Hong Jiuguo heard the hearing through the Hong Kong Stock Exchange, and played directly with Bai Guo Garden. Selling fruits really made money so much?

On the Chinese capital market, in the recent period, it seems that some fruits of the competition. While the listing of Baiguoyuan has caused heated market discussions, another famous fruit company Hong Jiuguo has also passed the Hong Kong Stock Exchange hearing, and Bai Guo Garden. Many people will be surprised in the Hong Kong stocks. Why do fruit companies have collectively launched Hong Kong stocks recently? Is it really so profitable to sell fruits?

1. Hongjiu Guopin and Bai Guo Garden's Hong Kong stock war

According to Zhitong Finance News, Zhitong Finance APP was informed that according to the Hong Kong Stock Exchange, Chongqing Hongjiu Fruit Pin Co., Ltd. crossed the main board of the Hong Kong Stock Exchange to listed on the listing hearing, and CICC is an exclusive sponsor.

Hong Jiu Guo product is a high -speed multi -brand fresh fruit group in China. It focuses on the entire industry chain operation of high -quality fruits native to China, Thailand and Vietnam. The company has operated the fruit industry for nearly 20 years and has deep industry experience, forming a combination of fruit products with durian, mangosteen, longan, dragon fruit, cherry, and grapes as its core. According to Burning Consultation Information, according to the sales revenue of 2021, Hong Jiuguo is the largest durian distributor in China, as well as the top five distributors of dragon fruit, mangosteen and longan. If the listing is successful, Hong Jiuguo will become China's "fruit first share".

The prospectus of Hong Jiuguo Pin introduced that the company's predecessor Chongqing Hongjiu Fruit Co., Ltd. was established in 2002. It focuses on the entire industrial chain operation of high -quality fruits native to China, Thailand and Vietnam. The brand name comes from the founder and chairman Deng Hongjiu. According to the official website, in 1987, Deng Hongjiu picked up his entrepreneurship at Chaotianmen Wharf in Chongqing. Since then, he started his name and fought out the name of the "King of Fruit" in the southwest.

According to the prospectus of Hong Jiuguo, from 2019 to 2021, its operating income was 2.078 billion yuan, 5.771 billion yuan, and 10.28 billion yuan, respectively, with a compound annual growth rate of 122.44%. From 2019 to 2021, the gross profit margin of Hong Jiu fruit was 18.9%, 16.6%, and 15.7%, respectively, and continued to decline; the net interest rates were 7.85%, 0.05%, and 2.84%, respectively, and they were not divided into Bo Guo Garden.

The fruit retail market has the saying that "South Bai Guo, Beixianfeng, Xi Hongjiu". According to the Alpha Factory, Baiguoyuan is a fruit -based industrial chain company that integrates fruit procurement, planting support, post -mining, logistics and storage, standard grading, marketing expansion, brand operation, and store retail.

As of the end of 2021, Baiguoyuan's national stores reached 5,351, covering 22 provinces and cities in more than 130 cities. It seems that the situation of store opening data is good, but the net profit margin is not high.

According to the Bailuo Garden Prospectus, from 1999 to 2021, Baiguoyuan's operating income was 8.976 billion yuan, 8.854 billion yuan, and 10.289 billion yuan, respectively. Yuan, 046 million yuan and 226 million yuan, net profit margins were 2.76%, 0.52%, and 2.20%, respectively.

It can be said that the current capital market can be described as the fruit industry. It is a thousand autumn between Hong Jiuguo and Baiguoyuan, which makes people want to ask if it is so popular to sell fruits?

2. Can selling fruits really satisfy the capital market?

To be honest, the current major fruit giants have begun to gather in the capital market. It seems that it has basically gathered except for Xianfeng fruits, but selling fruits is really such a good business? In fact, in our article "Bai Guo Garden accelerated the sprint ipo, can we grab the first Bai Guo Garden for the fruit? 》 We have repeatedly said that the fruit market in Bai Guo Garden is repeatedly. Now that Hong Jiugu products are the first step, many people are really making money to sell fruits?

