I don't know if you still remember this advertisement-Ronaldo, the king of the ball, wore a jersey with "Golden Throat Piece" printed on it, and smiled with simplicity. With the sound of BGM, Cristiano Ronaldo made a clean shot, and the football flew out in an instant and turned into a golden pill. At this point, the deep and deep narrator said, "To protect your voice, please use golden throat tablets, Guangxi golden throat."

This magical advertisement was once screened on CCTV, and Golden Sonzi enterprises became popular all over the country overnight, making numerous profits.

however, times have changed, things have changed, and how brilliant it used to be, how lonely it is now.

in August, 221, Jinzizi announced the suspension of trading and privatization successively, that is to say, the company will be delisted after only six years of listing.

recall that on July 15th, 215, Jinzizi was listed on the Hong Kong Stock Exchange, with a market value of HK$ 6.3 billion at its peak. However, in the following years, the market value has been shrinking. Up to now, the market value has been announced to be less than HK$ 2 billion, which is nearly 9% lower than the highest period!

Not only that, Jin Zizi is also deeply involved in many lawsuits, and its head, Jiang Peizhen, has even become what others call "Lao Lai" and has been restricted from spending too much ...

What's going on? Listen to the ronin. I'll talk to you.

The history of Jinsizi brand can be traced back to 1994. It was once praised as "National Throat Film" by Chinese people, but unexpectedly, it started as a candy maker.

When we talk about Golden Voice, we have to mention its founder Jiang Peizhen. According to her biographical work "China Woman Jiang Peizhen", Jiang Peizhen was born in a poor family in Pingnan, Guangxi in 1946. When her mother died of illness at the age of 13, she dropped out of school and worked as an apprentice in Liuzhou Candy Factory No.2 to earn money to support her family. In this way, she became the No.48 worker in Liuzhou Candy Factory No.2..

At that time, Jiang Peizhen was young, but his mind was very flexible. When others were cut all over their hands with candy paper, she came up with a new way, which was not only efficient, but also time-saving and labor-saving. There were many similar things. She stood out quickly and was appreciated by the leaders. She was promoted all the way, from an ordinary worker to a workshop director and a trade union member ... At the age of 18, she had already achieved the position of deputy director in charge of the work. At the age of 33, she officially became the head of the second candy factory.

after she became the factory director, she even dared to think and do it. Under her auspices, the No.2 Candy Factory abolished the "big pot" system and linked performance with wages. After a series of measures, the enthusiasm of workers and the output and sales performance of the factory soared. By 1984, the annual output of the No.2 Candy Factory reached 16,5 tons.

With this innovative spirit, Jiang Peizhen has transformed the No.2 Candy Factory from a local small enterprise into the number one candy factory in China in less than ten years. By 1988, the factory's output value reached more than 97 million yuan, and 1 economic indicators ranked first in the same industry in China.

however, the good times did not last long. In the 199s, there was a wave of resignation of civil servants in China, and a large number of people started businesses in the sea.

At that time, some industries had low barriers to entry. In order to quickly squeeze into the market, many small workshops chose to follow suit. As a well-known candy brand in China, Liuzhou Candy Factory No.2 naturally became the target of shanzhai. Better than the second candy factory, it has not been able to survive this wave of "fake goods" and is on the verge of bankruptcy.

Some people advised her to jump ship quickly, and some coastal private enterprises were willing to pay 2, yuan a month to hire her. You know, at that time, pork was only over 2 yuan a catty, but she was still unmoved.

Fortunately, God never shuts one door but he opens another. Jiang Peizhen and her No.2 Candy Factory soon got the advice from the nobles.

In 1993, when Vice Premier Zhu visited Liuzhou, Jiang Peizhen hit the nail on the head at the entrepreneurs' forum, complaining that "there are many fakes!" She expressed the hope that the state would step up anti-counterfeiting and improve the protection of intellectual property rights. After listening to this, Vice Premier Zhu praised it and said,

"High-tech products cannot be copied by ordinary enterprises. You have to go to colleges and universities and scientific research departments in Shanghai to make some friends. "

Jiang Peizhen was greatly inspired when she woke up the dreamer. She immediately took all her factory savings of 7, yuan and began to travel to various universities in Shanghai to find a life-saving remedy for the candy factory.

