“Investor Net” Jordan
On June 6th, on the black cat complaint, a large number of complaints against Yonghui Supermarket (601933.SH) online shopping platform Yonghui Life APP suddenly emerged, referring to the launch of Yonghui Life APP on June 5 The live broadcast activity of 10,000 people who purchase wine for 999 yuan and get 1499 yuan to purchase Feitian Moutai is suspected of “false propaganda” and “deceptive consumers”, and induce consumption through “false” Moutai purchase qualifications. According to the rough statistics of “Investor Net”, more than 240 people have complained about the live broadcast event. If the minimum consumption is 999 yuan, the amount involved in this part of the consumption is more than 240,000 yuan. This is the second time that Yonghui Supermarket has been criticized by consumers for Moutai related issues this year. In addition, Yonghui Supermarket has also frequently reported food quality problems recently, which has once again triggered a crisis of consumer trust.
The investors in Yonghui Supermarket were also stinged. As of the close on June 11, 2021, Yonghui Supermarket closed at 5.32 yuan per share, and its market value has fallen by more than 20 billion yuan from its highest point since the beginning of this year. In fact, including chairman Zhang Xuansong, Yonghui Supermarket has actively implemented practical actions such as increase in holdings and repurchase to maintain the stock price this year, but it does not seem to bring confidence to the market. “In the embarrassing situation, many investors rushed into the market to increase their shareholding and repurchase, but they were deeply involved. Under this circumstance, investors on the interactive platform began to question Zhang Xuansong’s “left and right hand” behavior. Although Zhang Xuansong increased his holdings of 150 million shares through concerted actions recently, after several operations, he finally held The number of shares of some has decreased by 340 million shares from before the announcement of the increase in holdings.
Consumers accused of “flicking” with Moutai
The above live event was hosted by Yongyuehui Winery, which specializes in high-end liquors under Yonghui Supermarket, and was carried out on the Yonghui Life APP, starting at 18:00 on June 5th. The rule of the event is to purchase 999 yuan of drinks during the live broadcast, and the top 10,000 will be eligible to purchase a 500ml bottle of Feitian Moutai 53 degrees for 1499 yuan. ,
Screenshot of Yonghui Life APP live broadcast
However, according to Black Cat’s complaint, many consumers believe that they have met the conditions, but Yonghui Life APP refused to redeem Moutai coupons.
The user with the ID name “xlli2012” stated in the black cat complaint that he paid at 18:04 and completed an order of 1096 yuan, and the anchor also claimed that there were 2000 people remaining at around 18:06, and Emphasize that consumers who pay before 18:05 are eligible for Moutai coupons. However, until the end of the live broadcast, xlli2012 did not receive Moutai coupons. It asked the customer service. The other party said that due to the hot buying, there was a serious system delay in the payment of the order at the beginning of the event, resulting in delays in the actual ranking broadcast. The display shall prevail, and the coupon will not be renewed if it is not obtained, and the originally purchased drinks are not allowed to be returned. Regarding the situation encountered by itself, xlli201 stated in the complaint that the Yonghui Life APP “deceived customers and made false sales.”
User complaints about live events on Yonghui Life APP. Picture source: Black Cat Complaints
The experience of other complainants is similar to that of xlli2012. They all stated that the payment was completed before the anchor claimed that there were 2,000 places left, but without exception, they did not receive Moutai coupons. The consumer with the ID name “秦Qin岭Lin” said that he successfully paid at 18:04:50 but was not eligible to buy Moutai, while those who paid at 18:08 and paid at 18:11 both purchased For Moutai qualifications, “Qin Qin Ling Lin” was very puzzled about this and asked Yonghui Life APP to “disclose the top 10,000 information and fulfill its promise!”
