Xiabu Xiabu Group's performance fell off a cliff, and its share price continued to slide. Recently, there was a series of executive turmoil, which forced CEO Zhang Zhenwei to leave, and Zhao Yi, the president of the group, was first laid off and the executive director was removed. Although the financial report in 22 shows that Xiabu Group still has 1 million yuan on its books, the chaotic brand status, positioning and revenue make people wonder how long the once cheap fast food hotpot will last.

Both Xiabu Xiabu and Zhao Yi have their own problems. The biggest one is that they are not right about their position. Only when you find your proper position in the ever-changing times will you not be in a state of chaos, otherwise the blind will ride a blind horse in the deep pool at midnight. Some senior executives told the media that the management had been wiped out. "It seems that the ship is going to sink, and everyone is running quickly. The company is now in a panic."

produced by YOUNG Caijing

written by Wang Weiwei Sun Yingzhou Zhang Dazhi

edited by Wang Wei's picture, Xiabu Xiabu's internal magazine and its financial report

Tried to get rid of the image of cheap fast food. This year, personnel turmoil is frequent. On April 16, Zhang Zhenwei, CEO of its high-end brand, stepped down; On May 21st, the company announced that "the performance of some sub-brands of the group failed to meet the expectations of the board of directors", and Zhao Yi, the chief executive of the company, was dismissed and replaced by He Guangqi, the chairman of the board. On the evening of June 14th, it was announced that "Zhao Nvshi (Zhao Yi)' s management style and philosophy are significantly different from other members of the board of directors", and the board of directors decided to convene an extraordinary general meeting to remove Ms. Zhao Yi from her post as executive director.

Xiabu Xiabu issued a notice to cancel the contract with the senior management, which was so unkind. It was obvious that the two sides were in deep contradiction by using such words as "the performance of some sub-brands of the Group failed to meet the expectations of the board of directors" and "the management methods and concepts were significantly different from those of other members of the board of directors".

Zhao Yi's ability and style

In an interview with Sina Finance, Xiabu Xiabu executives said that Zhao Yi, the president, had been forced to take a vacation in late April, and her resignation was sudden. Zhao Yi joined Xiabu Xiabu in 212 as the chief financial officer, mainly responsible for auditing, accounting, financial management and information technology-related affairs. By the time she was dismissed, Zhao Yi had been working for 9 years. In 214, as the chief financial officer, Zhao Yi went through the process of listing Hong Kong stocks, which played a key role. Figure/"Xia Bu Ren" internal magazine

The departure of Zhao Yi's CEO Zhang Zhenwei triggered the capital market's concern about the prospect of gathering together, and even Xia Bu's share price continued to fall. Even Goldman Sachs suggested in a report that Zhang Zhenwei had strong execution in the past, and investors need to pay attention to the risks related to CEO's departure. On the contrary, Zhao Yi, CEO and executive director, resigned so fiercely that there was no such reminder in the market.

According to Caijing, some people in Xiabu Xiabu Group also questioned Zhao Yi's ability. A retired president-level executive was not optimistic about Zhao Yi when she was promoted to CEO in 219. "We feel that the future of Xia Feeding is hanging."

After Zhao Yi was dismissed for the second time, He Guang, the chairman and chief executive officer of Xiabu Xiabu Group, inspired a "letter to all partners", in which he said that it was "appropriately moving inappropriate people".

While nursing the management, many senior executives thought that Zhao Yi had brought serious internal friction, so they could not accept her management style and did not want to leave her job. Including Yang Shuling, the former executive director who retired before. Yang and He are veteran figures who fought the world together. In August 219, after Yang resigned as executive director of the company and chief executive officer of the group, Zhao took over his position. A president said that Yang Shuling wouldn't have chosen to retire so early if he wasn't very disappointed.

For example, a senior executive said that in the normal progress of his work, Zhao Yi made a speech in front of He Guangqi, which led He to question his work. "I have to explain to He Dong, provide more evidence to express my thoughts, and spend a lot of time talking to him round by round." He believes that "Zhao Yi creates something unwarranted behind people's backs, such as a child's' competition for favor' out of insecurity, making a small report in front of He Dong and creating obstacles for other people's work."

however, according to YOUNG's financial verification, if the screenshot is enlarged, the market value of Xiabu Holdings has actually been declining since February 19, 221, which is inconsistent with the market value performance of Xiabu Holdings provided by Zhao Yi.

however, taking 219 as an example, in almost the best year of the hot pot industry, the year-on-year growth rate of Xiabu's annual revenue dropped from 29.2% to 27.4%, the net profit returned to the mother decreased by 37.7%, the same-store sales growth rate dropped from 2.1% to -1.4%, and the turnover rate dropped from 2.8 to 2.6.

