with the evolution of transportation lines, Dezhou braised chicken has moved to the country. Now, with the “national trend”, the hundred year old brand is fragrant in the world, and Cui guihaikou’s listing goal is also close.
How charming is a grilled chicken?
Over the past ten years, the sales volume of Dezhou braised chicken has increased from 50million yuan to 720million yuan, and the profit has increased from insolvency to 120million yuan.
Guanchao new consumption learned that Shandong Dezhou braised chicken Co., Ltd. (hereinafter referred to as “Dezhou braised chicken”) has submitted a prospectus to be listed on the main board of Shanghai Stock Exchange, raising about 758million yuan.
No chicken can leave Texas alive. Even Kangxi once praised it as “the first wonder in China”. From folk to imperial dining room, it has been spread for hundreds of years. Dezhou braised chicken is not only the local golden card, but also a delicious memory in the hearts of generations.
The scenic Dezhou braised chicken has also been in trouble, but with the advent of the national tide era, hundred year old brands continue to innovate, fully touch the Internet and embrace young people, coupled with policy support, ushered in a rare development window.
Breakthrough of “Internet celebrity” Dezhou braised chicken
Dezhou braised chicken has a history of more than 300 years and is known as “the first chicken in China”.
Boil over high fire and stew over low fire. The heat should be martial arts first and then martial arts. Martial arts are orderly. This is why grilled chicken is called “grilled”. Hanging chicken, feathering, shaping, coloring, stewing… An authentic Dezhou braised chicken goes through 14 rigorous processes from live poultry to finished products. Recycle the old soup, select eight delicacies and eight flavors according to the ancient method, and cook it for 16 hours until the bones and meat are separated and the aroma enters the bones.
The crisscross railway lines are like today’s social networks. With the opening of the Jinpu railway and Shide railway, Dezhou braised chicken has entered a prosperous period. It is easy to carry, salty and fresh, and delicious. As a result, most tourists passing through Texas will buy one to enjoy.
With the train tracks and the footsteps of passengers, Texas grilled chicken went all over the country.
Lao she wrote in the prose collection “coming from afar”: “Mr. Wang can’t fall behind, fighting battles, practicing American football, playing big fists, opening a path of blood, and heading straight for the roast chicken. Mr. Wang runs over, and others run over, and the chicken seller can’t serve it with any longer hands. The killing sound is loud, impassioned, and don’t eat the roast chicken. Why are you a man? Mr. Wang grabs one, and if you don’t grab it, you’ll never get it. Grab it and eat it, alas, delicious, Texas roast chicken, especially in the sky It’s really wild before dawn! “
For a long time, Texas grilled chicken occupied the top of the train food chain. The journey was long and arduous. At the moment of entry, Dezhou grilled chicken fermented into delicious food on the tip of the tongue. Many people remember that the best Dezhou grilled chicken was tasted on the train.
At first, hawkers only set up stalls on the platform to sell Texas braised chicken. As soon as the train stopped, a large number of passengers rushed down to buy it; Later, the peddlers simply peddled in the carriage with baskets; Later, train attendants peddled carts in each carriage for many times.
It is reported that around 1990, each grilled chicken sold for sevenoreight yuan, and the Hawker’s income was as high as several thousand yuan a day, which shows the popularity of Texas grilled chicken.
Although it is well-known outside, there are many producers of Dezhou grilled chicken, among which Dezhou grilled chicken Co., Ltd. is the most well-known. Its predecessor is Dezhou food company, which was founded in 1953.
With the ups and downs of history, Shandong Dezhou braised chicken group has also experienced many changes: in 1956, it realized public-private partnership and established a Chinese food company, Shandong Dezhou company; In 1999, Dezhou braised chicken was restructured from a state-owned enterprise to Shandong Dezhou braised chicken group Co., Ltd., completing the reform of the property right system; In 2006, the registered trademark of Dezhou braised chicken was recognized as a time-honored brand in China.
Capital has long paid attention to Dezhou braised chicken. In 2012, Tiantu capital and illuma capital invested nearly 100 million yuan in Dezhou braised chicken; In 2016, mochishan venture capital injected round B financing funds into Dezhou braised chicken.
At the launch ceremony in January 2020, cuiguihai, chairman of Dezhou braised chicken, once proposed that “in the next decade, Dezhou braised chicken should become a 10 billion market capitalization company with annual sales of 5billion yuan and profits of 800million yuan.”
Sold 720million a year, with braised chicken contributing 60%
With the evolution of transportation lines, Dezhou braised chicken has moved to the country. Now, with the “national trend”, the hundred year old brand is fragrant in the world, and Cui guihaikou’s listing goal is also close.
At present, Dezhou grilled chicken is mainly engaged in the R & D, production and sales of stewed food, mainly grilled chicken products, supplemented by other cooked meat, and the operation of food supermarkets in Dezhou City, Shandong Province. The main products are high-quality stewed products such as grilled chicken and cooked meat, supplemented by leisure stewed products such as chicken feet, wings and gizzards.
