Is Wei Long listed? What is its business model? Why can you go public even if you buy chili fries ah?

Weilong is not yet listed, but passed the listing hearing of the Hong Kong Stock Exchange on November 15, 2021

Weilong was founded in 1999, is a modern leisure food enterprise integrating research and development, production, processing and sales. As a breath of fresh air in the chili bar world, Weilong has broken the stereotype of chili bars as low-end and unhygienic through a series of brand marketing.

On May 12, 2021, Weilong filed an application for listing, and the name of the company to be listed was "Weilong Delicious Global Holdings Ltd." On November 15, Weilong Delicious Global Holdings Ltd. passed the listing hearing of the Hong Kong Stock Exchange.

Then let BCC Xingyuan with professional knowledge for you to analyze its business model canvas!

Weilong Food's business model canvas analysis|BCC Xingyuan

Weilong Food's main target customers are sinking young consumers

Value proposition: provide healthy, fashionable and casual FMCG products

Customer relationship: online store membership, retail

Channel access: agents and wholesalers, convenience stores, supermarkets and online shopping malls< /p>

Key partners: production equipment suppliers, raw material suppliers and third-party logistics providers

Core resources: brand reputation, advanced production technology

Key activities: new product research and development, brand marketing

Cost structure: operating costs, marketing and promotional expenses, research and development expenses

Revenue sources: product revenue

Spicy Chips It belongs to the middle and low-end food in the casual food industry, but its unique taste is very suitable for the taste of young people, so Weilong Foods will target the market to the middle and low-end consumer groups, young people who love sweet and spicy taste.

Weilong Foods analyzed the market characteristics of young people and concluded that young people in the purchasing process, the product's taste, texture is the most critical, followed by attention to the price of the product. At the same time, consumers in the purchase of spicy noodles also hope that the product has a certain sense of fashion, because in the fast-paced modern life, young people often work overtime, business trips, the need to carry convenient to eat the product, which puts forward new requirements on the product form of spicy noodles, packaging form.

So Weilong Foods upgraded its own product packaging between 2015 and 2016, upgrading the packaging to a minimalist style with black and white as the main color tones, and adopting foreign-style aluminum foil and aluminum film packaging. At that time, most of the same type of goods use transparent bag packaging market environment, this packaging upgrade allows Weilong food in the spicy bar industry to seize a more leading edge.

In order to make its brand name, Weilong Foods has taken a variety of creative marketing means, from the early days of its establishment, Weilong to "*** Create Legend" as the theme of the simultaneous organization of exhibitions and new product launches, which not only demonstrated the charm of the brand features and witnessed the launch of new products, but also promote the market procurement and advertising, marketing and promotion. It can be said to be a multi-purpose. At the same time, Weilong also enhances its popularity through celebrity endorsement and network publicity. Weilong teamed up with "Little Swallow" to launch the "Weilong" classic series, and cooperated with the popular traffic flower Yang Mi to launch a variety of products such as kissing mouth burnt, kissing mouth dried beans. Weilong and star cooperation, not only for its popularity, but also a change of spicy noodles before just low-end snacks stereotype.

In terms of production technology, Weilong has gone through continuous upgrading of equipment to realize automated production. The production workshop uses five major types of equipment and machines, including powder mixing equipment, cooking equipment, seasoning equipment, sterilization equipment and packaging equipment, including automatic feeding, automatic packaging and other automated production equipment, instead of manual work.

And Weilong Delicious takes the lead in importing management systems such as FSSC22000, HACCP, ISO22000:2018, etc. Based on the national food safety related laws and regulations, and combining with the actual enterprise to refine the standards, we carry out the implementation of the standards in terms of product safety and product quality, and set up a set of food internal control system covering each link of supply, production, transportation, and marketing, to realize the The systematic management of food safety.

In response to Weilong's vulgar marketing behavior, BCC Xingyuan Consulting believes that enterprises should seriously do a good job of product and careful publicity, not for the sake of the pursuit of traffic and commercial interests, low-level marketing, but to do a good job of self-supervision and self-regulation, to create a better environment for business culture.

The above is BCC Xingyuan's analysis of Weilong Food's business model canvas, and we welcome you to come together to **** the same discussion.