Boxed horse fresh fever: Kunshan shop closed Hainan shop opened in March lost nearly 10 million

category:Finance
 Boxed horse fresh fever: Kunshan shop closed Hainan shop opened in March lost nearly 10 million


Wang Yuan, an analyst in retail industry, believes that Boxhorse Fresh Life has been running all the way to cultivate the market through scale expansion. Now it should enter the adjustment stage, turning from scale expansion to single-store profit.

Opening 150 stores in 3 years

Three years ago, as an innovative project in Alibabas new retail business, Boxhorse Fresh Life changed the structure of offline supermarkets as soon as it was born. Supermarket + Food & Beverage + Market instantly became the label of new retail sales of major supermarkets. On May 1, BoxMa Xiansheng just announced the opening of 150 stores in Lishuiqiao, Beijing.

However, on May 31, the Boxed Horse Fresh Shop in Wuyue Plaza, Kunshan New Town officially closed. It is reported that this store is the only supermarket in this shopping mall. Its operation time is not more than 8 months. At present, the withdrawal of the store has been completed. This is also the first closed shop in the three years since its opening.

Up to the time of submission, the official website of Box Horse did not remove the relevant information of this store located in Wuyue Square, Kunshan New City.

Wang Yuan, an analyst in retail industry, believes that burning money is one aspect, and more importantly, whether the service and quality can be maintained.

In fact, since the fresh operation of box horses, food safety risks have been exposed many times. In November 2018, the problem of selling out-of-date food was exposed. The Supervisory Authority immediately filed a case against the fresh box horse. 73 boxes of carrots in the fresh box horse stock were sealed off the shelves. After that, 11 batches of fresh crucian carp sold in Guangzhou box horse were found to be unqualified when they were sampled.

Hainan box horse fresh March net loss 9.72 million

Backed by Alibaba, Boxed Horse Fresh Birth is quite eye-catching. After the opening of the first store in January 2016, Alibaba Group received a strategic investment of $150 million, which is regarded as an important part of Alibabas new retail strategy.

However, the fresh box horse just looks beautiful. On May 31, 2019, Gao Xin Retail (6808.HK) issued a notice of equity transfer. Darun Fat China sold all the shares of Hainan Box Horse Network Technology Co., Ltd. (hereinafter referred to as Hainan Box Horse) to Shanghai Run Box Network Technology Co., Ltd. (hereinafter referred to as Hainan Box Horse) for $5 million. At the same time, it was disclosed that from May 28, 2018 to December 31, 2018 (the store opened in September, 2018), Hainan Box Horse had a net loss of 9.72 million yuan.

According to Tian Eye Check, Hainan Box Horse was established by Kangcheng Investment on May 28, 2018. It is mainly engaged in the operation of Hainan Box Horse shops. The legal person of the company is Huang Mingduan, Chairman and Director of Darun Fat China Operations Affiliated Company. The acquirer is Shanghai Runbo, which is co-funded by Kangcheng Investment and Alibaba (China) Network Technology Co., Ltd. (hereinafter referred to as Ali). Among them, 51% of Kangchengs investment shares, 49% of Alis shares, and Hou Yi is the legal person of the company.

Boxhorse official website shows that there is only one Haikou International Trade Shop in Hainan, which opened in September 2018. According to Gaoxin Retails equity transfer announcement, the net assets and total assets of Hainan Box Horse are about 24.11 million yuan and 64.17 million yuan respectively by December 31, 2018. From May 28, 2018 to December 31, 2018, Hainan Box Horse had a net loss of 9.72 million yuan. Gao Xin retail did not explain the reasons for the loss. According to the data, in November 2017, Alis 22.4 billion Hong Kong dollars stake in Gaoxin Retail became the second largest shareholder of Gaoxin Retail with a 36.16% share ratio. Boxhorse carried out a new retail reform of Darun Fats Chinese stores. According to the financial data of 2018, the new retail projects of Darun Fat China have not achieved great results. In 2018, Gaoxins total retail revenue was 101.3 billion yuan, down 1% from the same period last year, while its total profit was 4.1 billion yuan, down 6.5% from the same period last year. Source: Author of Finance and Economics: Wu Ting, Editor-in-Charge: Wang Xiaowu_NF

Boxhorse official website shows that there is only one Haikou International Trade Shop in Hainan, which opened in September 2018. According to Gaoxin Retails equity transfer announcement, the net assets and total assets of Hainan Box Horse are about 24.11 million yuan and 64.17 million yuan respectively by December 31, 2018. From May 28, 2018 to December 31, 2018, Hainan Box Horse had a net loss of 9.72 million yuan. Gao Xin retail did not explain the reasons for the loss.

According to the data, in November 2017, Alis 22.4 billion Hong Kong dollars stake in Gaoxin Retail became the second largest shareholder of Gaoxin Retail with a 36.16% share ratio. Boxhorse carried out a new retail reform of Darun Fats Chinese stores.

According to the financial data of 2018, the new retail projects of Darun Fat China have not achieved great results. In 2018, Gaoxins total retail revenue was 101.3 billion yuan, down 1% from the same period last year, while its total profit was 4.1 billion yuan, down 6.5% from the same period last year.