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class=\"wp-image-28840\"\/><\/figure>\n\n\n\n<p>\u58eb\u6c14\u5927\u589e\u7684\u4eba\u4eba\u4e50\u5f00\u59cb\u8fdb\u5165\u7206\u53d1\u671f\u30022002\u5e74\u4e4b\u540e\uff0c\u4eba\u4eba\u4e50\u8d85\u5e02\u7684\u603b\u9500\u552e\u89c4\u6a21\u6bcf\u5e74\u90fd\u80fd\u4fdd\u630130%\u5de6\u53f3\u7684\u589e\u957f\u901f\u5ea6\uff1b2010\u5e741\u670813\u65e5\uff0c\u4eba\u4eba\u4e50\u987a\u5229\u767b\u9646A\u80a1\uff0c\u8425\u6536\u7a81\u7834\u767e\u4ebf\u5927\u5173\uff0c\u51c0\u5229\u6da6\u8fbe2.37\u4ebf\uff0c\u5168\u56fd\u95e8\u5e97\u6570\u8fbe\u523078\u5bb6\uff0c\u5e97\u9762\u6570\u91cf\u5e74\u589e\u5e4528.1%\uff0c\u8fd9\u65f6\u7684\u5bb6\u4e50\u798f\u548c\u6c83\u5c14\u739b\uff0c\u5e97\u9762\u5e74\u589e\u5e45\u53ea\u670920%\u5de6\u53f3\u3002<\/p>\n\n\n\n<p><strong>\u6625\u98ce\u5f97\u610f\u7684\u4eba\u4eba\u4e50\u6b64\u65f6\u600e\u4e48\u4e5f\u6ca1\u6599\u5230\uff0c\u201c\u4e0a\u5e02\u5373\u5dc5\u5cf0\u201d\u7684\u547d\u8fd0\uff0c\u4f1a\u5370\u8bc1\u5728\u81ea\u5df1\u8eab\u4e0a\u3002<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\">\u4e8c\u3001\u76f2\u76ee\u6269\u5f20\u8f6c\u578b\u8fdf\u7f13\uff0c\u4e00\u624b\u597d\u724c\u6253\u5f97\u7a00\u70c2<\/h2>\n\n\n\n<p>\u65f6\u4ee3\u7684\u98ce\u5411\u603b\u662f\u8bf4\u53d8\u5c31\u53d8\uff0c\u6765\u4e0d\u53ca\u62e5\u62b1\u53d8\u5316\uff0c\u5373\u4f7f\u66fe\u7ecf\u53f1\u54a4\u98ce\u4e91\uff0c\u4e5f\u4e00\u6837\u4f1a\u88ab\u62cd\u6b7b\u5728\u6c99\u6ee9\u4e0a\u3002<\/p>\n\n\n\n<p><strong>2011\u5e74\uff0c\u4eba\u4eba\u4e50\u4e00\u53e3\u6c14\u5f00\u4e8624\u5bb6\u95e8\u5e97\uff0c\u5f53\u5e74\u65b0\u5f00\u95e8\u5e97\u5360\u5176\u671f\u672b\u95e8\u5e97\u603b\u6570\u768420%\u3002\u7136\u800c\uff0c\u4eba\u4eba\u4e50\u8fd8\u6ca1\u4eab\u53d7\u5230\u80dc\u5229\u7684\u679c\u5b9e\uff0c\u6765\u52bf\u6c79\u6c79\u7684\u4e92\u8054\u7f51\u96f6\u552e\u5df2\u5f00\u59cb\u5267\u70c8\u51b2\u51fb\u4f20\u7edf\u96f6\u552e\u5546\uff0c\u4f20\u7edf\u96f6\u552e\u4f01\u4e1a\u5f88\u5feb\u8fdb\u5165\u5bd2\u51ac\u671f\uff0c\u4eba\u4eba\u4e50\u7684\u201c\u8dd1\u9a6c\u5708\u5730\u201d\u4e0d\u4ec5\u6ca1\u80fd\u8fbe\u5230\u9884\u60f3\u4e2d\u505a\u5927\u89c4\u6a21\u7684\u6548\u679c\uff0c\u8fd8\u6210\u4e86\u4e8f\u635f\u7684\u5bfc\u706b\u7d22\u3002<\/strong><\/p>\n\n\n\n<p>\u9a91\u864e\u96be\u4e0b\u7684\u4eba\u4eba\u4e50\uff0c\u5374\u4f9d\u7136\u9009\u62e9\u7d27\u5b88\u7ebf\u4e0b\u6e20\u9053\u4e0d\u6492\u624b\uff0c2012\u5e74\uff0c\u4eba\u4eba\u4e50\u9996\u6b21\u51fa\u73b0\u4e8f\u635f\uff0c\u4e8f\u635f\u989d\u4e3a8961\u4e07\u5143\uff0c\u800c\u8fd9\u4ec5\u4ec5\u662f\u5f00\u7aef\u3002\u7978\u4e0d\u5355\u884c\uff0c\u7531\u4e8e\u80a1\u6743\u6fc0\u52b1\u5206\u914d\u95ee\u9898\uff0c\u4eba\u4eba\u4e50\u53c8\u51fa\u73b0\u4e86\u5927\u6279\u9ad8\u7ba1\u79bb\u804c\u73b0\u8c61\uff0c\u5185\u90e8\u52a8\u8361\u9891\u9891\u89c1\u8bf8\u62a5\u7aef\u3002<\/p>\n\n\n\n<figure 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class=\"wp-image-28842\"\/><\/figure>\n\n\n\n<p><strong>\u5c3d\u7ba1\u5404\u79cd\u65b0\u4e1a\u6001\u591a\u70b9\u5f00\u82b1\uff0c\u4eba\u4eba\u4e50\u516c\u53f8\u80a1\u7968\u8fd8\u662f\u88ab\u201c\u62ab\u661f\u6234\u5e3d\u201d\u3002<\/strong>\u5176\u5b9e\uff0c\u5728\u77ed\u65f6\u95f4\u5185\u63a2\u7d22\u591a\u79cd\u4e1a\u6001\u7684\u96be\u5ea6\u975e\u5e38\u5927\uff0c\u5bf9\u6bd4\u4e0d\u540c\u4e1a\u6001\u4e4b\u95f4\uff0c\u4ece\u9009\u54c1\u3001\u9009\u5740\u5230\u8fd0\u8425\u90fd\u5b58\u5728\u5de8\u5927\u7684\u5dee\u5f02\uff0c\u4e0d\u4ec5\u5f88\u96be\u5e26\u6765\u65b0\u4e1a\u52a1\u7684\u589e\u91cf\uff0c\u53cd\u800c\u8ba9\u4eba\u4eba\u4e50\u8eab\u9677\u56f9\u5704\uff0c\u80cc\u8d1f\u8d77\u4e86\u5e9e\u5927\u7684\u503a\u52a1\u3002<mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-white-color\">  