On September 3rd, Haitian Ye Wei's share price rose to 203 yuan, and its market value exceeded 650 billion yuan, reaching a new high. However, in the afternoon, the stock price took a sharp turn and closed down 6.79%. On September 4, it still fell sharply, with a decrease of 7.68%, and its market value also fell to 553.435 billion yuan. Although the market value of Haitian flavor industry is still huge, many people think it is too high, so we should speculate appropriately to achieve the buffering effect. But it is also an indisputable fact that the stock market plummeted, so where is the reason?

The stock slump in Haitian can be seen from several aspects.

1. Dealers are under great pressure.

As of June 30th, the number of first-class dealers in Haitian Ye Wei was 6,433, which has achieved comprehensive coverage in cities above the prefecture level. But the dealer said: Haitian brand is good, but as a dealer, it is under great pressure and does not make money. From the general direction, the competition in condiment industry is very fierce: brands such as He Qian, Lee Kum Kee, Xinhe, Lu Hua and Chubang seize market share with them; On the small side, the dealers in many places in Haitian are located at the county and town level. There are too many dealers, and cross-selling is serious.

2. Single product

The total income of soy sauce, seasoning sauce and oyster sauce accounts for more than 80% of the total income; Soy sauce alone accounts for about 60% of the total revenue. In the fields of vinegar, chicken essence and monosodium glutamate, the proportion of revenue is not satisfactory. Haitian Weiye has also taken remedial measures: the company's director-general said that Haitian's development strategy in the next few years is to be bigger and stronger in different sub-categories, such as vinegar, hot pot bottom materials and mixed rice. As for the final effect, we don't know.

Three. market saturation

In recent years, the low-end soy sauce market is gradually saturated, and the revenue growth rate of Haitian flavor industry is also facing a shrinking trend. In the first half of the last four years, the revenue growth rate of soy sauce products was 16.59%, 15.85%, 13.60% and 10.7 1% respectively. This also means that Haitian Ye Wei has encountered a bottleneck in the low-end soy sauce market.

A bottle of 650 billion soy sauce? I can't imagine. Haitian, as the main force of soy sauce, has surpassed the real estate giant, China Petrochemical and the Postal Savings Bank, one of the six state-owned banks, and there are certainly many bubbles. But there are so many markets, and the substitutes are getting bigger and stronger, so retrogression is inevitable.

If Haitian Ye Wei wants to achieve a net profit of 20 1 100 million yuan in 2030, it is tantamount to whimsy. With the development of China's social economy and the continuous influx of foreign-funded enterprises, the competition in condiment industry is becoming more and more fierce. At present, the soy sauce market has reached the ceiling, and the challenge brought by the high valuation of Haitian flavor industry can not be ignored. Did Haitian Weiye finally return to China or never recover? Unknown? . ? Song Qinghui said.

In real life, I will keep trying other brands, such as Chubang and Lee Kum Kee, which are worth trying. Haitian soy sauce is good, but it is too expensive! Haitian vinegar, chicken essence and monosodium glutamate are basically useless in daily life, and they feel quite ordinary. The stock market will go up and down, and even if it goes down, it is not necessarily a bad thing if it is under control, at least for Haitian officials.