User complaints about live events on Yonghui Life APP. Picture source: Black Cat Complaints
The rules of the above live broadcast show that the first 10,000 users are satisfied with the “payment completion time”. Why is Qin Ling Lin who paid at 18:04 is not in the top 10,000, but at 18:08 and Are consumers who paid at 18:11 in the top 10,000? In this regard, “Investor Net” tried to contact Yonghui Supermarket to find out the situation, but the other party did not reply.
In response to the above situation, Ding Mengdan, a lawyer at Beijing Yingke (Hangzhou) Law Firm and a special researcher of the E-commerce Research Center of Net Economics, told Investor.com, “Yonghui Life APP provides purchase qualifications to consumers who meet the shopping conditions of 999 yuan. , In order to achieve a competitive advantage by selling goods and gaining traffic, it is a rewarded sales behavior. And Yonghui Life APP should clearly announce the participation conditions, participation methods, qualification redemption time, redemption methods and other information before the reward sales. Before the live broadcast event In the process, Yonghui shall also publicize these contents in a timely manner to ensure the timeliness, effectiveness and accuracy of the live broadcast.”
In addition, if the live broadcast personnel are inconsistent with the real order data and subscription qualification exchange in the background during the oral broadcast process, they should promptly adopt other methods to publicize the list of users who have redeemed qualifications. However, if Yonghui false propaganda, fictitious qualifications and exchange quantity, time, etc., it may be suspected of false propaganda, and its behavior is regulated by the “Anti-Unfair Competition Law” and “Interim Regulations on Regulating Promotional Behavior”. Ding Mengdan added to “Investor Net.”
According to Black Cat’s complaint, the appeals of the 240 consumers mentioned above have been responded to by Yonghui Supermarket. The content of the response has not been made public, and the progress of the complaint of a small number of people has been completed. Although Yonghui Supermarket quickly responded to the demands of these consumers on the Black Cat complaint, it triggered a crisis of trust among some consumers. This is not the first time that Moutai was overturned in Yonghui Supermarket. In March of this year, Beijing Commercial Daily reported that many consumers placed an order on the Yonghui Life APP to buy 53-degree Flying Moutai, but they were told that they could not pick up the goods at the time of delivery. No refunds, questioned Yonghui Supermarket’s “use of Maotai powder”.
Frequent quality problems have seen a significant decline in market value
At the same time, Yonghui Supermarket has been repeatedly named by the supervision and management for food quality problems this year.
On June 1, the Shaanxi Provincial Market Supervision Administration issued a notice on the unqualified 9 batches of food on its official WeChat account. The notice stated that 441 batches of samples of 11 categories of food were inspected for food safety supervision. 9 batches of samples of 5 categories were unqualified, and illegal use of prohibited substances, excessive veterinary drug residue limits, and illegal use of prohibited veterinary drugs were detected, and the quality was not up to standard. The problem of excessive use of food additives. The food sold by the two branches of Shaanxi Yonghui Supermarket Co., Ltd. (hereinafter referred to as “Shaanxi Yonghui”) has been on the “black list.” Among them, one batch of sulfonamides (total) and trimethoprim sold by Guangshun free-range black-bone chicken sold by Shaanxi Yonghui Xi’an West Chang’an Street Branch did not meet the national food safety standards; Shaanxi Yonghui Hanzhong Xixin Street Branch The sold ice wing root (food category: chicken), a batch of volatile basic nitrogen does not meet the requirements of national food safety standards.
Since the beginning of this year, Shaanxi Yonghui has been named by the regulatory authorities many times. Searching on the WeChat official account of the Shaanxi Provincial Market Supervision Administration with “Yonghui” as the key word, you can find that in addition to the June announcement, it was reported on February and April this year. The food non-conformity notices in January and May are on the list. According to the company’s inquiry, Shaanxi Yonghui is a wholly-owned subsidiary of Yonghui Supermarket.
Image source: WeChat public account of Shaanxi Provincial Market Supervision Administration
In addition, according to People’s Daily Online, in the first quarter of this year, Yonghui Supermarket had 15 batches of unqualified foods in Fuzhou, Putian, Longyan and other locations in Fujian. The number of unqualified product inspections reached 8 times, and the unqualified items of the random inspections involved ofloxacin, enrofloxacin, cadmium, etc.
