Three years of continuous decline in revenue, Tiandi No. 1 is trapped in vinegar drinks

The beverage market has been very hot in the past two years , Milk tea 、 coffee 、 Energy drink related enterprises have been listed one after another , And more recently , The world No. 1 of fruit vinegar will also begin to impact IPO 了 .

According to relevant information , Heaven and earth one is 6 month 14 Submitted the application materials for initial public offering and listing to the CSRC , And in 6 month 15 The acceptance completion letter issued by Guangdong securities regulatory bureau was received on the th .

6 month 16 Japan , Tiandi No. 1 issued a stock suspension announcement , It also means that 25 At the age of, it is one step closer to listing .

01

Tiandi No. 1, the birthplace of tuyere

If you live in Guangdong , Even if not particularly familiar with , I have probably heard of Tiandi No. 1 . Every Chinese New Year and festival , The green canned Tiandi No. 1 will surely appear on the dining table of Cantonese people , It has a high position in the hearts of Cantonese people .

And the story of Tiandi No. 1 , It's from 1997 Year begins .

A noble son from a poor family , Chen Sheng, the founder of Tiandi No. 1, was born in a poor mountain village in Zhanjiang City, Guangdong Province , Studying hard 12 Years later, I successfully got the admission notice from Peking University , After graduation, I got the chance to work in the general office of Guangzhou municipal Party committee . In the eyes of others , Keep this “ Iron rice bowl ”, There is no need to worry in this life .

however , Chen Sheng has his own ideas , After a short stay in the general office of Guangzhou municipal Party committee, I left this “ Iron rice bowl ”, Start a business in the sea .

Have to say , It is worthy of being a top student of Peking University , Have a unique vision . After going to the sea , Chen Sheng went straight to the real estate industry , Incoming 3 In more than years , Has become the leading real estate tycoon .

After making some achievements and funds through real estate , Chen Sheng began to explore other tracks , I have sold vegetables and wine , But in the end, they didn't go on for a long time because they didn't catch up with the right time .

But here we are. 1997 year , Chen Sheng soon ushered in new development opportunities . At that time, the domestic beverage market was in a period of rapid development , Coca Cola and Pepsi also entered China one after another , In this context , Two of Chen Sheng's friends unanimously recommended him to join the beverage circuit , And bring him a vinegar drink , In fact, to put it bluntly, sprite is mixed with aged vinegar , But this was especially popular in southern Guangdong at that time .

At that time, the domestic beverage market was developing rapidly , Second, this vinegar drink has accumulated a certain consumption base in southern Guangdong , In many ways , Chen Sheng saw the business opportunity , I think it is feasible to make vinegar drinks , So we began to mass produce canned vinegar drinks , And named it “ Tiandi one ”.

Tiandi No. 1 is mainly engaged in apple vinegar beverage , Although vinegar drinks have already had a certain consumer base , But Apple flavored vinegar drink is a new product . Plus, in the eyes of most Chinese people , Still retain the stereotype that vinegar is a condiment , At the beginning of its birth, tiandi-1 did not receive much attention .

Then , In order to enter the market , Chen Sheng played “ Healthy fifth course , Tiandi one ” The advertising language of , Position tiandi-1 as the following fish 、 meat 、 Green vegetables 、 The fifth course after four courses of rice , It soon attracted a large number of “ believe in ” Attention of health preserving Cantonese . Less than a year , Tiandi No. 1 was sold out of stock in a frenzied rush .

here we are 2015 When it was listed on the new third board in , Revenue of Tiandi No. 1 15.74 One hundred million yuan , Year-on-year growth 40%; Non net profit attributable to deduction 4.09 One hundred million yuan , Year-on-year growth 70%, The results are quite impressive .

02

Tiandi one is trapped in Guangdong

Judging from the past achievements , Over the years, Tiandi one has performed well , However, such a good result recently seems to have reached the limit of Tiandi No. 1 .

