Daily fresh, explosion in place

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▍ Salt Finance

Author | Hu Wancheng

Edit | Fry

At 2 pm on July 28, a sudden online meeting made many freshly fresh employees caught off guard.

A person named Yu Ming (transliteration) spoke in the group, "Previously, the 200 million yuan financing of Shanxi Donghui Group failed to pay, and the salary of most colleagues would be suspended."

Then, a suspected HR continued, "Most of our people's work will end until today."

On this day, the daily promise of "replenishing June wages" daily. On July 27th, the day before the online meeting, all employees were notified that "because the company wants air control, work at home the next day."

Chat records widely spread

Before being deceived to the home, it was announced that the work was stopped day by day. The daily fresh employees could not accept such things. In other meetings at the same time, employees constantly questioned "Is this a compulsory termination of the contract?" "Is the boss run the road with the model?" Because HR could not fight, many conferences were forced to interrupt.

Soon, some consumers found that the daily fresh gift card could not be recharged, and the deposit in the account could not be withdrawn. When buying goods on the platform, it is impossible to realize it. Only the products that are fastest are left, and there are almost no fresh fruits.

Who would have thought that the daily freshness of the "first stock of the domestic fresh", the light speed fell just after a year of listing.

Looking back at this year, every day, Youxian experienced the opening, continuous losses, supply of debt discussion, and employee arrears, and finally fled in a "fraud and sneak attack" way. CEO Xu Zheng -The bell that Jiangxi entrepreneur who was said to be "running" in Nasdaq is no longer a happy bell, but like a "funeral bell".

In 2021, Daily Fresh Land in Nasdaq

Is it bankrupt?

"I also learned about the news yesterday." A Daily President -level executive H told Nanfeng Window Salt Financial reporter.

H said that unlike the executives imagined by the public first, this incident was only come from the total on the morning of July 28. Now it seems that the 200 million yuan financing that Shanxi Donghui failed to achieve is a direct fuse of the sudden dissolution.

On July 14, Daily Youxian issued an announcement saying that it reached a strategic investment cooperation agreement with Shanxi Donghui Group, and the latter will invest 200 million yuan in equity investment.

On July 14, 2022, every day Youxian announced the establishment of a strategic cooperative relationship with the Donghui Group of Shanxi, and received its 200 million yuan equity investment

These 20 million yuan were regarded as the daily "life -saving money" by the outside world. Prior to this, bad news has been reported one after another every day. A large layoffs in March and April, only four cities were left to carry out business. They could not issue financial reports, and the stock price was lower than $ 1 for a long time ... The degree of freshness in the daily absence of money has been visible to the naked eye.

But there was a problem with life -saving money. "Maybe the financier regrets it. I think the money is also drifting." H said. In a recording of a conference on the Internet, people suspected of HR explained that although the SEC (US Securities Fair) was recorded, financing failed to pay as scheduled.

The 200 million yuan without the receipt became the last straw to press the camel.

"Disporalment in place" is one of the words that the media has used to describe the most fresh conditions daily since the 28th. However, what does it mean? In this matter, the daily freshness is very vague from beginning to end.

"Dissolves in place"

At the internal conference, a daily famous spokesman said, "Most people's work is over."

On the open channel, the daily fresh response, "Due to business adjustment, some employees leave. The next day, the smart vegetable field, retail cloud and other businesses are not affected."

However, according to the grass -roots employees, or the middle level, or the president -level executives, most people have revealed the meaning of "the company's substantive bankruptcy and the business substantial closure." It is also generally pessimistic for whether they can get back salary and compensation for respondents.

Daily Outstanding Fresh Business Adjustment

Such a contrast can not help but doubt.

Generally speaking, as the company's survival, as the founder and helm of the company, the CEO has to say a few words, thanks to the former investors, employees and users, and also appease people who have damaged interests.

But paradoxical is that Xu Zheng has not yet made a say, and has disappeared in the vision of the public and even the company's employees for many months.

Although H still retains the president's position, he has left more than a month ago. He revealed to Nanfeng Window Salt Finance, "As far as I know, the daily freshness is likely to go bankrupt and liquidation, because the main business of the front warehouse can no longer last." In addition, the smart vegetable market and retail cloud business are established respectively. The subsidiaries have been operating alone, but whether it can be split and runs for evaluation.

Regarding the guess of "Xu Zheng's running", H said that although Xu Zheng had long achieved Hong Kong identity, he had always seen that Shenlong had disappeared, but he knew that "people should still be in Beijing."