According to its prospectus, the total revenue of Dezhou braised chicken from 2019 to 2021 was 687million yuan, 682million yuan and 720million yuan respectively; The net profits attributable to the parent company were 122 million yuan, 94.5592 million yuan and 120 million yuan respectively, and the net profits attributable to the shareholders of the parent company after deducting non recurring profits and losses were 101 million yuan, 110 million yuan and 112 million yuan respectively.
The income of Dezhou grilled chicken mainly comes from grilled chicken products. Specifically, from 2019 to 2021, the revenue from grilled chicken products was 458million yuan, 438million yuan and 478million yuan respectively, accounting for 67.22%, 64.66% and 66.79% of the main business revenue respectively.
Among them, in 2021, Dezhou braised chicken expanded its existing and new markets, and strengthened the promotion of various channels. In 2021, the sales volume of grilled chicken products was about 7600 tons, with an increase of 6.28%.
But the regionality of Dezhou braised chicken is very obvious.
Geographically, more than 80% of the income of Dezhou braised chicken comes from East China (including Shandong, Fujian, Jiangxi, Shanghai, Jiangsu, Anhui and Zhejiang). During the reporting period, the revenue of East China was 575million yuan, 558million yuan and 578million yuan, accounting for 84.25%, 82.27% and 80.69% respectively.
Dezhou braised chicken also said in the prospectus that its product sales are still dominated by Dezhou and surrounding areas in Shandong Province. Although the company has set up direct stores or sales agencies in Beijing, Qingdao and other cities, and plans to continue to promote products to the whole country, due to the limitations of production capacity and capital, the company’s strategic goal of radiating the whole country has made slow progress.
Guanchao new consumption learned that in this issuance, Dezhou grilled chicken plans to raise about 758million yuan for the new food processing project of Dezhou grilled chicken (Suzhou) Co., Ltd., the construction project of quick-frozen grilled chicken production line, the marketing network and brand upgrading project. Dezhou grilled chicken tries to take Suzhou as the center of the Yangtze River Delta, radiate more areas, develop new markets, and reduce regional concentration.
Cui Guihai, chairman of the board, said in a previous media interview that in addition to striving for listing within the year, Dezhou grilled chicken will continue to innovate and develop, occupy the markets in East and South China as soon as possible, and transform Dezhou grilled chicken from a local brand to a national brand.
It is also worth noting that before this offering, Cui Guihai, Cui Chen and Chen Xiaojing directly held 25.06%, 22.22% and 2.22% of the company’s shares respectively. Among them, Cui Guihai and Chen Xiaojing are husband and wife relationships, Cui Guihai and Cui Chen are father son relationships, and Chen Xiaojing and Cui Chen are mother son relationships.
In addition, cuiguihai and cuichen indirectly hold 5million shares of Dezhou braised chicken through the braised chicken food city, with a shareholding ratio of 5.56%. The three persons jointly control 60.06% of the voting shares of the company and are the actual controllers of the company.
For a long time, Cui Chen was thinking about whether young people still eat Dezhou braised chicken.
Throughout the whole bittern industry, there are too few brands famous for “chicken”. When it comes to “chicken”, the brand most young consumers think of is KFC. The flavor of Dezhou grilled chicken, Daokou roasted chicken, Goubangzi smoked chicken, Fuliji roasted chicken with a long history is more like “a dish”.
Experienced the precipitation of history, time-honored brands have a deep brand in the hearts of consumers. If you want to rejuvenate, you must break through the old and bring forth the new, and look for new breakthroughs. The same is true of Dezhou braised chicken.
Cui Chen believes that “culture, ingenuity and the pursuit of product quality and technology should be inherited; in response to new consumer groups and consumption scenes, we should make innovations in marketing, brand building and products.”
How to optimize the structure internally, iterate and make breakthroughs externally, so as to achieve sustainable development and complete the transformation of the industry is the problem that Cui Chen, who inherited his father’s business, has been thinking about for many years. How to be younger and diversified is what Dezhou braised chicken is doing.
Dezhou grilled chicken chose two steps: online and offline. While continuing to develop offline chains, it improved its sales and supply channels, and also invited Luo Yonghao and other head anchors to do several live broadcasts.
In August 2019, Dezhou braised chicken launched a new brand “Lu Xiaoji”. The homonym of “Lu” and “halogen” represents the positioning of Lu Xiaoji’s halogen snack products. “Small” combines the eating habits and consumption scenes of modern young consumers, uses small packaging designs that are more in line with modern consumer preferences, and introduces various halogen “small” snack products; “Ji” is homonymous with “chicken”.
To cater to the consumption habits of young people, Lu Xiaoji’s categories include chicken feet, chicken wings, chicken legs, etc., with five flavors, spicy flavor, rattan pepper flavor, etc., and also introduced e-commerce live broadcast, short video marketing, etc.