Although the results of Tiandi No. 1 are optimistic , But its popularity is limited to Guangdong Province . In the continuous years of rapid development ,2016 Tiandi No. 1 has become saturated in the vinegar beverage market in Guangdong Province , The market share is as high as 90%, It also means that , Tiandi-1 wants to continue to make breakthroughs , We must rush out of Guangdong , Towards the whole country .

However , After the vigorous North expansion , Tiandi-1 is still trapped in Guangdong , Data shows , Tiandi-1's business outside the province is still in a state of loss .

As for why Tiandi No. 1 is difficult to enter the national market , On the one hand, Tiandi No. 1 has strong local characteristics , In the outward expansion of the market will often acclimatized , On the other hand, it also has a certain relationship with its single category .

Since the establishment of the company , The single product of Tiandi No. 1 has been criticized all the time , Although it tries to launch a variety of brands , Such as “ Charge one ”、“ Baicao No. 1 ” and “ Bama one ”, To benchmark the energy beverage market 、 Fruit juice beverage market and purified water market .

However, as the beverage market matures , Each field has its own leading enterprises , It is not easy for the brands of Tiandi No. 1 to get a piece of it , Therefore, the category expansion of Tiandi No. 1 is not smooth ,2018 year “ Charge one ” And “ Baicao No. 1 ” Production was stopped in succession , Now “ Bama one ” It only accounts for% of the total revenue 4.4%.

And in the 2019 In, Chen Sheng intended to buy the debt ridden 、 The plan of Huiyuan juice at stake , In the end, the two companies failed because of their differences on the use of trademarks .

So until now , After various attempts , Heaven and earth No. 1 still has only apple vinegar drinks to hold .

It is precisely because of the single variety and strong regional characteristics , As a result, Tiandi No. 1 is difficult to expand its market .

Another thing worth mentioning , In recent years, the revenue of Tiandi No. 1 has declined year by year . It showed a profit ,2019、2020、2021 The annual revenue of Tiandi No. 1 is 25.85 One hundred million yuan 、18.99 One hundred million yuan 、18.17 One hundred million yuan ; The net profits attributable to the shareholders of the listed company are 3.82 One hundred million yuan 、2.51 One hundred million yuan 、2.55 One hundred million yuan .

Facing the declining performance year by year , Tiandi-1 attributed the cause to the impact of the epidemic , But with the increasing saturation of Guangdong vinegar beverage market , Even if the epidemic gradually improves , Will the revenue of tiandi-1 get better ？

03

How to enter the national market ？

Tiandi-1 is facing great competitive pressure .

In recent years , The domestic beverage market is developing rapidly , New tea 、 Coffee and other subdivided drinks are especially popular with young people , The market is expanding , More and more enterprises have entered the market .

According to the data released by iResearch ,2020 year , The market scale of China's new tea industry is 772.9 RMB 100 million , And showing a rapid growth trend ;2021 In, the scale of China's coffee market was about 3817 One hundred million yuan , It is expected to remain 27.2％ The growth rate of , Far higher than the world 2％ The average growth rate .

meanwhile , As consumers' cognition and acceptance of vinegar drinks are low , At present, the volume of vinegar beverage market in China is small , Growth is also relatively slow , In the beverage market dominated by new tea and coffee , Vinegar drinks seem out of place .

And that's why , Although Tiandi No. 1 has done marketing for itself for many times , It also advertises that drinking vinegar is good for your health , Another shot “520 Jealous day ” To raise their own visibility , However, the products have never been able to step on the hearts of young people .

A successful brand should be one that meets the needs of consumers , Tiandi No. 1 wants to go to the national market , We need to get rid of “ Vinegar beverage ” The bondage of , Let go and continue to transform according to the market .

At present, the revenue of Tiandi No. 1 has declined , Still following the old path of vinegar drinks will only make Tiandi No. 1 stand still .

It's time for Tiandi one to start “ Vinegar beverage ” Out of the position of .