board of the Shenzhen Stock Exchange: 300 Million Pairs a Year, 20 Years in the Making"
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