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Articles by 陈晓京
Browse 41 New Distribution articles by 陈晓京.
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Excess Raw Milk: How Can Upstream Farms Break Free?
Over the past two decades, two major factors have repeatedly plagued dairy farms: rising feed costs squeezing profit margins, and weak terminal consumption leading to oversupply of raw milk. This has bred a formidable industry cycle. For farms, the price of raw milk directly influences herd size—high prices prompt expansion, low prices lead to dumping milk and selling cows. Like the pig cycle, it's an open secret and a stubborn impasse. Years ago, under optimistic consumption expectations, domestic dairy enterprises launched an expansion wave upstream, with '10,000-cow farms' everywhere. The aftermath: herd sizes expanded, raw milk output swelled, surpassing 40 million tons for the first time in 2022, making China the world's fourth-largest milk producer. The hidden danger has now surfaced: raw milk is in surplus. Farms are forced to sell milk at low prices, and dairy companies are compelled to spray-dry milk for storage. Large-scale farms are suffering widespread losses, while small and medium farms without bargaining power are already living beyond their means. This is arguably the toughest time since 2008.
陈晓京Who Will Rule the Billion-Yuan Compound Seasoning Market?
Workers have long puzzled over why chain restaurants are proliferating while wok-fired dishes are disappearing. Around five or six years ago, street-side stir-fry shops were everywhere, and people believed this business would stay hot. But times have changed: chain restaurants and pre-made dishes have rapidly replaced stir-fry shops, and compound seasonings have played a key role in this shift. They overturn the old habit of adding seasonings multiple times during cooking, allowing a single sauce packet to easily complete a dish—convenient, fast, and standardized.
陈晓京Weiwei's Substance and Image
After a long detour, Weiwei shares found that soy milk is its ultimate destination. In the 1990s, Weiwei Soy Milk emerged in the wild consumer market, with the slogan 'Weiwei Soy Milk, Happy and Joyful' deeply rooted in people's hearts. However, after listing as the 'first soy milk stock', the company focused on diversification, trying dairy, coal, liquor, real estate, and pharmaceuticals, only to end up empty-handed after more than a decade in the liquor industry. In recent years, the prodigal son has finally returned, divesting loss-making assets...
陈晓京The Midfield Battle of Chinese Ice Cream
From the fragmented early market dominated by local brands like Guangming, Beibingyang, and Wuyang, to the market elevation driven by foreign brands such as Wall's and Nestlé, and then to the core market control by Yili and Mengniu leveraging raw materials, channels, and brand advantages, Chinese ice cream has completed its first half. The 'ice cream assassin' Zhong Xue Gao stirred the waters, bringing an opportunity for comprehensive premiumization of local brands and ushering in the second half of the Chinese ice cream market. Now, industry pillars like Yili and Mengniu are moving upward, while Zhong Xue Gao, caught in the middle, is testing downward, and more new players are entering the fray, with foreign brands also staying to seek new opportunities.
陈晓京The Noodle Arena: Winds of Change Blow Again
Chen Keming, founder of Kemen Food, has become an internet sensation on Douyin, attracting 200,000 followers in less than 10 days. As the noodle industry faces a plateau, major players like Kemen, Xiangnian, and Jinshahe are diversifying into convenient foods and healthy staples to build a second growth curve.
陈晓京Wuhan's "Erchang Soda" Battle: Whose Soda Is It?
At the just-concluded Wuhan Erchang Soda distributor conference, Lan Shili was not satisfied with the signing numbers. This re-entrepreneurship project, which he sees as 'surpassing the past,' may face twists and turns. The traditional peak season for beverages starts in April, but Lan only recently rushed to recruit distributors, clearly a few steps behind. A bigger risk looms: whose soda can be called 'Erchang Soda'? Since last year, Wuhan Hengrunshi, the operator of Hankou Erchang Soda, has repeatedly filed oppositions to trademarks applied for by Wuhan Erchang Beverage. The five confrontations are undoubtedly a warning to Lan Shili—in the same city, not everyone can print 'Erchang' on a soda bottle.
陈晓京Why Can't Domestic Soda Produce a Listed Company?
In recent years, domestic soda brands have made a comeback, but they still struggle with capitalization. Bingfeng and Beibingyang have both attempted to go public but failed. The root cause lies in their limited growth and innovation, which regulators under the registration system are wary of.
陈晓京A Brief History of Bottled Water in China | The 100-Billion Bottled Water Industry
Bottled water has a short industrial history in China, dating back only 34 years to the launch of C'estbon in 1989. Despite its simple taste and composition, it has grown into a massive industry, attracting numerous companies. With nearly 3000 brands and a market size close to 300 billion yuan, bottled water is the largest segment in China's soft drink market, evolving from purified water to natural spring water and beyond.
陈晓京Is Domestic Milk Really Less Fragrant Than Imported? This Survey Reveals the Truth!