CXO 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src=\"http:\/\/www.szhzxw.cn\/wp-content\/uploads\/2024\/02\/\u56fe\u7247-103.png\" alt=\"\" class=\"wp-image-28843\"\/><\/figure>\n\n\n\n<p>\u8fd9\u610f\u5473\u7740\uff0c\u4eba\u4eba\u4e50\u6b63\u5f0f\u6613\u4e3b\uff0c\u6b64\u524d\u7684\u5927\u80a1\u4e1c\u53ea\u5269\u521b\u59cb\u4eba\u4f55\u91d1\u660e\u6240\u630115.19%\u7684\u80a1\u4efd\uff0c\u9000\u5c45\u7b2c\u4e8c\u5927\u80a1\u4e1c\u7684\u4f4d\u7f6e\u3002<\/p>\n\n\n\n<p>\u4e00\u624b\u597d\u724c\u751f\u751f\u6253\u70c2\uff0c\u4eba\u4eba\u4e50\u7684\u9ad8\u5f00\u4f4e\u8d70\uff0c\u5982\u4f55\u80fd\u4e0d\u53eb\u4eba\u550f\u5618\u3002<\/p>\n\n\n\n<h2 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class=\"wp-block-image aligncenter size-large\"><img decoding=\"async\" src=\"http:\/\/cxounion.cn\/wp-content\/uploads\/2023\/06\/CXOUNION\u65b0\u4e8c\u7ef4\u7801.png\" alt=\"\"\/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\">\u7ffb\u8bd1\uff1a<\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">Once the richest man halo, but now insolvent: hard just like Wal-Mart&#8217;s &#8220;commercial super giant&#8221;, why decline?<\/h3>\n\n\n\n<p>When The Times are ready to abandon you, you won&#8217;t even say goodbye.<\/p>\n\n\n\n<p>28 years of ups and downs, not only can witness the growth of a person, but also witness the rise and fall of a business super. Just recently, Renren, once the &#8220;first share of private supermarkets&#8221;, released a performance forecast, and the company is expected to have a net profit loss of 470 million to 520 million yuan attributable to shareholders of listed companies in 2023, and a loss of 507 million yuan in the same period last year.<mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-white-color\">  CXO UNION-CXO\u8054\u76df\uff08cxounion.cn\uff09<\/mark><\/p>\n\n\n\n<p>According to the stock listing rules of the Shenzhen Stock Exchange, Renren&#8217;s shares may be delisted after the disclosure of the annual report in 2023, which is already its &#8220;three steps into the palace.&#8221;<\/p>\n\n\n\n<p>At the same time, the number of Renren&#8217;s stores continues to shrink. By the end of 2022, the number of Renren Le stores 113, compared with 149 in 2020 reduced by 36, the year did not open new stores, and with the rise of debt, Renren Le cash flow is also tight, as of the end of the third quarter of 2023, Renren Le asset liability ratio of 108.70%, has been in a position of insolvency.<\/p>\n\n\n\n<p>On this trajectory, it&#8217;s only a matter of time before it sinks, but the point is, it&#8217;s fun for everyone. As an early local hypermarket supermarket, Renren Le was founded in 1996, and China Resources Vanguard, Xinyijia, known as &#8220;Guangdong supermarket three giants&#8221;.<\/p>\n\n\n\n<p>Even in and Carrefour, Wal-Mart and other foreign giants staged &#8220;hand-to-hand combat&#8221;, Renren Le is not afraid, with flexible sales play, Wal-Mart lost millions. At the most beautiful time, Renren&#8217;s market value once exceeded 12 billion, and the founder He Jinming also became the richest man in Jiangxi with a net worth of 9 billion.<\/p>\n\n\n\n<p>However, the good times are not long, with the Renren music executives have left, sold, unable to make ends meet, the once hot ruthless role, now can only helplessly watch their own decline.<\/p>\n\n\n\n<p>Can stand on the peak, often not the winner, can laugh to the end, is the real king. From peak to bottom, what did everyone do wrong?