Sino-Singapore Jingwei Client, August 3 (Dong Xiangyi) "I bought two lots and lost nearly 8,000. The fall was too fast, I was caught off guard, kill pigs!"
"There is a kind of rushing foot without a day of turning over. I wanted to take it again, but now my hope is shattered."
Investors Ronaldinho and Linda who bought the Hong Kong stock Naixue's tea respectively sent such emotions to the Sino-Singapore Jingwei client, as if they were hit by a bolt from the blue.
And the investors who did not win the lottery at the beginning secretly rejoiced that they "escaped a catastrophe"...
In the secondary market, compared with the beginning of listing, the market value of Nayuki's tea has evaporated by more than 17 billion Hong Kong dollars, or about 14.2 billion yuan.
More than a month since its listing, the market value of over 10 billion has been wiped out. What happened?
How can Nayuki's tea have the confidence to go on in the capital market?
New latitude and longitude in the data map
"A Nightmare"
On August 2, Xinhua News Agency exposed the food hygiene chaos of the online black tea shop "Naixue's Tea".
Many branches of Naxue’s tea have problems such as roach crawling, fruit rot, unwashed rags, and false labels.
In the busy Beijing Xidan Joy City store, a cockroach the size of a fingernail crawls from the bottom of the bread showcase to the bread making room.
But the clerk on duty in the same group replied, "It's okay, don't worry about it."
In addition, in the "Nayuki's Tea" Chang'an Mall store, some blackened mangoes were placed on the back kitchen table, and employees were reminded to remove the "black" part and continue using it.
Some label paper and other debris accidentally fell into the mango puree, and the mango puree continued to be used after the debris was picked out.
Once exposed, Nayuki's tea quickly grabbed the hot search on Weibo, causing public opinion.
Regarding issues such as "cockroaches on the ground", "black mangoes", and "wrong production label identification", Nayuki's tea finally responded in the early hours of the 3rd, saying that a special working group was established as soon as possible to carry out overnight investigations on the stores involved. Check and rectify.
The two stores involved are temporarily closed today. At the same time, the Market Supervision and Administration Bureau will be invited to inspect them and announce the inspection results to everyone as soon as possible.
Nayuki said, I'm very sorry. For us, the most important thing at the moment is to find the problem quickly, formulate a solution, and rectify it quickly.
Nayuki's Tea Statement
Can an apology and a statement quell this turmoil?
Judging from the comments of netizens, it is obvious that they are not buying it.
Many netizens questioned that it was too late for Nayuki's tea apology, and the "complete investigation and rectification" were only a mere formality. Once the storm has passed, it will be restored to the original state.
"Rectification is a joke."
"A gust of wind passed and returned to its original state."
"Every time you come out and apologize for this kind of thing? Please trouble the relevant departments to crack down on it!"
"First, rectify the hygiene, and then change the soup without changing the medicine after the reopening, but will be more careful so as not to be found, right?"
...
Weibo comment screenshot
Some netizens believe that even Beijing stores have the above-mentioned food safety issues, and stores in other regions may be worse than they are.
"What about the rectification? Just rectify when it is exposed. What about the ones that are not exposed? It's not the same."
"Even the stores in Beijing's big business districts have problems. Quality control in other places can be imagined."
"Xidan Joy City, as one of the stores with the largest passenger flow, is actually like this... I dare not imagine other stores."
Weibo comment screenshot
Some netizens even revealed that they had drunk foreign bodies in Nayuki's tea. One netizen said, "Did it once, and it's the only time, because drinking tape is really bad for hygiene!"
Some netizens said, "In the tea shop of Wangfujing apm Nayuki, a red thumb-big bug came out. I will never go to Nayuki after I was scared to death."
In the opinion of Liu Chunsheng, associate professor of Central University of Finance and Economics, post-event error correction is never as good as pre-event warning and risk management. How to really do a good job of the first line of defense of food safety will be better than its "net celebrity attribute." It's much more important.
Faced with a wave of questioning that is higher than the wave, what exactly can Nayuki's tea make to completely change the status quo?
