When Wal-Mart closed its stores, many China Resources Vientiane stores changed hands, Carrefour was acquired, and a series of physical retail giants collapsed in the Chinese market, this company was not only busy with an IPO, but the boss also ran a P2P platform with a collection agency.

Recently, there is news that Miniso, known as the "10 Yuan Store", is launching an IPO and plans to raise US$1 billion. Banks are currently being invited to intervene. Hong Kong or the United States may be the listing location.

Is the "Ten Yuan Store" going to be listed?

"Many people look down on so-called grocery stores, but Miniso is an A-share listed company with a performance of more than 90% in a year." - Ye Guofu

It is understood that Miniso Chuangyoupin had previously confirmed to the media that it had launched an IPO as early as January 15, 2018, but had not yet finalized the listing location and the amount to be raised. Ye Guofu once said that when Miniso launched its listing, he hoped to increase the company's channels for raising funds through social public offerings, thereby providing capital support for the expansion of its global business.

It is understood that Miniso has only received one financing since its establishment, that is, on September 30, 2018, with an investment of 1 billion yuan from Hillhouse Capital and Tencent Asset Management.

From the perspective of revenue and store conditions, according to the official website, Ye Guofu once said that Miniso’s revenue in 2018 exceeded 17 billion yuan, and it has opened more than 3,500 stores in 79 countries around the world. and regions, with more than 30,000 employees.

According to previous media reports, Miniso’s revenue from 2015 to 2017 was 5 billion yuan, 10 billion yuan and 12 billion yuan respectively; the number of stores were 1300, 1800 and 2000 respectively. Home.

In terms of future planning, according to the official website, Ye Guofu once said that Miniso will realize the plan of "hundreds of countries, hundreds of billions of stores" by 2022, that is, opening 10,000 stores in 100 countries stores, including 7,000 overseas stores, with annual revenue of 100 billion yuan.

Faced with the rise of e-commerce that is taking over the market, some news predicts that Miniso’s revenue will tighten significantly in 2019. Miniso stated that it will respond by continuously implementing the explosive product strategy. It is reported that at present, Miniso has a product development and design team of more than 1,000 people, and will develop 400 new SKU products every month.

However, as we all know, a single product can become popular in an instant, but it is difficult to become popular in the long term. Therefore, it is not clear whether Miniso’s explosive product strategy can seize market opportunities.

It’s hard to break through the door of plagiarism

“Do you know how Trump’s daughter responds to copycats? In the design world, we always just learn from each other, not imitate.”——Ye Guofu

Although Miniso’s morale is high as it strives for IPO and expands stores, it is difficult to avoid the original sin of “plagiarism”. I still remember the recent uniqlo co-branded model that was robbed, but because the trademarks were too similar, it fell into the joke of Miniso. It is reported that Miniso has been accused of plagiarism before because its trademark resembles that of Uniqlo.

In addition, Miniso’s store decoration style and display were accused of copying Muji. As early as November 2018, Shen Wenjiao, founder of home furnishing brand PIY, published an article titled "Elephants never sit on the floor!" An Open Letter to Mr. Ye Guofu" pointed out that the MiniHome brand under Miniso copied PIY's NUDE coat rack.

In response, Ye Guofu said that PIY is an act of speculation and fraudulent marketing. In addition, Miniso’s former brand agent Guangdong Baoyang Investment Management Co., Ltd. (has been cancelled) was involved in 65 legal actions, including infringement of Mentholatum (China) Pharmaceutical Co., Ltd., Shanghai Lockn&Lock Trading Co., Ltd., Shenzhen Litigation by Shizhong Innovation Technology Co., Ltd. and other companies.

As of now, Qichacha shows that Guangdong Saiman Investment Co., Ltd. (hereinafter referred to as "Saiman Investment"), the main company of Miniso, has issued a first-instance civil judgment for utility model patent infringement and ruled that Saiman The investment immediately stopped infringing the plaintiff's patent and compensated the plaintiff a total of 150,000 yuan.

It is understood that Saiman Investment has filed a total of 97 legal lawsuits, and the causes of the cases mainly involve infringement of design patent rights and infringement of the right to network dissemination of work information.

"The art of fighting each other"

"MINISO is the last piece of cake in the global retail industry." - Ye Guofu

Put aside "plagiarism" "Black History", Miniso's store expansion scale and future plans should not be underestimated. In addition to wanting to raise funds through an IPO, where does the cost of Miniso, which has only received one round of financing, come from? Attention-grabbing. In other words, Cheng Ye Guofu's left hand is Miniso Industrial, and his right hand is enjoying it in the financial field.

It is reported that Ye Guofu once said that he has created more than 30 mutual financial platforms with a total investment of more than 5 billion US dollars, including the P2P online loan platform "Fenlibao" and the cash loan platform "Money" and the debt collection platform “Everyone Collection”.

Previously, media reported that Ye Guofu designed a complex and huge capital package based on "MINISO", forming a closed capital loop with the help of P2P platform, cash loan anti-aircraft guns, deposit capital pool, etc. In addition, it also operates a collection business.

The Internet Finance News Center under Qi Finance learned that Guangdong Fenlibao Financial Services Technology Co., Ltd. (hereinafter referred to as "Fenlibao") was established in 2015. Ye Guofu is the earliest executive of this company. The controller, after the equity change, is currently held by Ye Guofu’s old subordinate Mo Jinyun as the legal person, and the major shareholder is Ashin Financial Technology Co., Ltd.

At present, Qichacha shows that Fenlibao is an innovative industrial Internet financial platform invested by Saiman Fund, and the actual controller of Saiman Investment is Ye Guofu.

As of June 30, 2019, the total transaction volume of Fenlibao was 5.893 billion yuan, the cumulative transaction volume was 2.6284 million yuan, and the lenders earned a total of 123 million yuan.

Previously, some media had questioned that Fenlibao was suspected of self-financing. Franchisees opened stores through Fenlibao financing with the help of physical stores or their own asset guarantees, and the funds obtained were used to pay Ye Guofu for the brand. Franchise fee and deposit, etc.

Although "Zirong" cannot be clearly defined, Fenlibao has publicly stated that it has formed a closed-loop financial ecosystem, covering more than 30 provinces across the country, and is an agency for chain institutions such as Miniso and Premium Products. The wages and reimbursements of more than 12,000 people, the settlements of more than 3,000 suppliers, and the settlements of more than 1,000 offline stores.

It is worth noting that Ye Guofu established Guangdong Queqianmo Network Technology Co., Ltd. (hereinafter referred to as "Quqianmo") in June 2015. In January 2016, Queqianmo established a subsidiary The company is Guangzhou Borrow Money Network Technology Co., Ltd. (hereinafter referred to as "Borrow Money").

The Internet Finance News Center searched the full names of the above two companies on Ju Complaints and found that *** was involved in 648 complaints. Most of the complaints were based on "usury, collection of huge profits," etc.

In addition, Ye Guofu established Renrenshou Credit Management Co., Ltd. (hereinafter referred to as "Renrenshou") in 2015. According to the official website, it has been established for more than a year and has existing assets of nearly 1.2 billion yuan. The collection academy was established in 2016.

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