<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">First, the war of two major foreign commercial super, the glorious years of Renren music<\/h4>\n\n\n\n<p>The name of everyone&#8217;s joy was once a loud presence in the retail industry.<\/p>\n\n\n\n<p>In the 1990s, China&#8217;s economy developed rapidly, and a large number of people rushed from rural areas to cities and from the mainland to the coast. With the rapid development of China&#8217;s urbanization process, a large number of local retail chain enterprises rose along the trend.<\/p>\n\n\n\n<p>In 1994, Zhang Wenzhong opened the first Wumart supermarket in Beijing, and the predecessor of Bubugao supermarket, &#8220;Xiangtan Bubugao Food Company&#8221;, was established. In 1995, Xinyijia was established in Shenzhen, and the founder of Yonghui Supermarket also opened a 100-square-meter small supermarket in Fujian.<mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-white-color\">  CXO UNION-CXO\u8054\u76df\uff08cxounion.cn\uff09<\/mark><\/p>\n\n\n\n<p>In 1996, at the age of 44, He Jinming resigned from public office and opened the first &#8220;Renren Le&#8221; supermarket in Shenzhen. Renren Le started with fresh supermarkets, and quickly gained a foothold by establishing brand reputation.<\/p>\n\n\n\n<p>Then, Renren Le with the honeycomb expansion strategy (that is, advanced military a regional center, mature quickly opened a number of new stores in the region, to form scale and brand advantages), has set up South China, Northwest, southwest, North China four operating regions, outlets covering dozens of large and medium-sized cities, the successful realization of cross-regional chain operation, among the top 100 chain in China, can be described as invincible.<\/p>\n\n\n\n<p>Among them, the most talked about by the outside world is the short military handover with foreign super Carrefour and Walmart, showing the true colors of heroes. In 1997, Carrefour had opened three stores on the mainland, and soon after the new store in Nanshan District of Shenzhen opened, the store welcomed a mysterious customer who visited every day.<\/p>\n\n\n\n<p>The mysterious customer of this location is He Jinming, through daily observation visits, He Jinming fully recorded more than 400 pages. After &#8220;cracking&#8221; the rival&#8217;s business strategy, Renren Le quickly &#8220;rise up&#8221;, not only pile up the display according to Carrefour &#8220;according to the sample&#8221;, the promotion is also more frequent than Carrefour, Carrefour changes once a day, Renren Le changes twice a day, three times a day, the price war between the two sides is in full swing.<\/p>\n\n\n\n<p>\u25b2 He Jinming<\/p>\n\n\n\n<p>Seeing Carrefour&#8217;s sales cut in half, while Renren&#8217;s sales climbed to more than 600,000, in order to avoid vicious competition, Carrefour took the initiative to raise the white flag. How the prestige of Carrefour, actually let no one play lost sense of proportion, this battle also let everyone happy since the fame.<mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-white-color\">  CXO UNION-CXO\u8054\u76df\uff08cxounion.cn\uff09<\/mark><\/p>\n\n\n\n<p>The undercurrent of the contest is not over. In June 1999, the unrepentant Walmart announced that it would open a 23,000 square meter store less than 200 meters away from Renren. At that time, Walmart had five stores in Shenzhen, while Renren had only one store of 6,800 square meters.