A Generation of “Soy Milk King” Has Fallen!

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Speaking of VV Soymilk, one has to mention VV Soymilk, which is the main company of VV Soymilk. The reason for the implementation of the risk warning of VV shares is also very simple, mainly due to the occupation of the capital of the listed company by the major shareholder VV Group.


In 1989, an unknown milk powder factory in Xuzhou City merged milk and soybeans to produce a solid beverage of soy milk powder. This milk powder factory was also the predecessor of VV Group.


Once the soy milk powder was launched, it became popular all over the country. At that time, the domestic monthly salary was only tens of hundreds of yuan. A bag of the soy milk sold for about 10 yuan, and the price of a single package was up to 50,000 yuan. Drinks.


In 1992, Xuzhou Soy Milk Powder Factory confirmed the VV brand and used 100,000 yuan to buy out the special broadcasting rights of the hit drama "Aspiration" at that time. Later, it became the CCTV annual bidding king, with an annual advertising expenditure of more than 100 million yuan. . By 1997, VV Soy Milk had occupied over 70% of the soy milk powder market.


In 2000, VV Soy Milk was listed on the Shanghai Stock Exchange. In that year, its operating income exceeded 1 billion yuan, and its net profit exceeded 100 million yuan. Since then, the scale of income has grown substantially every year, but the annual profit has basically not changed. By 2006, the operating income had exceeded 3.4 billion yuan, but the net profit was only more than 70 million yuan.


Therefore, VV shares thought of "cross-border" making money.


It was originally a company that "drinks soy milk", but it has been developed into multiple businesses such as "drinking", "digging coal", "building a house" and "eating tea", but it turned out to be just like chicken feathers.


At the same time, VV's main soy milk business has also entered a period of weakness. In the past ten years, the sales of VV Soy Milk Powder have risen from 1.3 billion to 1.7 billion, which shows that the consumer market has been quite sluggish.


What's interesting is that in 2020, VV has canceled many subsidiaries and transferred Zhijiang Liquor. At the end of the year, the number of employees was as high as 3,212, which is an increase of nearly 1,300 compared to the end of last year. If you count Zhijiang The number of employees in the wine industry may increase as high as 1,700.


But what’s strange is that VV’s operating income from basically all businesses did not grow significantly in 2020, or even declined. Even in the first quarter of 2021, operating income did not show high growth, and the remuneration of employees was greatly reduced. At the end of the first quarter of 2020.

This also makes the company's per capita annual salary from 191,800 yuan in 2019 to only 98,000 yuan in 2020. After the suspected expansion of thousands of employees, all employees have reduced their salaries by 50%.

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