The loss in three years exceeded 8.4 billion yuan, and now there are only 55 employees left. What happened to Youxian Daily?

　　China News Service, November 16th (China News Finance reporter Wu Tao) "As of the date of this annual report, the company has a total of 55 full-time employees."

　　Recently, the news disclosed in the 2021 financial report submitted by Youxian Daily to the US Securities and Exchange Commission is surprising.

Why did the former unicorn enterprises fall to this point?

The three-year net loss exceeded 8.4 billion yuan, with only 55 full-time employees

　　Daily Youxian annual report shows that in 2019, 2020 and 2021, there will be net losses of 2.9094 billion yuan, 1.6492 billion yuan and 3.8498 billion yuan respectively.

Based on this calculation, in the past three years, Daily Youxian has accumulated a net loss of over 8.4 billion yuan.

Screenshot of Daily Youxian APP, currently its APP cannot be used normally.

　　In the past few years, Daily Fresh was rated as a fresh food e-commerce unicorn company by some organizations, but now it has been maintaining negative cash flow, and the future is worrying. Just as Daily Fresh said, "We may continue to have negative cash flow in the future. flow."

　　The annual report shows that in 2019, 2020 and 2021, the net cash used in the daily Youxian business activities were 1.9669 billion yuan, 1.6118 billion yuan and 2.589 billion yuan respectively.

As of December 31 in 2019, 2020 and 2021, the total current liabilities of Daily Fresh are 2.4188 billion yuan, 2.8978 billion yuan and 3.2993 billion yuan respectively.

Lawsuit-ridden, many executives are restricted from high spending

　　It is not just cash flow problems. It is very common for the legal representatives of the wholly-owned subsidiaries or holding companies of Daily Fresh to be restricted from high consumption, and many of its subsidiaries are involved in judicial proceedings.

Check the screenshots.

　　According to Qichacha, on August 16, Beijing Daily Youxian E-Commerce Co., Ltd. added 15 new items of information on persons subject to enforcement. The related cases involved disputes over housing lease contracts, copyright ownership, and infringement disputes.

　　In addition, Beijing Daily Youxian E-Commerce Co., Ltd. has 56 records of persons subject to enforcement. The company has also been involved in 373 judicial cases, and its legal representative, Sun Yuying, has been restricted from high consumption.

　　In fact, it is not just Beijing Daily Youxian e-commerce company that has problems.

The reporter sorted out that Qingdao Daily Youxian E-Commerce Co., Ltd., Jinan Daily Youxian E-Commerce Co., Ltd. and many other subsidiaries of Daily Youxian have the situation that the legal representative is restricted from high consumption or is entangled in judicial litigation.

　　Daily Youxian (Changshu) Supply Chain Management Co., Ltd. was also listed as an abnormal enterprise by the Changshu Market Supervision and Administration Bureau on September 30, because the registered residence/business place could not contact the enterprise.

Still

　　Daily Fresh has also been seeking transformation and assistance. At one time, it was reported that Daily Fresh would be acquired by Douyin.

On August 5, 2022, the person in charge of Douyin told Zhongxin Finance and Economics that the news that Douyin acquired Daily Youxian was not true.

　　The Daily Youxian annual report disclosed that on July 14, 2022, the company signed a strategic investment agreement with Shanxi Donghui Group, and Shanxi Donghui agreed to make an equity investment of 200 million yuan in Missfresh (the actual controller of Daily Youxian).

As of the date of this annual report, the transaction has not been completed, and the company has not received any funds from Shanxi Donghui.

　　Daily Youxian also stated that in August 2022, the company signed a business and asset transfer agreement to sell all assets and patents owned by Beijing Convenience Purchase, Jinan Convenience Purchase and other related subsidiaries at a total price of not more than 18 million yuan in cash.

　　It's just that, relying on the sale of assets, Daily Fresh may be unable to recover, and its business is currently almost at a standstill.

The reporter checked the Daily Youxian APP on November 16, but it could not be used normally. The main page displayed "Wait a moment, my master, please wait a moment before placing an order."

　　In fact, in July this year, the operation of Daily Fresh began to be abnormal. At that time, many media reported that consumers could not buy products normally. .

　　According to the daily Youxian annual report, in July 2022, major adjustments were made to the sustainable development business strategy, including the temporary closure of the on-demand DMW (distributed mini warehouse) retail business and the optimization of employees.

　　However, it is understood that the DMW retail business is the "lifeblood" for Daily Fresh.

According to the annual report data, as of December 31, 2021, the daily Youxian on-demand DMW retail business contributed about 90% of the total annual net income.

　　"We are still not sure whether and when to restart the on-demand DMW retail business." For future development, Daily Fresh said that the group is negotiating with potential investors and will continue to seek external financing to improve its liquidity position; In terms of business, Daily Fresh plans to develop its own brand products. At the same time, it can also provide value-added services to different participants in the community retail industry and share resources with them, but it is uncertain whether the business strategy adjustment will be successful.

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