Recently, Tianjin paopaomat, a subsidiary of “the first share of the blind box”, was fined 50000 yuan for improper prize sales, which attracted market attention. It is worth noting that in March this year, Tianjin bubble Mart was also fined 50000 yuan for problems in promotional activities.
punished for improper prize sales
Tianyancha showed that on April 11, Tianjin bubble Mart Culture Communication Co., Ltd. was fined 50000 by Hangzhou Gongshu District market supervision and Administration Bureau for improper prize sales.
The reason for punishment is that the party involved in Tianjin paopaomat evenly arranged 8000 gifts on 1213 vending machines across the country, and only placed a total of 10 gifts in the vending machine (No. r2y-c144) in Wanda Square, Gongshu District, Hangzhou twice (5 on January 19 and 5 on January 21), and did not clearly inform consumers of the number of prizes in the vending machine, And declared in the poster that “if the gifts in the machine have been sold out, if you continue to buy the gifts before replenishment, the purchases during this period will not be included in the scope of this activity.”
Consumers are unable to clearly know whether the gifts in the vending machine have been sold out before and after purchase, which affects the cashing of the bonus sales activities of the vending machine. It has been found that the vending machine (No. r2y-c144) sold a total of 497 blind boxes during the prize sales activity, with a total sales amount of 33964 yuan. During this period, 9 consumers bought more than 4 (including this number) blind boxes in a single transaction, of which 3 won prizes (the party concerned reissued one to the complainant in this case), and 6 didn’t win prizes because there were no gifts in the vending machine. A total of 66 consumers purchased more than 2 and less than 3 (including this number) blind boxes in a single transaction, of which 8 won the prize, and the other 58 did not win the prize (consumers cannot know whether they won the prize or because there were no gifts in the machine). In addition, it was found that the parties concerned reached an agreement after many communications with the complainant, and the gifts had been reissued to the complainant.
In this regard, the market supervision and Administration Bureau of Gongshu District of Hangzhou ordered him to immediately stop the illegal act, fined him 50000 yuan and turned it over to the state treasury.
3 months fined for promotional activities
According to tianyancha, Tianjin bubble Mart Culture Co., Ltd. was established in November 2016 and is wholly owned by Beijing bubble Mart culture and creativity Co., Ltd. At present, the company has four administrative punishment records, with a total punishment amount of 170000 yuan. In March this year, the company was also fined 50000 yuan by Tianjin Binhai New Area market supervision and administration because of problems in promotional activities.
According to the decision on administrative punishment, on November 27 last year, Tianjin Binhai New Area market supervision and administration received a report from the masses that Tianjin bubble Mart could randomly obtain two kinds of guardian elves in the activity of selling premium cards through wechat applet, but there was no public probability of winning the prize. I hope the market supervision department will investigate and deal with it.
It was found that Tianjin bubble Mart did not publicize the acquisition probability and the number of prizes of the two complimentary guardian spirit commodities in the relevant sales process. Although it was replaced with the commodity map with marked probability soon, during the period without marked probability, Tianjin bubble Mart sold a total of 623 premium cards, and the total actual sales amount was 373117 yuan.
Tianjin Binhai New Area market supervision and Administration Bureau said, The behavior of the party concerned violated the first paragraph of Article 13 of the Interim Provisions on regulating sales promotion “Before selling with prizes, the operator shall clearly announce the types of awards, conditions for participation, methods of participation, time of lottery, methods of lottery, amount of prizes or price of prizes, name of prizes, types of prizes, number of prizes or probability of winning the prize, time of prize cashing, conditions of prize cashing, methods of prize cashing, methods of prize delivery, conditions of prize abandonment, organizers and their contact information, and shall not change, attach conditions or affect prize cashing, Except for those beneficial to consumers. ” Provisions of the. And impose a fine of 50000 yuan.
2021 revenue over 4 billion yuan
The financial report shows that in 2021, bubble Mart achieved a revenue of 4.49 billion yuan, a year-on-year increase of 78.7%; The adjusted net profit was 1.002 billion yuan, a year-on-year increase of 69.6%; The net profit attributable to the parent company was 854 million yuan, a year-on-year increase of 63.2%, and the basic earnings per share was 0.62 yuan.
In terms of revenue proportion, online channel revenue accounts for the most, accounting for 41.8%; Followed by retail store revenue, accounting for 37.3% Siasun Robot&Automation Co.Ltd(300024) store revenue accounted for 10.5%.