First of all, fruits are indeed a very promising market. In recent years, with the growth of China's economy, the Chinese fruit consumption has begun to improve rapidly, and with the increasingly improved Chinese logistics system, China's fruit market has begun to appear in a large -scale flow of the country. The characteristics are very obvious. The northern region is basically the world of Apple and Pear, and the southern region is often litchi and bananas. However, under the promotion of the national logistics system, China's fruit industry has begun to develop greatly. Fresh and delicious lychee that can also be eaten in Beijing can also eat Red Fuji from Shaanxi in Guangzhou.

The market size of the Chinese fruit retail market has increased from RMB 827.3 billion in 2016 to RMB 1229 billion in 2021, and the annual growth rate of a compound annual growth within 5 years was about 8.2%. According to the Ferris Sander, according to the retail sales, the market size of the Chinese fruit retail market in 2026 is expected to further increase to RMB 1775.2 billion, and the expected compound annual growth rate from 2021 to 2026 is 7.6%.

Especially in recent years, with the development of urbanization in China, the Chinese fruit consumption has begun to develop towards more high -quality development. Similar to Hongjiu Fruit, Bai Guo Garden, and Xianfeng Fruit, they have begun to start under such a background. It has gradually developed and has become the most concerned category in the capital market. This is also the inevitable result of the continuous growth of Chinese fruit consumption in recent years.

Secondly, is fruit really a good business? We carefully analyze the development logic of Bai Guo Garden and Hong Jiugo products. Although the quasi -listed companies of these two fruits are all fruit business companies, the logic of the two has considerable differences in the logic. Essence

Hong Jiu fruit is more like a wholesaler like Alibaba in the fruit industry. By constructing a comprehensive fruit procurement wholesale system, it provides services to a large number of terminal wholesalers, retailers, and supermarket customers. Market logic, as of December 31, 2021, Hong Jiu fruit customers have included 8 among the top ten supermarkets in the national sales revenue in 2021. By providing services to the supermarket, Hong Jiuguo has built its own market development advantage. The development of commercial superflies has allowed Hong Jiuguo to build a huge market advantage in the upper reaches of the market. Relatively different market advantages.

The Bailuo Garden adopts a more direct sales model of Taobao and Tmall. Most of the income of Baiguoyuan is the addition of franchise fees and the money selling fruits. Therefore, the logic of Baiguoyuan is a more typical 2C market model. The franchise store of Baiguoyuan, in 2021, revenue was 8.125 billion yuan, accounting for 81.3%of the total revenue. Based on the calculation of 5336 franchise stores, the average annual revenue of each franchise store is 1.527 million yuan, and the daily income is about 4230 yuan. Through the expansion of this franchise store, the market advantages of Bai Guo Garden have gradually formed, and the market space continues to expand. This is the logic of Belong Garden.

In fact, whether it is the 2B model or the 2C model, in fact, both have built their own market advantages, which is also the core reason for their money to make money.

Third, is there really no risk of selling fruits to the market? Although Hong Jiuguo and Baiguoyuan are well -known fruit business companies, but the pressure is actually relatively large. We may wish to analyze it carefully, where are the risks?

For Hong Jiuguo, its biggest risk comes from the unstable supply chain. Because most of its customers are merchants, the revenue is relatively stable, but due to the epidemic, some of the high of Hong Jiuguo products are high. Profit channels have been more or less impacted by the market. For example, the durian channels of Hong Jiuguo's durian channels that everyone familiar with Hong Jiuguo have experienced relatively large market risks.

For Baiguoyuan, its biggest risk comes from higher prices and too fast store opening speeds. The overall market price of Baiguoyuan is relatively high. Consumers will always compare it. It is easy to be eliminated by the market. On the other hand, the development of Bai Guo Garden depends on the expansion speed of franchise stores. The problem is that although the expansion of franchise stores can allow Bai Guo Garden to obtain income from low cost, but the management of franchise stores is a big problem. The difficulty of quality control is quite difficult. If Bai Guo Garden fails to manage the franchise stores, the problem of franchise similar to the franchise stores such as Xiaoye sheep before will gradually become highlighted.

For the current capital market, whether it is Hong Jiuguo or Bai Guo Garden is actually a new consumer company that can be accepted in the market, although it is not a big problem to list, how can it be satisfied in the market for a long time. This is the most need to solve these companies. What happened.

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