<\/p>\n\n\n\n<p>After learning the news, He Jinming quickly opened a store in Futian, Shenzhen, and Huizhou, Guangdong, to strengthen its momentum. Renren Le first did a week of shopping festival, let Wal-Mart store promotion, and then unexpectedly closed the store to catch up, while Wal-Mart because of the previous follow-up losses of more than one million, unable to cope, Renren Le and raid the opening, big promotion and advertising, play Wal-Mart retreat.<\/p>\n\n\n\n<p>The high morale of everyone began to explode. After 2002, the total sales scale of Renren supermarket can maintain an annual growth rate of about 30%; On January 13, 2010, Renren Leshun Li landed A shares, revenue exceeded 10 billion mark, net profit reached 237 million, the number of national stores reached 78, the number of stores increased 28.1% a year, at this time Carrefour and Walmart, store annual growth rate of only about 20%.<\/p>\n\n\n\n<p>At this time, how did not expect that the fate of &#8220;listing is the peak&#8221; will be confirmed in their own body.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Second, blind expansion and transformation are slow, and a good hand is played to shreds<\/h4>\n\n\n\n<p>The wind of The Times is always changing, too late to embrace the change, even if once all-powerful, will also be beaten to death on the beach.<\/p>\n\n\n\n<p>In 2011, Renren opened 24 stores in one go, accounting for 20% of its total stores at the end of the year. However, Renren Le has not enjoyed the fruits of victory, the aggressive Internet retail has begun to vigorously impact traditional retailers, traditional retail enterprises soon entered the winter period, Renren Le&#8217;s &#8220;running horse enclosure&#8221; not only failed to achieve the expected large-scale effect, but also became the trigger of losses.<mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-white-color\">  CXO UNION-CXO\u8054\u76df\uff08cxounion.cn\uff09<\/mark><\/p>\n\n\n\n<p>Renren Music, but still choose to adhere to the line channels do not give up, in 2012, Renren Music for the first time, the loss of 89.61 million yuan, and this is just the beginning. Due to the issue of equity incentive distribution, Renren Le has seen a large number of executive departures, and internal unrest has frequently appeared in the news.<\/p>\n\n\n\n<p>The vicious circle continues, in 2014 and 2015, Renren Le ushered in a frenzy of store closures. Among them, 18 stores were closed in 2014, which directly caused a loss of 162.8512 million yuan; In 2015, 11 were closed, with a loss of 191,233,800 yuan.<\/p>\n\n\n\n<p>From the perspective of the area where the stores are closed, the headquarters in South China frequently close stores, and the subsidiaries are struggling to extricate themselves, this large-scale loss will inevitably lead to the collapse of Renren&#8217;s overall performance.<\/p>\n\n\n\n<p>In 2015, He Jinming, who could not look directly at the status quo, came out again, set out to solve the problem of loss in the main business, and hoped for a smooth transformation with the help of various power means. Renren began to accelerate the integration of online and offline transformation, including the construction of &#8220;Renren Tesco&#8221; online mall, &#8220;Renren Paradise&#8221; APP mobile application, Renren Music micro mall and other online shopping platforms.<\/p>\n\n\n\n<p>However, due to the sudden stock market crash, Renren&#8217;s plan to raise funds by issuing additional shares failed, and there was no strong capital as support, and the transformation plan could only be stranded.