In terms of specific online channels, in 2021, the company accounted for the highest proportion of revenue on bubble mat box extractor (i.e. wechat applet platform), which was 47.8%, and the revenue increased by 92.6% year-on-year; Followed by tmall flagship store, accounting for 31.9%, with a year-on-year increase of 47.5%. Although the revenue of JD flagship store in 2021 is less than that of other channels, it has a large increase, with a year-on-year increase of 296.0%; In addition, bubble Mart has won the first place in the sales of tmall’s double 11 toy categories for three consecutive years.
In 2021, the bubble store opened 106 stores in Chinese mainland, increasing from 187 in late 2020 to 288 at the end of 2021. In 2021, 510 new Siasun Robot&Automation Co.Ltd(300024) stores were opened in Chinese mainland, from 1351 at the end of 2020 to 1861 at the end of 2021. By the end of 2021, the company had 7 stores in Hong Kong, Macao, Taiwan and overseas, and 9 Siasun Robot&Automation Co.Ltd(300024) stores.
blind box economy repeatedly cited disputes
Bubble mart, which made a fortune by relying on the blind box and successfully listed in Hong Kong stocks, has also been controversial in the blind box in recent years.
In December last year, bubble Mart was fined 200000 yuan for false publicity of a stockings blind box with a single product price of 79 yuan. At the beginning of this year, it caused consumers to rush to buy the blind box package jointly with KFC, which aroused widespread concern in the society. It was also criticized by the China Consumer Association for using the limited edition blind box sales means to induce and connive consumers to purchase food packages unreasonably and in excess, which is contrary to public order, good customs and legal spirit.
It is worth noting that in terms of price, the price of bubble Matt blind box increased across the board last year. The price of new IP products such as labubu and dimoo increased from 59 yuan to 69 yuan, and the price of some hot blind box items increased to 89 yuan. However, although the price has increased, the quality control of bubble mat blind box has not been greatly improved.
On the black cat complaint platform, at present, there are 7837 complaints related to bubble mart, most of which are due to the purchase of defective products but the merchants refuse to return them. In addition, there are complaints about false delivery, wrong version and other problems on the bubble Mart platform.
On the 31st of this year, bubble Mart was named as a blind box by China Central Television. Some consumers responded to its falsely high commodity prices, poor product quality, inducing excessive consumption and high selling prices in the second-hand market, which aroused widespread concern.
In this regard, bubble Mart also responded urgently, saying that it would adjust its business at the first time. In the future authorization cooperation with the food industry, all customized blind box businesses would be suspended to eliminate possible food waste and remind consumers to consume rationally.
In addition, we will continue to increase investment in improving process quality and quality control in the future. At the same time, I reiterate that bubble Mart has not participated in the second-hand market of trendy play in the past and will not participate in any form in the future.
However, bubble Mart obviously did not completely give up the authorization cooperation. According to public data, in recent years, Paopao Mart has made continuous joint efforts. In addition to KFC, Paopao Mart has launched joint cooperation with many well-known brands, such as holilay, Mengniu, Leshi, dove, keyans and vivo, covering FMCG, beauty, daily use and other fields. The official disclosed that it will launch a joint brand series of clothing with UNIQLO at the end of April.
Yang Jianpeng, director of market authorization Department of bubble mart, also revealed recently that the authorization business of bubble mart is continuously upgrading, making breakthroughs from FMCG, food, beauty and other industries to more fields, such as 3C, clothing, hotels, virtual, etc. Through in-depth joint customization cooperation with popular first-line brands, promote IP to continue to break the circle, deeply cultivate the commercial value of IP, integrate the trendy toy culture IP into more consumption scenes, and create a more mature and perfect business framework.
In this regard, some people in the industry believe that through joint cooperation with famous IP, bubble Mart can not only get authorized income, but also further improve brand awareness and influence. However, at present, bubble mart’s IP only stays at the appearance and image level. Compared with Disney’s and universal’s famous IP, it lacks rich content support. In the long run, it is likely to change the popular preferences of consumers in the future, And it is difficult to give sustained commercial value.
In terms of share price, bubble Mart has fluctuated all the way in the past year. As of April 14, it closed at HK $36.85 per share, a decline of more than 40% in the past year. The latest market value is HK $51.6 billion. Compared with the historical peak, the market value has evaporated by nearly HK $100 billion.
