I really like the words that Mark Twain wrote - 'It’s not ignorance that makes us in trouble, but ridiculous judgments that seem correct.' Now this sentence has many new interpretations, in all aspects of the business environment. It is fermenting fully.
From June 29 to July 5, this nearly a week, the development of Vantage's (002035) dealers' running events can be described as a peak. The voice of public opinion once shifted from the model of the sick food sales to the Central Olympics. The pressure on the 'French wins refund'. However, we have not seen any real-discovery or even a little bit of dry-supported data deduction.
Among the overwhelming negative energy, the only thing that can catch the wind is that Vantage’s share price has been attacked after the news has just been exposed, but it has been linked to the environmental impact of the recent downturn in the broader market. This little causal relationship has also become rampant.
After the incident, we did not rush to speak for two reasons.
First of all, from the news that was exposed in the early stage, there is too little effective information available. The media used in the report is vague and the concept is vague. It is extremely unprofessional in terms of news and business commentary. Sales Co., Ltd. and Tianjin Vantage Gas Appliances Sales Co., Ltd. were seized at the same time, quoted the dealer letter from unknown source (you have not read it wrong, this time the business problem even wrote a letter) will turn the finger to the brand channel to suppress the goods.
At the same time, some sources commented on the impact of the incident on Vantage's shares, and they would be associated with the loss of the seized property and the loss of Vantage shares. Due to this illogical argument, we can basically affirm that these sources lack the kitchen appliance industry. As well as the basic understanding of the Vantage model, Vantage's online sales mainly use the agency model, instead of choosing a distributor to establish a joint venture sales company in various regions like Gree Electric. The economic problems caused by the dealer's personal business behavior are no matter what. It is not related to the brand side.
Even if there are some Vantage products in the sealed assets, Vantage and the dealers have always paid for the goods in the process of cooperation. This part of the pledge goods will not cause property losses to Vantage itself.
So when Vantage’s announcement on the incident and the board of directors of the World Cup marketing plan came out, even some good people were interested in it. Obviously, this matter has come to an end, the media has not been able to pick up any storms, Vantage will still be these two The biggest marketing winner in the month, it looks like business as usual, the kitchen appliance industry is still beautiful.
But in fact? We must face the repulsive forces that exist in the industry again. It will give us the wrong information, influence our judgment, and even spread to the capital level to face the impact of listed companies. This is for the increasingly tense market economy. It is worthy of vigilance and reflection.
What is the biggest problem of Vantage this time? It may be in the fall of the stock price. This gives many negative voices a chance to make a fuss. The most repulsive force with the blue-chip stocks is the sensitive and unpredictable tension. In the discussion of the market will not fall below 2800 points, we have a positive attitude, but at this festival, on the one hand, Vantage dealers ran away, on the other hand, Vantage shares fell by 5%.
Some people interpret this as the sensitivity of the capital market, so companies can't have similar negative news. But in fact, the overall home appliance sector also fell in the current round of decline, while the decline also has profitability. Vantage is just the opposite The profitability of Vantage, which is in the high-speed rising channel, has been rising year by year, and has become one of the top three domestic kitchen appliances.
Therefore, even if the market is sensitive, the business behavior of such channels will not cause the organization to respond. From the perspective of turnover rate, the sensitivity of retail investors to this incident has not been as intense as that of some media analysis. Therefore, from an investment point of view, what we need to do more is to insist on value judgment, and small and medium-sized investors are cautiously speculative.
On the other hand, the market is still very noisy. The fact that technology genres are in conflict with each other is actually not a good thing. Consumers are willing to see the Romance of the Three Kingdoms in the transformation of the consumer environment. Brands are always good for people and everyone. But we What must be ignored is the trend and direction.
Just like Vantage advocates the fashion concept, which is in line with the consumption habits of the new middle class. At the same time, Vantage redefines this part of the people into the wealthy class. This is also in line with the idea of overall consumption upgrading. In this process, eliminate and abandon a batch of followers. The channel power of the rhythm has far-reaching significance for the improvement of the brand structure and the optimization of the channel structure. If this change is interpreted as the pressure from the brand side, it is too biased.
The rules of the business world are necessary and sufficient conditions. On the contrary, some repulsive forces often cannot withstand scrutiny. As an industry observer, we hope that more people can see the facts and trends in the face of similar events, and be wary of industry repulsive Existence, jointly create a benign, reasonable market environment.