Daily fresh, die in the front position?

Produced ｜ Pai Finance

Text ｜ Editor Wang Feiyi ｜ Edit Son

This time, the daily freshness really collapsed.

On July 28, it was reported that because the plan in the plan was not in place, the daily freshness announced the dissolution of the place and began to lay off in various ways. On the same day, users found that there was a top announcement of the daily prefabricated homepage, saying that the delivery time was the fastest the next day, and the daily freshness officially became "Youxian".

In this regard, the daily staff responded that under the goal of achieving profitability, the company adjusted its business and organization. The next day, Smart Vegetable Field, Retail Cloud and other businesses were not affected. Due to business adjustments and some employees have left, the company is currently actively seeking all possible solutions to ensure employee rights and interests to the greatest extent.

For the outside world, it is not surprising that every day Youxian has reached this step. Since 2021, Daily Youxian has been exposed to the arrears of suppliers. In 2021, the financial report is difficult to produce. The front warehouse business in 9 cities including Shenzhen and Guangzhou, and now it is suspended in large areas of stores across the country.

Is the daily storage mode that has always been controversial?

01 Daily fresh, cold?

July 28th is a special day for the exposure of the big freshly selected daily.

An internal conference recording from the daily employees of Daily Employees flows out. At this meeting, Xiao Yungui, the person in charge of Daily Fresh HRBP and the person in charge of the current product, said that the 200 million yuan strategic investment of Shanxi Donghui Group was still negotiating In the process, Daily Youxian has issued an announcement and filing in the SEC, but because it has not been fully delivered at present, the salary of most colleagues will be suspended before the investment funds have arrived. Methods to realize the salary of employees.

If the salary is only suspended and the funds can be explained temporarily, the statement of the publicity announcement of "social security disconnection" has attracted further doubts. Daily Outstanding Human Responsible persons announced that most employees' work as of July 28, social security and provident fund companies in July will bear it, but employees need to take care of themselves from August. Regarding some employees asked when the salary of June and July was paid, the person in charge of the manpower replied that "now it is not capable to answer."

And the daily founder Xu Zheng and the co -founder Zeng Bin, such as Zeng Bin, directly absent from the meeting. What makes Daily Fresh employees feel more angry is that the day before, employees received notifications from home office, and the reason was a variety of, including suppliers' debt collection, the company's new office for formaldehyde excessive standards, etc. Essence They did not expect that the company will notify all employees to dissolve in place at the next day, and delete their internal communication software flying books and VPN accounts.

Some employees said angrily that "it is actually a violent layoff." At present, employees have prepared to submit labor arbitration collectively.

Of course, the changes of personnel must follow the change of business.

According to reports, on the evening of July 27, the daily CEO Xu Zheng and the co -founder Zeng Bin of the Daily Fresh CEO summoned the management line of the business line or above to open an online meeting and announced the shutdown business.

On July 28, I saw that the daily excellent fresh app found that the homepage displayed a service change notice. The original 30 distribution was delivered to the next day, but the opening page still showed "the fastest 30 minutes of delivery"; The distribution column of the product detail page shows: "Because your order may be delayed due to the epidemic, it is expected to be delivered from 1-4 days."

At the same time, a number of employees have said that they have received the company notification. The daily stores of Youxian nationwide have been closed, and the update of the system level has been completed.

That night, for the "company dissolution" of the Internet, the daily public response publicly stated that under the goal of achieving profitability, the company adjusted the front warehouse business, and the next day and other businesses were not affected. "At present, only the rapids of Beijing, Shanghai, and Tianjin have been suspended. When will it be restored and whether it will be adjusted by the front position business nationwide."

But in fact, the daily fresh app is almost paralyzed. Daily Youxian APP can no longer place orders in many cities such as Beijing, Shanghai. Although the goods can also be added to the shopping cart, the page will appear "Sorry, the goods purchased in this order in the current address without goods".

And less than a month ago, Daily Youxian had just closed the businesses in 9 cities including Suzhou, Nanjing, Hangzhou, Qingdao, Shenzhen, Guangzhou, Jinan, Shijiazhuang, and Taiyuan. Langfang, of which Langfang only left a front position. The shutdown of these businesses means that the daily freshness returns to the early stage of entrepreneurship.