Dezhou grilled chicken has adopted a dual brand strategy. The main brand, Dezhou braised chicken, inherits technology and culture, and the consumption scene revolves around gifts and dinner; Lu Xiaoji, a sub brand, has entered the field of leisure snacks. The old flavor inherits and retains the old customers, the new brand meets the personalized and differentiated needs, breaks through the circle and pulls new ones, and the old online celebrity becomes the new online celebrity again.
Feng Weidong, CEO of Tiantu capital, once said that compared with traditional snacks such as melon seeds, meat products such as Dezhou grilled chicken and Zhou Heiya have a greater sense of pleasure, resulting in greater sales value. The key lies in product positioning.
Cui Chen said at the 2021 Guochao new consumption conference that why did Dezhou braised chicken flourish in the past? At that time, its products and channels interacted and resonated with consumers. In this era, our products and services should naturally serve the current young consumer groups.
“When time-honored brands stop mentioning ‘old’, they will really succeed.”
As a unique industry in China, halogen products have developed for more than a thousand years. After the reform and opening up, with the development of aquaculture, the leisure brine food industry began to rise, and now it is in a period of rapid growth.
At present, the top5 enterprises in the domestic leisure halogen products industry are Juewei food, zhouheiya, Ziyan Baiwei chicken, Huangshanghuang and jiujiuya. However, the halogen products industry is relatively scattered. According to public data, the market share of the top five is only 20%.
In the prospectus, Dezhou braised chicken also listed Huang Shanghuang, Zhou Heiya and Juewei food as its main competitors.
However, compared with the above three enterprises, Dezhou braised chicken has a certain gap in the number of stores and revenue scale. As of the close of today, the market values of Juewei food, Zhou Heiya and Huang Shanghuang were 32.267 billion yuan, 1.283 billion Hong Kong dollars and 6.113 billion yuan respectively.
However, compared with the annual sales of 2.3 billion yuan of Huangshanghuang, zhouheiya and Juewei, there is a lot of room for growth of Dezhou braised chicken.
Time honored brands catch up with the “national tide”
Zhangxiaoquan went public, wufangzhai completed its listing guidance, and Dezhou grilled chicken submitted its prospectus… Time honored brands sought transformation, got on the capital express, and made great progress all the way.
At the beginning of this year, the Ministry of Commerce and other eight departments jointly issued a document proposing that by 2025, the protection, inheritance and innovation development system of time-honored brands will be completed, and brands will enhance their market competitiveness while strengthening their innovation.
Driven by the “national tide”, supported by policy capital and driven by technological innovation, time-honored brands with deep brand advantages have ushered in unprecedented development opportunities. More and more time-honored brands “enter the tide”, and even lead the national tide.
Guanchao new consumption believes that Guochao should highlight the charm of Chinese culture, lead the innovation of Chinese thinking, inherit the spirit of Chinese craftsmen, and stimulate the infinite possibilities of Chinese brands. This is actually the overall confidence of Singaporeans in exporting Chinese culture, Chinese technology, Chinese brands and Chinese trends to the world.
Fans for more than 100 years, cakes for more than 200 years, roasted chicken for 300 years, knives and scissors for 400 years… Time-honored brands polished by time have been tempered from generation to generation, and have been washed, aroused and innovated in the new era of the rise of national tide.
Behind the time-honored brand is the carrier of the integration of history, culture and economic phenomena. It has the power to go through a century, and it can also continue to cross the era after innovation. Feelings have become the most prominent label of time-honored brands, but they are definitely not the only selling point.
In terms of business, in recent years, many time-honored brands are actively carrying out product innovation, service upgrading, channel reform and marketing crossover, and are committed to meeting the consumption trends created by the preferences of contemporary young consumers and the overall era environment;
From the brand level, time-honored brands have rapidly grown and led the trend in the environment of telling Chinese stories by inheriting and digging into their core cultural values.
This process is also the practice path of Guochao to promote the development of Chinese brands under the dual wheel drive of “culture + technology” proposed by Guanchao.
Compared with other enterprises, time-honored brands bear more value and responsibility, and have greater standards and pressure for development. When the young generation of Chinese consumers re-examine their local culture and aesthetics, time-honored brands have more advantages and opportunities in the national trend.
To keep pace with the times, Centennial brands must adhere to the mentality of daring to try, re adapt to the new consumption ecology, and adhere to the responsibility and inheritance of time-honored brands in the process of innovation.
Consumption is upgrading, and the national tide is rising. Time honored brands continue to innovate and develop, and new and old brands continue to blend and broaden their boundaries under the promotion of consumer groups. It is not so much a brand bonus as a category bonus. The era of domestic consumption of big brands has arrived.
Source: tide watching new consumption (id:tidesight), reprint has been authorized. Reprint authorization and media business cooperation: Amy (wechat: 13701559246);
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