"We don't produce water, we are porters of nature"
On September 8th
Nongfu Spring was officially listed on the Hong Kong Stock Exchange
On the first day of listing, Nongfu Spring opened higher at HK$ 39.8, up 85.12% from HK$ 21.5, with a total market value of HK$ 445.292 billion. The founder of the company, Zhong Guo, holds 84.4% of the shares, and he also holds 74.23% of the shares of Wan Tai Bio, a A-share listed company. At one time, he surpassed Ma Yun and Ma Huateng and became the new richest man in China. However, with the share price of Nongfu Spring falling after the opening, the richest man in Zhong Shanshan only worked for half an hour. However, the matter of being the richest man for half an hour is of great significance in itself.
Nongfu Spring has become the largest consumer stock in Hong Kong stock market value
Nongfu Spring's listing in Hong Kong this time has been strongly sought after by the market, and it is rare for new shares in Hong Kong stock market to rise so much. Although it opened higher and went lower, it finally closed at HK$ 33.1 on September 8, but it still rose by 53.95% compared with the issue price.
Share price chart of Nongfu Spring
Based on the closing price, the total market value of Nongfu Spring is HK$ 37.3 billion, ranking 22nd in the Hong Kong stock market, slightly lower than China Offshore Oil, surpassing Budweiser Asia Pacific, becoming the number one consumer stock in the Hong Kong stock market. Before Nongfu Spring, the companies are finance, oil and several famous technology network companies (including Alibaba, Tencent, Meituan and JD.COM).
Nongfu Spring, which sells water, is really profitable. According to the prospectus, the gross profit margin of packaged drinking water in 219 was as high as 6.2%. From 217 to 219, the income of Nongfu Spring was 17.491 billion yuan, 2.475 billion yuan and 24.21 billion yuan respectively, with a compound annual growth rate of 17.2%; The net profit was 3.386 billion yuan, 3.612 billion yuan and 4.954 billion yuan respectively.
Nongfu Spring Co., Ltd. IPO prospectus of Hong Kong stocks
After the surge, Nongfu Spring's valuation is not low. Based on the closing price on the first day of listing, the static P/E ratio is 66.97 times, which is quite high in Hong Kong stocks.
Such a high valuation reflects the market's pursuit of consumer companies, and Nongfu Spring has maintained the first market share of packaged drinking water in China for eight consecutive years, and the market has also given an overvaluation.
A-share and Hong Kong-share consumer stocks are both sought after
This situation is not only Nongfu Spring, but also Haidilao, a leading catering enterprise, which rose from HK$ 17.82 when it went public in September 218 to HK$ 51.45 on September 8 this year, with an increase of 188% in two years. At present, the static P/E ratio of Haidilao has reached 14 times. Zhang Yong, founder and chairman of the board of directors of Haidilao, and his wife Shu Ping have been naturalized in Singapore. In mid-August, Forbes released the list of Singapore's richest people, and Zhang Yong and his wife were firmly at the top of the list with a net worth of $19 billion.
In the A-share market, based on the closing price on September 8, the market value of Haitianwei, which produces soy sauce, was 546 billion yuan, surpassing China Petrochemical and ranking 11th in the A-share market. At present, the dynamic P/E ratio of Haitianwei is as high as 83.94 times. The stock market value of liquor is even greater, with Kweichow Moutai ranking first in A shares with a market value of 2.15 trillion yuan, and Wuliangye surpassing China Petroleum with a market value of 861.4 billion yuan, ranking ninth in A shares.
Consumer stocks in Hong Kong stock market and A-share market both rose sharply, and their market values surpassed those of traditional large-cap companies such as finance and oil, which actually reflected their optimism about the potential of China's consumer market. Of course, at present, consumer stocks are indeed overvalued, and some research institutions have released research reports that these stocks are not suitable for buying. Haitian weiye has fallen sharply for three consecutive days since last Thursday. Nongfu Spring is also high and low, and there is uncertainty about its future trend.
Grassroots entrepreneurs can also succeed
Consumer stocks, especially food and beverage companies, have soared, resulting in a group of new rich people. Although Zhong Shanshan of Nongfu Spring has only been the richest man for half an hour, he is still the top three richest people in China. Moreover, Nongfu Spring suddenly gave birth to dozens of billionaires.
This has provided opportunities for many grass-roots growth enterprise markets. Interestingly, some entrepreneurs of consumer companies are not highly educated, so they are called Zhong Rong, the founder of Nongfu Spring.
Zhong Shanshan was born in 1954. He dropped out of school in the fifth grade of primary school. After resuming the college entrance examination, he failed to take the college entrance examination for two consecutive years, and finally he had to join RTVU.
In 1984
In 1988, the establishment of Hainan Special Economic Zone set off a wave of gold rush in Hainan, and Zhong Shanshan resolutely went to Hainan.
In 1993,
Zhong Shanshan established Health Care Hall, a health care product company, and earned 1 million yuan a year with turtle pills.
In 1996,
Nongfu Spring Co., Ltd. was established in Hangzhou, and famous domestic beverage brands such as Nongfu Spring, Nongfu Orchard and Scream were created.
In 21,
Zhong Shanshan spent 17.1 million yuan to buy 95% equity of Wan Tai Bio. Wan Tai Bio's main business is to make in vitro diagnostic reagents and vaccines.
In 22,
Zhong Shanshan began to enter the capital market. In April, Wan Tai Bio brought more than 8 billion yuan of wealth to Zhong Shanshan. With the listing of Nongfu Spring, he became the top three in China's rich list.
Zhang Yong, the founder of Haidilao, was also born at the grassroots level. He was born in Zhang Yong, Jianyang County, Sichuan Province in 1971. Because his family was in financial difficulties at that time, he could not support his studies, and his junior high school performance was not outstanding, so he studied electric welding in a technical school under the arrangement of his parents. Becoming a welder after graduation, the highest education is only secondary school.
In 1994, Zhang Yong found three of his best friends at that time, pooled 8, yuan, bought four hot pot tables, and prepared to run a hot pot restaurant. In this way, the first Haidilao opened. When it went public in 218, the number of restaurants in Haidilao had reached 32. In terms of revenue in 217, Haidilao ranked first in the global Chinese catering industry.
There is also Zhongyin Babi Food Co., Ltd., which has been approved by the issuance and examination committee of the China Securities Regulatory Commission. The founder Liu Huiping is a junior high school student from Anhui. In 1998, he went to Shanghai with 4, yuan. After the first failure to open a steamed bun shop, he persevered and opened a "Master Liu's big bag" store on Nanjing Road, and gained a firm foothold with a steamed bread of 7 cents. Subsequently, "Bobby Steamed Bread" opened more and more, and will soon become a listed company.
At present, the founders of a number of famous science and technology network companies in China, such as Ma Huateng, Ma Yun, Lei Jun and Li Yanhong, all graduated from universities, and many of them are schoolmasters. Highly educated favored people can succeed in starting a business, while grassroots entrepreneurs like Zhong Shanshan, Zhang Yong and Liu Huiping who have no high education and background can also succeed with their hands, which shows that the market is fair, and their being on the rich list can encourage more people to start a business.
Gold Coast Studio
Author | Lian Jianming
Pictures | Network
Compilation | Beam Group