When superstar Jay Chou said, "You are my Youlemei", Youlemei milk tea became a necessary artifact to pick up girls. It is also Jay Chou's well-known phrase "Love and act immediately" that makes "Emma" a famous brand of electric vehicles.
Liu Mengjie Company is a brand of Emma Technology Group Co., Ltd., founded in 1999, and officially entered the electric bicycle industry in 2004. Is one of the earliest electric bicycle manufacturers in China. Today, the real controller of Emma Technology is Zhang Gege, the 28-year-old daughter of Zhang Jian, and behind them is a huge electric car family. Zhang Jian, the head of the company, three brothers and sisters of Zhang's in Shangqiu, Henan, the owner of Bird electric vehicle and the head of BBK electric tricycle, occupy half of this market and are called "the first family of electric vehicles in China".
Before the birth of Emma brand, Emma Technology was a little-known bicycle production and sales enterprise in Tianjin.
In the 1980s after the reform and opening up, the bicycle industry began to enter a period of vigorous development and flew into the homes of ordinary people. At that time, Tianjin was one of the few cities in China that was at the forefront of the bicycle market, and was once known as the "kingdom of bicycles". Famous old bicycle products such as "Flying Pigeon" and "Red Flag" were born at that time.
Like most businessmen in Tianjin, there were two local Tianjin boys named Zhang Jian and Qiao Baogang. They also wanted to get rich by taking advantage of the east wind of the bicycle industry, so they patched together and finally started the bicycle business with their hard-earned 500,000 yuan. 1In August, 1999, Tianjin Taimei Vehicle Co., Ltd. was incorporated.
With the entry of Thai-American bicycle industry, China bicycle industry has gradually entered the Red Sea period. Since 2000, the electric vehicle industry in China has formally entered the initial stage from scratch, and gradually entered the stage of rapid development.
At that time, the bicycle business of Taimei Auto was doing well. However, the rise of the electric bicycle industry has made Zhang Jian, who has a keen sense of business, realize that the next outlet of the industry is coming soon.
In 2004, Taimei auto industry became the first batch of enterprises in Tianjin electric vehicle industry to eat crabs. In order to develop the electric vehicle business, Zhang Jian invited his brother-in-law Zhang Yanfeng and his sister Zhang Ru to make suggestions for the development of the electric vehicle business, and transferred part of his equity to the latter. In 2009, Taimei Vehicle Industry was changed to Tianjin Emma Technology Co., Ltd., and was changed to Emma Technology Group Co., Ltd. on 2015 10, and Zhang Jian's controlling shareholder status remained unchanged.
Facts have proved that Zhang Jian's decision is not wrong. The data shows that from 2004 to 20 13, China's electric vehicle industry entered a stage of rapid development, and its output increased year by year. By 20 13, the output of electric vehicles in China has reached 36.95 million, which is a qualitative leap compared with the output of 290,000 in 2000.
Emma Technology, which got on the express train of electric vehicle industry, has built a huge marketing network system through distribution mode after years of continuous accumulation. At the same time, the company also used the fan effect to invite Jay Chou, a popular star born in 1980s and 1990s, to speak for Liu Mengjie Company for ten years, and the company's brand influence and industry status also improved.
At first, Zhang Jian launched an attack in sinking markets such as towns and villages, pulling banners, setting up signboards and shelling villagers. In order to attract villagers to test drive in the countryside, Emma once set up a megaphone to publicize. However, what really made Emma popular all over the country was to find the spokesperson Jay Chou. In 2009, Emma, who was still unknown, invited Jay Chou to be the spokesperson at a sky-high price and became popular. Emma paid 30 million yuan for endorsement in two years, breaking the record of 20 million yuan for shampoo endorsement in Faye Wong at that time.
Yu Lin, then the general manager of Emma Technology, shared the details of Emma's endorsement of Jay Chou with the outside world: "Jay Chou is very cautious about endorsement and will not agree until he has a deep understanding of the brand." Thanks to Emma's cooperation, Jay Chou's endorsement fee is much higher than Jackie Chan's and Andy Lau's, making him the most expensive star in the electric vehicle industry.
