According to the announcement, DAHAO technology has signed a restructuring intent agreement with Yiqing holding and Jingtai investment respectively. Among them, DAHAO technology will purchase 100% equity of Beijing Yiqing Asset Management Co., Ltd. (hereinafter referred to as Yiqing asset) held by Yiqing holding, and 45% of Beijing Hongxing shares Co., Ltd. (hereinafter referred to as Hongxing shares) held by Beijing Jingtai Investment Management Center (hereinafter referred to as Jingtai investment). At the same time, DAHAO technology plans to raise matching funds through non-public share issuance.
After the completion of the transaction, DAHAO technology will directly and indirectly hold 100% of Red Star shares. According to DAHAO technology announcement, Yiqing holding is the controlling shareholder of DAHAO technology, holding 100% equity of Yiqing assets. At the same time, Yiqing holding directly and indirectly holds 55% of the shares of red star, and Jingtai investment holds 45% of the shares of red star.
In view of DAHAO technology holding red star shares, the relevant person in charge of Red Star shares told Beijing Business Daily that the official announcement of all the above companies shall prevail. At present, red star has not received the relevant notice from the controlling party Yiqing holding company.
Xiao Zhuqing, a Chinese consumer goods marketing expert, told Beijing Business Daily that the backing behind the red star will boost the backdoor listing. According to Tianyan survey, Beijing state owned capital operation and management center holds 100% equity of Yiqing holding company. The state owned assets supervision and Administration Commission of Beijing Municipal Peoples government holds a wholly-owned share in Beijing state-owned capital operation and management center, which is suspected to be the actual controller of Red Star shares.
Can we regain the title of first brother
Mention Beijing Erguotou, in addition to Niulanshan, there are red stars. Little did you know that Hongxing started earlier, and once sat in the leading position of Erguotou market. In the era when Hongxing was the first brother of Erguotou in Beijing, the sales income of Hongxing shares was twice that of Niulanshan. In 2006, the sales revenue of Hongxing shares was 840 million yuan, and at that time, the sales revenue of Niulanshan was only 443 million yuan.
However, over time, red star shares were gradually chased by Niulan mountain until it fell. According to the sorting out of Beijing commercial newspaper, from 2009 to 2010, the sales revenue of Hongxing was 1.5 billion yuan and 1.8 billion yuan respectively; Shunxin agricultural liquor business includes Niulanshan and Ningcheng Laojiao, with the total sales revenue of 1.3 billion yuan and 1699 million yuan respectively. In two years, the gap between the two sales revenue decreased from 200million yuan to 100million yuan, and the distance between the red star and the chaser was shrinking.
In addition, it is estimated by some industry insiders that the annual sales volume of red star is more than 2 billion, while the sales revenue of Niulanshan has reached 9.278 billion yuan in 2018 and will reach 10 billion yuan in 2019. According to Guosheng Securities Research Report, in 2018, the market share of Niulanshan, Laocun head, Longjiang Jiayuan and Hongxing were 10%, 6%, 2% and 2% respectively, and the market share of Niulanshan was 8% higher than that of Hongxing.
In addition to the performance gradually by Niulanshan over, red star in the business also lost the opportunity. Since its establishment in 1949, Hongxing has lost its first share in the industry. In 1965, the owner of Hongxing, Beijing brewery, taught the brewing technology of Erguotou to distilleries in rural counties, such as Niulanshan, Shunxin agriculture. More than ten different brands of Erguotou liquor emerged one after another, squeezing the market of Hongxing Erguotou to a certain extent.
In 1981, Hongxing directly chose to give up the full name trademark registration of Erguotou and only use the registered trademark of Hongxing to share the trademark of Erguotou with all other liquor manufacturers. The sharing of Erguotou trademark, on the one hand, Niulanshan and other Erguotou have grown rapidly, taking advantage of the reputation of the first brother of Hongxing Erguotou to usher in a rapid development opportunity; on the other hand, Hongxing Erguotou began to fade, and even the industry used the word gradually degenerate to shape its trend.
Now, red star backdoor listing, may be able to restore the situation once lost. Xiao Zhuqing said that any category has a duopoly pattern. In Erguotou category, there are Niulanshan and Hongxing shares. With the listing of Hongxing shares, the future enterprises will further expand the market influence, and expand the market share of Hongxing Erguotou by increasing capital investment. After listing, Beijing liquor industry will also form a strong Erguotou section.
Capital boosts or re wins the market
At the same time, Beijing Capital Liquor Co., Ltd. proposed to strive to achieve the goal of listing in the middle of the 12th Five Year Plan. If appropriate shell resources can be found as soon as possible, capital Liquor Group will be listed on the back door in 2012; if it cannot, it will land on the A-share market within three years.
Three years later, however, the promise did not materialize. In 2014, the liquor sector was in a period of deep adjustment, leading to the failure to achieve the listing target of Beijing Capital Liquor Co., Ltd.
Now nine years have passed, liquor plate continues to heat up, and has become one of the key choices in the capital market, and red stars listing heart is ready to move again.
In fact, red star is also in full force for the listing. It is reported that at the production level, Hongxing has started the automatic production line in Huairou plant area and the new plant area of Hongxing liuquxiang branch in Qixian County, Shanxi Province. In terms of products, in addition to launching the high-end brand Hongxing Gaozhao, it also released the representative product Hongxing Gaozhao u00b7 master 1949. In terms of brand, Hongxing plays a category card strategy and highlights its uniqueness with founder of Beijing Erguotou.
In the view of the industry, the current annual sales volume of red star is more than 2 billion, which still does not match the brand value of red star. After listing, in addition to the external and internal promotion of red star, it can explore a new mode of equity level with dealers, and realize the breakthrough of market layout in a short time.
Source: Beijing business daily, author: Zhao review, Wei Ru, editor in charge: Wang Xiaowu_ NF