In the period when the net red economy broke out, its ability to absorb gold once shocked the industry. According to public information, taking the head net of Hong Zhang Dawei as an example, the sales of his personal Taobao shop exceeded 170 million yuan on the same day last year.
The net red water is inseparable from the marketing promotion behind it. A few days ago, according to relevant media reports, the company that cultivated Zhang Dawei, Daikin, Bugs and other net reds, such as Han Han Holdings, is currently negotiating with investment consultants for listing matters. It plans to go to the US IPO in 2019, and is expected to raise funds 1 Billion dollars – 200 million US dollars.
As of press time, Ruhan Holdings has not responded to this matter. However, since the official delisting of the New Third Board in April this year, the industry has voiced that it is preparing for the IPO.
At present, there are a number of investors behind the support of Ruhan Holdings. Tianyuecha platform information shows that Safran Fund, Alibaba and Junlian Capital rank among the top ten shareholders of Ruhan Holdings, and the shareholding ratio of the three is 9.59%, 9.58% and 9.56% respectively. The data shows that at the end of 2016, its valuation has exceeded 3.1 billion yuan.
However, it is worth noting that some insiders believe that the head net red still occupies most of the traffic and economic space. As the current red industry goes through the initial dividend period, the increase in the threshold means that the competition is intensifying. To recreate a Zhang Dawei, perhaps not as simple as imagined.
Going to the US next year
According to public information, Ruhan Holdings was established in 2001. Judging from the company’s official website information, it is positioned as a “net red incubator” company, which mainly covers red brokers (mining, cultivating, incubating new media opinion leaders), marketing promotion (advertising endorsement, brand marketing consulting), E-Commerce business (utilization) The image of the red man creates a store brand) and so on.
Specifically, the representative of the net red that has been successfully hatched in recent years includes Zhang Dazhao, Daikin, and Bugs. According to the statistics of the “Securities Daily” reporters, as of 21:00 on November 5, the number of fans of the above three people on Sina Weibo reached 8.927 million, 3.456 million, 3.369 million, and the number of fans in Taobao shop was 9.34 million and 3.16 million respectively. 1.02 million.
In fact, according to relevant industry insiders who do not want to be named, 2016 is an important node for the rapid development of the net red economy. At that time, a large number of net red emerged, which was very popular. Benefiting from this, such as Han Holdings is favored by capital.
Tianyuechao platform information shows that in December 2014, Ruhan Holdings was awarded the A round of financing by Safford Investment Fund; in October 2015, it completed a 12-round B-round financing, including Saifu Investment Fund, Junlian Capital, and Yuanyuan. Mirror Venture Capital, Kunlun Wanwei; in August 2016, it officially landed in the New Third Board; in November 2016, completed a new round of financing of over 430 million yuan, including Alibaba, Jinshi Investment and Legend Holdings’s Junlian Capital. Wait.
In this context, the valuation of Ruhan Holdings has risen all the way. According to data from Tianyue. In July 2016, an individual investor obtained 82.14% of the equity of Ruhan Holdings at a price of 176 million yuan. Based on this calculation, the company’s valuation was around 214 million yuan. However, the reporter found on the company’s official website that after the completion of the listing and a new round of financing, the valuation of Ruhan Holdings at the end of 2016 has reached 3.1 billion yuan.
It is worth noting that after two years of landing on the New Third Board, on April 26 this year, Ruhan Holdings disclosed that the company’s shares will be terminated in the national SME share transfer system. In retrospect, in a notice at the end of January this year, the company mentioned that the reason for the delisting was “to meet the needs of the company’s future development and strategic planning.”
Head net red is difficult to copy
After receiving capital blessings, Ruhan Holdings once developed rapidly.
“Securities Daily” reporters checked their financial reports and found that in 2016, the company achieved revenue of 446 million yuan, an increase of 14654%; net profit attributable to listed company shareholders was 2.636 million yuan, an increase of 310.07%. In the first half of 2017, revenue reached 305 million yuan, a year-on-year increase of 293.48%.
But it’s worth noting that the company’s profitability is not as good as its revenue level. According to the 2017 semi-annual report, the company’s net profit loss during the reporting period was 15.319 million yuan, a year-on-year decrease of 287.64%.
In addition, the company’s sales costs are high. The data shows that its sales expenses for the whole year of 2016 and the first half of 2017 were 132 million yuan and 118 million yuan respectively, accounting for 29.6% and 38.7% of the total revenue for the current period. Specifically, its sales expenses are mainly advertising and red fee service fees.
This means that the cost of using Han Holdings as an incubator and promoting net red is not a decimal, which further drags down its profitability.
In this regard, the above-mentioned industry insiders told reporters that although the head network is red, such as Zhang Dazhao and others, it does have strong profitability, but its incubation cost is relatively high and there is uncertainty. In his view, the net red cultivated by the heavy gold can reproduce the successful mode of Zhang Dazhao and other head net red, and it is worthwhile to successfully generate revenue for the company.
In fact, from the financial report, although there are dozens of net reds in the contract of Ruhan Holdings. However, the data shows that the Daxie E-Commerce Company founded by Zhang Dazhao (such as Han Holdings holds 51% of its shares), realized revenue of 132 million yuan in the first half of 2017, equivalent to 43.3 of the current total revenue of Ruhan Holdings. %; realized a net profit of 18.91 million yuan, better than the profit performance of Ruhan Holdings during the same period.
In addition, in the industry’s view, with the continuous development of the market, the threshold of the network red industry has become higher and higher, the competition pressure is greater, and the economic space is further compressed. In this context, some insiders believe that listing is a big choice worth considering, or it will help them further seek profit growth.