Of course, Emma didn't lose money on this 30 million endorsement fee. At that time, Yu Lin explained: "The marketing amount of our brand is as high as 500 million yuan, and 30 million yuan is only a small part. Jay Chou endorsement can enhance brand awareness, and the brand value of one year can reach 2 billion yuan. "
Besides Jay Chou, Emma also invited stars such as Fan Bingbing, EXO and Kim Soo Hyun to speak for her products. Since then, Emma has successfully entered the youth group. According to the data of China Market Information Research Association, the global cumulative sales volume of Emma Technology from 2006 to 20 19 has exceeded 4 1 10,000 vehicles.
However, with the gradual maturity of the industry, the era of gaining market share only by marketing means is gone forever. In recent years, Emma's first position in the electric bicycle industry has been gradually surpassed by her old rival Yadea. At the same time, Internet companies represented by Mavericks have entered the electric bicycle industry, which has also brought great pressure to these traditional electric bicycle manufacturers.
With father and daughter in battle, electric donkeys are popular in China county, selling 7.5 million vehicles a year and earning nearly 654.38+03 billion.
As one of the most popular electric vehicles in China county market, how many cars does Emma sell a year?
Emma's main business includes research and development, production and sales of electric bicycles, electric mopeds and electric motorcycles. The latest prospectus shows that in 20 18, 20 19 and 2020, the sales volume of Liu Mengjie Company will be 4,553,300, 5,645,000 and 7,540,700 respectively.
Income should not be underestimated. The data shows that Emma's operating income in 20 18, 20 19 and 2020 will be 8.99 billion yuan, 1042 billion yuan and 129 billion yuan respectively. The net profit was 430 million yuan, 520 million yuan and 66,543.8+0 million yuan respectively.
But there are also hidden concerns behind it. According to the prospectus, from 20 18 to 2020, the gross profit margins of the company are 13. 12%, 13.68% and1.35%, respectively, while the gross profit margins of Yadea's peers are Whether compared with competitors or the average level of listed companies in the same industry, there is a gap in the performance of the company's gross profit margin.
In this regard, Emma's explanation is that the domestic market competition environment is becoming increasingly fierce. In order to seize the market, the proportion of promotional models sold by the company increased, resulting in a decline in gross profit margin. In addition to external reasons, Emma's lack of competitiveness caused by focusing on marketing and ignoring research and development may be the key reason.
With Jay Chou's endorsement, Emma has firmly occupied the first position in the industry for a long time, but marketing is also an expensive expense. According to the prospectus, from 20 18 to 2020, the company's sales expenses accounted for 4.49%, 4. 10% and 3.09% of its operating income respectively. On the other hand, its R&D expenditure is less than 2% of its revenue, reaching 1.67%, 1.89% and 1.86% respectively. Emma also admitted in the prospectus that the proportion of R&D expenses is lower than that of comparable listed companies.
Interestingly, * * * once provided Emma with a large number of cycling orders. Emma Technology also stated in the prospectus that due to the rapid development of * * * bike-sharing, in 20 17, not only the company's bicycle business, but also the revenue share of the top ten customers increased slightly, among which the largest customer, * * * bike-sharing giant mobike (Beijing) Information Technology Co., Ltd., made the biggest contribution, with its current sales revenue reaching 346 million yuan, accounting for 4.44% of the total revenue. But now, with the end of bicycle enjoyment, where should this piece go?
Nowadays, the post-90s generation has become the mainstream consumer of electric vehicles. To this end, Emma not only spent money on marketing, but also set up more than 1000 fashion terminals with artistic beauty all over the country-cycling halls, and created a number of riders' interest organizations such as "Maifen", "Geek Club" and "macaroon Fun Club" to create Emma's exclusive fan ecosystem. This brand of electric motorcycles, which is very popular in China county, has been trying to keep itself fashionable.
At this point, Emma officially became the fourth listed company in the industry-"the king of two-wheeled electric vehicles" Yadea listed for many years; The market share is not as good as Emma's, and Xinri has been listed for more than two years. Even Mavericks, founded at the end of 20 14, landed in the US stock market in June of 20 18, with a strong momentum recently. Since 2020, its share price has quadrupled. This Jianghu is fiercely competitive.