H said that Xu Zheng has been looking for money during this time and strive for more financing.

Daily Youxian CEO Xu Zheng

In this regard, on July 29, Xu Zheng also responded to the media: "I have been in China, this kind of rumor is too vicious."

Those who are injured

If you go bankrupt every day, a total of 4 people will be implicated by interests.

First, company employees.

Second, supplier.

Third, investors.

Fourth, users.

The first is company employees. It is understood that the daily Outstanding Fresh owes the salary of June and July. At the same time, it has applied for social security in May and June, and the social security of July was suspended. After the announcement of "stop work", the "N+1" solution for the mainstream of the market for employees was not given. Screenshot of the widely spread posts

A is a daily director -level employee who joined the daily freshness. She told Nanfeng Window Salt Financial reporter, "Colleagues who left in May, more than 200 people went to apply for labor arbitration. Although they have been permitted for enforcement, the contract The subject's account is no longer funds. "

On July 19, the industrial and commercial change in Beijing Daily Youxian E -commerce Co., Ltd., co -founder Zeng Bin, stepped down as the legal representative, and newly added Sun Yuying as the legal representative, executive director, and manager. In addition, the founders and CEO Xu Zheng, and Li Yang, vice president, also withdrawn from the company's main personnel.

A learned from the inside that as the legal person changes, the company has all transferred the funds to the account of several other subsidiaries. If there is no balance in the subject account of the contract, the arbitration may not be able to recover the arrears. "Everyone is relatively pessimistic, and I am not confident in the money."

In addition to arrears, A also mentioned that many young colleagues who have not purchased houses are worried about the issue of social payment. "Because Beijing needs to be qualified for house purchase for 5 consecutive years, the company has paid social security since May. Without resignation, employees cannot pay them by themselves. Once the payment period is over It is tantamount to abandoning the previous merit. "

In addition to employees, the daily fresh ownership is more of the supplier's money.

The daily "latest" three quarterly reports of the "latest" of the best freshness show that the net ownership of the daily unpaid suppliers is 1.652 billion yuan. Since new financial reports have not been made so far, if reasonable speculation, the total amount of the supplier may not be less than 2 billion yuan.

Based on relevant media reports, the most of the daily arrears of the offer of fresh arrears is close to 10 million yuan. The phenomenon of arrears since 2021 has gradually appeared, and many suppliers have been unable to recover the payment, and often appear "financial finding purchases, purchasing urging finance" to push each other.

In March, some suppliers reported on the complaint platform that "in April 2021, it began to debate, and huge amounts of payment in July, so far they have not been settled. . Now that South China Warehouse has been stopped, 90%of the suppliers have stopped supply, and there is no repayment plan every day. "

If there is still a hint of possibilities to collect some compensation for employees and suppliers, then the money of investors' money is already a final game.

Over the past few years, Daily Fresh has been constantly financed. Before listing in 2021, a total of 11 rounds of financing received a total of 14.271 billion yuan in financing.

However, according to financial reports, from 2019 to 2021, the daily loses of freshness were 2.909 billion yuan, 1.649 billion yuan, and 3.737 billion yuan. In just three years, it lost 8.3 billion yuan.

Behind the daily freshness, there are no shortage of state -owned investment. On the eve of its listing, China Gold Corporation, and some of the state -owned assets and Qingdao state -owned assets in Shanghai and Jiangsu participated in the daily excellent fresh F round of financing with a valuation of $ 3 billion.

However, since the moment it is listed, the daily stock price of Youxian has been down from the opening price at $ 10.65, and has not returned. After April 20, 2022, the stock price fell below $ 1, which has lasted for three months and hovered around $ 0.1. Among these investors, the worst losses are Qingdao state -owned capital, and the 2 billion yuan invested near the army was overwhelmed.

Daily Youxian stock

As for the user, it is the group that is relatively small after the daily closure, but it affects the most widely.

According to NetEase Big Data data, as of December 2021, the number of fresh active users daily is 5.717 million. Even if the business volume continues to decline this year, the service population remains at the number of users of a million levels.

It is very likely that every day Youxian will embark on the road of OFO Little Yellow -no money. The probability of the ending is the same, and it will be hung by users for a long time on the shame pillar of Chinese Internet companies.

Not the last one

Although it ended with a feathers in one place, in all fairness, daily freshness is not an unlucky company. On the contrary, it was lucky to make many peers jealous.