<\/p>\n\n\n\n<p>Subsequently, the unwilling Renle established the extension development direction of high-end boutique supermarkets and community life supermarkets, and opened 4 high-end boutique supermarkets and 4 community life supermarkets in 2016.<\/p>\n\n\n\n<p>Despite the emergence of various new forms of business, Renren&#8217;s shares are still &#8220;wearing stars and hats&#8221;. In fact, it is very difficult to explore a variety of formats in a short period of time, and there are huge differences between different formats, from selection, location to operation, which is not only difficult to bring about the increase of new business, but also make everyone happy in prison and bear a huge debt.<mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-white-color\">  CXO UNION-CXO\u8054\u76df\uff08cxounion.cn\uff09<\/mark><\/p>\n\n\n\n<p>Tired Renren Le had to temporarily get rid of the delisting dilemma by selling its properties, but this wave of blood transfusion only allowed it to survive for two years. In April 2019, Renren Le was once again changed from &#8220;Renren Le&#8221; to &#8220;*ST Renren Le&#8221;. When there was no other way out, Renren Le transferred the controlling shares to Xi &#8216;an Qujiang Cultural Industry Investment (Group) Co., LTD., and the actual controller was changed to the Management Committee of Xi &#8216;an Qujiang New District.<\/p>\n\n\n\n<p>This means that Renren Le officially changed owners, and the previous major shareholder only the founder He Jinming held 15.19% of the shares, returning to the position of the second largest shareholder.<\/p>\n\n\n\n<p>A good hand of cards to be broken, everyone happy high open low, how can not call people sigh.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\">Third, test the water of various forms of self-rescue, where is everyone happy<\/h4>\n\n\n\n<p>When the avalanche, no snowflake is innocent, back from the beginning, everyone is happy one after another, in fact, there are traces to follow.<\/p>\n\n\n\n<p>When the wind of Internet retail is blowing more and more fierce, Renren Le had the opportunity to turn around as soon as possible, but still insisted on the expansion strategy of high play, and eventually paid a heavy price. Under the &#8220;lucky&#8221; mentality, Renren Le&#8217;s changes stay more on the surface, Renren Le&#8217;s shopping mall has always been based on PC clients, and has not covered mobile users, and has not spent much effort to promote, but for transformation and transformation, so &#8220;Renren Tesco&#8221; has not improved.<mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-white-color\">  CXO UNION-CXO\u8054\u76df\uff08cxounion.cn\uff09<\/mark><\/p>\n\n\n\n<p>The family-style &#8220;one-word speech&#8221; also makes Renren le rigid organization and backward management. In the second year of Renren&#8217;s listing, dozens of executives left, and in this case, Renren is also difficult to attract excellent professional managers to join in the expansion of the territory.<\/p>\n\n\n\n<p>The management level can not keep up, and the major consequence is that the right to operate many types of goods is transferred to associate merchants, even including its core competitiveness of fresh business, which further leads to the dispersion of resources of Renren Le company and the inability to unify the supply chain. The supply chain is the lifeline of retail enterprises, without the advantage of supply chain, it will lose its competitiveness.