As Guancheng comes, the user's losing dyke is lost. According to the data of Taste Sailing, the active number of active people daily in April this year reached 13.57 million, and in June, the active number was 8.07 million. The data of two months fell by 5.5 million, returning to the average level of 2020.

Obviously, Daily Youxian has embarked on the road. Affected by this news, on the night of July 28, the daily avalanche appeared at the daily US stocks. As of the closing of the day, it fell -42.80%, only 0.135 US dollars per share, with a total market value of 31.86 million US dollars, and 99%had fallen from the IPO day.

02 Crash still has a winner

In fact, Youxian had found a life -saving money half a month ago. On July 14, the Daily Outstanding Fresh announced that it reached an equity strategic investment cooperation agreement with Shanxi Donghui Group. Donghui Group plans to conduct an equity investment worth 200 million yuan worth of RMB 200 million daily. But perhaps because it is not optimistic about the future development prospects of the daily freshness, or for other reasons, this life -saving money has not been hit on the daily fresh account as scheduled.

The outside world speculates that the daily high -level high -rise has already predicted the collapse and began to find a retreat for himself. On July 18th, the daily legal representative of Youxian changed from co -founder Zeng Bin to Sun Yuying.

Earlier, a disclosure document submitted to Nasdaq daily showed that the daily founder Xu Zheng, the founder of Daily Youxian, has moved to the Hong Kong Special Administrative Region to become a Hong Kong citizen and successfully avoiding the risk of bankruptcy.

The suppliers who are desperate as daily in despair are "debt collection". At noon today, more than 20 suppliers are rushing from Yanjiao, Tianjin and other places to the Chaoyang District Government, hoping to attract attention and strive to return to the arrears.

The daily report of the Daily Fresh 2021 shows that the net ownership of the daily unpaid supplier arrears was 1.652 billion yuan, an increase of 34%of 1.088 billion yuan from the end of the third quarter of 2020. These account payables include three categories of supply of goods, outsourcing distribution companies' freight and marketing service providers.

In the fourth quarter of 2021 and the first and second quarters of 2022, it did not improve in operation, and there was no daily freshness of financing for blood transfusion. According to "Late Latepost", the daily liabilities of Youxian are currently as high as 1.18 billion yuan.

It is understood that all shares held by Xu Zheng who moved to Hong Kong were placed in offshore trusts overseas, which means that the arrears of suppliers cannot pursue Xu Zheng's property.

I couldn't wait for the daily freshness of the life -saving money, and finally all the shareholders present were pulled out of the water, and the "Qingdao State -owned capital" who invested two years ago.

In December 2020, Qingdao Guoxin, Sunshine Venture Capital, and Qingdao Municipal Government Guidance Fund formed a joint investment entity, which had invested 2 billion yuan (about 306 million US dollars) to Daily Youxian strategy. In order to support this investment project, Qingdao City, who is full of sincerity, also gives a large piece of land daily — delineation of a land nearly 200 acres of land near Liuting Airport in Chengyang District as the construction of the daily national headquarters industry. garden. The project startup construction time is planned to be in January 2022, with a total investment of 3 billion yuan. In 2022, the investment was 200 million yuan, and the main construction was carried out. At present, more than ten companies have been registered with the Daily Flower Headquarters, and many industrial projects have been implemented.

However, with the daily freshness, Qingdao state -owned assets have undoubtedly lost money. It is worth mentioning that Qingdao State -owned Assets Original plans to invest 1 billion yuan in investment at the first investment of the first investment (December 2020). However, on May 29, 2021, Qingdao's state -owned capital gave up the right to subscribe for daily freshness.

Outside of Qingdao's state -owned assets, most of the daily fresh investors are placed in Xu Zheng's story. According to the company's investigation data, from 2014 to 2021, Nasdaq, a total of 11 financing incidents occur 11 times a day, with the largest number of fresh e -commerce companies; a total of 14.271 billion yuan in financing, the largest amount. In the 10 years of Fresh E-commerce, in April 2010-2021, the total financing was 46.34 billion yuan, and the daily Fresh one accounted for more than 30 %.

Of course, there are winners in this "squid game" initiated by Daily Fresh. As early as June 1, a daily fresh shareholders sold 14.73 million ordinary shares at one time at a market price of 10 %, successfully realizing the departure of meat.

03 Fresh Cruel collapse

In the eyes of this storm, the daily fresh front position business is undoubtedly the focus of the focus.

