From “Two bags of tea selling 45 billion yuan” to sell houses, how long does Bisheng source can support?

Wen | Chen Chang

Edit | Yang Jie

In the past, “slimming tea king” Bishengyuan has also come to the critical juncture.

Recently, Bishengyuan has released a profit warning. It is expected that the Group’s 2021 net loss will reach RMB 120 million, and the income will be reduced by approximately 15% from 2020.

This is not the first loss of Bishengyuan. In 2018, its loss has exceeded 90 million yuan. If the latest expected data is indeed, it will be a new high of the Loss of Loss in the year.

“Two bags of tea sells 4.5 billion yuan” Bishengyuan, in 2010, the port stock is known as “the first share of weight loss tea”, and the market value is once up to HK $ 5.2 billion. But since the listing, it fell into a loss whirlpool for a long time. As of January 7 this year, the share price of Bishengyuan is only HK $ 0.179, and the company has less than HK $ 300 million.

In fact, supporting the Bishengyuan company is now “selling a house”, and has become a big “renewed” Ling Dan. A giant, I went to the intersection.

“Slimming Tea King” is caught in a loss

At the beginning of the 21st century, the domestic tea bag industry was mainly occupied by foreign brands such as Nestlé and Lipon. Although it is also a sales of tea bag products, Bishengyuan, established in 2000, has a sword, and played the “weight loss slimming” banner, and he did not hesitate to publicize advertising.

“Let your intestines to take a shower.” This is an advertisement that is cyclically played in a variety show in the bus, elevator advertisement, and TV in the TV, elevator advertising, and TV. While showing the model, the model is showing, and it is recommended that Bishengyuan Changrun tea and slimming tea. The advertisement is not forgotten to add a sentence: “Don’t be too thin.”

The prospectus submitted by Bisheng Source to the Hong Kong Stock Exchange showed that from 2007 to 2010, Bisheng’s advertising fees were about 30% in the total annual sales. In 2009, Bishengyuan’s advertising fee reached 190 million yuan, and the net profit of Bishengyuan in this year was only 180 million yuan.

However, compared with high advertising costs, Bishengyuan’s raw material costs accounted for a low poor, in 2009, only 3.1%.

In 2010, Bishengyuan was successfully listed, and took the head of the domestic health tea field. This year, the company’s turnover reached 874 million yuan, gross profit margin was as high as 89.42%.

Zhao Yifang, founder of Bishengyuan, has said a word, and later quoted by countless media: “For 14 years (refer to 2000 – 2014), Bishengyuan only did one thing: selling two bags, a bag is Bishengyuan weight loss Tea, a bag is Basiyuan Changrun Tea. Two kinds of tea were sold 3 billion bags, 4.5 billion yuan. “

(Figure: Visual China)


But in fact, from the second year of listing, Bishengyuan began “falling”. In 2011, Bishengyuan lost 40.876 million yuan. Since then, the company struggles in the edge of the loss. In the 10 years after the listing, Bishengyuan has been lost in five years, of which the amount of loss in 2018 reached 95.299 million yuan.

After torquered in 2019-12020, in 2021, Bishengyuan was again lost in a loss of magic. The company explained in the announcement that this is due to changes in inventory management measures in 2021, leading to the decline in delivery from the dealer since December 2021, resulting in reduction in sales; at the same time, marketing power The impact of the layout on the group’s phased revenue is larger than expected.


However, for these reasons, “Financial World” weekly reported to Bishengyuan, and it is still not a reply as of step by press.

However, Bishengyuan also admitted in the announcement, “The Group’s sales performance in the 2021” Double Eleven “, the sales performance of ‘Double 12 shopping festival failed to achieve the expected sales amount.”

For a long time, the main product of Bishengyuan relies on “two bags”. But its weight loss tea products have become more and more “not selling”.


In the 2020 financial report, Changrun Tea and Changjing Tea (the original biological weight loss tea) were 192 million yuan and 19.9 billion yuan, and the total income was 391 million yuan. However, in terms of ten years ago, the total revenue of Bishengyuan has reached 870 million yuan, and only the income of the tea is only 566 million yuan.