The brand building performance of Xiabu Xiabu is not satisfactory.

since the first high-end hot pot product line was launched in 216, the road of brand diversification of Xiabu Xiabu has gone in a mess. Some experts in brand planning say that the multi-brand strategy of Xiabu Xiabu is chaotic, and the differences between sub-brands are very small. Some of them are not even distinguished by their names. For example, Xiabu Food, Xiazhu Xiashuan, in xibabuxiabu.

Gather together, In Xiabuxiabu and Xiabu Xiabu all use consistent tea, rice and tea with the same price and products; At the end of vegetables, meat and other products, the three also show some similarities, most obviously reflected in the vegetable platter. The dishes, decoration, customers and market mentality of many brands are almost mixed together, which will inevitably be unfavorable to the development of the group in the long run.

however, in xiabuxaibu, which is led by Zhao Yi, is not such a parity positioning, and the Light-pot and upgrade 2. are completely inconsistent with the Uniqlo model. And in the company's 22 annual report, in xiabuxiabu is not mentioned at all.

although there is a difference between the brand name and the brand name, since 217, due to various reasons, the relationship between the two brands is "tangled", and the two brands are becoming more and more homogeneous. It seems that the brand name has copied the brand name, which makes the team feel aggrieved. In addition, some people in the industry broke the news that "it is not harmonious to feed and feed the inside, and the public relations soft articles that feed and feed themselves are basically not allowed to bring together, saying that they cannot use the resources that feed and feed to make up for free publicity".

a management member who worked in the team before leaving her job thought that Xiabu Xiabu saw that the revenue was optimistic and imitated. She thought that this development led to the "lost soul" of the team, and Xiabu Xiabu also went in the wrong direction: "Xiabu Xiabu is a fast food with high cost performance, which is different from such a big restaurant. Big catering should have its own soul, pay attention to the whole process experience of customers, and pay attention to tea culture and equal hospitality. There is a natural difference between the modes of sipping and sipping. If you do this service, it will definitely be deformed. "

from CFO to CEO, Zhao yi not only controls various financial indicators, but also controls the company's operations. Finance and operation are opposites, and enterprise management must find a balance point, so as to make money by spending, but only by sipping, but not by spending. It is reported that when the epidemic broke out in 22, before June, except Wanda Group, all payments made by Party A, including rent, water and electricity, including large reimbursement of employees, were never signed by Zhao Yi, and employees did not receive reimbursement for 1 months. As a result, the relationship between Xiabu Xiabu and Party A and employees has deteriorated extremely. Party A's support for Xiabu is also relatively reduced. Xiabu's relationship with many shopping malls is not very good now. In addition, Xiabu's brand influence has been weakening, and internal scandals have been exposed by the media. Some shopping malls even directly introduce a series of similar competitive brands to make silent protests.

According to statistics, shopping centers are losing interest in traditional restaurants.

Take seven commercial projects opened in Zhengzhou in 22 as an example. Greenland Sky City, Langyue Xinyuehui, Tianze City, Greenland Metropolis 36 Square and Huimeimao all have no restaurants. Only wanda plaza in High-tech Zone and Wanjia Central City in Dengfeng have introduced two stores. Even in xiabuxiabu, the flagship store in Beijing, is just opened in an inconspicuous corner on the second floor of Heshenghui.

in an interview with employees and management, the interviewee thought that the new products and transformation of the management of the group were all made in the office without market research and analysis, and the management used was still more than ten years ago, which was very backward.

"About most new products in recent years, including tea, just a few people sitting in the office patting their heads, thinking that customers might like these things. Xiabu has always taken it for granted what customers like, and has never really done market research. So far, no one understands what the so-called market research is. Since 219, Xiabu has been pushing tea, and the action is still very high-profile. The company is very glamorous to the outside world, but the tea actually fails from the inside. The failure is divided into several reasons. First, the product line is completely out of market demand. Everything that Xiabu launched from the beginning to today is almost self-satisfied. Several people are sitting in the office patting their heads. They have never really done market research at all, and no one really understands the methods and core of market research. Moreover, the following people don't communicate and do nothing. The operation manager of Xiabu can be said to have no idea and no action, and he can't understand the strategic deployment of the enterprise at all. All the senior executives of Xiabu are looking at the figures, but they don't understand the meaning inside and behind them at all. If the tea is not sold well, the restaurant will be scolded. Above, the restaurant is asked to take all non-tea drinks such as cola off the assembly line, forcing customers to order tea. It doesn't matter if the quantity doesn't come up. The tea with the original price of more than 2 yuan is sold in 8 yuan. As a result, the sales of tea have indeed increased, but the profits, brand influence and even customer experience brought by this move are extremely poor. Why does tea fail? This action has no top-level design at all. From the beginning, the operation team was not informed of the far-reaching significance of this strategic deployment from a professional perspective. "

Even the ordering and typesetting inside Xiabu uses the most primitive Excel form. "This is what KFC left over from playing 1 years ago. All the top management stole KFC, and others set up stalls for Xiabu, so they didn't learn, and all the skins were scraped over."