<\/p>\n\n\n\n<p>On the contrary, Yonghui supermarket, which was once not as fierce as Renren Le, insists on deep cultivation in fresh, so as to establish a mature operating model, Yonghui supermarket&#8217;s main selling point is always fresh, relying on fresh profit, and the impact of e-commerce in this field is minimal.<\/p>\n\n\n\n<p>At the same time, Yonghui&#8217;s attitude to change is more pragmatic and timely, and has been actively seeking cooperation with mature e-commerce platforms. In 2015, Yonghui implemented a large-scale additional offering, of which Jingdong bought into Yonghui with 4.3 billion yuan, and the two sides complement each other online and offline in e-commerce, logistics and supply chain.<\/p>\n\n\n\n<p>After the decline of Renren Le, He Jinming, who returned to the helm, tried to improve the overall revenue through different channels and formats, but the results were still counterproductive.<\/p>\n\n\n\n<p>After Xi &#8216;an Qujiang took over, the situation has not been reversed. Although it continues to try to revive Renren&#8217;s performance from many aspects, including closing stores with no hope of loss, expanding supply chain forward and establishing independent supply chain, deepening fresh category management, increasing online layout, and trying to introduce Internet celebrity products in marketing methods, expanding live channels, and actively developing online, but in terms of specific retail business, it is still busy following the trend. Treat the symptoms rather than the root causes.<\/p>\n\n\n\n<p>For example, in 2021, Renren Le entered the warehouse member store, and landed three stores in Shenzhen, Tianjin and Xianyang within two months. However, the development trend of warehouse member stores as physical retail formats is not simply the pursuit of low prices, the core is more the pursuit of high cost performance, and the ability to lay member stores to supply chain and resources is higher, which is not a good way out for Renren, which has not been successful in exploring a variety of formats before.<\/p>\n\n\n\n<p>Compared with the four major formats of new hypermarkets, community life supermarkets, boutique supermarkets and member discount stores, the average store area difference between the first two is nearly 10 times, but the difference in efficiency is not large, and the so-called boutique supermarkets, their pingefficiency is only half of the hypermarkets.<\/p>\n\n\n\n<p>\u25b2 The store floor efficiency corresponding to the business format in 2021<\/p>\n\n\n\n<p>The sudden new coronavirus epidemic has become the last straw that overwhelms everyone&#8217;s joy. Indeed, Renren Le was once the hero of the industry, but in the face of e-commerce competition, slow response, blind trial and error of a variety of formats drag revenue, to today&#8217;s point, Renren Le is not wronged, want to solve the intractable disease, Renren Le must be in including channels and business strategy to scratch the bone therapy poison, thorough reform.<\/p>\n\n\n\n<p>Whether Renle can be truly redeemed is not yet known, but one thing is certain that the market has little time for Renle.<mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-white-color\">  CXO UNION-CXO\u8054\u76df\uff08cxounion.cn\uff09<\/mark><\/p>\n\n\n\n<p class=\"has-text-align-center has-cyan-bluish-gray-color has-text-color has-small-font-size\">\u7531<a href=\"http:\/\/cxounion.cn\">CXO UNION-CXO\u8054\u76df\uff08cxounion.cn\uff09<\/a>\u8f6c\u8f7d\u800c\u6210\uff0c\u6765\u6e90\u4e8e\u5feb\u5200\u8d22\u7ecf\uff1b\u7f16\u8f91\/\u7ffb\u8bd1\uff1aCXO 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