From cash loans to prefabricated dishes, will Luo Min's transformation failure will continue?

Edit | Yu Bin

Produced | Chaoqi.com "Yu See Column"

When Ro Min and New Oriental Yu Minhong were placed in an analogy in a discourse system, our minds would inevitably think of the word "dream linkage", and this incident really happened recently.

Recently, Luo Min, CEO of Qudian, opened the transformation and live broadcast of his own dishes on Douyin. He pressed "himself" to the new track to transform. He may consider that the situation is similar to Yu Minhong, so he involuntarily stabbed Yu Minhong. In the heat, he said that the transformation work he is doing now is "the same as Teacher Yu in New Oriental."

It should be pointed out that, as a listed company, it is similar to the performance of the new Oriental before the performance of the live broadcast and the goods. It is well known that since the cash loan business has been frustrated, it is either transformed or on the road of transformation, but none of other businesses can be seen.

Now, Qudian has aimed at live broadcasts, and it is still the prefabricated vegetable industry in recent years. Can this help Qubian solve the new hope of development and find future development?

Fun Store is in trouble

After the "original crime" that was issued due to campus loans and was not washed off, the cash loan business of Qudian's main business continued to face huge challenges. In recent years, the scale of Reading has continued to reduce the scale of revenue, and the company's market value has also been at a low point for a long time.

According to the latest quarterly financial report data of Qudian's latest 2022, the company achieved a total revenue of more than 200 million yuan in the quarter, a significant decline of more than 60%compared to the same period last year; At 143 million yuan, it is necessary to know that Qudian still had a net profit of 478 million yuan in the same period last year.

From the perspective of the specific business, almost all the business of Qudian is facing a comprehensive narrowing. From these data, we can see why the company CEO Luo Min has to discover a new track like prefabricated dishes. No way, the existing business is not easy to do.

Take the first quarter of 2022 as an example. In the quarter, Qudian encountered a situation where the main financial and credit business development was unfavorable. The total transaction of this business in the season was 2.1 billion yuan, which was nearly 30 % compared to the same period last year. With up to 1.5 billion yuan of underain loan data.

In other business areas outside the main financial and credit business, the performance of fun shops is equally average.

Among them, its financing revenue in the first quarter was 178 million yuan, a significant decline of more than half a year -on -year; loan facilitation income and other related income were "poor". In revenue, there are only 500,000 left in the first quarter of this year, which can be ignored; there is still a significant decline in trading service fees and sales revenue for millions of revenue.

It can be seen that for the fun shop that is famous for its cash loan business, this business no longer allows the company to achieve sustainable development, and the fun shop itself knows this.

What's more serious is that Qudian seems to be gradually abandoned by investors. It must quickly find new business hope in order to boost the stock market's expectations for it.

In May of this year, it received a delisting warning from the New York Stock Exchange because the company's stock price was lower than one dollar for a long time. Although the stock price has increased since then, it is still at a low level.

As of the close of July 15, the stock price of Qudian was closed at $ 1.190 per share, which was still very close to $ 1, and the company's total market value was only US $ 300 billion. When it was just listed in 2017, its stock price was as high as $ 24 per share, and more than 90 % of the market value evaporation data has already explained everything.

You know, even if such a limited stock price increase, thanks to Luo Min's prefabricated dishes live broadcast and bring the goods "business", which shows that the actions of the market for the prefabricated market for the market are still watching. If you really get recognition, you must prove yourself with real achievements.

In retrospect, Luo Min’s arrogance is just when you just landed in the capital market. Now the fun shop is just like New Oriental in another industry. It may not be trying to try the prefabricated vegetable industry, but to treat prefabricated dishes or other new businesses as the future of the company's future. The main direction of survival and transformation.

Continuous transformation, continuous failure

The good news is that, from the perspective of Luo Min's importance of prefabricated dishes live broadcast and cargo, Qudian seems to have found a new track that allows himself to broaden the broader market space. Essence

The bad news is that from the past transformation and continuous experience of failure, the success rate of the fun shop is not high.

Over the years, considering that the cash loan business of Fun Store has suffered a long time at the level of supervision and public opinion, it has been trying to try a diversified layout very early, and the idea of ​​the layout is very "simple and rude", which is chasing the present. Popular industries, then crazy money.

At the end of 2017, Qudian launched a Dabai car project that attracted great attention, and wanted to expand through the popular model of car rental+financial services. As a result, Qudian opened the development model of crazy expansion, and it opened a large number of stores nationwide in a short period of time.

But we all know later. Because I saw that the investment was not obtained, the business model of the new project did not run at all. After less than two years of high -profile, Dabai Automobile announced its failure.

There are also "interesting learning" launched by online education, the "only spectrum" in the field of housekeeping, the "same Same" in the social field, and cross -border luxury e -commerce "Wanli Mu". But none of these projects could not escape the strange circle of "thunder and heavy rain." Taking advantage of the high -profile east wind of the industry, they have been depressed or existing after the industry's cooling or the company's own dilemma, and Qudian has gained a bad reputation that can not do anything.

So, can the latest prefabrication attempt bring some new hope to the fun shop in the abyss?

In recent years, the prefabricated vegetable market has become a well -deserved air outlet project. The imagination space and development potential of this track have been recognized. Many cross -border giants are participating in the Nuggets of the prefabricated dishes.

However, as a cross -border player who can't fight with the eight poles of catering, consumers have sufficient reasons to report on doubtful eyes.

In mid -June, when Luo Min appeared in the live broadcast room for the first time, he received a sales of more than two million yuan on the first day, and received less than two million sales on the next day. This data is more or less.

It is just for the field of prefabricated vegetables, people are more concerned about whether Fun Store can truly solve the pain points of consumers and accumulate industry advantages. The probability of this new field will be badly played by fun shops.

As a new air outlet in the new catering industry, it is not as simple as everyone imagined to make prefabricated dishes. It requires players to establish an advantage in the dimensions of supply chain production and cold chain distribution. Considering that these fields want to establish industry barriers, heavy investment is essential, which is the primary pressure for interesting shops that are not very good at present.

Is it rich? How long can it continue to invest? Will the market recognize if there is no enough investment? All kinds of problems are testing it.

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