China News Network, April 4 (Zhongxin Financial Reporter Xie Yiguan) This "duck" is on the hot search again, but this time because of the loss.
Recently, "Quanjude has lost money for three consecutive years" has aroused widespread attention, some people wonder, "can you still lose money if you sell so expensive", and some people are worried, "Is it about to become 'ST roast duck'?" ”
As a time-honored brand with a history of more than 100 years, why does Quanjude lose so much?
Infographic: Citizens dine at Quanjude Heping Store in Beijing. Photo by China News Agency reporter Zhao Jun
What you earn in six years is not worth three years of losses
When it comes to Quanjude, people are no strangers. Founded in 1864, Quanjude not only has the famous roast duck, but also owns brands such as "Quanjude", "Imitation Meal", "Fengzeyuan" and "Sichuan Hotel".
However, Quanjude recently announced its 2022 financial report, which made shareholders gasp. According to the financial report, the operating income in 2022 will be 7 million yuan, a year-on-year decrease of 19.24%; The net profit attributable to shareholders of the listed company was a loss of 16 million yuan.
This is the third consecutive year that Quanjude has lost money. Zhongxin Financial Reporter Combing Financial News found that in 2020 and 2021, Quanjude's net profit losses attributable to shareholders of listed companies were about 2 million yuan and 62 million yuan, respectively. Based on this calculation, in the past three years, Quanjude has accumulated a total loss of about 1 million yuan, and the degree of loss even exceeds the total net profit from 57 to 6.
In the 2022 financial report, Quanjude attributed the reason for the loss to "in 2022, many of the company's stores were affected by macro factors to close stores or close dine-in, which had a serious impact on operations, and there was a large loss in profits throughout the year".
With dine-in affected, Quanjude actively expanded its takeaway business, carrying out 26 online takeaway marketing activities in the past year, with a year-on-year increase of 41%.
It is worth mentioning that although the dine-in business is not good, Quanjude has not stopped the pace of opening stores. According to the announcement, in 2022, Quanjude will add 3 new directly-operated stores. As of December 2022, 12, Quanjude has a total of 31 catering stores, including 102 directly operated stores, 44 franchised stores (including 58 overseas franchised stores), and 8 food processing enterprises.
Infographic: Citizens dine at Quanjude Heping Store in Beijing. Photo by China News Agency reporter Zhao Jun
How the century-old store "old man talks about juvenile madness"
As a well-known time-honored brand, Quanjude continued to lose money, did not win the sympathy of netizens, bluntly said that "with the shelves of a century-old store in Beijing, everything else can not keep up with the times" "How much I liked it when I was a child, how annoying I am now, it is difficult to eat and expensive and the service is not good." ”
Quanjude is clearly aware of its own problems. In March 2021, Zhou Yanlong, general manager of Quanjude Group, said at the 3th China Catering Innovation Conference that Quanjude needed to "undergo surgery" and re-understand the expectations of young people for time-honored brands. "We are 'old man talking about juvenile madness'. When it's really time to fight, you have to put down your body, and it is a trend for consumers to be younger. ”
In the face of consumers' complaints that the price of dishes is too expensive and the service fee is too high, Quanjude has also carried out drastic reforms. On July 2022, 7, on the occasion of Quanjude's 24th birthday, General Manager Zhou Yanlong announced the cancellation of store service fees, adjustment of dish prices, and comprehensive unification of roast duck prices and production processes, so that the overall price of dishes will be reduced by 156% to 10%, and the membership price of roast duck will be adjusted from the original 15 yuan to 258 yuan.
Infographic. Photo by China News Agency reporter Zhao Jun
Quanjude, which seeks transformation, is also making efforts to prefabricated dishes, saying in its financial report that it has developed 30 categories of prefabricated vegetables and cooked food products into the market.
In the past two years, pre-made vegetables stand under the "spotlight" of the catering market, according to iMedia consulting data, the scale of China's pre-made vegetable market in 2022 will reach 4196.21 billion yuan, a year-on-year increase of 3.2026%, and it is expected that the pre-made vegetable market will reach 10720,<> billion yuan in <>.
In addition to squeezing into the pre-made vegetable market, Quanjude also launched two customized sauce-flavored liquor in online flagship stores and stores, starting a "wine business", which once drove Quanjude's stock price to soar, hitting a new high in more than 5 years.
However, this rally did not last. As of April 4, Quanjude closed at 10.14 yuan, with a total market value of about 97.46 billion yuan, and the stock price has fallen 2.34% this year.
Judging from the above measures, Quanjude is indeed "following the trend", but from the perspective of consumer feedback, Quanjude may still have some way to go. (End)