There is not much time left for wanghong: Zhang Dayi failed to hold the first share of wanghong, and Li Jiaqi was punished

艾财经社方路

AI finance and economics society Fang Lu

编辑孙静

Editor Sun Jing

著名的网红张大一似乎没什么效果。网红的商业模式也面临被揭穿的危险。

The famous net red Zhang Da Yi seems to be ineffective. The net red business model is also facing the danger of being poked out.

11月25日，鲁恩举着"中国网络红色电子商务第一股"的旗号宣布公司私有化。距离纳斯达克去年敲响警钟仅19个月。

On November 25, ruhn holding the banner of "the first share of China's online Red e-commerce" announced the privatization of the company. It's only 19 months after NASDAQ rang the bell last year.

截至11月26日，若汉股价较12.50美元的发行价暴跌近77%。由于张大一和任如涵持有CMO，外界怀疑如涵控股的成功及其迅速衰落，是否与严重依赖张大一的排水功能有关。

By the end of November 26, ruuhan's share price had plummeted nearly 77% from its offering price of $12.50. Due to Zhang Dayi and Ren Ruhan holding CMO, it is doubted that the success of Ruhan holding and its rapid decline are related to the serious dependence on Zhang Dayi's drainage function.

谁能把握网络红的生命力？

Who can grasp the vitality of Internet red?

"2016年绝对是张大一的时代"，在一部名为《网络名人》的纪录片中，"淘宝第一网络名人"张大一充满自信，这一点不亚于目前炙手可热的李嘉琪和伟亚。

"2016 is definitely the era of Zhang Dayi." In a documentary called "online celebrity", Zhang Dayi, the "Taobao No.1 online celebrity", is full of self-confidence, which is no less than Li Jiaqi and Weiya, who are hot at present.

不幸的是，四年后，风向变了。鲁汉控股发布的2021财年第二季度财务报告也可以看出这一点。财报显示，如烟控股二季度营收为2.485亿元，同比下降9%。归属于母公司的净亏损3120万元。鲁汉自营业务销售收入1.292亿元，同比下降37.9%。

Unfortunately, four years later, the wind changed. This can also be seen from the Q2 financial report of fiscal year 2021 released by Ruhan holdings. According to the financial report, the second quarter revenue of Ruhan holdings was 248.5 million yuan, down 9% year on year. The net loss attributable to the parent company was 31.2 million yuan. The sales revenue of Ruhan's self operated business was 129.2 million, with a year-on-year decrease of 37.9%.

正是在上述背景下，如烟控股的私有化来得出人意料。

It is against the above background that the privatization of Ruhan Holdings has come unexpectedly.

电子商务研究中心网络零售部主任、电子商务研究中心高级分析师莫代青对艾财经社记者说："虽然如烟在努力培养新的名人，公司的大部分收入都是由张大一和其他知名网络名人创造的，这一点仍然让人纠结。其他名人的收入仍然太少。此外，自上市以来，如果公司市值进一步缩水，且没有得到资本市场的充分认可，那么民营化之路就成了意料之中的事情。"

Mo daiqing, director of the online retail department of the e-commerce research center and senior analyst of the e-commerce research center, told AI financial news agency: "although Ruhan is trying to cultivate new celebrities, it is still trapped in the fact that most of the company's revenue is created by Zhang Dayi and other leading online celebrities. Other celebrities are still generating too little revenue. In addition, since listing, if the market value of the company has further shrunk, and it has not been fully recognized by the capital market, the road of privatization has become an expected thing. "

与如烟控股的情况稍有不同，今年以来，直播电子商务更是"二次爆发"成为新的增长点。根据中国电子商务研究中心发布的《2020年（第一次）中国电子商务实时数据报告》电子商务网，上半年，直播电子商务交易规模达到4561.2亿元，预计达到9712.3亿元，已接近万亿元大关。

Slightly different from the situation of Ruhan holding, since this year, live e-commerce is "secondary explosion" to become a new growth point. According to the "2020 (first) China live e-commerce data report" released by the e-commerce research center of ecommerce.com, in the first half of the year, the transaction scale of live e-commerce reached 456.12 billion yuan, which is expected to reach 971.23 billion yuan, which is close to the trillion mark.