At the same time, the gross profit margins of Bishengyuan also declined, from nearly 90% at the beginning of 2010, all the way to 67.5% in 2018. In 2020, Bishengyuan is 70.7%.

Safe, two bags of tea: from selling tea to sell diet pills

Bishengyuan can be “two bags”, declined “two bags of tea”.

Bishengyuan puts on large-scale advertising, accounting for the user’s mind, and also flies the sales of products. However, after listed, the diet market has been continuously emerging, and there are many “meal” “enzymes” products also claim that the weight loss effect has gradually replaced the position of Bishengyuan.

At the same time, as young people pay more attention to health concepts, Bisheng’s “detoxification” concept has been questioned. The exaggeration of its marketing advertisements and screams have also triggered the reverse of consumption.

“Since the continuation of health products such as Bi Shengyuan, it has been controversial. It has led consumers through a large number of advertisements and attached advertising costs to the product itself, which triggered the conflict between prices and values. Thus, many users Questioning it is in harvesting ‘IT tax’. “National Chinese Pharmacist, Health Manager, Chinese Medicine Marketing Planning Expert Yang Xiaoguang said to” Financial World “Weekly.

Is there any role in the weight loss tea of ​​Biongun? Pharmacists engaged in natural drug chemistry, from the professional perspective, in the instructions of Bisheng Herb, Changrun Tea and Changjing tea, the ingredients include “叶”, “Sena Leaves contain anthracene The ingredients can be used to stimulate the gastric intestines, which can be used for constipation clinical treatment. But use it is an allergic probability, improper use can cause rash, severe may also bring diarrhea, intestinal damage, etc. “

A weight loss dietitian also emphasized to “Financial World” weekly, the product of human fat decomposition is a gas, with breathing, sweat, and urine discharge body, so “through” nothing is no effect.

The complaint of the consumer to Bishengyuan products is therefore frequent. At the end of 2021, Guangdong TV station also reported that a Urumqi consumers drink Bishengyuan slimming tea, diarrhea is serious, while triggering high fever, it has been claimed to Bishengyuan, but it has not yet.

At the same time, the Bishengyuan lives “war”, and there is also a trend of the health care industry.

According to statistics, Bishengyuan’s 2007-2009 before the company listed, it has been “situated” because of advertising violations; only in Guangdong, Bishengyuan received a public warning of 19 regulatory authorities. Its product advertisement has also accepted the “black list” of the Guangdong Food and Drug Administration due to serious deception and misleading consumers, exaggerating the health effects.

(Figure: Bishengyuan Feicle)

The real supervision “thunder” is under 2016. The General Administration of Food and Drug Administration issued a new regulations, which stipulated that from May 1, 2016, the health product name on the market was not entitled in the market.

At that time, the city’s magnitude has reached 42% of Bishengyuan slimming tea, and it has to be renamed “Changjing Tea.” However, spending the user’s awareness of the advertising bombing cultivation, but is affected by renamed.

In 2016, Bishengyuan’s product sales plummeted 70.9 million to 1.47 billion bags, the company’s revenue also reduced 35.3% to 20.09 billion yuan, the market share also fell to 32.33%.

In 2019, as the supervision further strengthened, about 20 urban medical insurance bureaus in China issued a document, prohibiting designated pharmacies, selling non-medical products such as health foods.

Bishengyuan In 2018, I used the Southern Pharmaceutical Economics Research Institute, and the market share of Changjing Tea products in retail pharmacy channels was 33.19%, and the first market was first. This has brought a huge impact on its profitability.

Long-term reliance on “two bags of tea”, has to transfer “diversified”. From then on, Bishengyuan has begun to consciously turn heavy weight loss drugs Orly.

It is understood that Olissa is a drug that is currently approved for obesity or weight overweight (weight index ≥ 24kg / m2) patient. According to the public information of Bishengyuan, the Group has begun through the subsidiary of Zhongshan Han Pharmaceutical and Zhongshan Wanyuan New Drug R & D Co., Ltd., R & D, production and sales of Bishengyuan Orleuri him to lose weight. In 2019, the proportion of weight loss drugs in the company’s income rose from about 17% to 40%.


