Once Nongfu Spring was "a little sweet", now Nongfu Spring is "a little thirsty".
On the evening of April 29th, Nongfu Spring officially submitted its prospectus to the Hong Kong Stock Exchange, with CICC and Morgan Stanley as co-sponsors, and the estimated fundraising scale is $654.38 billion. A huge bottled water "empire" surfaced.
In the past 20 years, there has been news that Nongfu Spring has been listed.
As early as 2003, Nongfu Spring was designated as a "company to be listed" by Zhejiang Securities Regulatory Bureau. Until 20 19 12, Zhejiang Supervision Bureau of China Securities Regulatory Commission issued the Report of CITIC Securities Co., Ltd. on the Termination of Counseling of Nongfu Spring Co., Ltd., which showed that Nongfu Spring had been listed by CITIC Securities for 10 years. After friendly negotiation,
Nongfu Spring has not been listed on the A-share market after 10 years of listing counseling. In the face of fierce debate, Zhong Shanshan, chairman and general manager of Nongfu Spring Co., Ltd., responded to the debate by saying: "The capital market pays attention to demand and demand, and Nongfu Spring has no demand and does not need to be listed".
Compared with the cold treatment of Nongfu Spring IPO, Zhong Shanshan is more concerned about the listing of its brother company Wan Tai Bio. According to the investment report, in 200 1 year, due to the unsatisfactory operating conditions, Wan Tai Bio-equity was frequently transferred. Zhong Shanshan, who took a fancy to the big health map, won Wan Tai Bio in one fell swoop, directly and indirectly holding 83% of its shares, becoming the actual controller of Wan Tai Bio. 2065438+In June, 2006, Wan Tai Bio began to go public. Three years later, I submitted the prospectus three times and went public as I wished.
Just after the brother company here rang the bell, Nongfu Spring, which was "not listed" there, went straight to the IPO of the Hong Kong Stock Exchange.
Some people think that Nongfu Spring's move is not sudden, or in order to enter the 2.0 era, Nongfu Spring needs to integrate new blood, which also impacts A shares.
According to Tiger Sniff's report. Com, the current valuation of Nongfu Spring has reached 1000 billion Hong Kong dollars, and some optimists even shouted out a "bid" of 654.38+030 billion Hong Kong dollars. Nongfu Spring has a strong profitability. The prospectus lets the outside world know that Nongfu Spring, which has been saying "no listing", has been making a fortune silently.
From 2065438+02 to 2065438+09, Nongfu Spring maintained the first market share of packaged drinking water in China. Cyanhill Capital's research report also shows that in the bottled water industry, Nongfu Spring's market share is as high as 26%, followed by Ipoh (2 1%), Baisui Mountain (10%), Master Kong (9%), Lu Bing (9%) and Wahaha (7%).
The most common bottle of 550ml Nongfu Spring drinks natural water, and the retail price in the supermarket is only 2 yuan/bottle. The price of 12 bottles on the e-commerce platform is 15.9 yuan, and the average price per bottle is less than 1.4 yuan.
The gross profit margin of low-priced packaged drinking water is very high.
According to the municipal report, the gross profit margin of packaged drinking water products in Nongfu Spring changed little from 20 17 to 20 19. Taking the latest data of 20 19 as an example, the gross profit margin of packaged drinking water products in Nongfu Spring is as high as 60.2%.
In the sales cost of Nongfu Spring, raw materials and packaging account for the largest proportion. Taking 20 19 as an example, the raw materials of Nongfu Spring include PET, sugar, fruit juice, etc. But only PET accounts for 3 1.6% of the sales cost; Including cartons, labels, shrink films and other packaging materials, accounting for 3 1.5% of the sales cost.
The core of Nongfu Spring is water, but it is the cheapest.
I believe that most readers are most impressed with Nongfu Spring by the advertising words "Nongfu Spring is a little sweet" and the striking red cover on the package.
After decades of operation, Nongfu Spring has taken this package as its own exclusive symbol. However, since 20 15, Zhong Shanshan has made great efforts in the design of Nongfu Spring, started to innovate, embarked on a high-end internationalization route, and spread by Yan value.
According to the enterprise survey, Nongfu Spring Co., Ltd. applied for the most design patents.
The design of this precious bottle was invited to five studios in three countries, and it took three years, 58 drafts and more than 300 designs to be finalized. The design also won five international awards in the field of packaging.
On 20 15, Nongfu Spring Company applied for 9 design patents for this bottle sticker (China Design Authorization AnnouncementNo.: CN30326701s-CN303267067s, CN303257904S and CN3037 1 1507S).
On 20 14, the design of student bottles applied for an appearance patent (China appearance patent authorization announcement number: CN303263622S), and the applicant applied for bottles with different heights as similar designs. At the beginning of 20 15, four patents for bottle label design were applied in China (China Design Authorization AnnouncementNo.: CN3032579 19S, CN3032579 18S, CN3032579 17S, CN30326707/.
In 20 14, nongfu spring company also applied for * * 3 baby bottle patents in China (China design authorization announcement number: cn303117972-cn303117974s). By comparing with the actual products, Nongfu Spring Company finally chose the appearance with the announcement number "CN303 1 17973S" as the packaging of its main products.
It is reported that the sales of the above three novel bottle designs exceeded 1 100 million within 8 months, and the popularity and corporate brand image of Nongfu Spring were improved.
Lu Zeng, the appearance department of Jinghua Center, said that the competition in the bottled water market is fierce, and many brands and consumption are gradually moving to the high end. For example, Evian, Paris Water and other brands have increased greatly, and Nongfu Spring, which is dominated by natural water, may be affected. Nongfu Spring Flower attaches so much importance to patent application that its connotation is to increase demand and increase the added value of products by changing the appearance of packaging bottles.
In the capital market, this bottle of water may be sweet at this time, but it is far less impressive than Coca-Cola and Maotai. How to stand out in this battlefield without smoke is worthy of Nongfu Spring's continued thinking.
(This article only represents the author's point of view and does not represent the intellectual property position. )