500 yuan red line
According to a Maxim's mooncake distributor, the current selling price of Maxim's Seven Star Mooncakes at 499.8 yuan, which was 580 yuan before, has greatly reduced profits.
The customer service staff of “Jingwen Ginseng Rong Co., Ltd.”, who had previously made custom mooncakes for 2,888 yuan, said that this year’s most expensive mooncake gift box is priced at 498 yuan, including 12 mooncakes in the flavors of bird’s nest, ginseng, abalone Buddha jumping over the wall, and sea cucumber Buddha jumping over the wall.
The Peninsula Hotel once sold 1,688 yuan of Maotai coffee-flavored mooncake gift boxes, but this year, there are no more than 500 yuan of moon cake gift boxes sold in its official flagship store. The most expensive gift box is priced at 499 yuan. .
The National Development and Reform Commission and other departments recently jointly issued the "Announcement on Curbing "Sky-High" Mooncakes and Promoting the Healthy Development of the Industry", stating that it is necessary to implement key supervision on boxed mooncakes with a unit price of more than 500 yuan.
With less than a month to go before the annual Mid-Autumn Festival, moon cakes have been placed and sold by major merchants.
But this year's moon cake market has a new change.
A businessman who made custom moon cakes and supplement gift boxes told the Red Star Capital Bureau, "There is no (supplement gift box) this year, and the state regulations do not allow it."
It is understood that the No. 1 revision of the national standard "Restriction of Excessive Packaging of Commodities for Food and Cosmetics" was officially implemented on August 15, and it mainly made stricter regulations on the packaging of moon cakes and rice dumplings.
The National Development and Reform Commission also recently issued a document stating that it will implement key supervision on boxed mooncakes with a unit price of more than 500 yuan.
Chinese food industry analyst Zhu Danpeng told the Red Star Capital Bureau that the new regulations are beneficial to the development of the industry.
It may have an impact on some high-end mooncake brands, but it is a positive for mid-to-high-end and below mooncake brands.
1 new regulation /
Mooncake packaging is required to "reduce the burden" and focus on supervising boxed products over 500 yuan
In May this year, Amendment No. 1 (hereinafter referred to as "Amendment") of the National Standard "Restriction of Excessive Packaging Requirements for Food and Cosmetics" was approved for publication.
The amendments mainly make stricter regulations on the packaging of moon cakes.
The number of packaging layers, packaging volume, packaging cost, and mixed packaging requirements of moon cakes have been adjusted, as follows: the number of packaging layers of moon cakes has been reduced from a maximum of four layers to a maximum of three layers; the necessary space factor for moon cake packaging has been reduced from 12 is reduced to 7, which is equivalent to a 42% reduction in the packaging volume; the packaging cost of mooncakes with a sales price of more than 100 yuan will be reduced from 20% to 15% of the sales price; the cost of mooncake packaging with a sales price of less than 100 yuan will remain the same 20% unchanged; mooncakes must not be mixed with other products.
It is worth emphasizing that the amendment order requires that the packaging materials shall not use precious metals and mahogany materials.
After the revision order was released, in August, the State Administration for Market Regulation stated that the Mid-Autumn Festival and the National Day were approaching, and the State Administration for Market Regulation planned to study and issue a notice, deploy and carry out centralized rectification work, strictly investigate and deal with excessive packaging of moon cakes and seriously rectify "high-priced" moon cakes.
Subsequently, the China Consumers Association issued a document to jointly supervise the consumption of moon cakes with excessive packaging in conjunction with the China Bakery and Confectionery Industry Association.
The National Development and Reform Commission and other departments also jointly issued the "Announcement on Curbing "Sky-High" Mooncakes and Promoting the Healthy Development of the Industry" recently, which clearly stated that key supervision should be implemented on boxed mooncakes with a unit price of more than 500 yuan.
2 markets /
E-commerce platform moon cake gift box does not exceed 500 yuan, experts say the new regulations are good for mid-range brands
On August 15, the Red Star Capital Bureau searched for "moon cake gift box" on two well-known e-commerce platforms. In descending order of price, the most expensive moon cake gift box was priced at 499.99 yuan.
However, the "Mid-Autumn Festival gift boxes" on the e-commerce platform are not limited to less than 500 yuan, and there are also tens of thousands of yuan, but these gift boxes are not moon cakes, but all kinds of tea, desserts, etc., and some are called gift boxes. are expensive ingredients.
A Maxim’s mooncake distributor told the Red Star Capital Bureau that the current selling price of Maxim’s Seven Stars Mooncakes at 499.8 yuan, which was 580 yuan before, has greatly reduced profits.