"tip of the iceberg"
The Sino-Singapore Jingwei Client has noticed that in recent years, the safety of Naixue’s tea food has been repeatedly exposed, and the Beijing Xidan Joy City store and the Chang’an shopping mall store are just the tip of the iceberg.
In May 2020, according to media reports, Nanchang consumer Ms. Sun bought an European bag at a tea shop in Naixue. She bought it at 3pm and found that the bread had white hairs and mould at 9pm. Spoiled.
The person in charge of the Nanchang area expressed willingness to compensate for a coupon.
And Ms. Sun insisted on paying compensation in accordance with the provisions of the Food Safety Law, so the other party's compensation gradually turned into 5 coupons, 10 coupons, and then added to 200 yuan.
Ms. Sun said that as a loyal consumer, she was very disappointed by the way she bargained.
According to the Shanghai Municipal Market Supervision and Administration Bureau, on August 5, 2020, the Putuo District Market Supervision Bureau commissioned a third-party testing agency to randomly conduct food safety sampling inspections on the big coffee mandarin duck drinks made by Shanghai Naixue Catering Management Co., Ltd. Daduhe Store , The results showed that the total number of bacterial colonies in the sample exceeded the standard, which violated the Food Safety Law.
For this reason, on November 3, 2020, the Putuo District Market Supervision Bureau made an administrative penalty decision of confiscation of illegal income and a fine of 50,000 yuan.
In June 2019, law enforcement officers from the Shenzhen Municipal Market Supervision Department conducted a surprise inspection of Naixue's tea.
At the Naixue’s tea shop in Zhuoyuehui Shopping Mall in Futian District, Shenzhen, the law enforcement team found that there were employees in the shop’s operating table area who did not wear masks as required, and the glass doors of the food storage cabinets in the back of the shop were malfunctioning. Locked situation.
In June 2018, when the General Office of the General Administration of Market Supervision issued a notice on strengthening the supervision and management of fresh milk tea fruit and vegetable juices, media investigations found that the staff of Naixue's tea store in Guangzhou did not wear work caps as required.
At that time, Peng Xin, the founder of Naxue's tea, responded that all the partners who make products in the back kitchen of the store require to wear hats and masks, and the partners who serve customers in the front office do not require them to be worn in order to better serve the guests.
However, when the media asked whether the employees who did not wear work caps in the pictures taken were back kitchen employees, Peng Xin did not continue to answer.
It is worth noting that Nayuki's tea is also a "frequent customer" of Sina's consumer complaint platform Black Cat.
As of press time, there are 380 complaints related to Naxue’s tea. Users reported that they had eaten foreign objects such as hair and plastic, the fruit on the bread was moldy, and the bottle cap of the product "Domineering Jade Orange" was covered with aluminum oxide. Some users also complained about Naxue’s tea. Directly affix a new label to a drink that has not been sold before and sell it as a new product.
Screenshot of the "Black Cat" platform
According to the "Shandong Daily" report, since May 2020, Naxue’s tea has started to publish monthly safety self-inspection reports, but most of the self-examination issues announced by Naxue are "food ingredients are not first in, first out" and "hygiene without contact with food." Some netizens commented that these self-examinations are more like "innocent bitter tricks", and it is not as good as other food and beverage brands to directly fine if they find problems.
According to many analysts, for Nayuki's tea, the most important thing at this stage is to improve food safety and quality.
Once a company is exposed to a hidden danger in food safety, it will be more difficult to repair the brand's reputation in the future, which will cause investors to question, and the stock price will continue to be under pressure.
"I think Naixue's tea lacks the sense of responsibility and responsibility that it should have as a listed company." Zhu Danpeng, a Chinese food industry analyst, told the Sino-Singapore Jingwei client bluntly that decision-makers who do not pay attention to food safety will definitely be abandoned by consumers.
Consumers are first concerned about food safety, and second are brand tonality, quality stability, service system and scene innovation, but food safety must rank first.
Nayuki's tea is the highest-end milk tea with the highest unit price. Frequent food safety issues are a big blow to consumers and irresponsible to society.
