Shulou(Shulou.com)11/24 Report--

After the problems such as the broken capital chain, the collective reminder of suppliers and the arrears of employees' wages were collectively exposed, the daily excellent fresh standing on the forefront of public opinion ushered in new news.

On August 23, Tech Planet reported that the convenience purchase business of Daily Youxian has been acquired by Shenzhen Daily convenience Technology Co., Ltd. According to key people close to the deal, the daily Youxian convenience purchase business was eventually acquired at a price of 30 million. At present, there are 14000 sets of equipment purchased every day, and about 8000 of them are in operation, which is equivalent to 2142 yuan per equipment.

A daily Youxiang middle-level believes that the price is a "cheap sale" on the grounds that Beijing Youxian convenient purchase Electronic Commerce Co., Ltd. has completed two rounds of financing, totaling 197 million US dollars, or about 1.347 billion yuan.

On July 28, the daily Youxian company was "disbanded in place" and announced the cancellation of the national express business and other news on the hot search. In order to achieve the goal of profit, the company adjusts its business and organization. Business such as Dada the next day, Wisdom Market and Retail Cloud will not be affected. Due to the business adjustment and the departure of some employees, the company is actively looking for all possible plans to maximize the protection of employees' rights and interests.

At the same time, daily excellent fresh App has been unable to place orders in many places, including Beijing, Shanghai, Tianjin and so on. There is still a display of goods in the App browsing interface, which can be reached the next day as soon as possible, and can be added to the shopping cart. Among them, some products are invalid after they are added to the shopping cart because they are out of stock.

In addition, on the pulse platform, most netizens who were certified as former daily Youxian employees posted: "the compensation for the last wave of layoffs in Youxian has been stopped, and the wages of serving employees in June and July have also been lost. Social security has been cut off. The top management is missing."

According to the Interface News, up to now, there are still employees whose wages have not been paid in June and July, and the social security and provident fund have also been cut off. In this regard, the Daily Youxian HRBP said that the social security provident fund in July will still be paid by the company, but it will need to be paid on its own in August, and the social security provident fund will be given priority over wages.

At present, Youxian has closed its business in Suzhou, Nanjing, Hangzhou, Qingdao, Shenzhen, Guangzhou, Jinan, Shijiazhuang and Taiyuan one after another.

Industry insiders pointed out that although the daily cumulative financing amount of Youxian exceeds 10 billion yuan, the heavy assets and high cost make it difficult for fresh e-commerce companies to make large-scale profits, coupled with the inability of the capital chain to keep up in time, which gradually leads to daily Youxian falling into crisis.

According to the financial report, the daily net loss of Youxiang from 2018 to 2020 was 2.232 billion yuan, 2.91 billion yuan and 1.65 billion yuan respectively. The total loss in three years is nearly 7 billion yuan. If you add in 3.018 billion of the loss in the first three quarters of 2021, the total loss is nearly 10 billion.

According to its latest financial disclosure, daily Youxian lost $151 million in the third quarter of 2021, up 58 per cent from a year earlier. In April, Daily Youxian said it was unable to release its 2021 annual report and set up an independent audit committee to conduct internal reviews of problematic transactions. In July, the daily Youxian announced that the review concluded that some income records were inaccurate and the employees concerned resigned. There have been several class-action lawsuits accusing Youxian of falsifying financial statements during IPO.

Sadly, Daily Youxian used to be the darling of many capital.

According to public information, from its establishment in 2014 to its listing in the United States in 2021, Youxian has received 10 rounds of financing totaling more than 11 billion yuan a day, including Tencent, Tiger, Goldman Sachs, CICC, Lenovo, Yuanyuan Capital and other star investment institutions. In its heyday, Youxian made five consecutive rounds of investment from May 2015 to March 2017.

It takes almost half a year to get a new round of financing, with a frequency that many startups envy, and a valuation as high as $3 billion at one point.

In terms of financing amount, since the completion of US $1000 A round financing in 2015, the daily follow-up financing scale of Youxian has exceeded 100 million yuan, totaling more than 10 billion yuan. There is more than one multi-billion-yuan financing event, including US $450 million in D-round financing in 2018, US $495 million in round F financing in July 2020, and 2 billion RMB strategic investment from the Qingdao Municipal Government guidance Fund at the end of 2020.

More than 10 billion yuan of financing, including the listing of IPO funds, has now been "burned out."

According to the financial report up to the third quarter of 2021, the total current assets of Youxian at that time was about 3.1 billion yuan, while the total current liabilities reached about 3.2 billion yuan, which made it insolvent. At that time, the daily excellent fresh is still expected to continue to lose money.

According to a previous report on Leifeng.com, in 2019, Xu Zheng, founder of Daily Youxian, realized that the whole situation of Daily Youxian was getting out of control: endless losses in core business, continuous decline in innovative business, collapse of daily word-of-mouth, and failure in the trial of the box horse model. At the same time, Tencent, which has invested in many rounds in a row, is no longer willing to give blood transfusions for Youxiang Daily.

Since then, the management led by Xu Zheng fell into a panic, cutting costs and raising money at the same time.

In terms of stock price, daily Youxian is also falling all the way.

Youxian went public in the United States every day in June 2021, but it was broken on the day of its listing. On June 25 last year, Youxian listed on NASDAQ at an offering price of $13. Since then, the share price has continued to decline. As of press time, Youxian shares are trading at $0.171 a day, down 98.7% from the offering price, with a market capitalization of only $40.31 million.

On June 25, 2020, Youxian was the first to go public in the United States, but suffered a break on the day of the listing. As of the day's close, Youxian shares were trading at $9.66 / ADS, down 25.69% from the offering price, with a total market capitalization of $2.274 billion. Then the share price fell all the way.

And the subscription means of the daily excellent fresh listing at that time once became the laughingstock of the industry. Daily Youxian listing, the market is generally not optimistic, superimposed the crisis of Chinese stocks, daily Youxian stock subscription is very difficult. At the same time, in order to grab the title of "the first share of community retail" with Ding Dong, the subscription ended ahead of time.

At its worst, not only did it report a difficult delivery in 2021, but its share price fell below $1 in March this year, attracting Nasdaq's attention and receiving a delisting letter.

At the same time, old shareholders are also starting to accelerate their selling and fleeing. 09:41 Eastern time on June 1, 2022, there was a super large order for 4.909 million shares of ADS in daily transactions, with a transaction price of 15 U.S. dollars, nearly 10 percent lower than the market price, with a total turnover of about 740000 U.S. dollars, accounting for about 10 percent of the total turnover for the day. Judging from the fact that one share of ADS is equal to three common shares a day, the old shareholder sold as many as 14.73 million common shares at a time. Li Zhaohui, managing partner of Tencent Investment, resigned from the board of directors of Youxian Daily in November 2021.

Welcome to subscribe "Shulou Technology Information " to get latest news, interesting things and hot topics in the IT industry, and controls the hottest and latest Internet news, technology news and IT industry trends.