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Fengchao, express delivery and easy marriage, how to break through the last mile of domination?


Fengchao, express delivery and easy marriage, how to break through the last mile of “domination”?
Recently, Fengchao has frequently become the focus of the express delivery circle.After the Fengchao express cabinet charges, the express circle ushered in a big move at the end of the May Day holiday.On May 5, SF Holdings issued an announcement saying that Fengchao Network, a subsidiary of the company Fengchao Cayman, signed a package deal with China Post Zhidi and its shareholders, and China Post Zhidi will become a wholly-owned subsidiary of Fengchao Network.This means that Fengchao and China Post Zhidi, two smart express cabinet companies, will join forces to grab the last mile of express delivery.According to data from Tianfeng Securities Research, as of March 31, 2020, Fengchao cabinets accounted for about 44%, China Post Express accounted for about 25%, and Fengchao ‘s market share after the acquisition will reach 69%.Express expert Zhao Xiaomin said that as a unicorn company, Fengchao won the China Post Zhidi as “Express Delivery”, which will accelerate Fengchao’s siege in the country, which will be beneficial to the accelerated promotion of China’s express cabinets and the promotion of market size.It also shows that SF Express and related parties are absolutely optimistic about the express terminal solution, which provides an alternative basis for Feng Chao’s future IPO.Last year, billions of dollars, giants joined hands to snatch the last mile of express delivery. According to the Announcement on “Giving Up Priority to Capital Increase and Related Transaction of Joint Stock Companies” released by SF Holdings, Fengchao Network and China Post Zhidi and its shareholders China Post Capital, Santai HoldingsZhejiang Yibao and Mingde Holdings intend to sign a package deal agreement.After the completion of this transaction, the original shareholders of China Post Zhitong, China Post Capital, Santai Holdings, Zhejiang Yibao, and Mingde Holdings will reduce their capital and withdraw from China Post Zhitong, which will become a wholly-owned subsidiary of Fengchao Network.The former shareholders of China Post Zhidi (including the subsidiaries designated by the original shareholders) will have the right to subscribe for the newly issued shares of Fengchao Cayman and become shareholders of Fengchao Cayman.The restructuring heralds Fengfeng’s plan to make an important layout in the smart express cabinet market.The announcement stated that in order to enlarge and strengthen the main business of smart express cabinets, Fengchao integrates high-quality resources in the industry and quickly seizes the advantageous position of the last mile of express logistics.After the reorganization, SF Express will call it “Feng Chao” and China Post Zhi Recursive “Express Delivery” two smart express cabinets will become “Brother Union”.In terms of equity, the original shareholder of Fengchao was reduced from 100 to 71 in the new company.32%, of which SF controlling shareholder Mingde Holdings accounted for 36%.54%, SF’s shareholding ratio of Fengchao Cayman was reset by 13.67% reduced to 9.75%, the original shareholders of China Post Zhitong accounted for 28% of the new company.68%.China Post Capital, a subsidiary of China Post, will become the second largest shareholder of Xinfeng Nest, accounting for 18%.70%.Obviously, the smart express cabinet industry has always faced the general contradiction of profitability due to high costs and unclear profit models.The announcement also disclosed the recent status of Fengchao’s replacement.Fengchao Cayman’s statutory audit revenue from January to March 20203.3.4 billion US dollars, the audited net profit is generally expected to be about 2.4.5 billion, while revenue in 2019 was 16.1.4 billion, expected to be about 7.8.1 billion yuan.Under the rankings, China Post Zhidui’s recognized audit revenue from January to March 2020 was 70.21 million yuan, and the accepted audited net profit replaced approximately 1.5.9 billion yuan, and 2019 revenue 4.2.9 billion yuan, expected to be about 5.1.7 billion.Despite previous facts that are indisputable, Fengchao and China Post Express dominate the market.Fengchao official data shows that as of July 24, 2019, Fengchao has covered 100 cities and 150,000 smart express counter outlets in the country. Its market share in the first-line market of Beijing, Shanghai, Guangzhou and Shenzhen exceeds 70%.The processing capacity exceeds 10 million pieces.Relying on the advantages of China Post, China Post Express Co., Ltd. is widely deployed in low-tier cities.In the outbreak of the epidemic, the Spring Festival will be thawed, and the need to store tens of millions of express cabinets needs to be “married”. At the end of April, the Fengchao Express cabinet launched a membership system. The free cabinets used in the past will be charged in the future.This event triggered a heated discussion among netizens.Some users said, “Is Fengchao harvesting now?””?”According to the charging standard, ordinary users can keep user packages for 12 hours free of charge. After timeout, they receive 0 every 12 hours.5 yuan, 3 yuan capped, no charge for legal holidays.In fact, as a new business format, express delivery and bike sharing are both in the early stages of entering the market. They provide free services by burning money. After consumers become dependent and complete market education, they start charging.After China Post established the first smart packaging delivery diminishing terminal in 2010, the smart express cabinet industry entered the public eye.From 2012 to 2015, a large number of smart express cabinet enterprises were established, and the merged capital entered the bureau-in August 2012, Jingdong began to launch smart express cabinets, and in December of the same year, Courier Express was established; in 2013, Suning began to launch smart express cabinets, 2014The cloud cabinet was established every year.In 2015, SF, Shentong, Zhongtong, Yunda and Pros jointly invested in the establishment of Fengchao.At present, there are various forms of courier terminals, including couriers, courier supermarkets, post stations, intelligent courier cabinets, collection points, and co-location stations.Many insiders in the express industry said that the terminal has various forms. Although the smart express cabinet project has existed for many years, due to the difficulty of promotion and the high cost, each has not made a major effort in the smart express cabinet, but through the promotion of the epidemic and the countryThe post office has repeatedly issued documents, and the courier companies have once again put the end setting on the agenda.According to data from the State Post Bureau, it is expected that by 2020, the express box entry rate is expected to reach 20%, corresponding to the demand for express cabinet slots of about 76 million, and the market demand and potential are huge.But market demand does not mean that companies can quickly deploy and profitably develop.According to insiders in the express delivery industry, the layout of the terminal, especially the layout of the smart express cabinets in the community is extremely complex. The rental cost and the relationship cost are very high. “It is very sad to pass this property alone.”Huaxi Securities Research reported that the vigorous development of the transfer express industry in the future and the advancement of Fengchao’s membership system are expected to narrow the scope of change. At the same time, the transformation of Fengchao and several major express giants such as China Post Express will increase the scale effect.It is expected to be further improved.In this regard, express delivery expert Zhao Xiaomin said that changes in user consumption and response to emergencies are worthy of consideration by companies. The epidemic also exposed the lack of coordination in the terminal development inside the smart express cabinet, and the mutual participation is not high.At present, there is a big gap between the express cabinet market and tens of millions of groups. The express cabinet market will be upgraded and upgraded. In addition to normal temperature, cold-transported fresh meat can be placed;The express delivery cabinet market size will be ultra-geometric.Sauna, Ye Wang Cheng Zijiao editor Wang Jinyu proofreading Liu Baoqing