莫代青认为，李嘉琪、韦亚等主播在流量竞争方面给鲁汉造成了很大的压力，而鲁汉在网络摄像头主播头上的优势并不明显，他们并没有很快很好地适应新的直播电子商务环境。

Mo daiqing believes that Li Jiaqi, Weiya and other anchors have caused great pressure on Ruhan in terms of traffic competition, while Ruhan's advantages in the head of the webcam anchor are not obvious, and they have not adjusted well and adapted to the new live e-commerce environment soon.

据中国互联网络信息中心数据显示，截至2020年3月，我国电子商务实时用户数已达2.65亿。根据iimedia research的数据，到2021年，电子商务直播市场规模将达到12012亿元。现场送货前景看好，但旺红随时可能倒闭或死亡，这给希望依靠网络红的上市公司带来风险。

According to the data of China Internet Network Information Center, as of March 2020, the number of live e-commerce users in China has reached 265 million. According to the data of iimedia research, the market scale of e-commerce live broadcasting can reach 1201.2 billion yuan by 2021. The prospect of live delivery of goods is booming, but wanghong may collapse or die at any time, which brings risks to listed companies that hope to rely on online red.

今年1月，新文化（300336）公告称，公司已与美建（上海）网络技术有限公司签署框架协议，并与作为货物载体的李嘉琪达成战略合作。此次合作的目的是"加强与客户的联系，加强网络媒体渠道的推广和宣传"。双方合作期限为2020年1月1日至2020年12月31日。

In January this year, new culture (300336) announced that it had signed the framework agreement with Meijian (Shanghai) Network Technology Co., Ltd., and reached a strategic cooperation with Li Jiaqi, who was the carrier of goods. The purpose of the cooperation is to "enhance its connection with customers and the promotion and publicity of online media channels". The term of cooperation between the two parties is from January 1, 2020 to December 31, 2020.

今天，双方的合作还没有到期，但曾经让新文化的股价连续获得五个限量牌的"口红兄弟"第一次翻车。11月20日，中国消费者协会官方账号发布"双11"活动期间消费者维权舆情分析报告。著名主持人汪涵、李佳琪、脱口秀演员李雪芹被点名。至于李嘉琪，报道中提到，一些消费者在直播室购买商品后想换货，遭到拒绝。商家提供的唯一解决办法就是退货。这种售后服务让消费者很不满意。

Today, the cooperation between the two sides has not yet expired, but the "lipstick brother" who once let the stock price of new culture obtain five limit plates in succession has turned over the car first. On November 20, the official account of the China Consumer Association released an analysis report on public opinions on consumer rights protection during the "double 11" campaign. Wang Han, the famous host, Li Jiaqi, and Li Xueqin, a talk show actor, were named. As for Li Jiaqi, it is mentioned in the report that some consumers who want to exchange goods after purchasing goods from their live broadcasting room are rejected. The only solution provided by the merchants is return. This kind of after-sales service makes consumers quite dissatisfied.

此外，据天涯查app统计，持有李嘉琪49%股权的上海庄家电子商务有限公司曾被处以1万元行政处罚，违规类型为"发布虚假广告"。

In addition, according to tianyancha app, Shanghai Zhuangjia e-commerce Co., Ltd., which owns 49% of Li Jiaqi's shares, was once punished by an administrative penalty of 10000 yuan, and the type of violation was "publishing false advertisements.".

2020年5月，梦洁（002397）与千寻文化淘宝主播微雅签署战略合作协议。蒙捷股份因此一度上涨7个涨停板，市值超过30亿。但后来，梦洁股份透露，维雅总共3次直播只携带812万元，随后梦洁股价一度超过40%。

In May 2020, Mengjie (002397) signed a strategic cooperation agreement with Weiya, Taobao anchor of Qianxun culture. Mengjie shares therefore once gained 7 trading limits, with a market value of more than 3 billion. But later, Mengjie shares revealed that Weiya only carried 8.12 million yuan in total three live broadcasts, and then Mengjie's share price was once more than 40%.

尤其是目前，网上红包带货现场送货处于乱象阶段，随时可能被放大。

Especially at the moment, online Red live delivery with goods is in the stage of chaos, which may be amplified at any time.

比如，今年11月8日，明星杨坤被曝光用商品伪造现场数据，实际销售额不足1%，遭到商家集体批评。

For example, on November 8, this year, star Yang Kun was exposed to have falsified live data with goods, and the actual sales volume was less than 1%, which was collectively criticized by businesses.