In July of that year, Jiang Peizhen stood at the gate of East China Normal University, where she met another noble person-Wang Yaofa.

Wang Yaofa is a professor at the College of Life Sciences of East China Normal University, and he is developing a prescription for treating chronic pharyngitis. Professor Wang is also a frank person, claiming to be moved by Jiang Peizhen's enthusiasm and frankness, so he transferred the formula for free.

In order to show his determination to be a golden voice, Jiang Peizhen also burned his bridges, smashed all the boilers and utensils in the candy factory, took the lead in taking out all the savings of 15,8 yuan, and called on all employees to raise funds together. Finally, 7.8 million yuan was collected in one month, making the sugar factory smoothly transformed into a pharmaceutical factory.

At the end of 1994, Guangxi Jinzizi Pharmaceutical Factory was formally established. At the same time, OTC products suitable for relieving dry throat caused by acute pharyngitis were introduced and named as "Jinzizi throat tablets". In order to reciprocate, Jiang Peizhen also imitated Southeast Asian tiger balm and safflower oil products, and printed the portrait of Professor Wang Yaofa on the product packaging to show its gratitude.

In 1995, Jiang Peizhen lavished 5 million yuan to advertise in the prime time of CCTV, which made the golden voice a super explosion and spread all over the country. In 1996, the revenue of Jinsizi exceeded 1 million, which became a best-selling product in the whole country and also successfully ranked among the top 1 pharmaceutical enterprises in China.

however, no matter what you do, pushing too hard will always bring back the bite. As the old saying goes: "When the water is full, it will overflow, and when the moon is full, it will lose money."

It was Ronaldo's muddled "endorsement" that made Golden Voice truly famous in World War I..

In 23, Ronaldo came to China with Real Madrid Club to play a game with Jianli Baolong Team. Jiang Peizhen realized that this was a great opportunity to promote the golden voice, so she told C Ronaldo through an intermediary that she would get an appearance fee of $3, for attending a banquet.

in the face of such a good thing, C. Ronaldo naturally agreed without hesitation.

At that time, at the banquet, Jiang Peizhen put him in a jersey with the logo of Golden Voice and took photos, but then Golden Voice publicized the photos and videos at the banquet as advertisements and broadcasted them on CCTV for nearly four years.

Jiang Peizhen traveled all over the Middle East and Europe with a golden voice, and never forgot to show Ronaldo's commercials everywhere.

This advertisement has also successfully opened up the international market of Golden Voice.

because the internet was not developed then, Ronaldo didn't know about it until 25. At that time, when a China businessman went to Real Madrid to discuss the advertising business, he asked C Ronaldo why he received the advertisement of Golden Voice. After learning the ins and outs of the matter, C Ronaldo was so angry that he broke a chair on the spot and fired his agent.

Later, it was reported in the news that the endorsement advertisement released by Jin Zizi was not approved by C Ronaldo himself, and he did not sign any contract with Jin Zizi, which led to disputes between the two sides.

However, this statement was denied by Jin Zizi, who claimed that he and Ronaldo signed an authorization agreement for product image spokesperson. Every year, the company expressed its intention to continue cooperation to Ronaldo through the person in charge of Ronaldo's designated business promotion company in China, and paid relevant fees to the company as agreed in the agreement.

Ronaldo later said, "At that time, I only knew that a rich and respected company invited me to dinner, so I went. Now I believe that they are rich, but I never believe that they are respected. "

in 27, Ronaldo sued Jin zizi, but later, considering the high cost of transnational rights protection, he gave Jin zizi a second publicity, so the endorsement of "Rashomon" was dropped.

In August of the same year, in order to save the brand image (probably for just Cristiano Ronaldo), Jinsizi announced that he had signed Cristiano Ronaldo's teammate Kaka as the company spokesperson at a cost of 14.3 million yuan.