Yonghui Supermarket, which is plagued by negative news, also suffered a sharp setback this year. In the first quarter of this year, Yonghui Supermarket’s revenue was 26.3 billion yuan, down 9% year-on-year; net profit was 23.32 million yuan, down 98% year-on-year. The stock price has also begun to drop, and the market value has been shrinking. In order to maintain the stock price and increase investor confidence, Yonghui Supermarket announced on November 4, 2020 that it will repurchase at a price of no more than 2.7 billion yuan in a bidding transaction. The company shares 150 million-300 million shares. Affected by the positive repurchase, Yonghui Supermarket’s share price rose 4.13% the next day to close at 8.12 yuan per share. The announcement of the company’s chairman Zhang Xuansong’s shareholding increase was issued on February 2, 2021. He plans to increase his holdings of the company’s shares by 75 million to 150 million shares within the next six months, at a price not exceeding 9 yuan. On the day of the announcement, the company’s stock price rose 5.97% to close at 7.28 yuan per share. However, it can be seen from the longer-term stock price trend that the company’s repurchase plan did not bring about a continuous rise in the stock price, but showed a general downward trend.
Yonghui Supermarket’s repurchase plan was announced on May 22, 2021. The company spent a total of 2.69 billion yuan to repurchase 390 million shares. Zhang Xuansong’s shareholding increase plan was announced on June 3 and completed. People acting in concert increased their holdings of 150 million shares of the company through bidding transactions. At this time, Zhang Xuansong and people acting in concert held a total of 1.557 billion shares of Yonghui Supermarket, accounting for the total. 16.3% of share capital. As of June 3, the company’s repurchase and shareholding plan came to an end. At this time, the stock price had fallen from a high of 8.12 yuan before the repurchase to 5.58 yuan. As of the close on June 11, the company’s stock price closed at 5.32 yuan per share.
The stock price continues to decline, and many investors questioned the company’s chairman Zhang Xuansong’s behavior of “hands on each other” and “selling high and buying low” on the interactive platform. The question stems from the company’s announcement on the completion of an internal equity transfer plan announced on June 3rd. Due to family asset planning needs, Zhang Xuansong has internally transferred the 350 million shares he owns to persons acting in concert through a block transaction. , Namely Xishirun Herun private equity fund product. According to the company’s inquiry, the investor of Xishirun’s private equity fund products is Shanghai Xishirun Investment Management Co., Ltd., and the majority shareholder Han Chun, who holds 80% of the company’s shares, is also associated with a company called “Beijing Sequoia Yade Equity Investment Center (Limited) Partnership)” company (hereinafter referred to as “Beijing Sequoia Yade”), and Zhang Xuansong holds 1% of the shares of Beijing Sequoia Yade.
After the above-mentioned equity changes, the total shareholding ratio and number of Zhang Xuansong and the concerted person Xishirun Herun private equity fund products have not changed, while Zhang Xuansong’s own shareholding has dropped from 1.407 billion shares to 1.061 billion shares. It also dropped from 14.79% to 11.16%. In addition to the 150 million shares previously increased, Xishirun Herun Private Equity Fund products currently hold a total of 490 million shares of Yonghui Supermarket, accounting for 5.2%.
It is worth noting that according to the announcement made by Yonghui Supermarket on June 8, Zhang Xuansong intends to continue to increase his holdings of the company’s shares by 150 million yuan to 300 million yuan in the next six months. On June 9, Yonghui Supermarket closed up 0.33. %, it closed down 0.74% on June 10. Regarding whether the shareholding increase plan in the next 6 months will continue to be implemented by Xi Shirun Herun private equity fund products, which are acting in concert? “Investor Net” sent a letter to Yonghui Supermarket for verification, but no response was received. (Produced by Thinking Finance)■
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