The notion that 'the moon is rounder abroad' periodically surfaces online, and this time it's the dairy industry's turn. Are domestic milk products truly less fragrant than imported ones? Is the protein content of domestic milk necessarily lower? Don't follow the herd; only investigation gives you the right to speak. To this end, Zebra Consumption dispatched a team to several supermarkets, randomly surveying nearly 20 types of UHT milk from 13 common Chinese and foreign brands, focusing on protein indicators, and concluded that domestic milk is not inferior to imported milk!
陈晓京Vitasoy International: Backed by Mainland China, Selling HK$6.5 Billion in Soy Milk Annually, Capacity Constraints to Slow Growth
Vitasoy's soy milk, a household name in Hong Kong, has quietly entered key accounts, large supermarkets, and even convenience stores in mainland China, occupying prime shelf space. Mainland China is now Vitasoy International's largest and most important market, contributing over 60% of annual revenue. After selling its North American tofu business and establishing a soy milk joint venture in the Philippines, the company is focusing on mainland China with a 'broader and deeper' strategy. However, with mainland revenue growing over 30% annually, capacity expansion may lag, and the company expects growth to slow slightly.
陈晓京After Losing Major China Railway Contract, Tibet Water Resources Idles Over 70% of Capacity
Tibet 5100 glacier water, priced higher than Evian, once derived 90% of sales and 80% of revenue from railway channels. After losing the China Railway contract, its performance has been mediocre. Tibet Water Resources' 2018 interim report shows revenue of 447 million yuan, down 2% year-on-year, and sales volume of 59,200 tons, down 4%.
陈晓京China Want Want's Fall: A Can of Want Want Milk Sold for Over 20 Years, 50 New Products a Year Hard to Create a Hit
Li Ziming has grown from a milk-drinking child to a primary school teacher, but Want Want milk remains the same can. China Want Want's main product, Want Want milk, has been on the market since the 1990s, with sales skyrocketing. A product sold for over 20 years, the continuous decline in recent years is not surprising. In the early years, Want Want milk dominated the reconstituted milk beverage market, but today, with abundant products, this former strong children's beverage IP has reached a greasy middle age. Since 2014, Want Want milk's performance has fallen below 10 billion yuan, and two years later below 8.5 billion yuan.
陈晓京The Transformation Path of Two Specialty Enterprises: Fuling Zhacai Focuses on Pickled Mustard, while Jinhua Ham Embraces Big Health!
After 23 years in the ham business, Jinhua Ham made a sudden turn into the big health sector. Last year, it divested its ham business and entered big health by taking control of Zhongyu Capital, resulting in impressive financial reports this year, with revenue and profit growth reversing last year's decline of over 20 million yuan. Soon, Jinhua Ham may remove its 'First Ham Stock' label. As a local specialty enterprise in Zhejiang, Jinhua Ham's ham business has been challenging, while Fuling Zhacai, listed in 2010 and also a specialty producer, has strengthened its core business, with last year's non-GAAP net profit 21 times that of Jinhua Ham.
陈晓京Du Guoying Behind 'Xiaoguan Tea': 20 Years of 'Three Moves' and Five Products Worth Hundreds of Millions
Du Guoying, a former Henan teacher and now the founder of the popular 'Xiaoguan Tea', has been a serial entrepreneur for 20 years. His 'three moves' strategy has repeatedly turned ordinary products into high-priced successes, from Back-Back Best to Good Memory Star, E-people E-book, 8848 phone, and Xiaoguan Tea, each with a typical popularity cycle of three to five years before being sold off.
陈晓京COFCO Lost 900 Million Yuan in 7 Years Making Instant Noodles; Why Did Kemen Noodle Manufacturing Take Over the Hot Potato Wugudao Chang?
Expansion and cross-industry moves are common in the capital market, whether for short-term arbitrage or long-term strategy. Kemen Noodle Manufacturing (002661.SZ), a company known for its dried noodles, has now spent 52.28 million yuan to acquire the assets of Wugudao Chang. The company stated that the acquisition will help enrich its product categories, but the move raises questions about its strategy beyond its traditional noodle business.
陈晓京Two Beverage Giants: 20 Years of Rivalry in the Same City, How Did the 'Inferior' Distributor Outshine the Big Brother?
In recent days, Zong Qinghou and his daughter have been busy: his daughter Zong Fuli spent 500 million yuan to acquire China Candy (08182.HK), while Zong Qinghou himself plans to acquire Dean Foods, the largest dairy company in the US. Meanwhile, Zhong Shanshan of Nongfu Spring quietly promotes his glass-bottled water at high-end events. This contrast reflects their different styles: Zong is high-profile, while Zhong is low-key, and their companies' fortunes have diverged accordingly.
陈晓京Aggressive Advertising: From Zero to Ten Billion in 10 Years, Is Six Walnuts Following the 'Brain Gold' Path?
A son who was lazy and in debt was kicked out by his father, only to become wealthy a decade later. This story mirrors the journey of Yangyuan Beverages, which went from a subsidiary of Hengshui Laobaigan to a nearly 10-billion-yuan revenue company in 10 years, driven by its single product 'Six Walnuts' and heavy advertising. Now on its third IPO attempt, the company faces scrutiny over its reliance on advertising and lack of innovation.
陈晓京