How to evaluate the stationery industry mess?

All marketing is based on business, and all business is based on timing!

In the stationery industry's best-selling season, a "a neutral pen sold for 55 yuan" news rushed to the microblogging hot search, parents instantly and calmly, avoided the "ice-cream assassin", but did not avoid the "stationery! The first time I've seen this, I've seen it in the past, and I've seen it in the past!

This summer, ice-cream, fruits, mooncakes to make the wallet "hurt" things happen from time to time, "Assassin's League" also came into being.

When more and more assassins appeared, the purchase of the desire to be satisfied with this pleasure was y wounded; now, many parents of the wallet is also to be "seriously injured"!

One

What do you remember the price of a pen?

Workers want to do a good job must first sharpen their tools!

Nearing the beginning of the school year, stationery is also

It is understood that this is a co-branded with the anime IP nautical king UNIQUE black gold series of neutral pens, priced at 55 yuan, the price is much higher than the same type of ordinary stationery, the price of an ordinary neutral pen even less than a fraction of it.

Netizens have lamented that "avoided the ice-cream assassin, but could not avoid the stationery assassin". There are also netizens said, "people are clearly marked price, no one forced you to buy." "Stationery should be mainly practical." "Although the price is clearly marked, but is it really worth 55? It is relying on the children like, boldly earn parents' money."

In short, overpriced stationery that sells is not even on its side as stationery!

As parents in the purchase of stationery for their children, absolutely do not blindly follow the trend and blind choice, that expensive must be the best. The pen is just a learning tool, to understand its performance and practicality for comprehensive consideration, to instill a comprehensive consideration of the mind is particularly important.

"Lurking" shelves, the price tag "missing" is also one of the stationery industry chaos!

Prices are clearly marked, and it is only fair to say that you get what you pay for;

However, the market choices, the freedom to buy and sell; you would like to, there is no excuse!

It is worth mentioning that this summer, the wallet "hurt" things happen from time to time.

Ice-cream, fruit, mooncakes and so on, and even formed a what "League of Assassins".

Once upon a time, buying snacks and stationery, to a certain extent, satisfied the user's offline social and experiential needs, even if a little more expensive, most people are willing to pay for it. But when more and more assassins appeared, this pleasure was stabbed.

What kind of assassins have you encountered?

II

Indecisive industries, with less competition, can be growth areas for bulls.

Peter Lynch

The stationery business, the vast majority of the market share is actually occupied by a huge number of small manufacturers, is also commonly known as the "ant market".

As of last year, more than 8,000 domestic stationery companies, sales of more than 1 billion only five companies, the market share of the first Chenguang only take 7.3% of the share of the top five companies market share of only 17%.

But because of the strong stability of stationery retailing, it's also a business with excellent cash flow, with Chenguang's net profit cash content (net operating cash flow/net profit from operations) stabilizing at about 112 percent over the past five years.

To see the big in a small way, it is more intuitive to look at the status quo of stationery from industry leaders! In the A stock market, there are a number of stationery companies recently announced results:

Qixin Group (002301.SZ) in the first half of the operating income of 4.261 billion yuan, a year-on-year decrease of 5.01%; attributable to shareholders of the listed company's net profit of 852.712 million yuan, an increase of 18.69%. Qi Xin Group shares fell 19% so far this year;

Morning Glory (603899.SH) first-half revenue of 8.433 billion yuan, up 9.72% year-on-year; net profit of 529 million yuan, a year-on-year decline of 20.65%, a typical increase in revenue does not increase profits.

During the reporting period, the company's traditional core business operating income decreased by 12 percent year-on-year, while new business operating income increased by 34 percent year-on-year.

Morning Glory explained the profit shrinkage as a result of the epidemic. The company's headquarters and production base for its traditional core business as well as the headquarters for its new business are all in Shanghai. Shanghai's closure and control management, which lasted for more than two months, had a big impact on various aspects of the company's production and operation, such as raw material supply, logistics and transportation, marketing and personnel movement.

It is worth noting that since the beginning of this year, the share price of Chenguang stock has fallen 34%. The latest share price of 43.6 yuan, market capitalization of 40.414 billion yuan!

Three

Mention of "Chenguang" believe that we are no strangers, as today's stationery giant, with "M&G" signboards Chenguang stationery stores can be found everywhere around the school, but known as the "invisible champion". "invisible champion".

Why is this?

Because, whether it is paper, pens, erasers, or rulers, compasses, etc., any stationery products, can be found in the body of this brand; some people from kindergarten to elementary school, and then to middle school, high school, college, and even graduated from the work of the family may have been in the use of their products, such as "Morning Glory" special pens for the examination, The "Morning Glory" brand eraser.

What you can't imagine is that the morning glory, which sells for 2 yuan a piece, can generate revenue of nearly 20 billion yuan a year, with a market value of more than 92 billion yuan, sitting in the position of "China's No. 1 stationery company".

So, what is the legend behind the morning glory stationery, and how to make it bigger and stronger?

In 1997, the Asian financial crisis broke out, 27-year-old Chen Huxiong has been doing 8 years of Japanese and Korean stationery agents, at this time his suppliers began to fall one by one.

In the case of no goods can be replaced, Chen Huxiong began to set up their own pen team, and the company's name as "China and South Korea Chenguang Stationery", was thought to be "Chenguang" is Korean goods is because of this name, but in fact, at that time, Chen Huxiong was only the design department in South Korea, and the design department in South Korea. The design department is located in South Korea, while the production base is in Guangdong.

It was also at this point in time, ten years after the promulgation of the Education Law, China's rapid development of education, student stationery also ushered in explosive growth. With the growth in demand for student stationery, China's stationery industry was also gradually separated from the traditional department store industry to form an independent industry.

Morning Glory Stationery uses a retail chain to unify the image of the store, and the bright signboards also make passers-by look more often, which invariably increases sales.

Wantage

In January 2015, with the sound of the listing gong, Chenguang Stationery officially landed on the SSE, becoming the first stationery stock in China.

In 2019, Chenguang's pen products sold 2.3 billion, if calculated according to the length of a pen 15 centimeters, the first and last can be around the Earth's equator 8 and a half circles, simply stationery sector of the Shampoo.

In the capital market, Chenguang stationery is defined as "small demand elasticity, industry cyclicality is weak, the development of the enterprise is stable", many investors say, Chenguang stationery is a can through the economic cycle, resist market fluctuations, stable money-making enterprise.

Morning Glory Stationery also lived up to its name, listed in 2015 after eight years, the highest stock price rose more than 14 times, bringing rich returns for investors, once crowned "stationery thatched" title, in our lives is also heard and seen in the consumer goods category of the big companies. (Morning Glory Stationery 2022 renamed Morning Glory

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