The problems reflected in these interviews are: the strategic layout, operational level, actual operation, market research and other capabilities of Xiabu, including the company management team, are still at the level of 1 years ago. "The bureaucratic atmosphere is serious, the high-level officials do nothing, and they only speak good words and are only willing to listen to good words. Although such enterprises will not take the initiative to withdraw from the market, they will eventually be eliminated by the market."

It was also pointed out that Zhao Yi, who was born as CFO, took off the shelves the famous products that customers like, such as fine beef and New Zealand beef, in order to control profits, regardless of the market reaction and customers' emotions. Coupled with the changing seasoning manufacturers such as the bottom of the pot, the taste is different almost every time, resulting in customers not knowing what to eat when they come. The top management accused Zhao Yi of "rudely removing the star products that customers like when their own profit control ability is low. This kind of financial control thinking can be said to be the ultimate."

Tea, rice and tea opened in in xiabuxiabu store

Zhao Yi was accused of being "strong" in the group, which caused her to disagree with Xiabu Xiabu Group, which may be in line with Xiabu Xiabu's statement that "the management style and concept are significantly different from other members of the board of directors". According to informed sources, CuO CuO Brand and CuO CuO CuO Brand operate independently, and CuO Brand is "a little suppressed by CuO CuO CuO Brand, which is a bit of internal friction". "CuO CuO is mainly about hot pot+tea break, and tea, rice and tea are originally made together. CuO CuO should be put in her own store, but tea, rice and tea should be opened independently, and CuO CuO CuO is not allowed. Zhao Yi is a relatively strong person."

In addition, there are some rumors about Zhao Yi that are not true or false. One of the news reports said that the internal corruption of Xiabu Xiabu was serious. Zhang Jun, an employee of the marketing department, was reported to have openly demanded a huge kickback of up to 25% from suppliers. Zhao Yi's attitude towards the report was "no attention, no investigation and no investigation". As of press time, YOUNG Finance has not received Zhao Yi's reply.

Zhao yi vs. he Guangqi's honeymoon beginning and end

Xia Bu in the early days

At the same time when Zhao Yi was dismissed, the company announced that He Guangqi (pictured above), the founder and chairman of Xia Bu, would take over the post of CEO in an attempt to "stabilize the military", but the company's share price still fell more than 15% on the same day, and fell more than 8% to below HK$ 9/share the next day.

In 1998, He Guangqi introduced "one person, one pot" instant hot pot from Taiwan Province. At first, the business was not ideal. After SARS in 23, it quickly occupied the popular hot pot market because of the low sanitation and customer unit price. According to the reports at that time, He Guangqi was very determined about the positioning of Xiabu Xiabu. He said, "I want to become the largest fast food brand in China. All my plans revolve around surpassing KFC. I have 1,1 stores out of 1, in one city. Anyway, I have one more store than him."

In 219, He Guangqi's goal touched the British Union Private Equity Company, which decided to take a controlling stake of $5 million. When Zhao Yi joined the company in 212, she found that the management of Xiaying was basically McDonald's and KFC, which reflected the initial intention of Xiaying to be McDonald's in the hot pot industry.

The fate of Zhao Yi and He Guangqi began in America. At that time, Zhao Yi was the financial director of McDonald's North District. The CEO of McDonald's Greater China believed that the level of this financial officer had far exceeded the required business ability. Later, Zhao Yi went to the United States to study. At that time, her husband was in the United States. She wanted to take care of her son while doing what she liked-joining several McDonald's in the United States. During her study, Zhao Yi happened to meet He Guangqi, the chairman of Xiabu Xiabu. He Guangqi invited her to be the CFO of Xiabu Xiabu, and led Xiabu Xiabu to go public. Zhao Yi ushered in a new turning point in her life.

After entering Xiabu, Zhao Yi spent a year helping Xiabu to establish a financial system and make it a * * * enjoyment center. In the second year, in order to standardize the business of sipping and sipping, she will practice all the abilities that McDonald's can't realize. The catering industry must be large and reproducible. Zhao Yi previously managed two largest stores in McDonald's, which laid a solid foundation for her financial system, such as inventory.