The founder Xu Zheng was a genius who was sent to the Department of Mathematics at the University of Science and Technology of China at the age of 15. Unlike some early advanced enrollment, it is not adapted to society. Xu Zheng's resume was smooth. After graduating from Lenovo, at the age of 28, he was the general manager of the youngest business department in China.

There is no doubt that this is an elite that has obtained double recognition under the Chinese education system and the business social system.

In 2014, Xu, 33, was pulling investment. In the context of winning the partner, he decided to do it alone. He founded the daily freshness in a more than 200 squares of apartments in Wangjing Kirin Club. He wants to turn daily freshness into the main purchase channels for the main purchases of fresh fresh purchases.

Daily Youxian CEO Xu Zheng

At that time, almost all research reports told investors that fresh freshness was a good business.

According to the report issued by iResearch, from 2015 to 2019, the consumption of fresh food in Chinese residents has risen year by year to reach trillions of tons each year. The size of China's fresh fresh retail market in 2020 exceeded 5 trillion yuan, and it is expected that this number will rise to 6.8 trillion yuan by 2025.

Excellent entrepreneurs plus a broad market prospect to make the daily fresh financing smooth. During the seven years before the listing, a total of 14.271 billion yuan of financing was ranked first in the 11 rounds of freshly, ranking first in fresh e -commerce, of which Tencent, Goldman Sachs, and Tiger star capital was the platform. User data is considerable. From 2018 to 2020, the number of effective users daily is 5.1 million, 7.2 million, and 8.7 million, respectively, and the average consumption is 558.0 yuan, 690.4 yuan, and 712.8 yuan. This means that it has a batch and transaction volume that increased the positive profits to users year by year.

However, once the most important "profit" of traditional business is focused on it, it is extremely embarrassing. The average annual loss of more than 2 billion yuan, and the "achievement" that has not seen improvement for a long time has almost shaken the logic of its commercially established.

In fact, not only daily fresh, players in this line are not very good.

For Ding Dong, which was listed in the United States at the same time as Daily, from 2019 to 2021, Ding Dong's buying vegetables lost 1.87 billion yuan, 3.18 billion yuan, and 6.429 billion yuan, respectively. More than 3 billion more than a daily freshness in three years.

"If it wasn't before the Shanghai epidemic, it reached a strategic cooperation with Bank of Shanghai to borrow more than 2 billion yuan, I am afraid they would be difficult for them." H revealed to Nanfeng Window Salt Financial.

According to statistics from the China Electronic Commerce Research Center, more than 4,000 fresh e -commerce companies have made a profit and loss balance, 88%losses, and 7%of the huge losses. In the end, only 1%achieved profitability.

Some people wondered, why is it so difficult to make money, isn't the need for buying food just needed? Coupled with the impact of the epidemic in recent years and the cultivation of user habits, it is reasonable to say that this is a very promising business.

The root cause of burning money lies in the core of the fresh fresh business -front positions.

Daily Outstanding Fresh Portrait

To put it simply, the front warehouse is to move the commodity warehouse from the remote suburbs to consumers, and bear the cold chain warehousing and the last mile logistics.

If there is no front position, the business of fresh fresh and timely business will not be established. If you pay attention to preserving and convenient fresh business, if you cannot send the dishes to the user within one hour, then the user may not go downstairs to buy it.

But the front warehouse is a very high -cost heavy -funded business. If you want to cover the city's delivery needs, you need to set up a warehouse in the city densely. The urban rents and the suburban rent are indispensable. If it is pushed at the same time in multiple cities, the cost will become extremely huge.

The densely set up a front warehouse requires high rent and a large number of manpower and material resources

While the cost is extremely high, the unit price of the fresh fresh business cannot be made up. Buying vegetables is ordinary consumption, as many as hundreds, fewer dozens. The "first customer unit price" advertised by Youxian's original prospectus daily is only 94.6 yuan.

The gross profit of the low -customer unit price cannot cover the cost of the front position mode. According to the Q3 report of the 2021 Q3, the daily freshness of each order is 22.2 yuan. In other words, sending a single loss 22.2 yuan is really difficult to fight.

Another executive of another fresh e -commerce company tells Nanfeng Window Salt Financial reporter that the daily freshness will not be the last one to fall. At present, the platform that focuses on the front warehouse model is not optimistic and is still " The state of who is more than anyone else ".

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