However, since165438+1October 9, the market value of Quanjude has evaporated by more than 10 billion yuan, which has aroused investors' concern and worry. People can't help asking: What happened to Quanjude, a once highly sought-after Chinese time-honored brand and catering star stock?
As one of the most famous time-honored restaurants in China, it must be mentioned that Quanjude's appeal to consumers is declining. In addition, the number of roast duck brands is gradually increasing. How can Quanjude win the competition only by relying on the signboard of "China Time-honored Brand"?
It is worth noting that Quanjude has been "early adopters" in recent years, but the overall results are minimal. What is the main reason for the poor effect of Quanjude's repeated "early adopters"? What are the difficulties of "early adopters"?
In traditional enterprise theory, enterprises usually have a life cycle of "birth-growth-maturity-decline". How will Quanjude break through the "life cycle fate" that slows down or even declines with the growth of "age" in the future?
In this regard, the reporter came to Quanjude Headquarters on the afternoon of February 20th, 65438. Tang Ying, the company's director-general, accepted an exclusive interview with the reporter of Investor News and answered all questions frankly and in detail.
The market value evaporated by 654.38+0 billion.
165438+1On October 7, Quanjude's share price reached the highest price in the second half of the year, 2 1. 17 yuan, and began to fall two days later. 65438+February 6th has fallen to the lowest price in the second half of the year 17.45 yuan (as of February 20th, 65438+February 20th), and the current market value of Quanjude is about 5.454 billion yuan. Compared with more than a month ago, its market value evaporated by 654.38 billion yuan.
What happened to Quanjude? This is also the question of many investors in Quanjude. In this regard, Tang Ying told reporters that Quanjude's operation is normal and there are no other risks.
Behind the evaporation of market value, the most striking thing is the performance of Quanjude in recent years. According to the latest quarterly data, Quanjude's operating income in the first three quarters of this year was 65.438+38 billion yuan, down 654.38+0% year-on-year. Looking at the past financial reports, it is found that this is the seventh consecutive quarter of revenue decline.
In addition, Quanjude's net profit in the first three quarters was 65.438+0.5 billion yuan, a year-on-year increase of 3%. What is the main reason for the company to "increase profits without increasing income"? Looking at the previous financial reports, we can find that the company's net profit has basically stagnated in recent years. What is the reason for this?
When talking about the performance of Quanjude, Tang Ying pointed out that since the peak of 20 12, the company's operation has been affected by policies and markets in recent years, and its operation has remained stable. "The performance since last year has been greatly affected by the reform of the camp. The reform of the camp is good news for us, and it really reduces our tax payment. However, in terms of accounting, the reform of the camp will directly exclude taxes from operating income, which has a certain impact on operating income. Therefore, in the past two years, there has also been a situation of' increasing profits without increasing income'. "
Repeated "early adopters" have little effect.
"In fact, we have been constantly adjusting and trying, and the innovative measures that everyone has seen are only a small part."
It is worthy of recognition that Quanjude has indeed made a lot of efforts in recent years, especially in catering to the trend of the times and the style changes of the whole market. However, in the process of transformation, some setbacks are inevitable.
It is particularly interesting that Quanjude, like many traditional consumer enterprises, put forward the development strategy of "internet plus". In April last year, Quanjude tested the take-away business and launched the take-away platform "Little Duck Brother", which was operated by its holding company, Duck Brother Technology, to locate young consumers on customer orientation. However, in this year's semi-annual report, Quanjude disclosed that Goya Technology closed down in April this year, with an operating income of only 360,000 yuan and a net loss of 2.43 million yuan.
Another "early adopter" move is that Quanjude announced the acquisition of the catering brand "Tang Cheng Kitchen" in March this year. On August 29th, Quanjude announced the termination of the acquisition, saying that the transaction could not be completed on time due to the complexity and uncertainty of the transaction.
"In fact, we are still doing take-away business, mainly cooperating with several take-away platforms, but it is no longer a separate take-away platform. In the process of transformation, Quanjude needs constant adjustment and hopes that the outside world will give us more time. " Tang Ying said.
Recently, Quanjude Hepingmen Store and Hua Bin International Hotel (HK$ 00045) reached a "single product export" cooperation, and Quanjude Hepingmen Store provided ingredients, equipment, personnel and distribution. Provide roast duck products for Fu Lin Pavilion Restaurant, while Fu Lin Pavilion provides the production site and is responsible for selling Quanjude Roast Duck.
In this regard, Tang Ying pointed out that Quanjude's "single product export" business had started several years ago. "At present, in addition to Beijing Huabin International Hotel, Quanjude's' single product export' is also launched in hotels in Luoyang and other places."
What can be used to enhance competitiveness?
It must be mentioned that although Quanjude is one of the well-known restaurants in China, its appeal to consumers has been declining in recent years.
At present, most of the customers who go to Quanjude come to Beijing from other places, and most of them belong to one-time consumption. At the same time, competitors in the Beijing market are constantly emerging, such as "Da Dong" who is good at positioning higher-end and innovative, and new restaurants such as "Four Seasons Fumin Roast Duck" that have appeared in recent years, giving consumers more choices when tasting Beijing Roast Duck. Then, how can Quanjude win the competition only by relying on the signboard of "China Time-honored Brand"?
Tang Ying pointed out that Quanjude will adjust from three aspects: First, improve the quality, mainly for dishes, services and the environment. At present, Quanjude also classifies stores into commercial, community, tourism and leisure stores, and launches different dishes according to different stores to improve the overall service; The second is incubation, which allows its stores to incubate new brands by themselves, as long as the hatched products meet the requirements of Quanjude; The third is two-way replication, where existing stores are replicated after upgrading according to new market demand.
"Quanjude Group has a special development department, which is mainly responsible for the development of direct stores and franchise stores. In the past, the development department mainly focused on site selection, but now we also develop functions for stores and regional companies, so that they can copy stores and develop their own stores according to their own surrounding conditions. Including the newly opened Shanghai company Kongjiang Road Store, Zhenjiang Store and the upcoming Suzhou Store. On the Beijing side, a new store will be opened in wanda plaza, Xitieying. " Tang Ying said that the strength of this functional transformation is still relatively large for Quanjude.
At the end of the interview, Tang Ying told reporters: "We have been thinking about how to innovate and develop time-honored brands. At the same time, our team is constantly exploring and discussing. "
As for how to innovate and develop? The reporter made a simple market survey, and the feedback from consumers was: first, we should pay attention to the characteristics of regional people, and become more diversified and diversified from simplification; Secondly, paying attention to health and being less greasy has become a fashion; Third, pay attention to consumers' psychological feelings and stylize the dining environment; The fourth is the service details and so on.
You don't have to be a century-old shop to stand, you have to know how to innovate.