Image Source: Nayuki's Tea Official Weibo
Ouyang Yujian, chief analyst in the consumer industry of Chuancai Securities, also believes that internal supervision cannot keep up with the speed of enterprise development, and food safety issues continue to arise. Gradually weaken the green, healthy and fashionable high-quality brand image established by the high-end milk tea industry, resulting in a continuous decline in consumer loyalty to the brand, which is not conducive to the high-end development of the milk tea industry.
Pan Helin, Executive Dean of the Institute of Digital Economy, Zhongnan University of Economics and Law, pointed out that with the deepening of supervision, the future competition of new tea companies will mainly be management competition. The core of the chain store model is also management, which includes food safety management.
The current supervision attaches great importance to food safety issues, which is the "line of life and death" that companies cannot cross Lei Chi.
"Digest the sorrow"
When bad news came, Nayuki's tea also encountered investors' "voting with feet".
At the opening of the market on August 3, the Hong Kong stock Naxue's tea opened sharply lower. It once fell to 10% during the session. As of press time, it was reported at 9.81 Hong Kong dollars per share, with a market value of 16.8 billion Hong Kong dollars.
Compared with its initial issue price of 19.8 Hong Kong dollars per share, Nai Xue's tea market value has evaporated by more than 17 billion Hong Kong dollars, or approximately 14.2 billion yuan.
Since its listing, Naxue’s Tea Hong Kong stock price performance Wind screenshot
Since Nayuki's tea officially landed in Hong Kong stocks on June 30, its share price performance has been unsatisfactory.
After Linda won the contract for Naxue’s tea, he bought a lot (500 shares) at the issue price. After being exposed to food safety issues, he sighed to the Sino-Singapore Jingwei client: "I lost more than 5,000 Hong Kong dollars in one hand. I thought the market was not good. I want to take it again. I read the news in the morning and felt hope was dashed."
"I bought two hands and lost nearly 8,000." Another investor, Ronaldinho, who bought Naxue's tea, complained to the Sino-Singapore Jingwei client. "(Naixue's tea) fell too fast. I was caught off guard. Let’s go to the pig plate.” She said frankly, “I didn’t buy from Nayuki’s fundamentals or anything, but I lost ten points at the time and made a handful of them. sad."
The prospectus shows that from 2018 to 2020, Naixue's tea achieved revenue of 1.087 billion yuan, 2.502 billion yuan, and 3.057 billion yuan, with annual revenue growth rates of 130.17% and 22.18%, respectively, showing a sharp decline.
Under the International Financial Reporting Standards, Naxue's tea net losses in 2018 and 2019 were 69.73 million yuan and 39.68 million yuan, respectively. The net loss in 2020 increased by more than 400% to 203 million yuan.
Nayuki’s Cha said, “We have incurred net losses in the past, and we may continue to incur significant net losses in the future.”
But even if truthfully and frankly, the investors of Nayuki's tea are obviously not prepared to face sudden bad news. After being repeatedly exposed to food safety issues, how can Nayuki's tea have the confidence to continue in the capital market? ?
What is its future market performance?
Zhang Cuixia, chief investment consultant of Jufeng Investment, pointed out that food safety issues will basically have a certain negative impact on overall capital.
Nayuki's tea is listed under the aura of "the first stock of new tea drinks". The requirements and expectations of the outside world for it are higher than in the past, including food safety.
As long as it performs poorly, the negative effects will inevitably be magnified. Under the impact of such a negative information, it is very obvious that the risk of stock price decline will be released.
Zhang Cuixia believes that in the secondary market, if relevant listed companies fail to protect their brand awareness and do not have food safety awareness, they may create a storm of distrust among the people and may lead to the release of risks in the secondary market's stock prices.
The Tianyancha App shows that Naxue’s tea has gone through five rounds of financing so far. The most recent round was the completion of a C round of more than $100 million in financing on January 4 this year. The lead investor is the Pacific Alliance Investment Group (PAG).
This round of financing will be used to increase investment in product research and development, and will continue to deepen the supply chain and digital construction to enhance the product experience of consumers.
How can Nayuki's tea give investors a satisfactory answer to the "harvest" of the listing and the capital gathering to raise funds?
We need to put a question mark.
(Zhongxin Jingwei APP)
(The opinions in the article are for reference only and do not constitute investment advice. Investment is risky and you need to be cautious when entering the market.)
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