China Food

The new beef retail brand “niudaji” completed 100 million yuan of a + round financing, led by Shenzhen bear capital, and Xianfeng participated in three consecutive rounds of investment


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this is a potential track that entrepreneurs look forward to.  
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On March 18, niudaji, a new beef retail brand, announced the completion of 100 million yuan a + round of financing, led by Shenxiong capital, followed by Xianfeng Changqing, an old shareholder, and Chunjian capital as the exclusive financial adviser. Wu Haijin, founder of Niu Daji, said that this round of financing will be mainly used for brand construction, supply chain construction and system digitization construction. Prior to this, Niu Daji had obtained two rounds of financing, including amoeba and Xianfeng Changqing.  
Zhang Haichun of Shenzhen bear capital said that Niu Daji’s founding team has worked deeply around the category of beef for many years. In order to find out the industry, the founder has raised cattle in person and has a deep understanding of offline retail. “I have known the founder for nearly a decade and have maintained close cooperation during this period. He has performed very well in trend judgment, team management and shaping corporate values. Niu Daji has only had a few stores at first, but now the products and services provided to consumers around the community ecology are getting better and richer. Shenxiong capital firmly believes that Niu Daji is expected to become China’s McDonald’s.”  
Xie ran of Xianfeng Changqing said that beef is a high growth just need category. Niu Daji has the opportunity to become the leading brand of this category through high-quality and innovative products and standardized and systematic management mode. “Niu Daji also gathered a group of highly effective Niu people and top partners. As an old shareholder participating in three consecutive rounds of investment, Xianfeng looks forward to Niu Daji’s continuous breakthrough and bringing better nutritional choices to Chinese families.”  
Founded in 2018, Niu Daji has opened nearly 200 directly operated community new retail stores in Shenzhen, Guangzhou, Foshan, Guiyang and other cities. According to Wu Haijin, Niu Daji’s revenue in 2021 was 100 million yuan, and this year this figure will rise to 1 billion yuan. The tenfold increase in revenue is due to the self upgrading of the brand: since last year, Niu Daji has launched a version 2.0 beef workshop, which not only provides consumers with fresh beef, but also provides prefabricated and finished dishes such as stewed beef, freshly roasted beef jerky, freshly cooked beef offal, beef fried string, beef pineapple bun, beef belly noodles and so on – Wu Haijin said that Niu Daji will not only be a beef retail store, but also a central kitchen in the community.  
Wu Haijin introduced that all of the more than 100 niudaji stores (i.e. version 1.0) previously established will be transformed into beef workshop stores through 2.0 transformation. Upgraded from 1.0 to 2.0, the revenue of each store increased tenfold simultaneously, thus supporting Niu Daji’s goal of 1 billion revenue this year. Wu Haijin said that Niu Daji’s development plan this year is to increase the number of stores to 300. If the development goes smoothly, then this means that Niu Daji’s revenue data this year will be or more than this.  
Wu Haijin and Niu Daji are more ambitious – WanDian for eight years. Wu Haijin said that at present, Niu Daji is opening beef workshops in South China at the rate of 30 to 50 per month. With the accumulation of experience and the maturity of development model, the later speed will be faster. “Opening 10000 stores in eight years is a relatively conservative statement. If we do well enough, it may be faster.”  
The beef market has a scale of over 800 billion, and the community is the nearest retail channel to consumers
Compared with other main meats, beef belongs to high-quality meat with high protein and low fat, and has high nutritional value. With the improvement of people’s living standards, beef appears more and more frequently on the table. Public data show that China’s beef industry has developed rapidly and has become the third largest producer and second largest consumer of beef in the world. In 2021, China’s beef consumption exceeded 9 million tons, the size of the beef market exceeded 800 billion, and maintained a market growth rate of about 11% per year. At the same time, China’s per capita beef consumption has been growing and has reached 6.58 kg, but it is still lower than the international per capita consumption of 8 kg.  
Obviously, this is a potential track that entrepreneurs look forward to.  
Wu Haijin said that although the beef track has a huge market scale, the upstream and downstream of the industry are very scattered, so it has the possibility of Internet integration, “so this is naturally a good track.” Niu Daji will also use the Internet to reverse integrate the upstream breeding end in the future, Wu Haijin said. However, in terms of the current development stage, Niu Daji is focusing on the downstream retail end.  
He said that although Chinese people’s consumption of beef is increasing, this consumption behavior itself is quite random. We don’t deliberately “have to eat beef today”. We happen to pass by and buy it when we see it. It doesn’t matter whether we don’t buy it or not.  
“We began to think about how to provide beef to consumers more directly and efficiently. For the fresh beef category, e-commerce and supermarkets are not the best channel choice. We should establish the retail channel nearest to consumers.” Wu Haijin said.  
Finally, Niu Daji’s answer is community retail. Wu Haijin said that in the south, the bottom commercial state of the commercial housing community is mature and the types of goods are rich. “We don’t have to go to the supermarket or the farmers’ market. We can buy fresh food downstairs, so the bottom business downstairs has a natural flow advantage.”
He further said that the community can accommodate very large-scale store business, and the ten thousand store model can be built in the community. There are 150000 commercial housing districts in China, including 1500 in Shenzhen. Obviously, the more cells covered, the more users covered, but that doesn’t mean Niu Daji wants to open a shop in every cell. Because in terms of site selection, Niu Daji did not spread the net widely, but established a set of effective data model internally.  
According to Wu Haijin, Niu Daji will conduct field research in the community and open a store in each community with more than 2000 households. The beef in the store comes from pastures such as Ningxia, Inner Mongolia and Guizhou. After cutting off various transaction links in the middle, it is directly transported to the local area, slaughtered in the early morning and sold on the same day. “If we can’t sell out that day, we will process it into beef products such as stewed beef. Therefore, Niu Daji basically has no problem of product loss.” Wu Haijin said.  
At present, in addition to fresh beef, niudaji’s four most popular fist products are stewed beef, curry beef pineapple bag, roasted beef dry bar and Guangzhou beef miscellaneous cup. According to Wu Haijin, a new type of stewed beef will be launched in the near future.  
Niu Daji is a company that attaches great importance to product research and development. Dozens of products are developed at the same time every month, and the gray test method commonly used by Internet companies is adopted. “For each new product, we will first test it in three or five stores. If the product is popular, we will copy it to 20 stores, then copy it to 100 stores, and so on. If the product is not popular, we will eliminate it. Our product R & D model is all based on consumer feedback.” Wu Haijin said.  
This emphasis on new product development stems from Niu Daji’s business mission: to make Chinese people love eating beef. “Our slogan is” eat beef every day to strengthen the Chinese people “, which is to make everyone eat more beef.” Wu Haijin said, “We spend so much effort on new product research and development to make Niu Daji into a central kitchen in the community. For many young people, cooking is actually difficult, so we help them prepare it. This is actually another answer to prefabricated dishes. For example, if we used to drive a manual car when cooking at home, we now turn it into automatic gear or automatic driving, making it very, very simple.”  
The stores are constantly innovating themselves (upgrading from 1.0 to 2.0), and the products are constantly innovating, behind which is the growing team. Wu Haijin said that in terms of team building, Niu Daji adopted the model of “building a nest and attracting Phoenix.” we are very clear about what kind of talents we need, and then we will decisively look for talents with similar aspirations. ”  
Believe in the Internet and find new opportunities for the Internet
Before founding Niu Daji, Wu Haijin raised cattle in Guizhou for two years. Earlier, he worked in Ketong core city and deeply participated in the entrepreneurial process of hard egg technology, its technology incubation platform. When he joined Ketong core city, he had not graduated from college in 2013, but he clearly knew what he wanted. During college, he has been tossing and starting a business. He has worked as a social networking website and an e-commerce website. When asked “did you make money?” Unlike countless cases of College Students’ entrepreneurial failure, he smiled and said, “it’s OK.” Then he repeated, “it’s OK at that time.”  
He still clearly remembers how to concentrate the digital product supply chain of Shenzhen Huaqiangbei into his own hands when doing e-commerce websites, and then go to develop digital stores and mobile phone stores in Changsha. “This is to let these small businesses bypass the local market. Every city has a digital market, Zhongguancun in Beijing, Huaqiangbei in Shenzhen and Baonan street in Changsha.” Wu Haijin said.  
  