As of the first half of 2021, Bishengyuan Aleili had a cumulative sales volume of 510 million. According to the company’s earnings, 2020 and 2021, Bishengyuan weight loss drugs (mainly including Bishengyuan Orleidi he) achieved sales of 305 million yuan, 285 million yuan, accounting for 50.1%, 42.5%, respectively, in revenue It has exceeded its traditional normal tea, Changjing tea, and fiber tea products.

“Although the sale of damages can be profitable, the problem is that this is limited by the public reputation, after all, the company can’t set an image of a ‘selling medicine to make money’.” Yang Xiaoguang said.

In addition, many doctors also told the “Financial World” weekly, although OTC drugs, Ott, but normal weight people are generally difficult to use. This also means that the market space of such products is far from comparable to the original “slimming tea”.

At the same time, the ability of cooperative pharmaceutical companies also limits the development of Bishengyuan. According to a drug, in 2019, my country’s Orleidi, the sales of Lunene’s pharmaceutical industry was 660 million yuan, and the market share was 52%. It is the head enterprise of Orleid him research and development; Shandong New Era, the market share is 26%; the market share of Zhongshan Wanhan in the cooperation of Bishengyuan is only 13%, and it is still weak.

At the same time, the weight loss drug is not the just need of consumers. At the same time, the weight loss crowd most pays most of safety, many consumers will also worry, whether such drugs will harm health. Therefore, Yang Xiaoguang also suggested that “Bisheng’s diet pills, emphasizes weight loss, it is better to emphasize security. To position the main population of Orlei, the group portrait, and the original weight loss tea is distinguished.”

At present, Bishengyuan has begun to sell new products such as meal milk. However, such derivatives are in the market, there are no big water flowers.


Before the release of the earnings warning announcement, Bi Aiyuan said that the land use rights located in Putuo District, Shanghai, and the land use right within the occupation of the house in Putuo District, Shanghai, will be sold in the price of 56 million yuan; Net will be used as the company’s main development and operational funds.

Retrospect history, “selling asset insurance results” is already “light car ripe” for Bishengyuan. Therefore, the outside world is also questioned, and the management of Bishengyuan will rely on “selling property” to survive.

In 2018, the results of the Birthday, in the end of the year, Bishengyuan disclosed, the price of 555 million yuan was sold in the Bisui headquarters building of Beijing West Fourth Ring Road.

From the end of 2018 to the end of 2019, Bishengyuan sold Beijing Changsheng Business Consulting Co., Ltd., with 125 million yuan, 100% of the subsidiary of Bishengyuan food beverages.

The sale of assets allowed the 2019 Bishengyuan successfully climbed out loss of mud, achieving an operating income of 812 million yuan, an increase of 114.6% year-on-year; net profit of 162 million yuan, a year-on-year loss. But in the financial report, “Selling the subsidiaries” reached 222 million yuan.

Now, Bishengyuan has begun “selling a house.” But how long can this “don’t go to usual road”, how long can Bisheng Source?

It is worth noting that today’s Bishengyuan is still a common visit to the list of food safety issues in the supervision department. In July 2020, when the Shenzhen Consumer Committee was branded in 10 Chinese and foreign high food remedies such as Bishengyuan and Tomson, Bishengyuan Changjing tea mold and yeast beyond the standard value of nearly 8 times.

In January 2022, the Beijing Market Supervision Bureau squeezed a number of food products such as agricultural products, health foods, meat products, condiments, and aquatic products, and a total of 18 unqualified foods, Bishengyuan Changjing tea also ranked.

Chinese food industry analyst Zhu Danong believes that as consumers have continuously deepen, Bishengyuan is now thinking “Dongshan again”, I am afraid it is difficult.

This article is created by the “Financial World” weekly account Ai Finance and Society, without permission, no channel, platform, please do not reprint. Violate the people.

(Figure: Bishengyuan Feicle)

About the Author

You may also like these