On the eve of "dissolution", Daily Youxian just announced the news of the position of the position before shutting down. From the perspective of the outside world, this decision is undoubtedly the daily "survival of the broken". At present, 95%of the daily fresh revenue rely on the front -position business contribution.

In the past few years, the front warehouse business has been the core of the daily fresh fresh story. The so -called front warehouse model is to send the products sent by the supplier to the city where the platform is located, and then use a refrigerator to send them to various front warehouses (small warehouse distribution centers). Stall the warehouse, and then the warehouse is responsible for picking, packing, and delivery to consumers within 3 kilometers of the store. The delivery time is more than 30 minutes to 1 hour.

Because the front warehouse mode solves the "last mile" problem faced by fresh distribution, the daily fresh fresh e -commerce track stands out, and has obtained Tencent's five -round collar and 30 % of the financing share of the entire industry.

With daily preferential samples, this star business model quickly attracted other players in the track to follow up, such as Ding Dong buying vegetables. Established in 2017, Ding Dong bought vegetables, and began to expand nationwide after finishing B+financing in March 2019. In May of that year, Daily Youxian CFO Wang Jun revealed that it was planned to invest more than 1 billion yuan to hit the Shanghai market during the year, and to start a comprehensive competition in Shenzhen, Wuhan, and Southwest China and Ding Dong. According to public reports, almost 100 billion yuan was burned in one quarter.

Behind the crazy expansion, the disadvantages of this business model have gradually begun to be revealed. Whether it is a pioneer daily, or the latecomer Ding Dong to buy vegetables, or Hema Xiansheng and other community group buyers, they have not been able to in this model. gained profit. Hema CEO Hou Yi even bluntly stated that the front position is a pseudo -proposition, and he has three reasons for negating the front positions, which are the customer unit price that is not available, the loss rate is not available, and the gross profit margin is difficult to guarantee. In his opinion, after capital coming in, it is unhealthy to fight for the market through subsidies. The supply chain reconstruction, process optimization, global procurement, and differentiated competition are the true skills of doing business. In 2021, Hema officially closed all the front warehouse business.

At present, the view of "Prophet" Hou Yi has been verified every day Youxian, and the business model of burning money for growth is not long.

From the perspective of daily freshness and Ding Dong buying vegetables, from 2018-2020, the daily freshness has lost a total of nearly 7 billion yuan, while Ding Dong bought vegetables in 2019-2021, which lost 11.48 billion yuan from 2019-2021. According to the estimated performance announcement in 2021, the daily fresh net loss is expected to exceed 3.7 billion yuan.

Under too high losses, daily freshness can only be "survive" by narrowing the scope of business. Later the track stars Ding Dong could not fight. In June, Ding Dong's buying vegetables withdrew densely from Tianjin, Anhui Xuancheng, Luzhou, and Zhongshan and Zhuhai in Guangdong. In the third quarter of 2021, Liang Changlin, the founder and CEO of Ding Dong, said that in the fourth quarter, the NON-GAAP net loss rate was further reduced.

It is worth mentioning that the dispute over the front warehouse model itself has always existed. People in the industry generally believe that although the front warehouse model solves the last mile problem, the warehousing area is small, resulting in too few SKUs, and it is difficult to meet the needs of users. Large; then, because there are no stores, the cost of getting traffic is too high.

However, the model of the model is not the only problem facing the daily freshness.

According to Li Botao, the founder and CEO of Youyouhui Technology and CEO, it is a major flaw of the daily freshness of the supply chain. "Compared with other platforms, the daily freshness rarely sells freshness, and there is no following after making a few own brands. Most brands come from dealers, indicating that the platform is not deeply cultivated in the supply chain. Using a whole system such as procurement, selection, and data analysis to create a supply chain and quality barriers to product quality. This is the lifeblood of fresh e -commerce and things under the iceberg. "

Under the overall role, the entire fresh channel is no longer favored by capital, and the daily high debt of Youxian itself has also affected the search for financing or acquisition. Some people have discussed at the business meeting that even if the price is $ 1, the daily freshness does not have the value of acquisition.

Daily Fresh collapse has become a foregone conclusion. Whether it is the model of the model or the business, each party related to the daily excellent freshness has become the victim of this avalanche.

In the daily response, this major adjustment is to "achieve the big goal of profit". The broken arm can still survive, but the profitable head is cut off. Do you survive?

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