At that time, the college student under the age of 20 was addicted to Internet entrepreneurship, but don’t take it for granted that he studied computer. In fact, his major was material science. He said that the material science major of Central South University is among the top in China. “The tutors are very good scientists introduced from abroad. But my real feeling at that time was that their level was so high that it was difficult to make great scientific research achievements, and I was not the material for scientific research.” Wu Haijin said that entrepreneurship in the Internet field stems from his belief in the Internet.  
Born in 1991, Wu Haijin’s growth track is almost synchronized with the development track of China’s Internet. In early 1996, China’s first Internet company erected a huge billboard on Zhongguancun South Street in Beijing, saying “how far are the Chinese from the information highway? 1500 meters north” – almost every book on the history of China’s Internet can’t get around this advertisement. In the following few short years, China’s Internet has rapidly developed from a single spark to a prairie fire. Netease, Sina, Sohu, Tencent and other famous companies have been established in the future and listed successfully soon. Despite the emergence of the Internet bubble, this does not prevent Ding Lei, founder of NetEase, as China’s richest man in 2003. Later, teenage Wu Haijin should have seen the news of “the richest Ding Lei to raise pigs” in the news.  
After more than ten years of development, the Internet has opened the door for people to understand the world, and Wu Haijin grew up with this wave. When he went to college, PC Internet declined and mobile Internet rose. He believed that the Internet could change the world, so he threw himself into it and found his place.  
Mobile phone was always mobile. It’s sure to come out of the mobile phone, but I don’t know where to go. Now everyone is talking about Internet plus, industrial Internet, but at that time, there were no such concepts. I can’t think of the answer. I’ll go to the market to find out those companies with partial industries and Internet practices to talk to their boss. As for how to make an appointment with the other party’s boss, Wu Haijin thought it was a very simple thing. “There are many ways, such as sending private messages on Weibo.” In short, the young man with strong action went to the Pearl River Delta with developed manufacturing industry and talked about many companies.  
Later, he saw a report about Ketong core city in the media. As an electronic component trading platform, the turnover can reach several billion. “Very good. I was very curious about how they did it, so I ran to talk to them, and I said I wanted to join.” Wu Haijin said that he didn’t understand the traditional business model when he was a child of e-commerce. I didn’t think it was good for them to change their business model after graduation
Later, as the earliest member, Wu Haijin deeply participated in the development of hard egg technology, the technology incubation platform inside Ketong core city, and deeply participated in dozens of incubation projects. In this process, he saw successful enterprises, “but most of them died”. During that time, he saw the life and death of many companies intensively, which deepened his understanding of entrepreneurship. His heart, which had been tossed about entrepreneurship, began to agitate again.  
Set great ambitions, President Lu Li makes a hole and makes a hole
Wu Haijin never stopped thinking about the question of “where will the Internet go”. Based on his working experience in hard egg technology, he knows that intelligent hardware is a place to go. Is there any other place to go? At that time, with the same frequency as Wu Haijin’s idea, the concept of industrial Internet began to appear. “I want to find an industry and use the Internet to do it.”  
Soon, he followed two conditions to start industry research: the industry is large enough and has the opportunity to be Internet-based, and the industry must be dispersed at both ends of the upstream and downstream. With the deepening of research, industries that meet these two conditions gradually emerge: beef industry.  
This is a 100 billion market, and the annual market growth rate is very fast (as mentioned above), and the upstream and downstream of the industry are extremely scattered. “There are almost no ranches in the upper reaches. They are all small and medium-sized ranches. After the cattle are sold to calf dealers, and then the calf dealers sell them to the big cow dealers. The big cow dealers transport the cattle to the city’s slaughterhouse, then sell them to the meat dealers, and finally sell them to the agricultural batch market. After so many links, the beef finally completes the whole process from pastoral breeding to urban consumption.” Wu Haijin introduced.  
In order to have an in-depth understanding of the beef industry, Wu Haijin’s practice is “simple and rough”: he runs to Guizhou to raise cattle. Actually raised cattle for two years. Wu Haijin said that the harvest in these two years was huge. “I found out the upstream of the industry. I also did a lot of research and compared with my peers. Now you see that Niu Daji has a good relationship with many ranches in China. In fact, we established a deep friendship at that time.”  
 