The customer service staff of "Jingwen Ginseng Co., Ltd.", which has made custom moon cakes for 2,888 yuan before, also said that there is no gift box for moon cakes and supplements this year, because "national regulations do not allow them to be made."
The store's most expensive mooncake gift box is currently priced at 498 yuan, including 12 mooncakes in the flavors of bird's nest, ginseng, abalone Buddha jumps over the wall, and sea cucumber Buddha jumps over the wall.
It is worth noting that the store's original 2,888 yuan mooncake gift box contains 8 mooncakes and 6 cans of supplements.
According to reports, the well-known high-end hotel Peninsula Hotel has previously sold 1,688 yuan of Maotai coffee-flavored mooncake gift boxes, but this year, there are no more than 500 yuan of mooncake gift boxes sold in its official flagship store. The most expensive gift box is priced at 499 yuan, the taste is milk yellow lotus paste.
"The new regulations will definitely have a great impact on Maxim's (and other high-end mooncake brands), and it will definitely be good for mainstream mid-range mooncake brands, such as Guangzhou Restaurant," said Zhu Danpeng, an analyst in the food industry.
Maxim’s mooncake distributor Shanghai Fuli Industrial Co., Ltd. told the Red Star Capital Bureau on August 15 that at present, the new regulations have little impact on it, because the price of its two best-selling mooncakes is “less than 300 yuan per box. Yuan".
The high-end Qixingbianmingyue mooncake gift box sells for 430 yuan per box, which does not exceed 500 yuan, and the packaging is also compliant.
Red Star Capital Bureau also sent a letter to Guangzhou Restaurant to consult the impact of the new regulations on it. As of press time, there has been no response.
3 Operation /
The average production cost is only 70 yuan?
There are listed companies selling moon cakes with an annual income of 1.5 billion
"Moon cakes are very profitable. Usually, the production cost of a box of moon cakes will not exceed 70 yuan. The water inside is very deep. The gross profit margin of some manufacturers can be as high as several times." Zhu Danpeng, an analyst in the food industry, was interviewed by the media. time indicated.
The relevant person in charge of the National Development and Reform Commission also introduced in an interview with the media that according to the cost survey of the National Development and Reform Commission and the data of industry organizations and e-commerce platforms, from the market situation for many years, the average production cost of boxed mooncakes is about 70 yuan per box. The sales of boxed mooncakes with a unit price of less than 200 yuan accounted for more than 80%, and the unit price of more than 500 yuan accounted for about 1%.
At present, there are also some listed companies on the A-share market whose main business involves the production and sales of moon cakes, including Yuanzu Co., Ltd., Guangzhou Restaurant, and Taoli Bread.
According to Guangzhou Restaurant’s financial report, in 2021, the company’s moon cake series products will have a gross profit margin of 56.46%, and achieved revenue of 1.521 billion yuan during the reporting period, contributing nearly 40% of its revenue. It is also the company’s product with the highest gross profit margin.
Yuanzu Co., Ltd. did not separately disclose the revenue and gross profit rate of moon cake products in the 2021 annual report. The company's moon cakes, rice dumplings and other products are classified into Chinese and Western cake gift boxes. During the reporting period, Yuan Zu shares Chinese and Western cake gift boxes income 1.464 billion yuan, It accounts for nearly 60% of the main business income, and the gross profit rate is 51.51%.
The gross profit margin of Taoli Bread’s mooncake products is slightly lower, reaching 22.66% in 2021. During the reporting period, it achieved revenue of 133 million yuan, accounting for about 2%.
"In recent years, the country has continued to crack down on 'high-priced' moon cakes in order to make the entire consumption more rational, healthy and orderly. Before this year's Mid-Autumn Festival, multiple departments jointly issued the above-mentioned "Announcement", which will play a role in the healthy development of the entire industry. To a very good guiding role." Zhu Danpeng said.
The aforementioned person in charge of the National Development and Reform Commission also mentioned that in the future, the relevant departments will take various measures to curb the "sky-high" moon cakes, such as improving the policy system, strengthening industry guidance, and strengthening supervision and law enforcement.
In addition, before the Mid-Autumn Festival this year, the market supervision department will also carry out a special rectification action for "high-priced" moon cakes, focusing on luxury hotels, e-commerce platforms and other channels, conducting supervision and inspection, and monitoring those that do not meet the mandatory standards for food safety and restricting excessive packaging. , as well as those who do not implement clear price regulations, price fraud and other illegal acts, will be strictly investigated and dealt with, and relevant illegal information will be incorporated into the national credit information sharing platform in accordance with laws and regulations, and will be published on the "Credit China" website and the national enterprise credit information publicity system. Announcement.
Chengdu Business Daily-Red Star News reporter Yu Yao Zhang Luxi
Comprehensive Southern Metropolis Daily