其中一位商户说，他已经付给杨坤10多万元。他原以为杨坤一晚就能带来几十万到几百万元的营业额，但他没有退还成本，也没有赚到成本。

One of the merchants said that he had paid more than 100000 yuan to Yang Kun. He had thought that Yang Kun could bring in hundreds of thousands to millions of yuan in turnover one night, but he did not return the cost, nor did he earn the cost.

商业信心从何而来？他们说，杨坤的前两个节目显示，他的"一次直播的销售金额是3000万元"，按照这个计算，每家企业可以获得100万元的回报。

Where does the business confidence come from? They said that Yang Kun's first two shows showed that his "sales amount of a live broadcast was 30 million yuan", and based on this calculation, each business can get a return of one million yuan.

杨坤没有能力投诉直接送货，他也被曝光了"严重的拒付行为"。据公开报道，一位要求杨坤带货的阿胶糕商称，杨坤当晚在直播中卖出高达120万元，但两天内就退款110万元。而且，这些买家并没有买一两袋，而是一次买了几十袋，没有收到优惠券。这种异常现象被质疑为明显的"刷单行为"。但对于这个问题，直播经纪公司和杨坤经纪团队均予以否认。

Yang Kun, who was poorly equipped with the ability to make complaints about direct delivery, was also exposed to the "serious brush off behavior". According to public reports, a donkey hide gelatin cake merchant who asked Yang Kun to bring the goods said that Yang Kun sold as much as 1.2 million yuan in live broadcast that night, but 1.1 million yuan was refunded within two days. Moreover, these buyers did not buy one or two bags, but bought dozens of bags at a time without receiving preferential coupons. This abnormal phenomenon was questioned as an obvious "order brushing behavior". But to this question, the direct broadcast brokerage company and the Yang Kun brokerage team all denied.

事件发生后，杨坤的经纪人杨钰表示，直播只是杨坤的"副业"。如果达不到预期，收入也不好，他就不再参加了。"毕竟，艺术家的焦点还是在音乐上。不知道这个解释是否能消除这些企业的愤怒。然而，如果采取"盲人捆绑骗子坑蒙拐骗"的方式进行现场送货，只会改变电子商务的直播品位。

After the incident, Yang Yu, Yang Kun's agent, said that live delivery was only Yang Kun's "sideline business". If he did not meet the expectations and the income was not good, he would no longer participate. "After all, the focus of artists is still on music.". It is not known whether this explanation can eliminate the anger of these businesses. However, if live delivery is carried out by the way of "blind people binding cheaters to pit fools", it will only change the taste of live e-commerce.

对这种模式不满的不仅是企业，还有消费者。目前，大部分直播平台不提供直播播放功能，消费者在出现问题后往往没有直接的维权证据。

It is not just businesses who are dissatisfied with this model, but also consumers. At present, most of the live broadcast platforms do not provide live playback function, and consumers often have no direct evidence to protect their rights after problems occur.

《意见》以"网络直播营销中售后服务保障不力"问题为例，要求依据《中华人民共和国消费者权益保护法》进行监管，查处修理、更换、退货、补货等违法行为货物数量、退还货款和服务费或赔偿损失、故意拖延或无理拒绝。

Taking the problem of "poor after-sales service guarantee in live network marketing" as an example, the opinions require supervision according to the law of the people's Republic of China on the protection of consumers' rights and interests, and to investigate and deal with the illegal acts such as repairing, replacing, returning goods, making up the quantity of goods, refund of payment for goods and service fees or compensation for losses, intentional delay or unreasonable refusal.

商品直播乱象整治后，行业是否会回归理性？莫代青告诉艾财经社记者，经过之前的快速增长期，直播电子商务目前正处于重塑阶段。锚定资源和产业链上下游需要进一步整合。在协调产业角色之间的分工和凝聚力方面，仍然有一个相对统一的标准。

Will the industry return to rationality after the chaos of live broadcast with goods is rectified? Mo daiqing told AI finance and economics news agency that after the rapid growth period before, the live e-commerce is now in the stage of remodeling. The resources of the anchor and the upstream and downstream of the industrial chain need to be further integrated. There is still a relatively unified standard to coordinate the division of labor and cohesion between the industrial roles.

本文原由《财经天下周刊》报道的艾金融社出品。未经许可，请勿在任何频道或平台转载。违者将被起诉。

This article is originally produced by AI financial news agency, an account of Caijing Tianxia weekly. Please do not reprint it from any channel or platform without permission. Violators will be prosecuted.

Link：https://new.qq.com/omn/20201201/20201201A04JI100.html

update time：2020-12-01 14:48:12