With the influence of superstar aura and mother-in-law, Jinsizi got a bonus in marketing, which established its dominant position in the domestic throat-moistening OTC market.

In July 215, Golden Voice was listed in Hong Kong, and Jiang Peizhen became a billionaire by virtue of his company shares.

It is worth mentioning that, after the listing of Golden Voice, the head of Professor Wang Yaofa on the box was quietly replaced by the head of Jiang Peizhen. According to her, this is to consolidate the market position and image and avoid the risk of potential interest disputes.

however, in branding, the logo and icon of a brand are all important parts of the brand, and once they are changed, they will have a great influence on the brand. This "head-changing" operation once made consumers think that the golden voice was a fake.

this is undoubtedly a big mistake.

After landing on the Hong Kong Stock Exchange, Jinzizi became one of the few listed companies in Liuzhou, Guangxi, with a market value as high as HK$ 6.3 billion at its peak.

however, after consulting the financial reports of Jinzizi over the years, it is found that from 216 to 22, the company's revenue was 768 million yuan, 624 million yuan, 694 million yuan, 797 million yuan and 647 million yuan respectively, of which the marketing expenses were maintained at about 3 million yuan every year, accounting for more than 4% of the revenue, while the investment in R&D was 1.98 million yuan and 29 respectively.

in addition, according to the 22 annual report, "since 1994, the group has successfully developed 31 new products", "among which 8 are medicines, 21 are foods, 1 is health food and 1 is medical device products." The same speech has been repeated six times since 215.

that is to say, in the years after the listing of Golden Voice, nothing has been developed. And according to its financial reports over the years, almost 9% of its revenue comes from golden throat tablets every year.

Therefore, it can be seen that behind the singleness of Jinsizi products, the company's imbalance in R&D and sales. In order to solve the problem of product simplification, Jinzizi also tried to take a diversified road and launched a herbal beverage, which mainly focused on the function of clearing throat and moistening throat.

After the product went on the market, negative comments were overwhelming. Some netizens said: It's the worst in history. You'd better make a throat tablet honestly.

So what about Jiang Peizhen becoming what others call "Lao Lai"?

In 216, Golden Voice cooperated with Star Media, who acted as an advertising agent to put advertisements for Golden Voice in the music variety Heroes on Earth and The Masked King of Songs Season 2.

However, after the advertisement was broadcast, Golden Voice refused to pay the remaining advertising fee because it did not recognize the program ratings. After several unsuccessful requests, Star Media took Golden Voice to court.

In November, 219, Jin Zizi was listed as "the person who broke his promise" by the Shanghai Higher People's Court because he owed Star Media an advertising fee of 51.67 million yuan, and Jiang Peizhen was also listed as "the person who restricted consumption", and it was stated that the specific behavior of the person who broke his promise was:

He had the ability to perform and refused to perform the obligations specified in the effective legal documents.

to put it bluntly, I have money but I just don't want to give it to you.

at that time, the net profit of Jinzizi was 13 million yuan, down 33.44% year-on-year, mainly due to the loss of herbal beverage business. However, after the failure of the new product, Jiang Peizhen's first thought was not to invest more in R&D, but to continue to work on the "cash cow" of Golden Throat, so-called "upgrading" it again and again.

Jinsizi throat tablets have been "upgraded" from the initial 2 tablets/box to 12 tablets/box, but the price of each box has risen from 5 yuan in 215 to 6.4 yuan in 22, playing a trick of reducing the price and increasing the price. In the past six years, the company's net profit has not increased significantly. In addition, the latecomers such as Compound Caoshanhu Buccal Tablets, Qinghou Liyan Granules, Sanjin watermelon frost, etc. are constantly carving up their markets, and the situation of Jinsizi throat tablets can be described as difficult.

from 212 to 215, the sales volume of golden throat tablets has been stable at about 12 million boxes, but by 22, the sales volume of throat tablets will only be 91 million boxes.

the ending seems to have been doomed.

That's right: My Lord, times have changed!