After taking root in this industry, Wu Haijin made many commercial explorations and attempts around beef, and finally found that the potential energy of retail is the largest. “Beef doesn’t have a particularly good retail channel, so we focus on developing in this field, starting with opening a lot of community stores.”  
In 2018, Niu Daji came into being.  
Now, in the past four years, Niu Daji’s development momentum has not decreased, and the speed of opening up territory is faster than planned. But entrepreneurship is never achieved overnight. “There are difficulties every day,” said Wu Haijin, who respected the business philosophy of “making every effort and making every profit.” what we do is not opportunistic or eager for success, so we have always been in a very calm state. ”  
Wu Haijin’s understanding of entrepreneurship is “set great aspirations, President Lu”, “your ambition should be big enough, believe in it enough, and make enough efforts for it. We don’t think about what will happen if we fail at all, what we want is to realize it steadily.” Wu Haijin said that this is a process of “unity of knowledge and practice” and wrote it into the “Fourteen articles of corporate philosophy”: unity of knowledge and practice is king, and non unity of knowledge and practice is waste.  
“Niu Daji’s” ambition, President road “is very similar to Buffett’s” Changpo thick snow “. Changpo is the president road and” thick snow “is ambition. There will be great returns waiting for us ahead. The market is changing rapidly, but we will always keep a firm direction.” Wu Haijin said.  
Original title: Chunjian transaction – beef new retail brand “niudaji” completed 100 million yuan a + round financing, led by Shenzhen bear capital, and Xianfeng participated in three consecutive rounds of investment
Author: Hao Dexiu; Source: Chunjian capital (ID: chunjianziben), reprint has been authorized. Reprint authorization and media business cooperation: Amy (wechat: 13701559246); Foodaily Expo 2022] in line with the original intention of providing the whole value chain and one-stop industrial innovation services for the industry, foodaily Expo 2022 (2022.05.31-06.02, Shanghai) is further upgraded. In addition to the upstream and downstream of the food industry, it also covers and gathers multiple resources such as e-commerce, social media, traffic, channels and capital, aiming to bring you an annual innovation feast. Here, products, content, technology, marketing and other aspects related to food & brand innovation will be presented in the form of “professional exhibition + innovative content + interactive experience”, breaking through and differentiating in the consistent form of industry exhibition.

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