In this materialistic era, durian has become a luxury item frequently mentioned on social media due to its unique taste and high price. As the saying goes, "you get what you pay for", and expensive durians were once seen as a symbol of status and status. But things are always changing, and in 2022, the once unattainable price of durian suddenly "fell to the mortal world", and ordinary people can easily enjoy it. Such a drastic change makes people wonder: Is there a story behind this?
In this materialistic era, durian has become a luxury item frequently mentioned on social media due to its unique taste and high price. As the saying goes, "you get what you pay for", and expensive durians were once seen as a symbol of status and status. But things are always changing, and in 2022, the once unattainable price of durian suddenly "fell to the mortal world", and ordinary people can easily enjoy it. Such a drastic change makes people wonder: Is there a story behind this?
Behind this wave of durian price plummeting, there is an entrepreneur named Hong Jiu and his company - Hong Jiu Fruit. This company is not only the king of durians in China, but also a major distributor of a variety of imported fruits. The story of Hongjiu Fruit, which has developed from a small fruit stall to landed in the capital market, should be a typical Chinese-style entrepreneurial legend. However, in 2023, just as the price of durian plummeted, the market value of Hongjiu Fruit also collapsed, with a staggering loss of 50 billion. Is this a natural adjustment of the market, or is there something else going on? Let's find out. Behind this wave of durian price plummeting, there is an entrepreneur named Hong Jiu and his company - Hong Jiu Fruit. This company is not only the king of durians in China, but also a major distributor of a variety of imported fruits. The story of Hongjiu Fruit, which has developed from a small fruit stall to landed in the capital market, should be a typical Chinese-style entrepreneurial legend. However, in 2023, just as the price of durian plummeted, the market value of Hongjiu Fruit also collapsed, with a staggering loss of 50 billion. Is this a natural adjustment of the market, or is there something else going on? Let's find out.
Judging from Deng Hongjiu's start-up process, the rise of Hongjiu Fruit is almost a treasured chapter of an inspirational script. In 1987, as an ordinary worker, Deng Hongjiu challenged the difficulties of fate and entered the fruit wholesale industry with a small amount of savings. At the Chaotianmen Wharf in Chongqing, his first batch of red oranges sold out in two days, earning far more than a month's salary. This success gave him great confidence and laid the foundation for his later career. In 2002, Deng Hongjiu and his wife jointly established Hongjiu Fruit Co., Ltd., which has embarked on the track of rapid development.
Hongjiu Fruit's business has rapidly expanded to major supermarkets, wholesale markets and fresh e-commerce across the country. Its product line covers a variety of high-end fruits such as durian and mangosteen imported from Thailand to dragon fruit from Vietnam, making it an important supplier to the domestic market. In 2022, Hongjiu Fruit will sell nearly 4 billion yuan of durian, with a gross profit margin of 24.5%, becoming a veritable "Chinese durian king".
However, just as Hongjiu Fruit was booming in the market, the market changes in 2023 were like a sudden storm that caught the company off guard. The price of durian has plummeted suddenly, and the price per catty has fallen from the expensive price in the past to below 30 yuan, and there has even been an astonishing low price of "10 yuan per catty". This sharp reduction in prices is undoubtedly a huge blow to Hongjiu Fruit. The market is flooded with low-priced durians, and Hongjiu Fruit's high-cost operating model is beginning to show its weaknesses.
The intensity of the price war has exceeded the expectations of many industry observers. Although Hongjiu Fruit has a strong supply chain and huge sales volume, in this market environment, high operating costs and inventory pressure have put the company in a difficult situation. What's more serious is that due to market instability and internal management problems, Hongjiu Fruit failed to release its 2023 financial report in time, resulting in the suspension of trading of its shares, and its market value evaporated by more than 50 billion overnight.
In this crisis, Hongjiu Fruit is facing more than just financial problems. In fact, the bigger challenge is how to find new ways to survive in a rapidly changing market. Hong Jiu, which originally focused on the high-end market as its main sales target, had to reconsider its business strategy and market positioning. From a single price competition to a comprehensive upgrade of brand and service, Hongjiu Fruit must carry out profound self-innovation.
The story of Hongjiu Fruit reminds us that even the giants in the market cannot be taken lightly by the rapidly changing market environment. The business sea is like a battlefield, and today's king may be a passerby tomorrow. The experience of Hongjiu Fruit is a typical case, which warns all entrepreneurs: only by constantly innovating and adapting to changes in the market can they gain a firm foothold in the highly competitive market.
"The green mountains can't cover it, after all, it flows eastward." The big waves of the market will eventually test the resilience and innovation strength of every enterprise. For Hongjiu Fruit, the crisis may be a turning point, an opportunity to re-examine its own strategy, make structural adjustments and make innovative breakthroughs. For other enterprises, the experience of Hongjiu Fruit is a mirror, reflecting the ruthlessness of market changes and the hardships of enterprise survival. In this ever-changing era, only those companies that can foresee the future and have the courage to innovate can grasp their own future.
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